30 октября, 13:48

Made in Dagenham? Sadiq Khan hails plan for film studio as 'rare chance'

Plan for new studio in capital edges closer as mayoral study portrays east London site as ‘ideal and rare opportunity’ for world-class facilitiesA new Hollywood-scale film studio planned for Dagenham East has come a step closer after the London mayor, Sadiq Khan, said a study has shown the site is an ideal location and a “rare chance” to build the first new TV and film studio in the capital in 25 years.The next step is to find investors to back development of the 17-acre (7-hectare) site – 9 acres of which is industrial land purchased from Sainsbury’s for £12m last year – which a feasibility study has determined is an “ideal location for Hollywood-style studio space”. Continue reading...

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18 октября, 21:33

Reckitt Benckiser's sales warning is a product of mixed priorities | Nils Pratley

The previously lean machine behind Dettol and Durex has bet its future on branching out and scepticism is the right responseReckitt Benckiser, the Dettol to Durex empire, has enriched its investors splendidly over the past decade – the shares have travelled from £27 to £68 – but the engine now seems to be spluttering. The third-quarter update delivered a second sales warning of the year. Like-for-like revenues will be flat in 2017, which hasn’t happened in any year since the company was created in its current form in 1999.Chief executive, Rakesh Kapoor, can grumble about “a continuing challenging market environment” but Reckitt is also underperforming against its peers. In normal circumstances investors might shrug, remember the virtue of patience and trust Kapoor’s long-term record. It’s not an unreasonable view, but Reckitt has more on its plate these days. Continue reading...

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17 октября, 21:17

Sainsbury's to cut 2,000 jobs across UK

Store and back office roles axed to save £500m to counter impact of price war with discounters Aldi and LidlSainsbury’s is axing 2,000 store and back office roles as the supermarket chain looks to slash costs by £500m amid an intensifying price war with Aldi and Lidl.The retailer is restructuring its HR departments, getting rid of 1,400 store-based clerks and another 600 staff based in the back offices that serve the chain as well as Argos and Sainsbury’s bank. Continue reading...

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17 октября, 02:01

M&S wins crown for best Christmas turkey and fizz in blind tasting

Supermarket chain’s festive range got the most top ratings in Good Housekeeping tests, with Aldi also performing wellMarks & Spencer has topped the major categories in an independent taste test of Christmas food and drink, winning with its turkey, cranberry sauce and sparkling wine, and taking more high ratings than any other supermarket.The store had 14 products in the top five for each category in the annual exercise by Good Housekeeping magazine, although budget chain Aldi had the best Christmas pudding and tastiest vegetarian meal – its £1.99 spinach, leek and cheddar cheese parcels. Continue reading...

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14 октября, 09:00

Old £1 coins: don’t get short-changed after Sunday’s switchover

You will still be able to spend old round pounds after the deadline. Here’s where …British households have got rid of £60m-worth of the old “round pound” coins over the past week – but there are still more than £400m-worth still in circulation – and down the backs of sofas – with just this weekend to spend them.From midnight on Sunday the round pound will no longer be legal tender. Many retailers have made it clear they won’t take them anymore, including Sainsbury’s, M&S and Lidl. But there’s no need to panic as Tesco, Aldi, Iceland and Poundland, plus lots of small retailers, say they will continue accepting them for a short period, while the big banks will let you deposit them into an account for months yet. Continue reading...

05 октября, 08:45

The Independent составило рейтинг русской водки

Хотя почетный статус ее родины оспаривают друг у друга Россия и Польша, прочнее всего водка ассоциируется именно с Россией. В конце концов, эта страна остается одним из главных потребителей водки в мире — а значит в том, как ее делать, русские тоже должны разбираться. Поэтому лучшую водку нужно искать именно в России. Ее корни — в обширных лесах, горных областях и величественных городах. Так как один из ключевых факторов, влияющих на качество водки, — это вода, а многие марки используют воду из местных источников, происхождение напитка очень важно.

