Convenience retailers spend £177m on shops June 29, 2015 Convenience retailers spent £177m refurbishing their stores in the three months to May amid increased competition from their peers, coffee shops and food chains all vying for a bigger share of the food-to-go market. Britain’s booming convenience market is now worth over £37bn and consists of 50,000 stores – of which less than 2,500 are [...]
Greek Prime Minister Alexis Tsipras calls on Greeks to vote “no” to reforms June 29, 2015 Even if Greece votes against accepting the reforms put forward by creditors, it will not be pushed out of the Eurozone, according to Prime Minister Alexis Tsipras. Read more: Jean-Claude Juncker says he feels "betrayed" by Alexis Tsipras During an interview televised on the Greek ERT channel on Monday night, he called on the [...]
S&P downgrades Greece and puts chances of Grexit at 50 per cent June 29, 2015 S&P has downgraded Greece's credit rating from CCC to CCC-, and says there is a 50 per cent chance it will leave the Euro. Read more: Greece will default on its €1.6bn repayment to the IMF tomorrow It made the change because it feels that, unless circumstances change, Athens will probably default on its [...]
Airports Commission report: Heathrow or Gatwick runway expansion? A decision will finally be made on Wednesday June 29, 2015 We are finally going to find out the best way to accommodate the ever increasing number of people traveling to the UK by air. The long-delayed decision by Sir Howard Davies's Airports Commission on the best way to expand airport capacity will be revealed on Wednesday after a long and hard-fought battle between Heathrow and [...]
Greek crisis: Jean-Claude Juncker says he feels “betrayed” by Alexis Tsipras after debt negotiations fail June 29, 2015 European Commission president Jean-Claude Juncker cut a weary figure as he told a press conference today that he feels "betrayed" by Greece's refusal to consider its creditors' reform package. Read more: Greece crisis pummels world markets In an extraordinary Brussels press conference, Juncker said: "I feel betrayed because not enough consideration is given to my [...]
Greek crisis: €8bn withdrawn from Greek banks by savers, Moody’s reckons June 29, 2015 It looks like those capital controls came in the nick of time: new analysis from credit ratings giant Moody's has suggested Greek savers withdrew €8bn (£7.1bn) over the past two weeks. To put that into context, that's more than the €7bn of funds creditors have been arguing over. The note from Moody's suggested deposits fell [...]
Greek debt crisis: Should I still go on holiday to Greece? Government issues travel advice June 29, 2015 As Greece plunges headlong towards defaulting on a payment due to the International Monetary Fund (IMF) tomorrow, what does that mean for the two million-odd people expected to travel to Greece as the summer holiday season kicks off? Here's how it's likely to affect your holiday. What's actually happening? The Greek government has been unable [...]
Greek debt crisis: Should UK tourists take cash to Greece? Government imposes ATM limit on citizens as banks close June 29, 2015 Foreign tourists are exempt from the €60 (£38) daily limit Greece's government has imposed on ATM transactions in the country, Greek authorities have stated. In response to a possible bank run and crisis, Greece has closed banks until after the referendum next week, and capital controls have been imposed. Worried tourists have been queuing up [...]
FTSE, Dax and Cac all open lower as Greek crisis takes its toll on markets and the euro June 29, 2015 The turmoil in Greece hit European stocks this morning, with the FTSE 100, Germany's Dax and France's Cac all opening lower. Read more: "It's not too late for a Greek deal" – EU official The FTSE was two per cent lower, while Germany's Xetra Dax was down 3.7 per cent and France's Cac 40 was [...]
EU economy commissioner Pierre Moscovici: It’s not too late for a Greek deal June 29, 2015 Amid all the doom and gloom, one EU official struck a positive note this morning; EU economy commissioner Pierre Moscovici said this morning that it's "not too late" for Greece to strike a deal with its creditors. Hmm. Read more: Greek banks and Athens stock market closed for business In an interview with French radio [...]