UK Business & Finance: Retailers Squeezed, City in Takeover Frenzy, and Budget Looms

John Lewis Partnership posted a £124m pre-tax loss — up 41% year-on-year — as rising employment costs, including Labour's employer NIC hike, hammered margins. Sales grew a tepid 2% to £6.3bn, with department store sales actually falling 2%. Chairman Jason Tarry didn't mince words: the "increased costs of doing business" are the culprit. Waitrose offered a glimmer with 4% sales growth, but even the upmarket grocer saw profits slip 6% as...