S&P 5007,709.96▼0.2% Nasdaq26,348.35▼0.1% Dow53,885.10▼0.8% Russell 2K3,001.55▼0.6% 10-Yr4.67%+5bp VIX15.15−0.66 WTI$78.07▲3.8% Gold$4,292.00▲1.1% EUR/USD1.152▼0.3% BTC$64,867▼0.1% Nikkei65,101▼1.8%
At close · Fri, Aug 7, 2026
Daily Market Updates.

Global Markets

HomeGlobal MarketsTrade & TariffsUK PM Andy Burnham pledges ban on fake discounts and s…

UK PM Andy Burnham pledges ban on fake discounts and subscription traps

The measures are expected to benefit consumers by about £400 million a year and include new rules on misleading “was” prices and easier cancellation of unwanted subscriptions.

UK Prime Minister Andy Burnham says he wants to make cost-of-living issues central to his premiership, promising a crackdown on “rip-off” business practices aimed at reducing consumer harm from misleading promotions.

Burnham, writing for the Guardian, said the government will ban misleading pricing used by retailers to make discounts look larger than they are, including fake “was” prices, invented reductions, and misleading recommended retail prices.

The proposal is expected to benefit consumers to the tune of £400 million a year. Ministers plan consultations in the autumn on which specific practices are covered and how the ban will work, with changes introduced through secondary legislation as quickly as possible.

Burnham also said the government is speeding up protections against subscription traps, moving the introduction from next spring to January, and said the rules will require clearer information for consumers when they sign up.

More like this

Sources

Get the close, explained.

One email every trading day: what moved, why it moved, and what's on deck tomorrow. Read in 3 minutes.

Free. Unsubscribe anytime.