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....The increase in employment had beaten consensus expectations of a 97,000 rise, she added. The City responded to the unemployment and earnings data by pushing up the value of the pound against the dollar by half a cent on foreign exchanges. ... [Read full article on Guardian ]
Wednesday 16th of August 2017 08:36:46 AM
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Latest Finance News related to Foreign Exchange

UK pay growth picks up as unemployment rate falls again image
Source : Guardian [Read Article] Wednesday 16th of August 2017 08:36:46 AM
....The increase in employment had beaten consensus expectations of a 97,000 rise, she added. The City responded to the unemployment and earnings data by pushing up the value of the pound against the dollar by half a cent on foreign exchanges. ...
World's biggest banks face £264bn bill for poor conduct image
Source : Guardian [Read Article] Monday 14th of August 2017 05:28:32 PM
....”. The foundation uses five-year rolling periods to try to provide a long-term analysis of the costs that banks face to rectify past mistakes, a major theme of the last 10 years, when they were also hit by penalties for rigging foreign exchange markets and interest rates (Libor). ...
Investors move to safe havens as US and North Korea trade threats image
Source : Guardian [Read Article] Wednesday 9th of August 2017 04:25:55 PM
....Kathleen Brooks, research director at City Index Direct, said: “The Swiss franc is the safe haven of choice today as risk sentiment gets hit from escalating nuclear fears between the US and North Korea. Unsurprisingly, the yen, which is still the second best performer in the G10 foreign exchange space, is playing second fiddle to the Swiss franc due to Japan’s proximity to the epicentre in Pyongyang. ...
Chancellor appoints Sir David Ramsden to Bank of England deputy role image
Source : Guardian [Read Article] Thursday 27th of July 2017 05:28:15 PM
.... That job has gone to Joanna Place, who was previously the central bank’s human resources director. Sir David has a long list of responsibilities in his new role, the Treasury said, including managing the government’s foreign exchange reserves and the gathering of market intelligence relevant to policy decisions. ...
Britons travelling to Europe offered just €0.88 for £1 image
Source : Guardian [Read Article] Friday 21st of July 2017 06:31:18 PM
. British holidaymakers heading to Europe for this weekend’s big getaway are being offered what may be the worst ever foreign exchange rates at British airports – in one case, just 88 euro cents for every pound they hand over. ...
Investors received record-breaking dividends in 2017, research shows image
Source : Guardian [Read Article] Monday 17th of July 2017 06:01:43 AM
....5% year on year, according to the latest analysis by Capita, a services company. The growth, which has come on top of rising share indices during 2017, is attributed to high special dividends and large gains because of movements in foreign exchange rates. ...
WARNING: Don’t get burnt for cash on your holiday image
Source : Daily Express [Read Article] Wednesday 5th of July 2017 11:21:00 AM
....Exchange shock. One of the worst things to do is buy travel money at the last minute from an airport foreign exchange kiosk. ...
UK in credit splurge despite pay squeeze, Bank figures show image
Source : Guardian [Read Article] Thursday 29th of June 2017 11:37:19 AM
....With the City detecting that the Bank is edging closer to its first increase in borrowing costs since the start of the financial crisis a decade ago, sterling briefly rose above $1. 30 on the foreign exchanges to its highest level since the general election three weeks ago. ...
Pound leaps as Carney says growth will be factor in interest rate debate image
Source : Guardian [Read Article] Wednesday 28th of June 2017 03:15:46 PM
. The governor of the Bank of England has sent the pound higher on the foreign exchanges after he warned that the continued growth in the UK economy would eventually lead to higher interest rates. ...
Bank of England rift as chief economist ponders interest rate rise image
Source : Guardian [Read Article] Wednesday 21st of June 2017 11:09:59 AM
....But Haldane, previously one of the most doveish members of the committee, said the balance of risks had shifted so that the dangers of moving too late outweighed those of raising interest rates too soon. Sterling rose on the foreign exchanges after Haldane spoke, with the City reassessing its view that interest rates would stay unchanged well into 2018. ...
