Bunzl acquires four firms and sells healthcare arm December 20, 2022 Bunzl has acquired four businesses and has agreed to sell its UK healthcare division. The specialist distribution group, which sells global businesses a variety of products from coffee cups to cafes, food wrap to supermarkets, and cleaning materials to hospitals, said the transactions would be profit neutral. The FTSE-100 firm said it would sell its [...]
Binance Deals With ‘Stress Test’ as Crypto Market Leverage Drops, FTX Founder is Charged December 19, 2022 Data from CryptoCompare shows that the price of Bitcoin started this past week moving up steadily from around $17,000 to a high above the $18,000 mark, before it quickly collapsed and dropped to $16,500. Ethereum’s ether, the second-largest cryptocurrency by market cap, traded in a similar way, seeing a high of $1,350 after starting the [...]
UK on course for slow burning recession, KPMG predicts December 19, 2022 The UK economy is on track to enter a long recession sparked by households and businesses being squeezed by sky high price rises, new forecasts out today unveil. Gross domestic product (GDP) will shrink 1.3 per cent next year, according to consultancy KPMG, who have become the latest organisation to warn of a protracted slump [...]
Investors set to be cheered by Bunzl’s climbing profits December 18, 2022 Specialist distribution group Bunzl is set to have waded through cost inflation and supply chain challenges and emerged with strong sales at the end of the year. The FTSE 100 company, which sells global businesses a wide range of products from coffee cups to cafes, food wrap to supermarkets, and cleaning materials to hospitals, will [...]
November sales down as online retail flops despite Black Friday December 16, 2022 Sales have slumped this November as Black Friday didn’t give online stores the boost it needed. Figures published today by the Office for National Statistics (ONS) show that retail sales volume contracted by 0.4 per cent following a 0.9 per cent rise in October. Online shops were hit the most as non-store retailing sales volumes [...]
CPI and the FED in focus December 14, 2022 Another interesting week in markets this time round, where it could end up being crunch time for the FED to make a decision on when these rate hikes are going to end. We’ve just had the November CPI print out of the US and have had some massive moves. Which begs the question, do the [...]
Food inflation hits Christmas dinner as fresh turkey prices up by 45 per cent December 14, 2022 Brits shopping for the key groceries for their Christmas dinner are facing eye-watering price increases, as the price of fresh turkey has rocketed by as much to 45 per cent. Shortages arising from an outbreak of bird flu now mean that fresh turkey prices have soared in recent weeks, while choices for consumers are also [...]
Poundland owner Pepco to accelerate plan for new stores as profit booms December 13, 2022 Poundland owner Pepco will accelerate its store rollout strategy as it looks to entice cash-strapped shoppers, after posting elevated profit. The discount retailer said it was taking an increased focus on new stores in Western Europe and a refit programme in Central and Eastern Europe. Pepco was upping its annual capex spend to between €350m [...]
Pubs optimistic ahead of England v France tonight as World Cup proves ‘shining light’ this winter December 10, 2022 Publicans will be eagerly hoping for extra time at the England v France match this evening, when venues will be hosting “one of the biggest nights of the year.” With the Three Lions set to take on the tournament’s quarter final this weekend, pub and bar bosses have said the game will draw in huge [...]
Twinings owner Associated British Foods boosted amid cost of living crunch December 9, 2022 Primark owner Associated British Foods (ABF) has said its food business will fair better this year than the last, as it faces the UK’s economic downturn with low-cost offerings. At its annual general meeting today, chairman, Michael McLintock is expected to keep the group’s full year outlook unchanged, as many businesses in the country nudge [...]