How Tyrrells aims to be the big cheese (and onion) of the crisp world January 28, 2016 Six years ago, David Milner received a phone call from private equity firm Langholm Partners, the former owners of Tyrrells Crisps. They needed help. After an eight-year growth spurt, sales at the posh crisp brand had turned rather stale and Langholm wanted the former Mars and Campbell’s Soup executive on board. “The first thing I [...]
Former Morrisons exec Norman Pickavance to lead retail taskforce to solve low pay and productivity issues January 28, 2016 How do you solve the UK's productivity puzzle? Well, the retail sector is hoping that a former Morrisons exec and adviser to Ed Miliband might be able to at least help out that industry. Ahead of the introduction of the new Living Wage, due to come into force in April, a new taskforce has been established to investigate [...]
Tesco to drop diesel prices further to 97.7p from today January 22, 2016 Tesco has said it will drop its diesel prices even further, committing to lowering the price of the fuel to 97.7p at all of its 500 filling stations from midday today. The supermarket was one of many to bring the price of diesel below £1 at the start of the year, alongside Sainsbury's, Asda and Morrisons, [...]
FTSE 100 opens higher despite weak Chinese economic data as miners including Anglo America, Glencore and BHP Billiton rally January 19, 2016 The FTSE 100 index opened higher today despite data from China that showed its economy growing at its slowest rate in 25 years. The UK's blue-chip index opened 1.64 per cent up at 5,872 points, led higher by miners. Yesterday markets were weighed down by "continued risk aversion and weakness in oil prices, as concerns grow over further deflationary forces rippling [...]
From retail mania and the Tube strike to oil prices and the Chinese economy: Here’s what got us talking this week January 15, 2016 We all got invited to a very special birthday party, while someone else got an early birthday present. Meanwhile, the details of Boris Johnson's Iraq antics were leaked. Oh no, BoJo. Here's what got us talking this week 1) Ground control to major Tim The world mourned as we digested the news that David Bowie had died [...]
The count is in: These are the retail winners and losers for Christmas 2015 (according to Hargreaves Lansdown) January 15, 2016 After a busy few days chock-full of Christmas retail results, we're finally beginning to get a sense of who the winners and losers of 2015's festive period might be. Yesterday, Tesco surprised investors with better-than-expected results, rounding off a solid performance among the UK's traditional supermarket sector – although Asda is still yet to report. Marks & [...]
Brent crude and WTI: Oil prices dip back below $30 January 15, 2016 Brent crude oil dipped back below the $30 per barrel mark today, as the prospect of more Iranian oil looms over an already oversupplied market. Brent crude, the global benchmark, shed 3.5 per cent to $29.89 per barrel this morning. Meanwhile, West Texas Intermediate (WTI) crude, the US benchmark, shed 5.05 per cent to $29.62. "It was [...]
Big Four fight back: Asda, Morrisons, Sainsbury’s and Tesco report rising sales after years of stagnation January 15, 2016 Tesco became the third supermarket to reveal better-than expected Christmas results yesterday, in the clearest sign yet that the industry is staging a successful fightback against German discounters Aldi and Lidl. The so-called big four – Tesco, Sainsbury’s, Asda and Morrisons – have been battling to respond to changing shopping habits and reverse the tide [...]
Petrol prices plummet, but what’s that got to do with the price of water? January 14, 2016 As we all know, the oil industry is not having a great time. Brent crude fell to below $30 (£20.80) a barrel for the first time since 2004 on Wednesday, and now there’s panic in the press at the idea that petrol, now 86p per litre, might become cheaper than water. The Institute of Economic [...]
Government on the defensive as North Sea suffers through another oil price slump January 13, 2016 The government was forced to defend its efforts to shore up the British oil industry yesterday, as record US stocks sent the price of Brent crude oil falling below $30 a barrel in late evening trading. During Prime Minister's Questions (PMQs), Sir Alan Duncan, a former oil trader, asked Prime Minister David Cameron to launch an [...]