Bank of England doves right to thwart hawks seeking interest rate rise image
Source : Guardian [Read Article] Thursday 15th of June 2017 01:18:37 PM
....On balance, the arguments in favour of leaving rates where they are look more compelling than the arguments for raising them. No question, though, that the announcement of the 5-3 vote took the City by surprise and led to a stronger pound – if only briefly – on the foreign exchanges. ...
How will the City react to a Tory or Labour general election victory? image
Source : Guardian [Read Article] Thursday 8th of June 2017 09:10:38 AM
....With the market positioned for a Conservative victory, any early sign that Theresa May’s party will loosen its grip on parliament will spark a market reaction. The pound will move first, as it trades round the clock in the 24-hour foreign exchange market. ...
China trade healthier than expected image
Source : BBC [Read Article] Thursday 8th of June 2017 08:22:28 AM
....5bn) from $38bn in April. Data released on Thursday also showed China's foreign exchange reserves rose by more than expected in May as tougher capital restrictions took effect. ...
How to make your holiday cash go further this summer image
Source : Daily Express [Read Article] Wednesday 7th of June 2017 07:05:00 AM
....Alternatively you can take out a pre-paid currency card, sold by Caxton, Debenhams, FairFX, ICE, Post Office, Seasons, Travelex and others, which you can use in millions of locations overseas. Andrew Brown, currency expert at Post Office Travel Money, warns against buying your holiday cash at the last minute: “Airport foreign exchange booth rates are punitive, so it pays to book in advance. ...
Travelex to withdraw Supercard due to ‘high costs’ image
Source : Guardian [Read Article] Saturday 27th of May 2017 06:00:20 AM
. Travelex is to scrap its popular Supercard that offered fee-free spending abroad, after the foreign exchange firm decided it was uneconomic. ...
Global stock markets: what's driving the record rises – and will they continue? image
.... Jasper Lawler, senior market analyst at London Capital Group, a spreadbetting firm, said: “Since the snap election was announced, the negative correlation between the British pound and the FTSE 100 has broken down. If the last two weeks are any guide, investors in UK stocks seem to be looking beyond foreign exchange. ...
Manchester United reports £3.8m loss but revenue rises image
Source : BBC [Read Article] Tuesday 16th of May 2017 11:46:12 AM
....7m profit in the same period last year. The Old Trafford club incurred higher player contract expenses, and was also hit by adverse foreign exchange movements. ...
Jobs market will suffer a Brexit slowdown, say experts image
Source : Guardian [Read Article] Sunday 14th of May 2017 11:01:29 PM
.... The rise is partly expected to reflect the timing of Easter, which this year fell in April, pushing up air fares in that month as a result. “The key influences this month are likely to be air fares, utility bills, continued foreign exchange pass-through and petrol prices,” said Alan Clark, an economist at Scotiabank. ...
Euro gives up gains as investors look to post-election France image
Source : Guardian [Read Article] Monday 8th of May 2017 04:43:41 AM
....”. However, Kazushige Kaida, head of foreign exchange at State Street in Tokyo, was more positive and did not see “see any changes in the euro’s uptrend”. ...
The secret history of inflation, from Black Wednesday to Brexit image
Source : Guardian [Read Article] Sunday 7th of May 2017 05:59:25 AM
.... Then came Chancellor Lawson’s obsession with the success of the Germans in controlling inflation; his instrument was to be membership of the European exchange rate mechanism. When Margaret Thatcher vetoed that, Lawson directed the Bank to intervene in the foreign exchange market so that the pound “shadowed” the Deutschmark. ...
Stock markets surge to new highs ahead of Trump's tax reform plan image
Source : Guardian [Read Article] Tuesday 25th of April 2017 05:35:25 PM
....Joshua Mahony, a market analyst at IG, said: “US markets are leading the way higher, as the excitement over Donald Trump’s corporate tax cuts takes the mantle from the French elections . Despite the optimism of Trump’s tax plan, we are seeing the foreign exchange trends [from Monday] come back into play, with extended gains for the euro ahead of Thursday’s ECB meeting. ...
