UK grocery price inflation remained unchanged at 4.7% in November, as retailers continue to offer promotional deals to attract consumers amid ongoing financial pressures. According to data from Worldpanel by Numerator, 31.2% of consumer spending in supermarkets was on discounted items during the month, up from 30% in the same period last year. Fraser McKevitt, Head of Retail and Consumer Insight at Worldpanel Division, noted that retailers are intensifying efforts during a crucial holiday shopping season. He highlighted that nearly one in five households continue to face economic hardship, a trend that has persisted over the past two years. With living costs still affecting household budgets, promotional activity now accounts for close to one-third of total grocery spending, serving as a buffer against rising prices.
Meanwhile, Nvidia’s H200 chips, the company’s second-most powerful processors, represent a significant leap over the H20 model originally intended for the Chinese market but restricted by U.S. export controls in April. Former President Donald Trump recently claimed that Nvidia’s top-tier AI chips, including the Blackwell and Rubin series, would not be part of any deal with China, emphasizing America’s strategic interests. He stated on Truth Social that his administration prioritizes national security and American leadership in technology.
Trump also announced he had informed Chinese President Xi Jinping that the U.S. would permit the shipment of H200 chips to approved Chinese customers under strict conditions, a move that reportedly drew a positive response from Beijing. The news led to a 2.3% rise in Nvidia’s stock during after-hours trading. However, several senior Democratic lawmakers, including Senators Jeanne Shaheen, Chris Coons, Jack Reed, and Elizabeth Warren, criticized the decision. They described it as a serious threat to both economic and national security, arguing that providing advanced AI chips to China could enhance its military capabilities, cyber operations, and industrial competitiveness. They warned that such technology could erode the U.S. advantage in artificial intelligence, especially since Chinese firms like DeepSeek have previously cited limited access to U.S. chips as a major obstacle.
Nvidia CEO Jensen Huang had earlier stated that the company’s share of the Chinese market dropped from 95% to zero due to export restrictions, calling the ban a strategic error. Re-entering the Chinese market, the world’s second-largest economy, could generate billions in revenue for the $4.5 trillion company.
— news from The Guardian
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UK grocery inflation sticks at 4.7% n nUK grocery price inflation has held steady at 4.7% in November, as supermarkets offer discounts to lure shoppers into their stores. n nData provider Worldpanel by Numerator has reported that 31.2% of spending was on promoted items in November, up from 30% this time last year. n nFraser McKevitt, Head of Retail and Consumer Insight at Worldpanel Division, says: n nRetailers are pulling out all the stops to win shoppers over as they gear up for one of the most important trading periods of the year. n nOne in five households tell us that they’ve been struggling financially and that’s been largely consistent over the past two years. n nWith the cost of living still biting for many this Christmas, just under one third of all spending is on promotion as supermarkets find ways to shield shoppers from the impact of price rises. n nShare n nNvidia’s H200 chips are the company’s second-most powerful. They’re far more advanced than the H20, which was originally designed as a lower-powered model for the Chinese market, but which was banned from sale to China by the US in April. n nLast night, Donald Trump insisted that Nvidia’s most powerful AI chips wouldn’t be sold to China, posting: n nNvidia’s U.S. Customers are already moving forward with their incredible, highly advanced Blackwell chips, and soon, Rubin, neither of which are part of this deal. n nMy Administration will always put America FIRST. The Department of Commerce is finalizing the details, and the same approach will apply to AMD, Intel, and other GREAT American Companies. MAKE AMERICA GREAT AGAIN! n nShare n nIntroduction: Trump clears way for Nvidia to sell powerful AI chips to China n nGood morning, and welcome to our rolling coverage of business, the financial markets and the world economy. n nDonald Trump has been accused of a “colossal economic and national security failure” for allowing Nvidia to export its H200 artificial intelligence chip to China. n nThe US president announced last night he has granted Nvidia permission to ship H200 chips to China in exchange for a 25% surcharge for the US, a move that could allow the world’s most valuable company to win back billions of dollars in lost business. n nTrump posted on his Truth Social site: n n“I have informed President Xi, of China, that the United States will allow NVIDIA to ship its H200 products to approved customers in China, and other Countries, under conditions that allow for continued strong National Security. n nPresident Xi responded positively!” n nThe news lifted Nvidia’s shares by 2.3% in after hours trading on Wall Steet. n nBut it was swiftly criticised by some senior Democratic senators, including Jeanne Shaheen and Chris Coons — the top two Democrats on the Senate foreign relations committee — Jack Reed, the Democratic head of the Senate armed services committee, and Elizabeth Warren, the Ranking Member of the Senate Banking Committee. n nThey, and other Democratic senators, urged Trump to reverse the decision saying: n n“The Trump administration’s announcement that it will allow the export of advanced H200 AI chips to China is a colossal economic and national security failure. The H200s are vastly more capable than anything China can make and gifting them to Beijing would squander America’s primary advantage in the AI race. n n“Access to these chips would give China’s military transformational technology to make its weapons more lethal, carry out more effective cyberattacks against American businesses and critical infrastructure, and strengthen their economic and manufacturing sector. Chinese AI giant DeepSeek said as recently as last week that the lack of access to advanced American-designed AI chips is the single biggest impediment to its ability to compete with U.S. AI companies. With this decision, President Trump is poised to remove that barrier. n n“Senate Democrats and Republicans both know that the 21st century will be defined by whether the leading AI systems are built on values of free societies and free markets or the repressive, authoritarian values of the Chinese Communist Party. The Trump administration clearly doesn’t grasp the urgency of this contest. President Trump must reverse course and recommit to preserving American dominance in AI.” n nIn October Nvidia CEO Jensen Huang said his company has gone from having 95% of the Chinese market to having 0%, and called bans on its sales to China a “strategic mistake”. n nSelling H200 chips to China – the world’s second-largest economy – could mean a windfall worth billions of dollars for Nvidia, which is already valued at $4.5tn. n nThe agenda n n8am GMT: UK grocery inflation report n n2.15pm GMT: Treasury Committee hearing with Members of the Bank of England’s Monetary Policy Committee n n3pm GMT: House of Lords Economic Affairs Committee hearing: “Does the OBR play an effective role?” n nShare