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04 октября, 20:52

Asda ‘comes to the rescue of drivers’ with 2p petrol price cut

Sainsbury’s and Morrisons follow suit after fall in wholesale cost, reducing price of unleaded petrol by up to 2p per litreThree UK supermarket chains are cutting the price of unleaded petrol after a drop in wholesale costs.Asda was the first to announce a reduction from Thursday of up to 2p per litre at its 308 petrol stations, bringing its national price cap down to £1.14 a litre. Morrisons and then Sainsbury’s followed suit. The cost of filling up with diesel at these retailers will be unchanged, as the wholesale price is static. Continue reading...

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29 сентября, 11:12

M&S, Aldi and Lidl suspend buying from chicken plant that fiddles kill dates

Food Standards Agency, Tesco and Sainsbury’s investigate 2 Sisters Food Group plant after Guardian/ITV News storyThe chicken run: blood, sweat and deceit in a UK poultry plantThe secretive ‘chicken king’: inside the empire of Ranjit Singh BoparanMarks & Spencer, Aldi and Lidl have suspended buying chicken from 2 Sisters Food Group’s West Bromwich plant following a Guardian and ITV News investigation that found evidence it had tampered with food safety records.The moves came as the Food Standards Agency said its inspectors had audited the site on Thursday, as it announced its own investigation on the back of the Guardian’s and ITV’s evidence of potential regulatory breaches at the chicken processor. The regulator also urged “anyone with information for this investigation” to make contact. Continue reading...

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28 сентября, 19:33

The chicken run: blood, sweat and deceit at a UK poultry plant

We sent two undercover journalists to work in the supermarket supply chain and found some alarming food safety practices“Have you just got out of prison?” the slaughterhouse foreman asks his new recruit. It is a question seemingly posed in jest, but probably only to mask a genuine suspicion that a spell in clink is the most likely explanation for an odd situation. Continue reading...

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28 сентября, 19:32

UK's top supplier of supermarket chicken fiddles food safety dates

Firm supplying Tesco, Sainsbury’s and M&S may have duped customers into buying out-of-date meat, Guardian/ITV News investigation revealsThe chicken run: blood, sweat and deceit in a UK poultry plantThe secretive ‘chicken king’: inside the empire of Ranjit Singh Boparan The largest supplier of chicken to UK supermarkets has been tampering with food safety records in moves that could dupe consumers into buying meat past its use-by date. An investigation by the Guardian and ITV News recorded undercover footage of workers altering the slaughter date of poultry being processed at a 2 Sisters Food Group plant. The group produces a third of all poultry products eaten in the UK and supplies top grocers including Tesco, Sainsbury’s, Marks & Spencer, Aldi and Lidl. Continue reading...

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19 сентября, 20:45

The real marker of adulthood is admitting you need sleep | Nosheen Iqbal

A new report claims a good night’s rest is the route to happiness. And after years maintaining that going to bed was boring, I’ve finally succumbed to this modern obsessionNews this morning to file under the genre marked, “No shit, Sherlock!”: money doesn’t bring you happiness, but good sleep does! I mean, having enough of the first will go a good way to making sure you don’t lose much of the second, but hold that thought: a decent night’s sleep, says a study by Oxford Economics, “outweighs sex, chatting, going for a walk, eating with family” when it comes to measuring personal wellbeing. Gloss over the “science”, commissioned as it was by Sainsbury’s, and there’s a nagging truth that I have only recently, reluctantly, come to accept: the sleep-industrial complex is real. The more you get, the more you crave, the more you become susceptible to the machinations of Big Sleep. Talk of sleep apps, sleep routines and clean sleeping become normalised; you’ll read press releases from duvet companies claiming “our love of bed and sleep has seen bedtime move from functional must-have to a complete lifestyle trend” without flinching.If you had asked me three months ago, I would have ranked “fun, all categories of” several priorities higher than lying in bed comatose for a third of the week. But unlike the gains you expect to make in getting older – primarily, in weight and wisdom – no one really tells you that your accumulated lack of sleep will creep up on you with a sudden blow. One minute, you’re careening around town until the very early hours, still operating as a human and holding down a job, a life and a deep affinity with 3am research projects. The next, years of being peppy and annoying take their revenge and a single birthday later, an internal switch flicks so you emerge slug-like, incapable of adapting to this debilitating need for five, six – eight! – hours of uninterrupted shut-eye. Continue reading...

