Sainsbury’s-Asda merger will impact competition in 463 local areas, competition watchdog warns September 27, 2018 The UK competition authority today warned the mega merger between Asda and Sainsbury's could Seriously lessen competition in 463 local areas across the country. To solve the issue, the new business may have to sell off hundreds of the overlapping stores. Last week, the Competition and Markets Authority (CMA) said its concerns around the merger were [...]
Insurer Ardonagh agrees to buy Swinton brand in £165m deal September 27, 2018 Ardonagh, the UK’s largest independent insurance broker, has announced a £165m deal to buy specialist insurance firm Swinton from a French rival. It will sell some of Swinton’s assets to fund its bid to take over the group, which has existed since 1957 and has a focus on motor and home insurance. It intends to [...]
Most tech workers prefer having an ‘outspoken’ boss, according to poll September 27, 2018 Most people have some experience of working under a loud or overbearing boss. But according to new research, most professionals in the tech sector actually prefer a chief exec who's outspoken. A poll by Weber Shandwick's found that tech employees prefer bosses who don't shy away from controversial issues. Of a group of 502 tech [...]
No-deal Brexit could lead to tariffs of £9.3bn on EU food, report warns September 27, 2018 Food and drink costs could increase by £9.3billion a year if the UK does not slash tariffs in a 'no deal' Brexit, a new report has warned. Research by Barclays claims leaving the EU without a trade agreement would create an average tariff of 27 per cent on food and drinks coming from the [...]
Home-owning pipe dream edges out of sight as first-time buyers need a £53,000 income to buy a house September 27, 2018 The average income needed for a first-time buyer to jump onto the property ladder has shot up 18 per cent in the last three years, in the latest sign that the dream of homeownership is becoming increasingly distant for many young professionals. Only three out of 20 major UK cities have become more affordable [...]
Cut taxes for new firms in towns under threat from robot revolution, says report September 27, 2018 Tax breaks should be handed to businesses setting up in 'left behind' towns vulnerable to the rise of automation, according to a new report. The Centre for Social Justice (CSJ) believes entrepreneurs should be handed financial incentives to attract them to ten northern towns at risk of further decline thanks to the impending technological [...]
Chained to its rival? Halfords swoops in for embattled bike chain Evans Cycles September 27, 2018 Britain’s largest bike chain Halfords is in talks to rescue its beleaguered rival Evans Cycles, according to Sky News late last night. Halfords is understood to be one of several parties which have shown interest in buying Evans, which has hurried up the bidding process in an effort to avoid collapse. The news comes [...]
Commuters hit with double whammy of Piccadilly Line strike and District Line delays September 27, 2018 Commuters have been hit with a double whammy of travel disruption this morning as severe delays hit the Distrct Line between Upminster and Tower Hill and the strike on the Piccadilly Line entered its second day. Transport for London (TfL) said tickets would be valid on London buses for those using the District Line: https://twitter.com/TfLTravelAlerts/status/1045235046561587201 [...]
Tui avoids market turbulence to fly through summer despite UK heatwave September 27, 2018 Tui has avoided the market turbulence caused by the UK heatwave and flown through the summer with customer volumes up 4 per cent. The travel group said it expected a fourth consecutive year of double digit growth ahead of its full year results in December, re-iterating its 10 per cent growth guidance. Earlier this week [...]
Goldman Sachs enters British savings market September 27, 2018 US investment banking giant Goldman Sachs today entered the British savings market with a leading rate which will add to pressure on incumbents. The bank's Marcus brand, named after one of its founders, will offer an annual equivalent rate of 1.5 per cent, which includes a 12-month bonus rate of 0.15 per cent. The [...]