Business
Morrisons feels the squeeze as Lidl edges ahead in the supermarket pecking order
There are few sharper symbols of how brutally the British grocery market has reshaped itself over the past decade than this: Morrisons, once one of the proud “big four”, has been overtaken by Lidl in the league table of the nation’s largest supermarkets.
The Bradford-based grocer reported that group like-for-like sales rose 2.2 per cent in the three months to the end of April, a slowdown from the 2.8 per cent growth it posted in the opening quarter of the year. Total sales edged up 1.7 per cent to £4 billion over the period, lifted, the company said, by fresh food promotions tied to Valentine’s Day, Mother’s Day and Easter. Underlying earnings (Ebitda) for the first half climbed 5.7 per cent to £323 million.
Steady enough numbers in isolation. The problem for Morrisons is what was happening elsewhere on the shelf.
According to Worldpanel by Numerator, Lidl held 8.6 per cent of the UK grocery market in the 12 weeks to 17 May, nudging ahead of Morrisons on 8.3 per cent and claiming the title of Britain’s fifth-largest grocer. For a chain that controlled barely more than 1 per cent of the market at the turn of the millennium, it is a remarkable ascent, and one we have tracked closely as Lidl crossed the threshold.
Morrisons, predictably, is not minded to concede the point. The grocer argued that the Worldpanel figures “underestimate” its true position because they exclude convenience stores. A spokesman added that the chain had “maintained our share while not opening new supermarkets, unlike the discounters who continue to add significant new space”. There is data to support the pushback: separate figures from NIQ put Morrisons on 8.5 per cent for the same window, just ahead of Lidl’s 8.3 per cent. The trade bible The Grocer noted that the two are now running neck and neck, the precise ranking depending on whose tape measure you trust.
Either way, the direction of travel is unmistakable, and it lands at an awkward moment.
Rami Baitiéh, who has led the recovery effort since the end of 2023, struck a measured note. The grocer was operating in a “highly competitive market”, he said, and remained focused on delivering “the best value for customers”.
The competitive backdrop is only half the story. Morrisons has been labouring under a heavy debt load since the American private equity group Clayton Dubilier & Rice acquired it in 2021, a deal that piled £6.6 billion of borrowings onto its balance sheet. The strain still shows in the statutory accounts: the group booked a pre-tax loss of £381 million in its latest financial year, a modest improvement on the £414 million loss the year before.
There has been genuine progress on the debt itself. Net debt has fallen 46 per cent to £3.17 billion since 2022, helped along by redundancies and the sale of stores and petrol forecourts. The company now operates around 500 supermarkets alongside a clutch of convenience outlets. Baitiéh, who has described the recovery as a “marathon”, says he is seeing “green shoots every single day”.
One asset Morrisons appears determined to hold onto is its food production arm. It remains the only major UK supermarket group to own its entire food manufacturing supply chain, processing roughly a quarter of the fresh food sold in its aisles. The division, Myton Food Group, runs about 10 sites across the country turning out eggs, meat, chilled food, flowers, seafood, produce and baked goods.
Speculation over its future has rumbled on. The Telegraph reported earlier this year that Morrisons was weighing a sale of the unit as the conflict in Iran stoked inflation fears among British businesses. The Grocer countered that the company was “not in serious negotiations” to sell Myton. Baitiéh himself was unequivocal in January, calling the manufacturing operation the “DNA of Morrisons”, adding that “it’s going to stay”. Rather than offload it, the grocer has been courting rival supermarkets to take supply from Myton, turning a cost centre into a potential revenue stream.
Like much of the sector, Morrisons has been vocal about the burden of government-imposed costs, singling out a £75 million annual hit from the rise in employer national insurance contributions. It is a complaint echoed across the high street, with Tesco among those urging ministers to ease the pressure as input inflation and geopolitical uncertainty cloud the outlook.
Baitiéh said the supermarket continued to “monitor the impact of input inflation very closely and we remain committed to doing whatever we can to help keep prices down for customers”. He has previously argued that rising prices “particularly affect pensioners and other less affluent groups, which comprise a significant proportion of our Morrisons customer base”.