19 сентября, 15:00

Lord Sainsbury: ‘This is why I believe in the welfare state. Certain things should be a right’

As his Gatsby Charitable Foundation reaches 50, the businessman and benefactor says that philanthropy is no substitute for benefitsDavid Sainsbury, Lord Sainsbury of Turville, who for 50 years has been a major benefactor of charities, education, research, the arts and projects in developing countries, and whose foundation has already given away more than £1bn, is appalled when I ask if he watched last month’s TV programme Get a House for Free, in which millionaire Marco Robinson gave a flat to the applicant deemed to be the most worthy recipient.“I can’t think of anything I would like less,” he murmurs. “This is the reason why I believe in the proper welfare state, because I think these things should be a right. And I would hate to put myself in a position of trying to judge other people’s worthiness.” Continue reading...

11 сентября, 11:12

Global relief rally continues on US stock markets; insurers jump on receding Hurricane Irma fears

FTSE 100 rebounds into positive territory following gloomy week of trading last week; AstraZeneca jumps to the top of the blue-chip leaderboard on positive drug trial results Pound holds six-week high against the dollar; trading flat at $1.3192 ahead of Repeal Bill ABF dips despite raising its full-year outlook as its Primark business continues to enjoy strong growth; Randgold Resources and Fresnillo drop as rising risk appetite pulls down gold prices Lloyd's of London insurers rise as payout fears recede; cost from Hurricane Irma expected to be less than initially thought 3:14PM Warning: Brexit could land business with £4bn a year customs bill without transitional deal Trucks going through ports could stack up as customs controls are reintroduced British businesses that export to Europe could collectively face a multi-billion pound Brexit bill if  the UK and the European Union are unable to agree a transitional customs deal, a think-tank has warned. The Institute for Government (IFG) says that should the UK leave the EU without a negotiated agreement on customs, controls at borders "could be introduced overnight”. It calculates that there are 180,000 business - most of them SMEs - trading with Europe who will need to make customs declarations following Brexit, landing them with a combined bill of at least £4bn in the first year alone. Read Alan Tovey's full report here 2:56PM Dow Jones rallies into positive territory; Petra Diamonds plummets on Tanzania dispute The Dow Jones has rallied into positive territory today The global relief rally has extended into the US session with the Dow Jones opening 0.8pc higher as Hurricane Irma and North Korea fears subside. Travelers Companies, an insurance firm, has followed its peers in Europe and jumped over 5pc on the index as concerns over the impact of Hurricane Irma on the sector fade. Meanwhile back in Europe, the FTSE 100 has given up some of its morning gains with the handful of stocks that started the day in the red steadily growing. On the FTSE 250, Tanzania's latest hostilities with foreign mining companies have pulled down Petra Diamonds and Acacia Mining. Petra Diamonds shares have shed nearly 9pc of their value today after the Government seized a package of diamonds it said had been undervalued, leading to the company suspending operations at its mine there. 2:26PM Google appeals against record monopoly abuse fine The company was fined £2.2bn in June Google has launched an appeal against the European Commission's record £2.2bn monopoly abuse fine, it has been confirmed in the last half hour. As reported in The Sunday Telegraph, the company will extend the seven-year dispute between the company and the EU over allegations that it exploited the dominance of its search engine to push its own online shopping service. Q&A | Why is Google being fined? 2:11PM Pink flamingos boost Primark sales and ABF forecasts Shoppers also flocked to Primark stores for pink flamingos Shoppers flocked to Primark stores over the summer to snap up pink flamingo pool inflatables alongside their holiday wardrobe essentials, helping to boost parent group Associated British Food's full-year forecasts. John Bason, ABF finance boss, said that the huge demand for its ornithological-inspired inflatables was one of the suprise big-sellers which helped the high street retailer smash its sales predictions for the summer and avoid heavy discounting.  