Just Eat has partnered with Asda, where from January customers will be able to order supermarket items.

Andrew Kenny, the UK managing director of Just Eat, said: “We live in an on-demand world. We want to make sure we are getting our customers the food they want, when they want, when they want it. Our tie-up with Asda means we can help people access everything from store cupboard essentials to fresh groceries in a matter of minutes.”

Just Eat has said that 1,000 items will be available from the supermarket. The locations that Asda items will be available for Just Eat customers will be announced early next year.

Simon Gregg, the vice-president of online grocery at Asda, said: “We’re always looking for new ways to offer customers more choice and extend the number of delivery options available. The trial will also see Asda become more accessible to a wider customer base through Just Eat’s significant presence in the on-demand food delivery space.”

The UK house price boom is set to end next year, Halifax has predicted.

In its predictions, the mortgage lender said that house prices might only increase by 1% in 2022 after surging 8% in 2021.

“Looking ahead, with the prospect that interest rates may rise further in 2022 to subdue rising inflation, and with government support measures phased out, greater pressure on household budgets suggests house price growth will slow considerably,” said Russell Galley, managing director of Halifax.

“We expect that house prices will maintain their current strong levels but that growth will be broadly flat during 2022… There is still a large degree of uncertainty around this forecast, particularly the extent to which savings accrued during the pandemic continue to boost housing transactions and prices, and how lasting the recent shifts in housing preferences prove to be.”

UK retail sales jumped 1.4% in November. Retail sales are 4.7% higher than the same period a year earlier.

The latest figures show that clothing sales are up by 2.9% and other non-food stores saw growth increase by 2.8%.

Commenting on the figures, Danni Hewson, AJ Bell financial analyst, said: “It looked like Santa had got the memo from retailers and was on track to deliver them the kind of Christmas they could only dream about in 2020.  With the exception of food, sales were up across the board in November as people shopped early and shopped hard.

“More cash was spent on clothing as people got their glam ready to socialise in the run up to Christmas, sales actually soared above pre pandemic levels for the first time as people grew more and more confident about their festive plans. 

“Omicron was an unexpected gift and one most retailers wish they could return.  Despite a surge in spend on the high street in November which did take cash away from those online behemoths, December’s already shaping up to be a very different story.  Footfall is down dramatically and there will be some consumers deciding what they don’t have now they won’t be buying, or they’ll resort back to their virtual baskets.”

The Bank of England has raised rates to 0.25% for the first time in three years in a surprise move that sent the pound and bond yields higher.

USD/GBP was 0.79% higher at 1.3367 and the UK 10-year gilt yield rose to 0.797% in the immediate market reaction. The FTSE 100 dipped slightly 7,241 but held onto 1% gains on the day.

The Bank of England had to balance the impact of soaring inflation on households and businesses with the economic impact of the new coronavirus variant. The possible negative impact of inflation won.

Inflation has recently hit 5.1% – the highest level for 10 years – driven by rising food and fuels costs. This proved too much for the Monetary Policy Committee who voted 8-1 in favour in hiking rates.

Today’s move would suggest the Bank of England is planning to walk a similar path as the Federal Reserve in embarking on a series of hikes to help fight rising prices.

However, trying predict what the Bank of England will do next could be a source of uncertainty because the Bank of England has surprised markets on a number of occasions now and provided mixed messages.

The Bank of England did say they saw inflation peaking around 6% in April. A sustained period of inflation would demand further action from the Bank of England to help preserve household spending power.

“Whilst there was some thought that the emergence of Omicron may delay any rate rises, the rise has only been marginal with rates moving from 0.10% to 0.25% and this is unlikely to slow the economy much,” said Dan Boardman-Weston, CIO at BRI Wealth Management.

“We think the Bank needed to send a message that they are taking the threat of inflation seriously and leaving rates at the same level in the same week inflation moved over 5% would have been poorly received.”

Energy services provider Petrofac has suffered during the pandemic and a trading statement released today suggests their woes may persist for the foreseeable future.

The company said it expects revenue to be $3 billion and profit similar to last year and market expectations. Petfrofac recorded at $189 million loss in 2020.

Revenue of $3 billion would be less than the $4 billion recorded in 2020 and significantly less than 2019’s $5.5 billion revenue.

“Petrofac’s expecting full year revenue to come in significantly below last year’s as low order intake and coronavirus-related troubles continued to weigh on the business. While the Securities and Fraud Office investigation into bribery claims has finally been settled, the group will be feeling the impact of the ordeal for some time to come,” said Laura Hoy, Equity Analyst at Hargreaves Lansdown.

“Not only was it dealt a £77m pound fine, but the group was unable to do business in some of the most lucrative oil and gas markets which has had a significant impact on this year’s results.”

“Today’s update suggests the group’s hit the ground running as it rebuilds its order backlog under new CEO Sami Iskander. But there’s a long road ahead and covid-related headwinds aren’t helping matters. With revenue and profits expected to remain significantly below 2019 levels for the foreseeable.”

Sami Iskander, Petrofac’s Group Chief Executive, commented:

“In 2021 Petrofac has taken an important step forward, closing out the SFO investigation and embedding a strategy focused on future growth. During this period we have continued to deliver projects and operations safely for our clients worldwide, despite the ongoing challenges of the Covid-19 pandemic which continue to impact our current E&C portfolio.”

Having previously been included in the FTSE 100, Petrofac shares are a shadow of their former selves, trading at 111p on Thursday valuing the company at just £577m. Petrofac shares traded above 1,750p in 2012.