IMF meeting drops anti-protectionism pledge image
Source : BBC [Read Article] Sunday 23rd of April 2017 09:58:15 AM
...."What that means is that if our markets are open, there should be a reciprocal nature to other markets which should be open as well," he added. He also called for the IMF to step up its surveillance of members' foreign exchange rates. ...
Protectionism is rising the world over. Our best defense is fighting inequality | Wally Adeyemo image
.... Yet it is true that changes to the international trading system are needed, especially non-tariff barriers to trade that harm fair competition. All credible ideas should be on the table, including potential penalties for countries with persistently large current account surpluses, particularly those that intervene in the foreign exchange market. ...
IMF says global financial stability has improved image
Source : BBC [Read Article] Wednesday 19th of April 2017 12:31:28 PM
....The report notes that share prices in countries with substantial manufacturing exports to the US - such as Mexico and Vietnam - have been relatively weak. Some have large needs for foreign financing (Poland and Malaysia, for example) while others have low levels of foreign exchange reserves - South Africa and Vietnam. ...
How much uncertainty can business take? image
Source : BBC [Read Article] Tuesday 18th of April 2017 01:57:40 PM
...."A snap election does potentially open the door to some market volatility in the coming months, though investors shouldn't let their investment decisions be dictated by swaying polls," he explained. Rupert Lee-Browne, boss of the foreign exchange firm Caxton FX, said he expected to see "even greater volatility in the value of sterling" from now until June. ...
Revealed: the huge profits earned by big banks on overseas money transfers image
....What the documents expose is just how much the big banks are making from giving customers poor exchange rates, with the bulk of their profits coming from the so-called “FX margin” rather than the fees directly charged. The FX (foreign exchange) margin is the difference between the exchange rates available in the money markets and the rate that a bank offers a customer. ...
Snack attack! Doritos and Coco Pops among latest products to shrink in UK image
....3% in the last three months, according to market research firm Kantar Worldpanel. A spokesperson for Peperami said: “Peperami is manufactured in mainland Europe and has been subject to rising commodity costs and foreign exchange pressure due to significant currency fluctuations. ...
Apple exit sends UK chip firm's shares into freefall image
Source : Guardian [Read Article] Monday 3rd of April 2017 08:10:18 AM
.... It offloaded its digital radio business Pure last September. The cost cutting and a foreign exchange boost helped return Imagination to profit in the first half following its worst annual loss the previous year. ...
Lloyd's of London plans to open Brussels office by middle of 2018 image
Source : Guardian [Read Article] Thursday 30th of March 2017 07:04:46 AM
....1bn of major claims, the fifth-highest since the turn of the century, mainly because of Hurricane Matthew, which hit the Caribbean and the east coast of the US, and the Fort McMurray wildfire in Canada. A lower underwriting result was offset by significantly improved investment returns, driven by a downward yield shift in bond markets, and foreign exchange gains, mainly caused by the pound’s slide since the Brexit vote. ...
Nervous markets take fright at prospect of Trump failing to deliver | Larry Elliott image
.... Investors believe a failure to secure agreement on Capitol Hill to repeal Barack Obama’s healthcare act – the new administration’s first legislative test – will lead to a further sell-off on Wall Street. On the foreign exchanges, money flowed out of the dollar and into the safe haven of the Japanese yen. ...
Q&A: What will happen if the Federal Reserve raises US interest rates? image
Source : Guardian [Read Article] Tuesday 14th of March 2017 07:08:31 PM
.... This rise was heavily trailed in recent weeks and has been priced in as a certainty by market participants in New York, London and Tokyo – though some would be surprised by a half-point rise. Turbulence could come from the foreign exchange markets if the dollar rises following a slump in the Turkish lira, Indonesian rupiah, Mexican peso or other developing world currency. ...
Iceland to end capital controls from 2008 financial crisis image
Source : BBC [Read Article] Sunday 12th of March 2017 03:14:37 PM
....For the past year, the government and Central Bank of Iceland have been lifting controls through what they say has been an "incremental, measured process that focused on protecting the currency, addressing a balance of payments problem and tempering shocks to the Icelandic economy". The country has also updated rules on foreign exchange and made special reserve requirements for new foreign currency inflows. ...