The trend for over the top swimming accessories has been driven by celebrities such as Taylor Swift and Kourtney Kardashian and fuelled by social media posers. During the summer Primark was selling £9 flamingo inflatables as well as blow-up unicorns and £1 doughtnut-shaped floating cupholders. Shares fell by 3pc this morning following the results. Read Ashley Armstrong's full report here ABF 1:49PM Economics preview: Trio of UK macro releases will dominate sentiment this week The Bank of England's MPC is expected to vote to leave rates unchanged at 0.25pc With no economics data for the markets to pore over today, let's have a quick look at the key trio of macro releases due later this week. Tomorrow inflation is expected to pick-up to 2.8pc, tightening the squeeze on households, while on Wednesday wage growth figures will show whether the gap between pay and rising prices in the UK has continued to widen again. A day later we'll get the latest interest rate decision from the Bank of England on a 'Super Thursday' that might not quite live up to its name. The markets are currently pricing in just a 5.1pc chance of a hike in Thursday's meeting with patchy economics figures and cooling inflation in the last few months diminishing the clamour for a rise. Are the markets underestimating the chance of a hike? ETX analyst Neil Wilson gave this prediction for Thursday's decision: "The MPC is all but certain to leave everything well alone, with interest rates to be held at 0.25% and the size of the asset purchase programme unaltered at £435bn. At present there are simply too many unknowns for the Bank to hike to rates. However policymakers are likely to continue to stress that their tolerance for above- target inflation is not unlimited and that the market is underestimating their willingness to act. "The vote is expected to be 7-2 in favour of leaving rates unchanged, with confirmed hawks Ian McCafferty and Michael Saunders likely to vote for a hike. Andy Haldane is probably the only real unknown but the chief economist is, on balance, just seen voting for the status quo."  1:19PM Facebook hit with €1.2m fine in Spain for breaking privacy laws The company is also under investigation in France, Germany and the Netherlands Facebook has been hit with a €1.2m (£1.1m) fine in Spain after the country's data watchdog found it broke privacy laws. The social network breached laws designed to protect citizens' information and privacy on three occasions, according to the Spanish authorities. The regulator found Facebook had failed to inform users how their data would be used as it hoovered up the details of millions of people in Spain. It said Facebook had failed to educate users on how their personal information - including ideology, sex, religious beliefs, personal interests and browsing habits - would be used for advertising. It added that Facebook had illegally tracked visitors to its pages who had not signed up to the social network using cookies. Read Cara McGoogan's full report here 12:43PM Lunchtime update: Risk appetite rises on the markets as North Korea tensions fade The costs of Hurricane Irma are expected to be less than initially thought North Korea's nuclear no-show over the weekend has lifted the mood on global stock markets this morning with the FTSE 100 rebounding back into positive territory. The pound rising to over $1.32 against the dollar ahead of a big week of UK economics data couldn't dampen spirits in London with insurers enjoying a relief rally as the fears of eye-watering costs from Hurricane Irma recede. ABF has retreated despite its Primark business enjoying strong sales growth while pharma giant AstraZeneca has jumped towards the top of the blue-chip index after positive lung cancer drug trials. Accendo Markets analyst Mike Van Dulken said this on today's play: "Traders have started the new week hungry for risk, pushing equities and base metals higher on reduced concerns about North Korea and Hurricane Irma (although both very much still in play) and supportive China inflation data. As usual, bullishness has proved detrimental to safe havens like Gold, Bonds and the Yen & Swiss Franc. "The German DAX outperforms thank to a EUR/USD pullback from Friday's highs benefiting the index in general while Insurers/financials welcome a, thus far, less destructive Floridian path for Hurricane Irma. The UK FTSE 100 is higher, albeit to a lesser degree, and despite a strong GBP ahead of Thursday’s BoE policy update." 