UK gas price surge then falls back as Putin offers to stabilise energy markets – as it happened

Rolling coverage of the latest economic and financial news

• Latest: Gas prices ease after Putin offers to stabilise energy markets
• UK industry could face shutdowns as wholesale gas price hits record high
• UK construction growth hits eight-month low amid supply shortages
• UK borrowing costs highest since 2019
• Markets slide as stagflation fears haunt investors
• Two in three UK firms expect to raise prices in Christmas run-up, poll finds

Amazon is bolstering its UK high street presence with the opening of its first non-food physical shop offering its bestselling lines of books, electronics, toys, games and homeware.

The outlet, at the Bluewater shopping centre in Kent, is the online retailer's first Amazon 4-star store outside the US and will use data from its website sales to judge which products are proving popular with local shoppers.

As industry supply chains came under increasing pressure, we were able to leverage our strong supplier relationships and distribution capability to maintain good levels of availability for customers, contributing to our market outperformance.