European banking shares take a hammering as Deutsche Bank falls to its lowest ever June 16, 2016 European banking shares dropped today – with Deutsche Bank's share price falling to its lowest-ever in early trading. Deutsche shares fell as low as €12.94 , 2.5 per cent lower, while the UK's big four lenders were also hit, with HSBC dipping 1.1 per cent to 420.95p, Barclays falling 2.5 per cent to 157p, Royal [...]
At the close: £30bn wiped off FTSE 100 as Brexit fears mount June 14, 2016 Financial markets were plunged into turmoil today as the latest Brexit opinion polls sent investors running for the hills, wiping tens of billions off the value of the UK's leading companies. The FTSE 100 shed two per cent to end the day at 5,923.53 – its lowest close since 24 February – knocking roughly £30bn [...]
This £5 supermarket Malbec has been named the world’s best red wine June 13, 2016 It looks like it's officially time to embrace supermarket plonk, after Asda rode to a surprise victory with one of the world's best red wines at the Decanter World Wine Awards. The supermarket toasted the success this weekend of its Chilean La Moneda Reserva Malbec after it won the top prize in the single-varietal red under £15 category at the awards, [...]
As Amazon Fresh launches in London, does it pose a real threat to UK supermarkets? June 10, 2016 Fraser McKevitt, head of retail and consumer insight at Kantar Worldpanel, says Yes. The last thing that the traditional British supermarkets want is another challenge to their model – they’re still busy fending off the shock of Aldi and Lidl’s sharp pricing model. Online grocery sales are growing well ahead of the overall market, so it’s [...]
Probe finds non-transparent practices are pervasive within the US advertising industry June 7, 2016 Media agencies in the US have been given cash rebates by media companies for spending a certain amount of their clients' budgets with them, a probe by an American industry trade body has found. Agencies are expected to act in the best interests of their clients, and such rebates are banned in the States. A "pervasive" [...]
Fed’s Yellen concerned by recent shock jobs report but remains “cautiously optimistic” June 6, 2016 The recent jobs report that showed a slow down in the number of jobs the US economy is adding has been called "concerning" by the Fed chair Janet Yellen. Her remarks will reinforce market expectations that the US interest rate will be held steady. Bloomberg average estimates of an interest rate hike in June fell to two [...]
Bitcoin just hit its highest against the dollar in nearly two years June 3, 2016 Whoosh. That's the sound of bitcoin whistling past, as it jumped to its highest level against the dollar in nearly two years. The cryptocurrency leaped to $556.19 in mid-afternoon trading, its highest since August 2014. That followed US data which showed job openings rose by just 38,000 in May, way below the 160,000 expected. Analysts dubbed the figures "crazy": [...]
Dollar plummets as US reports weakest jobs growth in six years, pushing back expectations of a US rate rise June 3, 2016 "Crazy". "Absolute shocker". "Unbelievable". It's safe to say US jobs growth just blew analysts' minds. Official data published today showed US employers added just 38,000 jobs last month – the lowest figure in six years, and way below the 160,000 expected. Meanwhile, earnings growth remained weak, rising just 0.2 per cent on last month, down from 0.4 [...]
Putting the super back into the supermarkets: What the Co-op rebrand tells us about the current state of the sector June 1, 2016 The unveiling of the Co-op rebrand last week was the latest sign of a major shift in the supermarket arena. The brand’s decision to revert back to its origins, resurrecting – albeit also modernising – its 1968 logo, was a clear attempt to spark an emotional connection with an audience for whom loyalty is meaning [...]
The supermarket squeeze: Big four supermarkets outperformed by discounters and premium competitors June 1, 2016 The big four food retailers – Tesco, Sainsbury's, Asda and Morrisons – are suffering in the supermarket squeeze today as both discount and premium challengers boasted the strongest sales growth. Tesco had the smallest drop in sales of the big four, at 0.1 per cent, and Asda the biggest, with a 5.1 per cent decline in sales. Discounters Aldi and [...]