Premier League clubs have spent a fraction under £2billion in this summer’s transfer window already – with a week of business still to go. Data released by financial services firm Deloitte showed that as of 12pm on Friday top-flight teams’ spending had reached £1.95bn. That is already higher than the total, record figure calculated by Deloitte for last summer – £1.92bn. Deloitte said spending was £500m higher this summer compared to the same point last year, suggesting the final total could be around £2.5bn. Two of this summer’s deals so far have been worth over £100m – Arsenal’s signing of Declan Rice from West Ham and Chelsea’s recruitment of Moises Caicedo from Brighton. Premier League clubs’ net spend is calculated at £825m by Deloitte, 25 per cent lower than last summer (£1.1bn), which the firm attributes to a more active global transfer market. Calum Ross, assistant director in Deloitte’s Sports Business Group, said: “For the second year in a row, the summer transfer spending by Premier League clubs has surpassed the previous record and looks set to rise above £2bn for the first time before the window closes on September 1. “This sensational level of spending appears to be the new norm for Premier League clubs. They are generating unprecedented levels of revenue, which for some clubs is combined with the receipt of significant investment from new ownership. “As we approach the end of the transfer window, it remains imperative that clubs manage the buying and selling of players carefully and remain compliant with relevant financial regulations. “Sustainable business plans are essential to support continued competitiveness and long-term growth.” Chelsea’s spending in the last three windows – since a consortium led by American businessman Todd Boehly took charge – is believed to be edging close to the £1billion mark.

NEW YORK & LOS ANGELES--(BUSINESS WIRE)--Aug 29, 2023--

EVERETT, Wash.--(BUSINESS WIRE)--Aug 29, 2023--

LONDON The British public's expectations for inflation in the coming 12 months cooled in May, according to a

High street fashion retailer H&M has joined other companies in charging shoppers who return items purchased online. Customers must now pay £1.99 to return parcels either in store or online, with the cost of the return being deducted from their refund. Rival high street stores including Zara, Boohoo, Uniqlo and Next already charge for online returns, with retail experts predicting that even more are likely to follow suit. During the pandemic, when online shopping inevitably soared in popularity, customers became increasingly more reliant on returning items when they did not fit. However, this also led to a rise in people buying items in bulk and returning almost all those items, some of them worn. While most online and high street retailers do not formally announce the move to charge for returns, many have introduced the change under the radar, with H&M implementing the return fee this summer. Business analysts have told the BBC that other retailers are likely to do the same. "It’s interesting that companies seem to be doing it by stealth, but it’s a sensible thing to be doing," retail expert Jonathan De Mello told the outlet. "It makes economic sense, as it discourages shoppers from bulk buying online products and then returning the majority of them. That’s been a real problem for companies." While H&M shoppers might be disappointed in the extra returns fee, added De Mello, most might understand why a company would need to make this decision, especially when it comes to the environment. Many shoppers are increasingly aware of the environmental impact of deliveries and returns, from courier vans to wasted packaging. Retail expert and analyst Natalie Berg wrote on Twitter/X that retailers have “created a monster” with free returns. “​​H&M charging for returns. Retailers have created a monster with free returns. It makes financial and environmental sense to put an end to this ‘buy to try’ mentality.” But Berg pointed out that customers who have signed up to H&M membership would be exempt from the extra fee for returning items. “This is actually a really delicate way to tier your customers,” Berg said of the membership scheme. “Slowly climb down from costly promises by limiting those benefits to loyalty members. Retailers have become too generous over the past decade. Save that generosity for your most valuable customers.” Read More Inside London’s first Vogue World: Thong leotards and Anna Wintour’s VIP assembly line Voguewashing London Fashion Week won’t pay the wages of Britain’s young fashion designers Bridesmaid who “didn’t love” her dress spends 35 years wearing it around the world Meghan Markle praised for mixing high-fashion with affordable pieces Vogue World wowed but won’t pay the wages of young fashion designers Ukrainian designers prove beauty can come from darkness at London Fashion Week

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