For all the pressure, the tone from the top was upbeat on prospects. The grocer had made an “encouraging start” to the third quarter, Baitiéh said, with “strong plans in place to make the most of the World Cup and Father’s Day”. Whether that is enough to halt the discounters’ march, or simply to slow it, will define the next chapter of a turnaround that is far from finished.
Business
Lebanese villagers return to find homes in ruins

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AST SpaceMobile: SpaceX Drawdown Triggers Dip Buying Opportunity – FY2027 Monetization Inflection (Rating Upgrade)
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Business
Canada stocks lower at close of trade; S&P/TSX Composite down 0.32%

Canada stocks lower at close of trade; S&P/TSX Composite down 0.32%
Business
Stocks Rise, Bond Yields Fall as Gasoline Prices Push Below $4 a Gallon
Stocks and bond prices were higher on Thursday morning, after President Donald Trump on Wednesday signed a memorandum of understanding between the U.S. and Iran that increases the likelihood of releasing more oil supply from the Persian Gulf.
The Dow Jones Industrial Average gained 0.8%, or 419 points. The S&P 500 rose 1.1%, while the Nasdaq Composite gained 1.4%.
The national average price for one gallon of regular unleaded gasoline was at $3.9987 on Thursday, its lowest price since March 30, according to Dow Jones Market Data. The slowdown in inflationary angst has also propped up Treasuries.
Business
(VIDEO) Anne Hathaway Announces She’s Pregnant With Baby No. 3, Joining Husband Adam Shulman and Two Sons
Anne Hathaway is expecting her third child. The “Mother Mary” star, 43, announced Friday that she and husband Adam Shulman are expecting another baby, adding to a family that already includes two young sons.
The Announcement
Hathaway shared the news in a video posted to her Instagram on Friday, June 19. Wearing a flowy white dress, Hathaway walked into the frame with her arms positioned in front of her stomach. As the song “Baby I’m Yours” by Barbara Lewis played in the background, Hathaway dropped her arms to reveal her growing baby bump. She smiled, hugged her stomach, and then ran out of frame. “x Baby, I’m yours x,” she captioned the post.
A representative for Hathaway did not immediately respond to a request for comment on the announcement.
An Already Growing Family
Hathaway and Shulman are already parents to two sons, Jonathan, 10, and Jack, 6. The couple married in 2012 and expanded their family a few years later, becoming parents in 2016 when they welcomed son Jonathan. They later added son Jack to the family in 2019.
The new pregnancy marks the next chapter for a family that Hathaway has spoken about candidly and warmly in recent interviews, describing a household dynamic that she has called one of the most fulfilling periods of her life so far.
A Recent Reflection on Family Life
This past May, Hathaway gave a rare and detailed update on life with her two sons during an interview for Elle’s Summer 2026 “The Epic Issue.” The actress, who will star as Odysseus’ wife, Penelope, in the upcoming film “The Odyssey,” described her sons as being “in this really fun zone where we all love hanging out together, which I understand may change.”
Hathaway expanded on that thought with a touch of humor, acknowledging that the closeness she currently enjoys with her children may naturally evolve as they grow older. “Well, we will always love hanging out with them, but their feelings about us might change,” she said with a laugh.
Living “So for the Moment”
Because of that awareness that family dynamics shift over time, Hathaway shared that she and Shulman have made a conscious decision to fully embrace the present moment with their children rather than worrying excessively about the future. “We’re all just in it,” she said. “Adam and I are soaking it up. I’m having the most wonderful time with my family, living in the city of my dreams, and work seems to be going really, really well.”
She added a characteristically self-aware and lighthearted observation about her current state of contentment amid broader world events. “So rather obnoxiously, I’m having a great time as everything else burns,” Hathaway said.
Motherhood as a Grounding Force
Hathaway has previously been candid about how becoming a parent reshaped her sense of identity and personal integrity in ways that extended well beyond simply raising children. Speaking with WSJ Magazine in March 2022, the actress reflected on how motherhood changed her relationship with herself.
