Worlde Sold

 

The inventor of word game sensation Wordle has spoken of being overwhelmed by its success, following a sale to the New York Times (NYT). Software engineer Josh Wardle released the free simple online game in October, and has now sold it for an undisclosed seven-figure sum. He said the game, which has millions of players, "has gotten bigger than I ever imagined. It has been incredible." The NYT wants to use the game to boost its online subscriptions. The media group said it will "initially remain free" to play, raising questions that the intention in the long term is to charge. Mr Wardle always wanted the game to remain free, but the unexpected success of something he devised during lockdown for just two people - him and his partner - has come as a shock. He said: "It has been incredible to watch the game bring so much joy to so many and I feel so grateful for the personal stories some of you have shared with me - from Wordle uniting distant family members, to provoking friendly rivalries, to supporting medical recoveries.

Wordle

Jacked It In

 

Tesco has said it will close down seven of its Jack's stores, while the remaining six branches will be converted into Tesco superstores. The move will affect 130 jobs but Tesco said it will try and find alternative roles for the staff affected. Tesco also said that meat, fish and deli counters at 317 store sites would be also be shut down because of changes in customer demand. It launched Jack's in 2018 to tackle the threat from rivals Aldi and Lidl. Tesco said that Jack's had enabled it to bring in new customers from other supermarkets. Jason Tarry, chief executive of Tesco UK and Ireland, said: "We have learnt a huge amount from Jack's and this has helped Tesco become more competitive, more efficient and strengthened our value proposition, including through the launch of Aldi price match." Jack's stores sold 2,600 products - far fewer than the 35,000 carried by a Tesco supermarket - with 1,800 branded "Jack's". In the first six months after the launch, Tesco had planned between 10 and 15 Jack's stores for new locations, next to existing Tesco stores, and a small number of converted Tesco stores but a total of 13 were built. Staff working on the meat, fish and hot deli counters listed for closure in 317 of Tesco's stores will also be offered different roles.The supermarket chain said the changes will "ensure" Tesco remains "focused and competitive in a fast-changing market".

Jacks

Record High Inflation

Inflation is at its highest rate for 30 years, having risen to 5.4% in the 12 months to December. The jump in the cost of living, driven largely by rising fuel and energy costs, puts further pressure on households across the UK. Inflation is the rate at which prices are rising. If the price of a bottle of milk is £1 and it rises by 5p, then milk inflation is 5%. You may not notice price rises from month to month. But right now, prices are rising so quickly that average pay is not keeping up. It means that the money people earn does not go as far. The main reason is the rising global price of energy. This has meant higher energy and transport bills for businesses, many of whom pass on the extra costs to customers. Supply problems and higher shipping costs also continue to hurt businesses. Next, the High Street retailer, has admitted its prices could rise by up to 6% this year to keep up with higher costs. Staff shortages are a particular problem in the UK, due to Brexit and the pandemic, and are prompting some employers to raise wages.

Inflation

Primark Job Cut

The company behind retailer Primark and drinks Ovaltine and Twinings is cutting jobs and raising some prices as inflation pushes up its costs. AB Foods (ABF) said it would cut 400 jobs at Primark as part of a drive to simplify the management structure. The group, which has ingredients and agriculture arms, said higher energy and transport cost may push up prices. Despite inflation pressures and Omicron hitting Primark sales, ABF said the group had seen stronger trading. The company said the Primark job changes aimed to "provide clearer accountability, greater flexibility and more management support on the shop floor". Primark, which employs 29,000 staff in total across 191 stores in the UK, said it would be consulting with staff over the next couple of months. Kari Rodgers, Primark retail director for the UK, said: "The changes we're proposing will deliver a simplified and more consistent management structure across all of our stores, provide more opportunities for career progression and offer greater flexibility. However, despite inflationary pressures, Primark will not raise prices for its spring/summer range, ABF's finance chief told reporters. Other retailers have signalled prices increases, including Superdry. Boss Julian Dunkerton said that prices will increase by about 2% due to rising costs.

Primark

Microsoft $68bn Deal

Microsoft says it plans to buy major games company Activision Blizzard in a deal worth $68.7bn (£50.57bn). It would be the biggest acquisition in the company's history and is expected to be finalised in 2023. The move means Microsoft will take ownership of gaming franchises like Call of Duty, Warcraft and Overwatch. Microsoft claims it will help them grow their gaming business across mobile, PC and consoles along with providing building blocks for the metaverse. This deal is the biggest in gaming history and comes a year after Microsoft bought another influential gaming company Bethesda for $7.5bn. Activision Blizzard has studios around the world with nearly 10,000 employees.The games Activision Blizzard make, from Call of Duty to Candy Crush, are some of the most popular in the world. The company has nearly 400 million monthly active players in 190 countries and billion-dollar franchises. Microsoft say they are working to bring Activision Blizzard games to their Game Pass subscription service. The deal has shocked the gaming industry. In an era of increased competition, content is king. Currently it's reported that the PlayStation 5 is outselling Microsoft's latest generation of consoles. It's argued by some that this is down to the fact that in recent years Sony's machines have had more appealing exclusive titles - games that can't be played on a variety of devices. It is not yet clear if Activision Blizzard games, which at the moment can be played on both Microsoft and Sony consoles, will become exclusive to Xbox.

Microsoft Deal

Covid Sick Pay Cut

Ikea has cut sick pay for unvaccinated staff who need to self-isolate because of Covid exposure and in some cases for workers who test positive. The retail giant acknowledged it was an "emotive topic" but said its policy had to evolve with changing circumstances. From this week, sick pay cuts will be implemented at Wessex Water and in the US several major companies have started penalising unjabbed workers. It comes as firms struggle with mass staff absences and rising costs. At Ikea unvaccinated workers, who do not have mitigating circumstances, who test positive will be paid in line with company sick pay. Unvaccinated workers, without mitigating circumstances and required to isolate owing to being identified as a close contact, could now receive as little as £96.35 a week - the Statutory Sick Pay (SSP) minimum. Average wages at Ikea are between about £400 and £450, depending on location and, as is the case at many companies, staff get enhanced sick pay. Many companies complained of labour shortages throughout 2021, and now are seeing mass absences due to the more infectious Omicron Covid strain. Last year, supermarket Morrisons cut sick pay terms, while several companies, including banking giant Citigroup, introduced a "no jab, no job" policy. 

Covid Sick Pay

Baguette Price Wars

 

French bakers have taken aim at a major supermarket chain that is offering inflation-busting low prices for baguettes, saying the move will undermine competition in one of the country’s prized industries. The Leclerc group said in newspaper ads on Tuesday that “because of inflation, the average price of baguettes could increase significantly. That’s unthinkable”, vowing to cut into its profit margins to cap the cost of the signature French loaf at 29 euro cents (24p). Bakers, farmers and millers came together the following day to attack Leclerc for its campaign. In a joint statement, industry organisations said the average price for a baguette, an everyday staple in French households, had reached 90 cents, driven by rising costs for flour, electricity and labour. “We have to pay people properly, those who plant, harvest, who gather the grain and make flour, those who make the bread. What Leclerc is doing is shameful,” he said. Leclerc boss, Michel-Édouard Leclerc, told business magazine Capital that prices for baguettes in his shops has been about 30 cents “for at least a year.” “In an environment where [prices for] everything are going up and will keep going up, we wanted to send a signal that Leclerc will keep prices accessible for consumers,” he said.  Some 10 billion baguettes are consumed every year in France – some 320 every second.

Baguette War