Shock, horror, Bovril: Here’s how Twitter has reacted to Marmitegate October 13, 2016 A nation is in shock after Tesco said it is locked in a battle with Unilever over a potential 10 per cent price hike. As it stands, Tesco has admitted it may start to run out of Unilever's brands, which include Dove and Persil. And experts have warned this may not be the last threatened shortage of household staples in [...]
Don’t pass Heathrow’s third runway costs onto customers, warns British Airways boss October 13, 2016 As speculation grows over the government's anticipated airport expansion decision next week, British Airways has said it would be "totally unacceptable" for carriers and passengers to bear the cost of construction. Alex Cruz, chief executive of BA, told the British Air Transport Association that while a third runway at Heathrow Airport was "overwhelmingly" the obvious choice, [...]
Sky believes in better future after quarter in which rivals benefited from Euro 2016, Olympics and Paralympics October 13, 2016 Sky has said it is “on track financially” despite the company suffering at the expense of rivals broadcasting Euro 2016, the Olympics and the Paralympics. The figures In the UK and Ireland, turnover was up five per cent to to £2.1bn in the quarter to 30 September, boosted by a June TV price rise. However, Sky [...]
Tesco v Unilever: What the analysts are saying about #Marmitegate October 13, 2016 As Brits try not to panic in the face of (probably) rapidly depleting Marmite stocks at Tesco, analysts have warned that Brexit-induced inflation is looming ever closer. Tesco's share price dropped by 2.2 per cent in early trading today, after it was revealed the supermarket is in a dispute with consumer goods producer Unilever over pricing. The [...]
Someone is selling a jar of Marmite on eBay for £100,000 as the price war between Unilever and Tesco rolls on October 13, 2016 Someone is trying to sell a jar of Marmite on eBay for £100,000 amid fears that the stocks may run low due to a supply dispute between Tesco and Unilever. Tesco has pulled Marmite and all other Unilever brands from its website after Unilever attempted to increase its wholesale prices. At time of writing Tesco's share price [...]
Game Digital share price lifts slightly despite fall in profit before tax of more than 80 per cent October 13, 2016 It's not all fun and games over at retailer Game Digital today, where both profits and revenue have fallen over the past year. The figures Profit before tax at the high street game seller plummeted 81 per cent to £4.9m in the 53 weeks to 30 July, down from £25.8m in 2015 as Game struggled [...]
The woman behind the Brexit row: Gina Miller tells City A.M. why she took the government to task over Article 50 October 13, 2016 Gina Miller's high-profile court case over the triggering of Article 50 – the process by which the UK would start to leave the EU – begins today (Thursday 13 October). Miller's action is one of many brought after the public voted in June for Britain to leave the European Union, but hers has become the bellwether case. Constitutional law, [...]
Sports Direct’s CFO leaves company after presiding over three profit warnings October 13, 2016 Sports Direct has said this morning that its acting chief financial officer will leave at the end of the year. Matt Pearson became CFO last June and has presided over a tumultuous year for the company, including a parliamentary inquiry into working conditions and wages and three profit warnings. Most recently, the company issued a profit warning [...]
Create an engineering legacy for the UK, Chris Grayling tells HS2’s international bidders October 13, 2016 The UK's biggest infrastructure bidding frenzy starts today – with firms competing for seven packages of civil engineering work to build the first phase of HS2. Nine international consortia are submitting final bids to win nearly £9bn of contracts, and yesterday, Chris Grayling warned that only those who convince they will invest in a legacy of [...]
Passengers will be able to claim compensation for trains that are 15 minutes late October 13, 2016 Rail passengers will soon be able to claim compensation if their train is more than 15 minutes late. The Department for Transport (DfT) has introduced a new compensation scheme – Delay Repay 15 – which will be launched on Govia Thameslink Railway services, including Southern, within the next few months, and then rolled out across the [...]