“I didn’t feel fully landed and fully here until I was a mom,” Hathaway told the publication at the time. “It’s not like I was lacking integrity, but it made me want to be completely, on every level, true to my word.”
She elaborated further on that personal transformation, describing how motherhood pushed her to confront patterns of self-deception or compromise she may have previously allowed herself. “And that meant stopping any nonsense that I had going on inside myself,” she said. “And it’s little breaks that you give yourself sometimes when you know that you’re not being your best self.”
A Career in Full Stride Alongside Family Life
Hathaway’s pregnancy announcement arrives at a moment when her professional career also appears to be thriving, with multiple high-profile projects either recently released or currently in production. Beyond her starring role in “Mother Mary,” Hathaway is also set to appear in “The Devil Wears Prada 2,” reprising one of the most iconic roles of her career, and will take on the part of Penelope in an upcoming adaptation of “The Odyssey.”
That combination of a flourishing career and a family life she has described as deeply fulfilling appears to have created a sense of balance and contentment that Hathaway has referenced repeatedly in recent public comments, including her remarks to Elle about simply trying to stay present with her family rather than getting caught up in concerns about how those relationships might change as her children grow older.
Fan and Public Reaction
News of Hathaway’s pregnancy quickly generated significant attention and discussion online following the announcement, with the actress’s Instagram post drawing dozens of comments from fans and followers celebrating the news. The announcement continues a pattern of Hathaway sharing meaningful family milestones directly with her audience through social media, a platform she has used previously to offer glimpses into both her personal life and her reflections on parenthood.
With no further details yet shared regarding a due date or additional specifics about the pregnancy, fans and followers will likely continue watching for updates from Hathaway in the coming months as she balances her expanding family with her ongoing slate of film projects. For a star who has spoken openly about finding profound personal grounding through motherhood, the arrival of a third child appears poised to mark another significant chapter in a period of her life that she has described, by her own account, as one of genuine happiness and stability — both at home and in her career.
Business
JPMorgan, Citigroup Named in DOJ Probe of Iran Leader’s Business Network
Fox News host Lara Trump and contributor Joe Concha assess the federal investigation into California Gov. Gavin Newsom and his wife on ‘The Evening Edit.’
The Department of Justice is investigating transactions tied to a business network linked to Iranian Supreme Leader Mojtaba Khamenei that reportedly had exposure to major U.S. financial institutions, according to a Bloomberg News report.
Bloomberg reported federal investigators are examining how companies connected to Khamenei built a global investment portfolio with transactions involving Wall Street firms including JPMorgan Chase and Citigroup.
The reported probe is part of a broader Justice Department investigation into alleged money laundering and corruption involving entities tied to Khamenei, according to Bloomberg, which cited people familiar with the matter.

JPMorgan Chase headquarters in New York City. Federal investigators are reportedly reviewing transactions tied to a business network linked to Iran’s supreme leader that involved major U.S. financial institutions. (Photo by Tim Clayton/Corbis via Getty Images / Getty Images)
JPMorgan Chase, Citigroup and the Department of Justice did not immediately respond to FOX Business’ requests for comment.
Investigators are reviewing the role U.S. financial institutions may have played in processing or facilitating transactions linked to the network, though Bloomberg reported the investigation does not necessarily mean charges will be filed.
The reported inquiry comes as the Trump administration has intensified pressure on Iran and sought to crack down on sanctions evasion and illicit financial activity tied to Tehran and its leadership.
JPMORGAN CHASE LAUNCHES AMERICAN DREAM INITIATIVE TO EXPAND SMALL BUSINESS SUPPORT ACROSS THE US

Citigroup headquarters in New York City. The bank was named in a report on a Justice Department investigation examining transactions linked to a business network tied to Iran’s supreme leader. (Victor J. Blue/Bloomberg / Getty Images)
The investigation could place renewed scrutiny on how major financial institutions identify and monitor potentially sanctioned entities operating through complex international ownership structures and investment vehicles, a longstanding challenge for global banks and regulators.
