Will the pound’s weakness continue to drive the FTSE 100? October 13, 2016 The relationship between the weak pound and a strong stock market is showing signs of fraying, analysts pointed out today, as the FTSE 100 dives even as the pound remains under pressure. Sterling has been through the ringer this week, swinging up and down on the slightest whisper of Brexit news, although today's trading has been slightly calmer, with [...]
Business profits set to stumble in wake of EU referendum October 13, 2016 Corporate profitability held up in the three months before the EU referendum, new statistics have revealed, as companies showed little sign uncertainty was weighing on their ability to generate cash. The Office for National Statistics (ONS) said this morning profitability of private sector non-financial corporations, as measured by their net rate of return was 12.2 per [...]
FTSE 100 drops below 7,000 as Unilever and Tesco share prices fall after Marmite row October 13, 2016 The FTSE 100 has fallen further from its record high as markets digest some shock weak trade figures from China and the US Federal Reserve looks on course to hike interest rates. The bluechip index tumbled below 7,000 points to stand down for the week after reaching a record intraday high of 7,129 on Monday. Miners, [...]
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 [...]
How low can it go? Sterling falls against the dollar and the euro again October 13, 2016 If anyone thought yesterday's rise in sterling was anything more than a fluke, today convinced them otherwise: the pound fell against both the dollar and the euro in early trading. Sterling stayed firmly below $1.22 in early trading, falling 0.3 per cent against the dollar to $1.269 – and after briefly edging closer to €1.11 [...]
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 [...]
Unilever reports sales growth as it battles ‘tough market’ October 13, 2016 Unilever has reported an uptick in sales during the third quarter of 2016, despite facing what it described as 'tough market conditions'. Underlying sales grew by 3.2 per cent in the quarter, with price up 3.6 per cent and volume dipping by 0.4 per cent. On a constant exchange rate, sales were up by 3.4 per [...]
Tesco is struggling to stock key staples after price row with Unilever October 12, 2016 Tesco boss Dave Lewis is on a collision course with the company where he earned his stripes after the supermarket revealed it was running out of staple products such as Marmite and PG Tips. The supermarket giant said that it was running low on Unilever products and it is understood that this was as a result of [...]
Giraffe Concepts snaps up 1950s-style restaurant chain Ed’s Easy Diner in pre-packaged deal that will result in 379 redundancies October 12, 2016 Giraffe Concepts has snapped up Ed's Easy Diner in a pre-packaged sell-off of the 1950s-style restaurant chain. The purchase includes 33 of the company's 59 restaurants and will result in the immediate closure of 26 restaurants and 379 redundancies. The deal, for an undisclosed sum, also includes the Ed's Easy Diner brand and the group's head [...]