Marmitegate, Sky slips and Sports Direct: Today's top City headlines

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Unilever pledged to play hardball in its stand-off with Tesco as the consumer goods giant demands higher prices.

Sports Direct’s acting finance boss has quit just days after the retailer warned of a possible £35 million hit from the plunging pound.

Rents across London and the rest of the country hit an all-time high as students searched for somewhere to live before starting their course.

Sky added fewer customers than usual in the past three months, blaming the Olympics and Euro 2016 for slowing sales.

Scandal-torn US bank Wells Fargo parted company with chief executive John Stumpf last night but immediately ran into criticism over the choice of his successor, Tim Sloan. Sloan was labelled “part of the problem” by a former employee.

High Street stalwart WH Smith is expecting a strong Christmas for book sales as customers continue to turn their backs on e-readers.

Game Digital said its roll-out of gaming arenas to revitalise stores has been held up by sluggish broadband, as it revealed another slide in full-year sales.

Jittery punters took their cash off the table over the summer as Brexit threw investment plans up in the air, according to the UK’s biggest funds supermarket Hargreaves Lansdown.

Samsung tried to take control of its smartphone crisis, offering money off for customers in South Korea to swap the exploding Galaxy Note 7 for other models.

Car parts maker TI Fluid Systems today became the latest company to shelve plans for a London listing as Biffa’s float hangs in the balance.

Economic analysis:

Russell Lynch reports on the subtle sexism that freezes women out of economics.

“This matters because the male-heavy dominance of economics risks skewing policy.”

Comment highlights:

Jim Armitage weighs in on Marmitegate.

“Funnily enough, nobody recalls any rush by Unilever to cut prices when the pound was strong.”

Theresa May cannot bypass parliament on Brexit, argues Anthony Hilton.

“Given an Act of Parliament got us into the EU, should it not also take an Act of Parliament to get us out?”

Secrets of my success:

Angela Brav, chief executive for Europe at InterContinental Hotels, explains how she climbed the career ladder. Seek out mentors, accept help and stick things out, she says. 

Market update:

The FTSE 100 slipped back below 7000, off 39.52 points to 6984.49 as miners sank on weak trade data from China.

Going up: Hochschild Mining, Booker Group, Plus500

Going down: EnQuest, BHP Billiton, Rio Tinto

Source Article from http://www.standard.co.uk/business/marmitegate-sky-slips-and-sports-direct-todays-top-city-headlines-a3368566.html

October 13, 2016 |
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