Bloomberg reported that investigators’ primary focus is Khamenei and the network of businesses tied to him rather than the banks themselves.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| JPM | JPMORGAN CHASE & CO. | 325.22 | -8.24 | -2.47% |
| C | CITIGROUP INC. | 143.06 | -0.72 | -0.50% |
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Khamenei became Iran’s supreme leader after his father, Ayatollah Ali Khamenei, was killed in a joint U.S.-Israeli airstrike. As Iran’s highest-ranking authority, he has final say over major state decisions, including foreign policy and the country’s nuclear program.
The reported investigation comes amid heightened tensions between Washington and Tehran as the administration continues to increase economic and diplomatic pressure on the Iranian regime.
Business
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Is There Mail Today? USPS Closed for Juneteenth While FedEx and UPS Keep Delivering
Americans may see disruptions to mail delivery and post office operations on Juneteenth this year, as the federal holiday affects government services nationwide, while private shipping carriers continue largely uninterrupted — creating a split delivery schedule consumers should plan around.
The U.S. Postal Service has confirmed that it will suspend regular operations on June 19, 2026, while private carriers such as UPS and FedEx will continue largely as normal, creating a split in delivery schedules consumers should plan around.
Why This Matters
Juneteenth, observed annually on June 19, is one of 11 federal holidays. Because USPS follows the federal holiday calendar, services pause for the day, potentially delaying deliveries and business shipments. For consumers and businesses, understanding which carriers operate can help avoid missed deliveries or unexpected delays, particularly for time-sensitive packages.
What Is Juneteenth?
Juneteenth commemorates June 19, 1865, the day that Union troops arrived in Galveston, Texas, and announced that enslaved people were free more than two years after the Emancipation Proclamation. The day has long been celebrated in Black communities and was officially recognized as a U.S. federal holiday in 2021.
Is Mail Being Delivered Today?
Regular mail delivery via USPS is not performed on Juneteenth, as it is a federal holiday observed by the Postal Service. Mail scheduled for delivery on June 19 will typically arrive on the next delivery day instead.
The Postal Service has pointed customers toward digital alternatives that remain accessible even with physical locations closed. “Customers are reminded that when Post Offices are closed, they can still access many postal products and services through usps.com and self-service kiosks available in select lobbies nationwide,” the USPS said in a release on its website. “Many self-service kiosks are available 24/7, offering customers flexibility and convenience even when Post Offices are closed.”
Is the Post Office Open Today?
USPS has confirmed that all post office locations will be closed on Friday, June 19, in observance of Juneteenth. However, some self-service kiosks and online services remain available during the closure.
These kiosks allow users to access postage printing for Priority Mail, Priority Mail Express, and international shipping, as well as purchase stamps. They can also weigh and mail packages in addition to tracking package information, giving customers a limited but functional set of options even with full-service locations shuttered for the day.
USPS Confirms Saturday Resumption
The Postal Service confirmed in a June 2026 announcement that all post office locations will be closed, with limited services, such as online shipping tools or kiosk access, still available during the closure. “Regular mail delivery and retail services will resume on Saturday,” the USPS wrote on its website.
That means customers expecting mail or packages through USPS on Friday should anticipate those deliveries shifting to the next business day rather than being delayed by a more extended period.
What About UPS?
UPS does not follow the federal holiday schedule in the same way as USPS. Standard delivery and pickup services generally continue on Juneteenth, according to its 2026 holiday operations calendar. Customers relying on UPS for shipping or receiving packages should not expect any disruption tied specifically to the holiday.
What About FedEx?
FedEx also typically operates normal pickup and delivery services on Juneteenth. Some specialty services or locations may have modified hours, so customers are encouraged to check locally before assuming every FedEx service will operate exactly as expected.
When Will USPS Service Resume?
USPS says regular mail delivery and retail operations will resume on Saturday, June 20, following the holiday closure. Backlogs are generally minimal, but delivery timing could vary slightly depending on volume and location.
For UPS and FedEx, no widespread pause is expected, meaning services should continue uninterrupted through the holiday period, giving customers relying on those carriers a more predictable and consistent shipping experience compared to the temporary gap in USPS operations.
