Wednesday 10 January 2018

Company news, markets and financial talking points, available from 8am Monday to Friday

Morrisons and Sainsbury’s enjoy surprise Xmas cheer

Morrisons has defied forecasters with a bigger-than-expected rise in Christmas sales thanks to its premium food range and growing wholesale business. The retailer posted a 2.8% rise in like-for-like sales for the 10 weeks to January 7, significantly higher than analyst estimates of a 1.7% increase. Meanwhile, Sainsbury’s, has raised its profit guidance after “record” sales during Christmas week.

World Bank says global growth back at pre-crisis levels

Global growth is back at pre-crisis levels, according to the World Bank. It says that following a stronger than anticipated 2017, global economic growth is likely to speed up this year. It predicts that the world economy will expand by 3.1% this year before easing slightly – the first time since the financial crisis that growth is operating at its full potential.

Daily Mail at loggerheads with Virgin Trains

The Daily Mail has accused Virgin Trains of censorship after Richard Branson’s rail company announced it had stopped selling the newspaper on its services because it was “not compatible” with its brand. The Daily Mail said it was “disgraceful” that the company had announced it was “censoring the choice of newspapers it offers to passengers”. A spokesperson for Virgin Trains said it sold just one copy of the Daily Mail for every four trains.

Just Eat ‘dodging new rules’ with 50p charge

Just Eat has been criticised for introducing a 50p service charge on all payments. The controversial move came just days before its “rip-off” fee for card transactions was due to be banned. The online takeaway company, which is worth around £5.4bn and has 9m UK customers, was accused …read more

Source:: The Week – All news


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