12:24PM Tesco deducted £3.4m from charity plastic bag sales last year for admin costs Tesco sells more plastic bags than any other UK supermarket Tesco has been criticised for deducting millions of pounds from charity donations generated by the plastic bag tax in order to cover "administration costs". New government data shows that Britain's biggest supermarket sold 637m carrier bags in the year to March 2017, raising almost £32m in proceeds. But it withdrew £3.4m of this to cover the “cost of administering donations”, equivalent to more than 10pc of the total. The government figures show that no other major supermarket – including Asda, Sainsbury's, Morrisons and Waitrose – made any such deductions from plastic bag sales, and instead passed on all proceeds to charities. Read Sophie Christie's full report here 12:08PM Pound pushes over $1.32 ahead of hectic week of economics data Brexit Secretary David Davis has said that voting against the Repeal Bill would lead to a "chaotic" Brexit The pound has risen to a six-week high against the dollar, just over $1.32, ahead of a crucial week of economics data for the UK. Key inflation data is due tomorrow and on Wednesday we'll find out if wage growth has eased the pressure on households suffering from rising prices. Stronger economics figures last week have helped to lift the pound from its August lows, according to MUFG currency analyst Lee Hardman. He said: "With growth in manufacturing output expanding solidly by 0.5% in July, there is some encouragement that the sharp improvement in business confidence driven in part by the weaker pound and stronger global growth is beginning to feed through into  hard economic data. "At this stage we still believe it is best to treat the recent improvement in UK economic data flow with caution. Plenty of tests are coming up for the currency, however. In addition to the inflation and wage data, we have Bank of England 'Super Thursday' later this week and the Repeal Bill vote in parliament later today. 11:40AM North Korea 'an unlikely source of bullish sentiment' on stock markets The UN Security Council will vote today on sanctions for North Korea On the markets no North Korea news is good news. The rogue state's unexpectedly quiet weekend has prompted a strong rally on European stock markets this morning with the FTSE 100 now 0.7pc up and the DAX in Germany enjoying a 1.1pc rise. Investors were worried that the country's founding day on Saturday would be marked by another show of military muscle but it passed uneventfully. The lack of any major economics releases means that Kim Jong-Un is the "unlikely source of bullish sentiment" on global stock markets, according to IG market analyst Joshua Mahony. He commented: "Markets have started the week in a positive fashion, with risk assets firmly in the driving seat at the expense of the commonly perceived havens such as gold, treasuries, and the yen. "The FTSE has utilised this morning’s bullish sentiment to build on the strong end to last week, rising to levels seen almost a week ago. It has been notable that the FTSE has held up well despite a surging pound and a significant degree of geopolitical risk associated with North Korea." With the UN Security Council due to meet later today over whether to implement oil sanctions on the rogue state, a renewed flare-up in tensions seems only round the corner, however. Asian equity markets have rebounded overnight as North Korea’s founding day passed without a missile test.— Arjun K Lakhanpal (@Arjun_lakhanpal) September 11, 2017 11:10AM Could Hurricane Irma actually benefit US GDP? Downtown Miami was flooded by Hurricane Irma While Hurricane Irma will undoubtedly have a short-term impact on the economy in Florida, the rebuilding process could actually support growth figures in the future, some analysts have suggested this morning. The hurricane season will pull down third quarter GDP figures but a boost to the US construction industry will lift GDP figures in the final quarter of 2017 and first quarter of next year, according to head of investment at Interactive Investor Rebecca O'Keeffe. She said:  "Rebuilding and reconstruction are likely to be a central theme over coming weeks with the DIY and construction industries likely to be beneficiaries. Demand for new automobiles could be affected substantially by their growing susceptibility to damage from floodwater. "Oil and oil product markets remain volatile as the knock-on effects of both Harvey and Irma may affect demand and supply for some time to come.  