Planning Around the Holiday
For anyone with time-sensitive shipping needs on Friday, the clearest path forward is straightforward: USPS-dependent mail and packages will see a one-day delay, resuming with regular delivery and retail operations on Saturday, while shipments routed through UPS or FedEx should proceed without interruption.
Customers who absolutely need to handle postal business on the holiday itself still have some limited options through USPS’s self-service kiosks and online tools, which remain operational around the clock even while physical post office counters are closed. Those digital tools can handle a meaningful range of needs — from printing postage and buying stamps to weighing and mailing packages and tracking existing shipments — without requiring a trip to a staffed retail location.
The Broader Pattern of Federal Holiday Closures
USPS’s closure on Juneteenth follows the same operational pattern the agency observes on other major federal holidays throughout the year, such as Independence Day, Thanksgiving, and Christmas. As a federal agency, USPS is required to observe the official federal holiday calendar with full closures of its retail and delivery operations, a requirement that does not extend to privately operated shipping companies like UPS and FedEx.
That distinction between government-mandated closures and private business operations has become an increasingly relevant point of clarification each year since Juneteenth’s elevation to federal holiday status in 2021, as consumers continue to adjust their expectations around which services pause for the holiday and which continue without interruption.
With Saturday marking the full resumption of standard USPS delivery and retail operations, any minor delays stemming from Friday’s holiday closure should clear up quickly, particularly given that backlogs from a single-day pause tend to be minimal under normal circumstances. For customers relying on FedEx or UPS, Friday’s holiday should pass with no noticeable change to their typical shipping and delivery experience at all.
Business
MDA Space Ltd. (MDA:CA) MDA Space Ltd. – M&A Call – Slideshow
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Business
Why SMEs Must Think ‘MATCH’ to Win the Event Economy
Britain’s small and medium-sized businesses are quietly rewiring the way they operate, and the trigger is no longer the calendar quarter but the fixture list. From tennis fortnights to stadium residencies and a summer of football, a growing “event economy” is reshaping local trading conditions for thousands of firms, and the smartest operators are planning for it months in advance.
For businesses clustered around stadiums, parks and city-centre entertainment hubs, the pattern is familiar: a sudden, concentrated wave of footfall that tests customer flow, venue capacity and day-to-day operations all at once. New insight from insurer Hiscox suggests these spikes are becoming more frequent, more geographically spread and, crucially, more predictable, which means they can be planned for rather than simply survived.
This summer’s football tournament is shaping up to be one of the single largest short-term jolts to UK hospitality demand in years. Some 40 per cent of consumers already plan to book a venue or buy tickets to watch the action, and 47 per cent say they would pay extra for a prime viewing spot. Separate analysis points to an £898m boost for the sector, with roughly 12.4 million fans expected to pour into pubs, bars and restaurants over the course of the tournament. It is a windfall that lands after a punishing few years for hospitality, and one Business Matters has tracked closely as UK pubs, bookmakers and takeaways eye a multibillion-pound spending boost.
There is a regulatory tailwind, too. During knockout fixtures involving the home nations, pubs will be permitted to extend trading hours, staying open until 1am for matches kicking off between 5pm and 9pm, and until 2am for later kick-offs between 9pm and 10pm. The relaxation, set out in The Licensing Act 2003 (FIFA World Cup licensing hours) Order 2026, applies automatically to licensed premises when a home nation reaches the relevant stages, sparing operators the usual scramble for individual Temporary Event Notices.
Simon Ratcliff, Commercial Property and Liability Underwriting Manager at Hiscox, says the operational upside comes with strings attached. “Major tournaments like this year’s summer of football can create sudden and significant changes in how SMEs operate, particularly where businesses adapt their venues for live screenings or experience concentrated demand during match periods,” he says. “This can introduce considerations around venue capacity, customer flow, health and safety procedures and licensing requirements, particularly where businesses are operating later than usual or changing how they normally trade.”
The MATCH framework: a tournament playbook for SMEs
The appetite is already showing up in search data. Queries for “where to watch the World Cup” are up 880 per cent over the past month, according to Google search analysis, while searches for “World Cup screening” have climbed 153 per cent over the same period.