China's economic concerns mount as thousands gather for congress image
Source : Guardian [Read Article] Friday 3rd of March 2017 06:26:46 AM
....Traders will be looking for signs about whether the Beijing government is prepared to let the yuan fall further against the dollar and risk the wrath of US president Donald Trump, who has accused China of keeping the yuan low in order to boost exports to the detriment of US producers. However, the People’s Bank of China has burned through a trillion dollars of foreign exchange reserves since 2014 in order to keep the yuan from falling even further, according to Capital Economics, and traders believe Beijing could allow the currency to float more freely against the dollar. ...
FTSE 100 shrugs off fall in insurance shares image
Source : BBC [Read Article] Monday 27th of February 2017 09:27:14 AM
....25% higher after the housebuilder reported a 23% rise in annual profits and gave an upbeat description of recent trading. On the foreign exchanges, the pound edged lower against most other currencies, with analysts putting the fall down to speculation about another referendum on Scottish independence. ...
Qantas profits buffeted by competition headwinds image
Source : BBC [Read Article] Thursday 23rd of February 2017 01:43:50 AM
.... . The company did not give annual profit guidance as the short-term outlook remains subject to variable factors, including "oil price movements, foreign exchange movements and global market conditions". ...
British Gas price freeze is unlikely to impress customers image
Source : Guardian [Read Article] Sunday 19th of February 2017 07:00:02 AM
....6bn, but some of the shine will be taken off by the £245m fraud at HBOS, which has left it having to compensate victims. Meanwhile, Barclays could beat consensus forecasts due to foreign exchange movements, according to analysts at Investec. ...
Demand for gold hits four-year high after Brexit and Trump votes image
Source : Guardian [Read Article] Friday 3rd of February 2017 07:14:45 AM
....However, jewellery demand hit a seven-year low of 2,041. 6 tonnes in 2016 due to rising gold prices for much of the year, while central bank purchases were the lowest since 2010, due in part to increased pressure on foreign exchange reserves. ...
Trump’s trade advis​​er says Germany uses euro to 'exploit' US and EU image
....”. Vasileios Gkionakis, global head of foreign exchange strategy at UniCredit Research, said: “This is quite strong and unusual rhetoric coming from a very senior trade adviser to the US president. ...
Final US growth figures under Obama are a triumph – for Trump  | Larry Elliott image
....7 percentage points from growth in the final three months of 2016. This is not particularly surprising, given that the US dollar has been rising on foreign exchanges, which makes imports cheaper and exports less competitive. ...
Apple increases App Store prices by 25% following Brexit vote image
Source : Guardian [Read Article] Tuesday 17th of January 2017 10:31:05 AM
....99. Apple announced the price rises in an email to app developers on Tuesday, and told them “when foreign exchange rates or taxation changes, we sometimes need to update prices on the App Store”. ...
If the City vs Brussels is like a game of Jenga, it’s possible both sides could lose image
....What should Theresa May, when she speaks on Tuesday about her plans for the UK’s exit from the European Union – say about the City and financial services? As an opening pitch, she should take her cue from the governor of the Bank of England and remind the EU 27 that the UK – if only in this single commercial field – holds a strong negotiating hand. Mark Carney first made his point about the UK being “the investment banker for Europe” in November and last week’s reiteration put hard facts on the table for a second time: “If you rely on a jurisdiction [ie the UK] for three-quarters of your hedging activities, three-quarters of your foreign exchange activity, half your lending and half your securities transactions you should think very carefully about the transition from where you are today to where the new equilibrium will be. ...
Food prices to soar after sterling collapse, warn retail chiefs image
Source : Daily Express [Read Article] Sunday 15th of January 2017 12:01:00 AM
....Around half of the food consumed in the UK is imported. Supermarkets and other firms that do business overseas regularly buy foreign exchange derivatives from investment banks to protect themselves against adverse currency swings. ...
