Get your dollars for next summer now: Sterling could fall further if hard Brexit continues October 26, 2016 The pound may have already fallen to a 31-year low against the dollar but there is a risk it could continue to drop if concerns over the government's plans for Brexit carry on. New analysis from UBS suggested that if the economy begins to recover from the shock of Brexit, sterling could improve against the [...]
Bottoms up: Net profit down but beer sales up for Heineken October 26, 2016 Dutch brewer Heineken's net profit is down on last year's figures but higher beer sales contributed to a better than expected performance, its latest results have shown. The world's second largest beer maker, which includes Tiger and Sol, sold more than expected in its third quarter, but saw its net profits plummet. The figures Net profit for [...]
Tesco chairman John Allan admits prices WILL go up due to weak sterling and higher inflation October 25, 2016 John Allan, the chairman of Tesco, has admitted that prices will increase at supermarkets if the pound stays at its current level. The chain temporarily pulled some of its products, including Marmite and PG Tips, from its online stores earlier this month after its supplier, Unilever, demanded a 10 per cent increase in prices due to [...]
Sterling malaise leads to Microsoft increasing enterprise prices October 24, 2016 The pound’s plunge means that software giant Microsoft will increase prices of enterprise software and cloud services from next year. Although consumers pricing will not be adjusted by Microsoft, the company revealed on one its own blog posts that from 1 January it will raise prices by 13 per cent to enterprises. Read more: Microsoft [...]
Meet Ernest: The free financial coach that sits in your Facebook October 24, 2016 When I was at BlackRock, I spent a lot of time on tech that was designed to improve return on investment for people who already had a lot of money,” says Niall Bellabarba, co-founder of Ernest, the intelligent finance coach. “So my starting point was that the man on the street doesn’t have access to [...]
NHS trusts eye £5bn savings in supply chain deal October 24, 2016 The NHS Shelford Group of 10 trusts has inked a deal with software firm Virtualstock to use its supply chain management software. It’s thought the deal will help the group surpass NHS targets of £5bn in savings by 2020. A February report estimated that £5bn is lost in the NHS through waste and price variations every [...]
10m journeys have been made with Sadiq Khan’s new bus Hopper fare October 20, 2016 Over 10m journeys have been made in the first six weeks of the Mayor's new bus "Hopper" fare, according to Transport for London (TfL). The milestone journey was made at 4pm on Wednesday afternoon on bus route 322, running from Tesco in Brent Park to Paddington Station. Read more: TfL signs £79m deal with Serco [...]
Pernod Ricard’s share price is up but warns British booze prices may need to go the same way October 20, 2016 Prices of some of Britain's best-loved spirits may be on the rise in coming months after the boss of spirits giant Pernod Ricard (Pernod) confirmed to investors that it would need to "adjust" prices in order to protect margins after sterling's recent slump. Pernod's finance chief, Gilles Bogaert, revealed the plans to increase prices in the UK after the group posted first [...]
Tesco executives to go on trial in September next year October 20, 2016 Three former Tesco executives have appeared in court today on fraud charges and a trial date has been set for September next year. Former finance director for Tesco UK Carl Rogberg, 49, ex-UK managing director Christopher Bush, 50, and ex-commercial director for food John Scouler, 48, have been charged with one count of fraud by abuse [...]
15,000 people apply for 78 Virgin Trains driver jobs October 19, 2016 More than 15,000 people have applied to drive Virgin's new Azuma trains, after the rail operator launched its biggest recruitment drive on the east coast route since the 1980s. And there were only 78 positions up for grabs. There hasn't been quite so much excitement over a job listing since Tesco advertised for a Christmas tree [...]