The Bank of England, which said the system it uses to transfer payments between commercial banks was affected by a technical outage. Photograph: Anthony Devlin/PA Wire

London Briefing: chaos in City as part of automated system crashes

British luxury handbag maker Mulberry cut its profit forecast for the third time this year. Photograph: Gareth Cattermole/Getty Images

Accessories group hit by fall in demand for luxury goods and bad strategies

“Sclerotic, hopeless and downbeat” France was “finished”, John Lewis Partnership managing director Andy Street   told an audience of entrepreneurs in London. Photograph: Rui Vieira/PA Wire

London Briefing: gaffe by shows chief executives should leave jokes to comedians

“Fifty Pence Challenge” poster had been intended to motivate staff but ended up displayed in the window of a Sainsbury’s store in east London.

Focus shifts from Tesco to Sainsbury’s as it updates the market

A Phones 4U shop in central London with its shutters down as more than 500 of its stores were shut after the retail chain went into administration. Photograph: Philip Toscano/PA

Phones4U’s loss is the gain of other phone retailers but for how long?

Two women wave from a window on the Royal Mile in Edinburgh, Scotland. Photograph: Jeff J Mitchell/Getty Images

Warnings of dire consequences have induced leaders to take action

Tesco chief executive Dave Lewis: “The bit that is interesting is that that I have never run a shop in my life.” Photograph: EPA

Retailer’s new chief executive has battle ahead to get business ready for Christmas

Bank of England  governor  Mark Carney: has gone from rock-star banker to City’s ‘unreliable boyfriend’. Photograph: Suzanne Plunkett/PA Wire

London Briefing: Bank of England governor flip-flops on timing of higher rates

Tesco shares fell to a 10-year low last week as ratings agency S&P cut its credit rating from BBB+ to BBB.

Retailer’s incoming chief faces the stark possibility of cutting dividends

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