EU negotiator wants 'special' deal over access to City post-Brexit image
Source : Guardian [Read Article] Friday 13th of January 2017 07:15:54 PM
....Carney said other EU nations relied heavily on the City for their financial needs and could face serious problems if international banks based in London were no longer able to gain easy access to European countries and corporations. “If you rely on a jurisdiction [the UK] for three-quarters of your hedging activities, three-quarters of your foreign exchange activity, half your lending and half your securities transactions, you should think very carefully about the transition from where you are today to where the new equilibrium will be,” he said. ...
Toblerone maker to hike price of Cadbury's Freddo bars image
Source : Guardian [Read Article] Thursday 12th of January 2017 05:00:24 PM
.... Rival Mars has also shrunk its sharing bags of Maltesers by 15% as it looks for ways to offset rising production costs. Mondelēz said rising commodity costs and recent foreign exchange pressures meant its food products were becoming more expensive to make. ...
Mark Carney signals Bank of England may raise forecast for UK economy image
Source : Guardian [Read Article] Wednesday 11th of January 2017 07:34:33 PM
....Carney said other EU nations relied heavily on the City for their financial needs and could face major problems if international banks based in London are no longer able to gain easy access to European countries and corporations. “If you rely on a jurisdiction for three-quarters of your hedging activities, three-quarters of your foreign exchange activity, half your lending and half your securities transactions you should think very carefully about the transition from where you are today to where the new equilibrium will be. ...
US charges three foreign exchange traders image
Source : BBC [Read Article] Tuesday 10th of January 2017 11:28:46 PM
. Prosecutors in the US have accused three former currency traders at major banks of trying to rig foreign exchange (forex) rates in the banking industry. ...
Sir David Clementi: City grandee ready to do the business at the BBC image
Source : Guardian [Read Article] Tuesday 10th of January 2017 04:40:51 PM
....”. Jonathan Quin, chief executive of foreign exchange company World First, of which Clementi has been chairman since 2011, said: “He has always been very supportive, thoughtful, generous with his time and wise in his counsel. ...
Pound falls on May's Brexit comments image
Source : BBC [Read Article] Monday 9th of January 2017 11:15:35 AM
...."She said we will have full control of our borders, and given what the other side of the debate - the EU - has said, that's not compatible with full access to the single market, free movement of capital, free movement of goods and services. "That's the direct trade-off that the [foreign exchange] market is looking at. ...
UK firms brace for further Brexit price rises, surveys show image
Source : Guardian [Read Article] Monday 9th of January 2017 12:01:02 AM
....”. Economists have warned that the pound faces further swings on foreign exchanges with the triggering of article 50, expected by the end of March, to kick off formal talks to leave the EU. ...
Deutsche Bank reaches $7.2bn settlement with US in mortgages case image
Source : Guardian [Read Article] Friday 23rd of December 2016 05:16:46 AM
.... Three major probes remain. It still faces investigations into the alleged manipulation of foreign exchange rates, suspicious equities trades in Russia, as well as alleged violations of US sanctions on Iran and other countries. ...
Business and parliament must work together to avoid a 'cliff edge' Brexit image
Source : Guardian [Read Article] Friday 23rd of December 2016 12:01:01 AM
.... The “cliff edge” model of Brexit is dangerous for everyone, including the rest of the EU since the UK is “effectively the investment banker for Europe”, as Mark Carney put it last month. Given the City’s dominance in critical areas such as foreign exchange and debt issuance, a sudden rupture could increase the cost of borrowing across Europe. ...
Airbnb UK tax history questioned as income passes through Ireland image
Source : Guardian [Read Article] Monday 19th of December 2016 07:01:13 AM
....4m was taxable profit. The biggest cost recorded was a £100m foreign exchange loss caused by Airbnb receiving cash for rentals in multiple currencies and delays, sometimes of several months, between receiving payment from a guest and paying it out to a host. ...