Florida is also a key supplier of agricultural produce to the US and wider market, not least orange-juice." 10:47AM Offshore wind to power £17.5bn investment boom as costs halve Offshore wind costs have halved in the last five years The UK’s offshore wind sector could power a £17.5bn investment inthe UK economy over the next four years after faster than expected cost-cutting slashed subsidies for the technology by half. The Government’s latest auction for support contracts, released this morning, shows that offshore wind costs have halved in the last five years to under £58 for every megawatt-hour of electricity produced, even lower than the estimates given by experts in the run-up to the results. The lower costs mean more wind farms will be able to apply for the £294m funding pot, bringing an investment surge of £17.5bn into the UK. The boom is even greater than the £11bn predicted by Renewable UK as recently as last week. “We knew today’s results would be impressive, but these are astounding," said Hugh McNeal, chief executive of Renewable UK. "Record-breaking cost reductions like the ones achieved by offshore wind are unprecedented for large energy infrastructure." Read Jillian Ambrose's full report here 10:39AM Insurers rebound as Hurricane Irma payout fears recede Flooded streets in Havana which was battered by Hurricane Irma Hopes that the damage caused by Hurricane Irma will be less severe than expected has lifted the Lloyd's of London insurers heavily exposed to events in the US this morning. European insurers retreated last week on fears of huge payouts in the aftermath of the two hurricanes that have left a trail of destruction in the Caribbean and southern US. The damages could, however, come in at less than $50bn compared to a previous estimate of around $192bn, according to LCG analyst Ipek Ozkardeskaya. On the FTSE 250, Lancashire Holdings and Beazley have jumped 7.5pc and 5.7pc, respectively, while the Stoxx 600 insurance index, which tracks the performance of all the large insurance companies in Europe, has enjoyed its best day since April, rising 2pc. 10:10AM AstraZeneca jumps to the top of FTSE 100 on positive drug trials AstraZeneca chief executive Pascal Soriot had been rumoured to be leaving for Israeli rival Teva Pharma giant AstraZeneca leads the blue-chip stocks in London this morning after reporting positive results from two phase III lung cancer drug trials. The Flaura Tagrisso and Pacific trials data beat "already high expectations", commented Liberum analyst Roger Franklin. He said: "The Flaura Tagrisso data delivered almost exactly what was expected at progression-free survival but with the kicker of positive early overall survival trends. More importantly, in Pacific, the magnitude of the progression-free survival benefit over placebo was truly impressive " Rebound of #ASTRAZeneca from end-July 5mth lows continues, +2.4%. Drug that saw setback in advanced cancer shows promising stage 3 data ^KO— City Index (@CityIndex) September 11, 2017 AstraZeneca's shares crashed 15pc in July following poor results in its MYSTIC lung cancer drug trial. However, it has slowly clawed back value since and today's 1.9pc rise leaves it just 4.6pc short of its share price just before the MYSTIC trials disappointed. Its chief executive Pascal Soriot was rumoured to be on the verge of jumping ship to rival Teva earlier this summer but the Israeli company finally filled its vacancy this morning with Kaare Schultz  from H. Lundbeck A/S. 9:48AM Carillion confirms departure of finance boss amid string of management changes Carillion is reeling from a chaotic few months Troubled support services firm Carillion has confirmed the departure of its finance director as it announces a string of changes to its management team. It was reported over the weekend that finance boss Zafar Khan was due to step down from the business, which has lost almost £800m from its market capitalisation in recent weeks. In a statement to the stock market, Carillion said