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Sky News
Supermarket price inflation at 14-month high – adding to cost of living pressure
Supermarket price inflation has reached its highest level for more than a year adding to cost of living pressures, according to industry figures.Grocery price inflation reached 2.1% in the four weeks to 31 October according to latest data compiled by Kantar. “Prices are rising fastest in markets such as savoury snacks, canned colas and crisps …
Business
Sky News
Primark sees supply chain disruption result in limited availability on ‘small number of lines’
Primark is experiencing “limited availability” on some of its product lines due to supply chain disruption, the retailer’s owner has said.Associated British Foods (ABF) said Primark had been hit by temporary closures and congestion at ports and a shortage of shipping containers. That was delaying the handover of stock from suppliers and delivery to stores, …
Business
Sky News
Shoppers bringing forward Christmas purchases due to supply chain worries – poll
Shoppers are buying Christmas gifts earlier than usual because of worries about supply chain problems, new figures suggest.A poll by Barclaycard showed that around a third said they were changing their approach to festive shopping this year due to fears over shortages, with more than half of these bringing forward purchases. The figures were published …
Business
Evening Standard
Cake Box founder says rising profits prove business is ‘pandemic proof’ – that in any crisis people want a cake
Recession-born Cake Box, the Enfield-headquartered egg-free bakery chain, just reported pre-tax half-year profits up 122% – and its co-founder claims this proves the business is pandemic-proof because in “any crisis” people want to buy a cake. The AIM-listed firm, which floated in June 2018 at 107p per share, now has 174 sites nationwide – 35 …
Business
Evening Standard
Elon Musk of Tesla will spend $6 billon tackling hunger if the UN convinces him it would help — would it?
Last week, Elon Musk pledged to sell $US6 billion of Teslastock and donate the proceeds to the United Nations’ food agency if it could demonstrate how the money would solve world hunger.Here, Ryan McNelley, managing director in Kroll’s Portfolio Valuation service line explores what would actually go into quantifying this value.Q: Elon Musk is saying …
Business
Sky News
SoftBank boss confident big bets can pay off again despite several ‘golden eggs’ dying
For a company often hailed for its forward thinking and for the big bets it places on future business trends, Softbank seems at times to be terribly accident-prone.The much-heralded tech investor, best known in Britain for its takeover of the chip designer ARM Holdings shortly after the Brexit vote, blundered two years ago with a …
Business
Sky News
Wealth manager Succession joins industry deal rush with £400m sale plan
One of Britain’s largest independent wealth management firms is preparing to join an industry-wide deluge of corporate activity by putting itself up for sale for about £400m.Sky News has learnt that the majority shareholder in Succession Wealth has picked bankers to undertake a review of strategic options for the business. City sources said on Monday …
Business
Sky News
Transatlantic travel, skills shortage and cricket team to go green
Flights between the UK and the United States return in a major boost for transatlantic trade and tourism – as Ian King finds out how the West Indies cricket team aims to go green by offsetting its carbon emissions.:: Listen and subscribe to The Ian King Business Podcast here Advertisement
Business
Sky News
Tesla shares fall after Elon Musk’s plan to offload 10% of his stock is backed by Twitter users
Tesla shares have fallen after a majority of Twitter users polled by Elon Musk voted for him to sell 10% of his stock.It came after Mr Musk, chief executive of the electric car maker and the world’s richest person, took the highly unusual step of seeking views on social media about whether to offload the …
Business
Evening Standard
Go-Ahead warns bus division recovery ‘slowing’ as Southeastern talks with transport ministry continue
Rail operator Go-Ahead saw shares suffer on Monday morning after warning investors its bus division has seen its post-lockdown recovery falter. The FTSE 250 firm said passenger numbers “steadily increased” to 70 – 80% of average pre-Covid levels on its regional bus services between early July and end October.But the firm warned it has seen a …
Business
Evening Standard
Playtech confirms Gopher exploring counterbid to Aristocrat takeover
London-listed gambling software group Playtech has confirmed Gopher Investments is exploring a bid for the company to rival a £2.7 billion takeover offer from Australian firm Aristocrat Leisure. Last month Playtech agreed to a takeover by the slot machine developer which valued the FTSE 250 firm at 680p a share. Sky New reported yesterday that …
Business
Business Live
Second-hand fashion clothing firm Loopster collapses
A second-hand clothing online business, backed with a six-figure equity investment from the Development Bank of Wales, has collapsed. Newport-based Loopster was launched in 2017 by Jane Fellner. To support its scale-up plans in 2020 it secured a seed funding round of £500,000, which included a £250,000 equity investment contribution from the Development Bank of …

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