The Crusader: She sent money to a wrong bank account, but who's to blame when it vanished? image
....But unlike the previous case, where a lot of the numbers were confused, Laura barely put a foot wrong. She transferred the money, using a speedy payment option, on September 2 to a foreign exchange account that her parents were planning to use when they went on holiday. ...
Mulberry slips into red but sales grow image
Source : Guardian [Read Article] Thursday 8th of December 2016 09:12:29 AM
....The company announced it was setting up a new business in Asia, a key luxury goods market, as it reported a loss before tax of £500,000 for the six months to 30 September, compared with a profit of £100,000 a year earlier. The firm blamed increased product investment of £1m and additional foreign exchange costs on overseas subsidiaries. ...
HSBC, JP Morgan and Crédit Agricole fined €485m by EU image
Source : Guardian [Read Article] Wednesday 7th of December 2016 10:22:06 AM
....Just months after fines for Libor rigging were slapped on banks, it emerged that other markets were being manipulated. Vestager said an investigation into the manipulation of foreign exchange markets was continuing and was “a very large complex case with many participants”. ...
Apple supplier Imagination Technologies jumps after restructuring image
Source : Guardian [Read Article] Tuesday 6th of December 2016 11:19:25 AM
....At Investec, analyst Roger Phillips said:. Interims are strong on a headline basis with a beat to revenue – both licence and royalty - and EBIT, and guidance retained for 2017 with the rider of a possible foreign exchange benefit. ...
With its deal on barrel quotas, Opec is back on the radar – for now image
Source : Guardian [Read Article] Wednesday 30th of November 2016 07:27:03 PM
.... Banks located in the UK are involved in over half the debt and equity issuance by non-UK borrowers in the European Union. Over three-quarters of the EU’s trading in foreign exchange and over-the-counter interest rate derivatives takes place in the UK. ...
Mark Carney: European economies face hit if cut off from City of London image
Source : Guardian [Read Article] Wednesday 30th of November 2016 11:41:08 AM
....“Additional risks to the euro area could emerge as a consequence of the UK’s withdrawal from the European Union. Banks located in the UK supply over half of debt and equity issuance by continental firms, and account for over three-quarters of foreign exchange and derivatives activity in the EU,” said Carney. ...
Bank governor Mark Carney warns on household debt image
Source : BBC [Read Article] Wednesday 30th of November 2016 08:16:50 AM
....UK banks are particularly exposed to events in Europe. They provide more than half of debt and equity issuance by continental firms, and account for more than three quarters of foreign exchange and derivatives activity in the EU, it noted. ...
ECB's Mario Draghi urges UK to disclose Brexit plans image
Source : Guardian [Read Article] Monday 28th of November 2016 06:05:12 PM
....At the weekend, it emerged that the Bank of England governor, Mark Carney, had held talks with senior City figures about negotiating a “transitional arrangement” to protect financial companies from the dangers of suddenly losing full membership of the single market. Paresh Davdra, the chief executive of foreign exchange firm RationalFX, said central bankers were becoming frustrated that elected politicians were not pulling their weight. ...
Bonds sell-off continues as investors bet on rate rise image
Source : BBC [Read Article] Monday 14th of November 2016 12:45:59 PM
...."Clearly the market has settled on a 'buy dollar' theme, on the basis there will be a debt-fuelled US fiscal binge that will push up inflation," said TD Securities' European head of currency strategy Ned Rumpeltin. "There are signs that higher bond yields and the knock of a stronger US dollar are having a domino impact, taking down the weakest risky assets first, before moving on to the next," said Deutsche's global co-head of foreign exchange, Alan Ruskin. ...
India rupees: Chaos at banks continues after ATMs reopen image
Source : BBC [Read Article] Friday 11th of November 2016 07:17:35 AM
....A new 1,000 rupee note "with a new dimension and design" will also be introduced in due course, a senior government official said on Thursday. They can purchase foreign exchange equivalent to 5,000 rupees using these bank notes at airport exchange counters until midnight on Friday. ...
Indian rupees: Holders of notes abroad face tough battle image
Source : BBC [Read Article] Thursday 10th of November 2016 12:32:58 PM
....". Travelex, a foreign exchange company, said on Wednesday that customers with a buyback guarantee from when they purchased the rupees would be able to swap them back. ...