Mr Khan had left the company with immediate effect. He has been replaced by Emma Mercer, who has previously served as finance director of Carillion's UK construction business, as well as chief financial officer and senior vice president of Carillion Canada. Carillion shares have fallen 4.3pc this morning. Read Sam Dean's full report here Carillion 9:25AM ABF dips despite lifting its outlook on strong Primark performance Primark's strong performance has lifted owner ABF's guidance for the year Associated British Foods is the biggest laggard on the FTSE 100 this morning, dipping 2.1pc, despite lifting its full-year guidance as sales and margins improve at its key Primark business. ABF said that the discount fashion retailer will enjoy a 13pc rise in sales on a constant currency basis despite the bleak consumer backdrop. The company is "well ahead of last year", according to Hargreaves Lansdown analyst George Salmon. He added on what the results mean for the rest of the struggling high street: "The UK has been singled out as performing particularly strongly, which would normally have positive read-across for the rest of the clothing sector. However, this probably isn’t the case this time. "We feel Primark’s good domestic performance is more a sign the UK consumer is tightening the purse strings and moving down the value chain as inflation outstrips wage growth." 9:12AM North Korea nuclear no-show lifts sentiment on the markets Rising risk appetite has been helped by North Korea's nuclear no-show North Korea's nuclear no-show over the weekend has lifted the mood on European stock markets this morning with all the major indices rebounding after a gloomy week of trading last week. There were fears that the rogue state would conduct its latest round of tests on Saturday, the nation's founding day, with tensions rising on the UN Security Council over whether to ban the country's oil imports.  Gold has been pulled off its 13-week high, bringing down shares in FTSE 100 precious metal miners Fresnillo and Randgold Resources, while safe haven the Japanese yen is the biggest laggard on the currency markets, slipping 0.5pc against the dollar. The mood has also been helped by Hurricane Irma's strength waning, according to Accendo Markets analyst Mike Van Dulken. He said: "This helpful combo has seen a return of risk appetite and corresponding fall in demand for safe havens. Equities and base metals thus called higher at the expense of Gold, Silver, bonds, the Japanese Yen and Swiss Franc." 8:38AM Agenda: Rising risk appetite pulls up European stock markets Primark owner ABF has retreated into the red despite lifting its full-year outlook Welcome to our live markets coverage. Rising risk appetite on the markets has lifted the FTSE 100 back into positive territory this morning with pharma giant AstraZeneca leading the index after jumping just under 3pc on successful lung cancer drug trial results. Four negative sessions last week pulled the UK's blue-chip index lower but the mood on European stock markets has improved over the weekend with the DAX and CAC 40 enjoying strong rebounds. Gold's retreat this morning as risk-on mood returns to the markets has wounded precious metal miners Randgold Resources and Fresnillo while ABF has nudged down despite raising its full-year outlook thanks to strong results in its Primark business. Asia stocks start the week higher in risk-on mood w/ Yen weaker, Treasury ylds rising as Irma weakens & UN to vote on oil embargo of N Korea pic.twitter.com/tZAHHjmUAB— Holger Zschaepitz (@Schuldensuehner) September 11, 2017 The economics calendar has a very light look to it but any wobbles in passing the Repeal Bill in parliament later today could stoke some movement on currency markets. With inflation and wage growth data due in the coming days, you couldn't blame traders for sitting on their hands until they get hold of this week's highlight economics figures. This morning, the pound has held onto its six-week high against the dollar from Friday, trading flat at $1.3190. Interim results: Restore, Luceco, Deltex Medical Group, EKF Diagnostics Holdings, Cloudcall Group, John Laing Infrastructure Fund, XLMedia, Pennant International Group, Crossrider Full-year results: Abcam, K3 Capital Group, 1pm Trading statement: Associated British Foods AGM: Real Estate Credit Investments, CH Bailey, Empyrean Energy