To help businesses convert that interest into well-run, profitable trading, Hiscox is urging SMEs to think MATCH:
M – Monitor demand peaks around fixtures and key match times.
A – Adjust staffing levels ahead of high-attendance games.
T – Track whether temporary changes such as screens, outdoor areas or extended hours are covered under your public liability insurance arrangements, and check that turnover projections remain accurate as trading increases.
C – Control capacity and customer flow to manage queues and congestion.
H – Handle health, safety and licensing requirements for late-night trading and alcohol service.
Ratcliff flags one detail that catches operators out. “If hiring screens or audio-visual equipment for the tournament, venues should check whether hire agreements make them responsible for insuring the equipment while it’s in their care,” he says. “Many AV hire companies have ‘continuing hire charges’, meaning the venue could be liable for any damages, along with lost rental income while items are out of use.”
The rise of the ‘event economy’
The tournament is the headline act, but it is only one date in a far busier diary. SMEs are increasingly operating inside a broader, more sustained event economy that runs the length of the year.
Between June and December alone, the calendar takes in sporting fixtures from Wimbledon and Royal Ascot to Henley Royal Regatta and major football; stadium concerts including Harry Styles’ 12-night Wembley residency across June and July; and a national circuit of music festivals, from Download at Donington Park and Tramlines in Sheffield to TRNSMT in Glasgow, Creamfields in Cheshire, Green Man in Wales and Boardmasters in Cornwall. London adds its own layer, with BST Hyde Park, Notting Hill Carnival, Pride, Taste of London and Wing Fest, the world’s largest chicken wing festival, returning to London Stadium in July 2026. Then come the seasonal staples, from local fireworks displays to Christmas markets.
As these events grow more frequent and more widely dispersed, the planning challenge changes shape. Businesses are no longer bracing for one-off peaks but managing cyclical spikes that recur throughout the year, much as coastal and seasonal firms have long done. It is the same dynamic that saw the summer economy valued at billions and tens of thousands of jobs, now playing out in city centres and stadium districts.
For Ed Savitt, owner of DropShot Coffee in SW19, the tennis championships are not a fortnight of matches but one of the most operationally demanding stretches of the year. As tens of thousands of fans, tourists and media teams descend on the area each summer, the small independent shop turns into a high-pressure operation that takes months to plan.
“Wimbledon completely changes the pace of business for us. We now prepare months in advance across staffing, stock and planning,” Savitt told Hiscox. “Temporary setups require detailed planning around logistics, staffing and approvals, as well as additional operational considerations we don’t normally deal with day-to-day. We also introduced clearer queue systems, adjusted layouts and carried out additional risk assessments to manage crowding and maintain safe working conditions.”
For Common Pizza, the summer calendar brings more than warmer weather. With sites near both Clapham Common and Parsons Green, the pizza and live music chain sits next door to everything from large-scale festivals to Polo in the Park, each bringing its own wave of footfall and timing pressures.
“We see a noticeable uplift in footfall during major summer events on Clapham Common, with customers often spending more time in the area before and after events,” a general manager at Common Pizza told Hiscox. “For Polo in the Park, we expected increased demand during peak arrival and departure times, so we reviewed stock levels and ensured operations were prepared for busier trading periods. The biggest challenge is maintaining service quality while responding quickly to changing demand throughout the day.”
That mix of caution and opportunity reflects the wider mood across hospitality, where operators are weighing a welcome demand boost against thin margins and stubborn costs, a balance the sector knows well as the hospitality sector raises a cautious toast to returning pubgoers. The fundamentals of the tournament economics are encouraging, with the BBC reporting that pubs banked a significant trade boost during England’s recent run at the Euros.
For Ratcliff, the bigger shift is structural. “Major events are increasingly shaping how SMEs plan and operate throughout the year, particularly for businesses located near venues, parks and city event spaces,” he concludes. “What were once considered isolated busy periods are now becoming more regular operational challenges for many SMEs, requiring more proactive planning around how they manage demand, space and safety.”
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