Money for nothing image
Source : BBC [Read Article] Thursday 10th of November 2016 12:18:12 AM
.... I am educated and know what to do, but imagine the plight of a vegetable seller or milkman?". Chiara Rossi, an Italian national who has been in India for six weeks, said the fiscal move had left her at a loss as to what to do with her foreign exchange. ...
How America's new president will affect the global economy image
Source : Guardian [Read Article] Wednesday 9th of November 2016 04:36:23 PM
.... Like Asia, the eurozone is heavily reliant on exports as a source of growth. These could be affected in two ways: through a more restrictive US trade regime and if a weaker dollar drives up the euro on the foreign exchanges. ...
Globalisation backlash enters new phase with Trump win image
Source : Guardian [Read Article] Wednesday 9th of November 2016 10:09:27 AM
.... Trump marketed himself as the outsider. So what are the implications of his victory? Financial markets seemed reassured by the president-elect’s victory speech and the hope that Trump might not be as bad as feared meant the initial reaction on stock markets and on the foreign exchanges was muted. ...
Toblerone triangle change upsets fans image
Source : BBC [Read Article] Tuesday 8th of November 2016 05:23:41 AM
....Other food manufacturers have previously announced rises in their product prices, blaming the falling value of the pound following the UK's decision to leave the EU. A spokeswoman for Mondelez acknowledged that the foreign exchange rate was currently "not favourable", but added: "This change wasn't done as a result of Brexit. ...
Walkers and Birds Eye set to raise prices as pound weakens image
Source : BBC [Read Article] Sunday 6th of November 2016 04:36:07 PM
....It said the move was part of ongoing reviews of its price and promotion schemes. The firm said in a statement that "fluctuating foreign exchange rates" were among the factors involved. ...
Birds Eye and Walkers ask supermarkets for up to 12% price rises image
Source : Guardian [Read Article] Sunday 6th of November 2016 12:46:50 PM
....A Walkers spokesperson said: “Whilst our potatoes are British, we import a number of different ingredients and materials to produce a finished packet of Walkers crisps such as seasonings, oil for frying and key raw materials used in our packaging film. “Fluctuating foreign exchange rates, supply pressure on key ingredients and the weakened value of the pound are impacting the import cost of some of our materials and affecting the price of material costs based on commodities that are traded in foreign currencies. ...
A post-Brexit recovery – for Gove at least image
Source : Guardian [Read Article] Sunday 6th of November 2016 07:00:09 AM
....Competition is increasing and Berenberg analysts said: “Following two years of investment, management has targeted profit growth from 2018 and beyond. We remain cautious, however, given the low-growth markets in which Halfords operates, foreign exchange headwinds and cost pressure driven by its aspirations to grow into the premium cycling market. ...
Egypt allows its currency to float freely image
Source : BBC [Read Article] Thursday 3rd of November 2016 09:09:12 AM
....The move is a key requirement of the International Monetary Fund (IMF), from which Egypt is asking for a $12bn loan over three years. The IMF's mission chief for Egypt, Chris Jarvis, said the move would make more foreign exchange available and would "help foster growth, job creation and stronger external position for the country". ...
Typhoo Tea: Cost of a cuppa to go up image
Source : BBC [Read Article] Friday 28th of October 2016 08:12:13 PM
.... That's when we'll see the biggest impact," says Mr Sables. "The generally accepted view is 5% - that's an understatement of what we're seeing on the foreign exchange. ...
Whitbread lifted by Costa and Premier image
Source : BBC [Read Article] Tuesday 25th of October 2016 08:40:58 AM
...."We are trialling new 'finer' coffee concepts, introducing a new fresher food range and making good progress rolling out our Costa Pronto and Drive Thru formats," said Ms Brittain. The group said it would "monitor and evaluate" risks and uncertainties including the risk of a wider macroeconomic effect as a result of the UK leaving the EU, including foreign exchange and interest rate fluctuations. ...

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