UK Economy: Temu Sales Surge as Costa Returns to Profit and Bank Bets Draw Scrutiny

Temu’s UK sales more than doubled to $171mn, according to the Financial Times, which reports that the Chinese ecommerce company has benefited from a customs-duty exemption on small parcels. The growth puts a spotlight on how cross-border online shopping rules shape competition for UK retailers—and whether the tax treatment will change.

Costa brews a profit

Costa Coffee increased revenue by 5% to £1.3bn last year and returned to operating profit,...