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UK Supermarket Wars: Aldi Overtakes Waitrose

Aldi moves up the ranking

German grocery chain Aldi has become Britain’s sixth largest supermarket, according to the latest grocery share figures from Kantar Worldpanel. In the 12 weeks to 29 March, Aldi had a 5.3% share of the grocery market boosting its sales 16.8% during this period. Waitrose only had a market share of ...

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UK service sector growth accelerates

PMI figures for services indicate faster 2015 growth than in the same period in 2014

Activity in the UK’s service sector has accelerated to its fastest pace since August last year, according to a survey. The Markit/CIPS Purchasing Managers’ Index (PMI) survey rose to 58.9 in March, its strongest reading since August last year and up from the 56.7 recorded in February. Any reading below ...

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Euro zone manufacturing boosted by weak euro

Manufacturing activity across the euro zone accelerated faster than expected

Growth of the euro zone manufacturing production accelerated to a ten-month high in March while the weak Euro boosts exports, according to business survey. The release by Markit’s final March manufacturing Purchasing Managers’ Index (PMI) shows that the manufacturing sector had reached a 10-month high of 52.2. It has been ...

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UK introduces Google Tax today

Firms that move profits overseas are now subject to the Google Tax

The Budgetary measure has been introduced today and companies that move their profits overseas to avoid tax will be subject to a “diverted profits tax”, also known as the Google Tax. The tax follows criticism of multi-national companies such as Google, Starbucks, Amazon and Apple. Some of those companies are ...

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Financial well-being in the UK improved in 2014

Optimism in UK households has increased in the 2014

 The financial well-being of UK households has improved in 2014, however, it also revealed that the overall situation has not significantly improved compared to five years ago, according to a report by the Office for National Statistics (ONS). The report showed that Read Household Disposable Income (RHDI) had increased by ...

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More firms failing to pay minimum wage named and shamed

Government continues to name National Minimum Wage offenders

 Ministers have publicly named another 48 employers— amongst those are French Connection and Foot Locker— that have paid their workers less than the minimum wage. The companies owe workers £162,000 and face fines of £67,000. The companies span across the fashion, publishing and hospitality sector. The accused companies have 28 ...

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Greek and German leaders meet amid cash shortage fears

Greek Prime Minister Alexis Tsipras and the German Chancellor Angela Merkel have struck conciliatory tones at their Berlin summit on Monday, but remained vague on how to prevent Athens from running out of money. The closely-watched meeting between Tsipras and his German counterpart comes as both sides snipe over Greece’s ...

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