Mastercard and Visa see UK legal claims from high street names mount over interchange fees June 25, 2017 MASTERCARD and Visa are facing legal claims that could top £1bn as a raft of high street names pool their resources in a battle with the credit card giants over fees. At the start of this month, litigation claims were launched by 27 high-street retailers, supermarkets, pubs and bookmakers over “multilateral interchange fees”, or charges [...]
Remain campaign advertising agency M&C Saatchi eyes Scottish independence referendum role March 16, 2017 Nicola Sturgeon’s demand for a Scottish referendum may not have gone down too well with companies hoping for some stability after the EU vote last summer. But the vote, which the government wants to reject, presents an opportunity for some. Advertising agency M&C Saatchi, which today reported growing revenues and profits for 2016, will be aiming [...]
Asda, Morrisons, Sainsbury’s and Tesco are cutting petrol and diesel prices across the UK by up to 2p March 14, 2017 Asda and Morrisons announced yesterday that they are cutting fuel prices by up to 2p a litre across the country, and now Tesco and Sainsbury's are following suit. This will bring unleaded fuel to a new national price cap of 114.7p per litre at Asda's 301 filling stations, while diesel will cost consumers 116.7p per litre. “Over half our forecourts have already reduced the price of [...]
Morrisons is feeling pretty chill about #Marmitegate, saying price rises will be “minimal” March 9, 2017 The chairman of Morrisons supermarket has reassured shoppers that he will be minimising any price rises on groceries following the Brexit vote. The price of a grocery basket became a source of controversy last year when Unilever demanded higher prices from supermarkets, but Tesco refused – leading to a stand-off that became known as #Marmitegate. But [...]
Morrisons (MRW) share price fell this morning after it reported strong profit and sales growth – here’s how City analysts have reacted March 9, 2017 Shares in Morrisons dipped by 4.6 per cent at the open, after the supermarket reported annual profit and sales growth for the first time in four years this morning. Turnover was up 1.2 per cent to £16.3bn, while profit before tax rose by 49.8 per cent, to £325m, signalling that chief executive David Potts' turnaround is [...]
Iceland will be the first country to make its firms obtain certification to prove they offer equal pay March 8, 2017 Iceland has become the first country to make companies obtain certification to prove they offer equal pay, regardless of gender, ethnicity, sexuality and nationality. The Equal Pay Standard, on which the certification requirements are based, assesses a firm's pay policies, classification of jobs according to equal value and wage research on the basis of classification, as [...]
Supermarket sales grew at their fastest rate since June 2014 in the last 12 weeks March 7, 2017 Supermarket sales were growing at their fastest rate since June 2014 over the past three months as inflation started to bump up prices for key items such as tea, butter and fish. According to data from Kantar Worldpanel, supermarket sales grew by 2.3 per cent year-on-year for the 12 weeks ending 26 February. Kantar said [...]
Ultimate Products’ London IPO has been priced at £105m ahead of it joining the main market next week March 1, 2017 Ultimate Products' offer price has been set at 128p, which will equate to a market capitalisation of approximately £105.2m. The offer comprises 41,084,800 shares, representing 50 per cent of the company’s issued share capital on admission. Shore Capital is acting as sponsor, global co-ordinator and bookrunner to the Company, and Cenkos is acting as joint bookrunner. [...]
Consumer goods group Ultimate Products heads for a £100m-plus IPO in the next few days March 1, 2017 Ultimate Products, the innovative consumer goods group, is set for a £100m-plus IPO in London within days. It will list on the main market under the name of UP Global Sourcing Holdings. The IPO’s pricing could take place as early as today. The placing is understood to be substantially oversubscribed with investors taking part believed [...]
Discretionary income is “fading fast” as fuel prices squeeze families February 27, 2017 Growth in discretionary income is "fading fast" as fuel prices soared in January. UK families had an average £205 of disposable income available each week last month, according to Asda's income tracker, up 3.5 per cent on the same month the year before. Read more: Alarm bells sound over rising costs and inflation However growth [...]