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30 августа, 12:55

Co-op closes in on £130m Nisa takeover as Sainsbury's pauses talks

Group enters exclusive negotiations with convenience chain after rival stepped back over competition concernsThe Co-op Group has entered exclusive talks to buy the convenience store chain Nisa in a deal worth more than £130m.Nisa, which is owned by thousands of independent operators and supplies 2,500 stores, said it had granted the Co-op a period of exclusive due diligence in the hope that a deal could progress “as quickly as possible”. Continue reading...

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22 августа, 21:12

The Guardian view on grocery wars: Lidl Britain | Editorial

Discount stores are upping their game. They have learned that price isn’t everythingBritish supermarkets were once an established social ecosystem: Waitrose and Marks & Spencer catered for the wealthy, Asda for the hard up, and Tesco and Sainsbury’s for everyone in between. Then a foreign species disturbed it. In the early 1990s, German discount stores Lidl and Aldi arrived in Britain, catering mostly for those who couldn’t afford to go anywhere else. Now they respectively make up 5.2% and 7% of the market, and are stuffed with middle-class shoppers, who shun Sainsbury’s Pimm’s for “Jeeves”, Lidl’s own brand version. On Tuesday Lidl overtook Waitrose to become Britain’s seventh largest grocer. It now has plans to open 60 new UK shops a year.The success of these budget shops can be partly explained by a decade of stagnant incomes and government austerity. The depth of the recession, and now rising food price inflation, encouraged people to hunt down the cheap deals (one survey claims Lidl beats other stores on price by some 15%). It is also down to altered social trends. When faith in the banks took a hit in 2008, loyalty to other institutions, including large superstores, did too. Shopping habits became more fragmentary: people carrying their designer handbags would also wear socks from Primark (the effect is known as “Primarni”). If you bought your avocados in Waitrose, you might also buy your milk from Morrisons or Aldi. And as more young people head online for their groceries, supermarkets are competing over a population of ageing shoppers who have the time to look around for the cheapest option. Continue reading...

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16 августа, 12:36

Britons to throw away £428m worth of barbecue food in August, study reveals

Exclusive: Nearly 12m barbecues in the UK likely to over-cater with food ranging from salads to burger rolls ending up in binsIt’s symbolised by dismal burgers and carbonised sausages served on paper plates with a splatter of ketchup. Yet with the great British summer well under way, Britons are this month set to throw away a staggering £428m worth of barbecue food, research reveals. In August the nation will brave the changeable weather to enjoy nearly 12m barbecues, with people on average either hosting or attending at least two of the seasonal gatherings. The new research from supermarket chain Sainsbury’s shows that hosts typically over-cater to impress friends and family, with more than half (49.2%) putting on a larger than necessary spread. Continue reading...

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14 августа, 19:31

Sainsbury's Nisa takeover talks paused after competition concerns

Co-op could pounce on grocery wholesale group after supermarket cools on dealSainsbury’s exclusive talks on a £130m takeover of grocery wholesale group Nisa have ground to a halt over fears of intervention by competition authorities.The exclusive talks ended late last week after the Competition and Markets Authority expressed serious concerns about a similar, but much larger, merger between Tesco and the grocery wholesaler Booker. Continue reading...

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11 августа, 09:01

Sainsbury’s says no to replacement for faulty Hotel Chocolat gift card

My friend bought the voucher from the supermarket but it didn’t workI was given a £25 Hotel Chocolat gift voucher by a friend who bought it from Sainsbury’s. When I tried to use it, the card could not be activated. A Hotel Chocolat store manager spent 15 minutes swiping it through machines then phoned the head office. He was told the card would have to be returned. But Sainsbury’s declared the card had been activated so there was nothing it could do. My friend’s local Sainsbury’s said it may be able to help if she returned the card. I have requested the card back from Sainsbury’s but have had no reply. Continue reading...

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06 августа, 19:17

Sainsbury's cost-saving measures will cut 1,000 head-office jobs

McKinsey, the management consultancy, is looking for ways that supermarket can reduce its headcount in next round of efficiency drive.Sainsbury’s is to cut more than 1,000 jobs at head office as part of a fresh efficiency drive designed to save £500m.The UK’s second-largest supermarket chain has drafted in McKinsey, the management consultancy, to draw up a headcount reduction plan. All the big supermarket chains have announced job cuts in recent years as they seek to compete with the fast-growing discounters Aldi and Lidl. Continue reading...

24 июля, 12:19

Asda планирует приобрести B&M European Value Retail

Как заявляют осведомленные источники, компания Asda, являющаяся британским подразделением американской сети Wal-Mart Stores, рассматривает возможность приобретения сети магазинов сниженных цен B&M European Value Retail, расположенной в Великобритании. Сообщается, что Asda готова предложить 4,4 млрд фунтов стерлингов ($5,7 млрд). Источники, знакомые с ситуацией, отмечают, что Asda и B&M находятся пока на начальной стадии переговоров, а представители самих компаний данную информацию не прокомментировали. Стоит отметить, что B&M является третьим по объемам годовых продаж представителем сектора ритейл в Великобритании после Tesco и Sainsbury's.