Retailers call on John Healey to raise national insurance contributions threshold in his first budget

Some of the UK’s biggest retailers and hospitality businesses, including Tesco, Costa Coffee and the Co-op, have met John Healey to urge him to cut the cost of employing young people in his first budget.

At the No 11 event on Tuesday morning, the chancellor heard from sector leaders – including the boss of Marks & Spencer, Stuart Machin, and Sainsbury’s chief executive, Simon Roberts – about the impact of the rise in employers’ national insurance contributions (Nics).

Cyber-attack on TFG London comes less than a week after online fashion seller Asos was hit by hackers

The owner of Phase Eight, Hobbs and Whistles has said its websites and IT systems have been hit by a cyber-attack that may have compromised customers’ personal data.

The South-African listed TFG London said it identified the “cybersecurity incident” at the three UK-based retail chains on Sunday. Its two other UK brands, Inside Story and White Stuff, are not affected.

Online retailer’s 26% jump sharpens focus on exemption letting cheap parcels into the country duty-free

Shein, the online fast-fashion retailer founded in China, increased sales in the UK by just over a quarter last year, overtaking its British rival Asos.

The company, whose global parent group listed on the Hong Kong stock exchange valued at just over $26bn (£19.6bn) last month, increased sales at its UK division by 26% to £2.58bn, according to accounts filed at Companies House.

Store closure will cost at least 60 jobs, while Leeds and Bristol outlets to be converted to Flannels brand

Harvey Nichols’ Birmingham store is to close in January, with the loss of at least 60 jobs, while its Leeds and Bristol outlets will be converted to the Flannels brand in a shake-up under Mike Ashley’s Frasers Group.

The owner of Sports Direct bought the department store chain, which is headquartered at its site in London’s Knightsbridge, for £43m on the day it was put into administration in mid August.

Talks between Sainsbury’s and Morrisons have set industry tongues wagging, with analysts saying the market is ripe for change

• Tesco lifts profit forecast and says shoppers are resilient

They may be two of the most recognisable brands in Britain, with a combined 188 years serving shoppers, but industry watchers agree that either Asda or Morrisons – or both – could disappear within a decade.

This week, it emerged that Sainsbury’s and Morrisons – the UK’s second- and sixth-largest supermarket chains – had held merger talks between last November and February, before the larger player decided to walk away.

Former Selfridges owners buy UK high street institution from long-term backer Stefano Pessina

The Canadian family that once owned Selfridges department store has bought the UK pharmacy and beauty retailer Boots for $8.9bn (£6.74bn).

Wittington Investments, the holding company of the Weston family that controls the Loblaws grocery chain and Shoppers Drug Mart pharmacy outlets in Canada, will own Boots’ UK and Irish retail operations and opticians chain, the No7 beauty brand and a franchise arm in Thailand.

Service to be tested in Spain and Portugal this year, with a UK rollout if successful, as pre-loved markets boom

Ikea is to test an online version of its buy-back service where the retailer offers vouchers for unwanted secondhand furniture.

The service will be tested in Spain and Portugal before the end of December and will be launched in the UK if it proves successful. Ikea already offers buy-back in stores, including in the UK. The online version will extend it to a much wider audience, with Ikea predicting pre-owned goods are likely to grab 16% of the UK homewares market by next year

Shares in fashion company fall nearly 10% after its app systems are accessed by ‘unidentified third party’

Asos is investigating unauthorised access to its app system after shoppers received a notification claiming hackers had “fully compromised” its data.

The online fashion retailer said basic personal information including name and contact details might have been accessed by an unidentified third party but it did not believe payment card records or passwords had been compromised.