Breakfast briefing: Retail news on supermarkets, Ted Baker and more

Supermarkets slash fuel prices for summer holidays

Supermarkets Asda, Morrisons and Tesco have cut the prices of petrol and diesel by up to 2p per litre, despite earlier forecasts that fuel prices would rise following Brexit, The Guardian reported.

Asda has announced a national cap, meaning motorists will not shell out over 105.7p per litre (ppl) on unleaded and 106.7ppl on diesel across its 272 stations, whereas Tesco rolled out a 2p drop yesterday.

Morrisons reduced the price of unleaded by 2p a litre and up to 1p a litre for diesel.

Ted Baker London launches Colour by Numbers

Ted Baker London has launched Colour by Numbers, a women’s collection that blends minimal silhouettes and thoughtful colour combinations, according to Footwear News.

The line is comprised of over 20 pieces of clothing and four shoe styles, with prices ranging from $140 to $495.

Brand communication director Craig Smith said: "We hope Colour by Numbers attracts not only the Ted customer but [also] gets attention from women who have never shopped with us before.”

“We are excited to bring new categories and collections to our loyal customers, while at the same time reaching a larger audience. We expect sales to increase in 2016,” he added.

British banks seek delay in separating retail lending

British banks are urging regulators for more time to carve out their retail lending from riskier parts of their business, stating that Brexit has made the separation more complex and costly, according to Reuters.

Lenders are required to complete the ring-fencing of retail operations by the beginning of 2019. The action seeks to avoid a repeat of the 2008 crash, which led to massive taxpayer-funded bailouts.

The UK regulation – which also covers the European operations of British banks – was proposed in 2011.

Since the Brexit result, several leading banks have told regulators that they need to see whether Britain will regain access to the EU single market before splitting off their businesses, according to senior sources at the lenders.