The Business of Rugby

The rugby world cup is finally here, teams from all over the world will gather in the UK, to compete on the biggest stage in rugby. But how will this impact businesses in the UK?.... Major sporting event like the RWC have huge economic value, with millions of supporters expected to visit the UK over the coming weeks, many businesses have an opportunity to capitalise on this major event. It is estimated that the RWC will generate £2.2billion of output into the UK economy which will result in £982 million of value added to national GDP. More international visitors are expected than any other Rugby World Cup in history, there has been £85 million invested in infrastructure, 41,000 jobs to be supported around the country and the economic benefit will be shared around 11 host cities.

Rugby World Cup

Poundland Merger with 99p Stores

The UK competition regulator has granted permission for discount retailer Poundland to acquire its biggest rival, 99p Stores. The Competition and Markets Authority (CMA) said that the £55m merger would not cause a "substantial lessening of competition". It said customers would not face a "reduction in choice, value or quality of service as a result of the merger". The CMA's ruling was provisionally published in August. Both Poundland and 99p Stores sell fast-moving general merchandise, normally for a fixed single price. The CMA believes supermarket chains and other discounters, such as Poundworld, will counterbalance any effect caused by the merger. Poundland said it would now complete the takeover of its rival, announced in February, by the end of the month.It plans to create a network of 800 shops.

Poundland Merger

Newcastle International Business Park

Agents have been appointed to a £100m business park development set to create more than 2,500 jobs. UK Land Estates and Newcastle International Airport have outline planning permission for Newcastle International Business Park, a prospective development set in 50 acres of development land which will provide more than one million square feet of business space. A new website has been launched to highlight the park’s potential offering, giving potential tenants a first look at how it will look in a series of CGIs. Once completed, the whole development will incorporate offices, industrial and hanger accommodation, alongside the existing airport and freight accommodation and office facilities.

New Business Park

Lidl Higher Wage

Lidl has said it will become the first UK supermarket to implement the minimum wage as recommended by the Living Wage Foundation.  From October, Lidl UK employees will earn a minimum of £8.20 an hour across England, Scotland and Wales, and £9.35 an hour in London, the supermarket said.  The Foundation will announce a change in its recommended rates in November.  The rate is different from the National Living Wage as set out in the Budget. Lidl said that if the Living Wage Foundation raised its recommended rate in its annual announcement in November, Lidl would adjust its minimum wage accordingly. Currently, Lidl pays its staff a minimum of £7.30 an hour and £8.03 an hour inside London. The Living Wage Foundation's current recommended minimal hourly rate is £7.85, and £9.15 inside London.

Lidl Higher Wage

Morrisons Shuts Up Shops

Supermarket chain Morrisons is to close 11 stores with the potential loss of 900 jobs as part of plans to transform the company's fortunes. It also reported a 47% drop in half-year pre-tax profit to £126m. Chief executive David Potts, who started in March, said he regretted the proposed closure of the 11 stores. On Wednesday the retailer said it was selling 140 loss-making "M" local convenience stores for about £25m. The shops will be rebranded as "My Local". The 2,300 staff will be kept on, with an extra 200 jobs to be created by reopening 10 shops that are currently closed. This forms part of the company's £1bn cost saving programme, as it now tries to concentrate on its core supermarket business.

Morrisons Shuts Stores

Queen Flakes

Kellogg's has marked Queen Elizabeth II's record-breaking reign with a creation of what it reckons is the world's poshest cereal: Queen Flakes. The limited edition concotion is on sale exclusively at Manchester's Black Milk Cereal Dive at £6.30 a bowl. The cereal is made up of HRH's favourite cereals Kellogg's Corn Flakes and Special K which have been decorated with gold leaf. They have also incorporated macadamia nuts and edible jelly diamonds and pearls. Kelloggs wanted to pay tribute to the Queen on her spectacular reign as they are an official supplier to the palace. 

Queen Flakes

Talking Vending Machines

MK Taxi Company is one of the first Japanese employers to install a vending machine that can be programmed to talk in different Japanese dialects. Drivers using the machine are greeted by a number of different phrases in the voice of President Aoki, including “Drive safe without any accident” and “Groom yourself well and smile”. A Japanese beverage maker called Dydo Drinco is behind the machines, which can be programmed to give a message when someone inserts money. Dydo Drinco came up with the idea to foster better communication in the workplace, the Japan Times reports.

Talking Vending Machines