New Coins

Large numbers on an entirely redesigned set of UK coins will help children to identify figures and learn to count, The Royal Mint has said. The coins will enter circulation by the end of the year, marking the new reign of King Charles III and celebrating his love of the natural world. The tails side of every coin from the 1p to the £2 will feature the country's flora and fauna. Old coins can still be used, with the new set struck in response to demand. Although cash use - and especially the popularity of coins - has been in decline in recent years, the Mint says heritage and need mean this change is still required. Definitive coins feature the standard designs seen on the majority of official currency. These designs stay the same for years or even decades. The coins follow centuries of tradition with the monarch now facing left - the opposite way to his predecessor. New banknotes featuring the image of King Charles are being printed in their millions but will not enter circulation until the middle of next year - some months after the coins.

New Coins

Refillable Milk Bottle

A dairy company has created what it claims is the UK's first washable and refillable plastic milk bottle. Abel & Cole, which has a dairy at Wroughton, Wiltshire, says the bottle can be refilled multiple times and won't cost the consumer any more. "They weigh 40g on average, compared to 200g for glass so there's less fuel used to transport them," said Ed Gosling, a Wroughton dairy farmer. "We've tested it for about 16 uses with washing," he said. Abel & Cole says 300,000 tonnes of carbon could be saved each year if the dairy industry switched to reusable plastic. Polypropylene is a hard-wearing plastic used in baby bottles "The customers will be positive about this because there's no loss in convenience," Mr Gosling said. "This bottle has been three years in the making, we've changed so much, and now it's signed off with the Food Standards Agency." Hugo Lynch, Sustainability Lead at Abel & Cole said: "Plastic is often seen as the enemy. "But we asked if it was better to use glass, which is heavier and more energy-intensive to make, or to go against the grain. "This is a more sustainable way to deliver and refill milk," he said.

Refillable Milk

Birkenstocks & Shares

German sandal maker Birkenstock has spent decades convincing shoppers that what might appear, at first glance, unattractive is actually desirable. That power will now be tested on Wall Street. The company's initial public offering priced the shares at $46 each, valuing the firm at roughly $8.6bn (£7.08bn) - double its worth in 2021. But shares started trading lower, reflecting doubts about how much more room there is to grow. The company, which traces its roots to an 18th Century cobbler and released its first sandal in 1963, has already come a long way. It found its first fans among hippie types drawn to the shoes' flexible, but sturdy support. Last year the company sold some 30 million pairs of shoes- despite lingering scepticism. The brands appearance in the recent Barbie movie increased demand by 340%. As shares start trading on the New York Stock Exchange, investors are facing the question of whether the company can maintain its momentum - and whether opening the firm up to the pressure of public markets for the first time in its long history will hurt or help.

Birkenstock

Onewheel E-stakeboards Recall

 

All Onewheel electric skateboards sold worldwide will be recalled after four people died while riding them. Future Motion, which makes Onewheels, told the BBC the recall applies to all customers, not just those in the US. A UK government spokesperson told the BBC it would make enquiries and "take action swiftly" if required. Future Motion said that UK customers could visit its website to view their options, which range from a software update to a $100 (£82) store credit, depending on the make and model of their skateboard. The watchdog said the four deaths were a result of head trauma, and the reports showed that in at least three of those incidents the rider was not wearing a helmet. Future Motion and the CPSC both encourage people to wear protective equipment while riding, such as helmets and knee pads. According to a legal document filed by the firm in September, it is facing 31 lawsuits in the US from people who "allege that they fell because the Onewheel stopped or shut off unexpectedly". It is legal to buy electric-powered devices such as e-skateboards and e-scooters and ride them on private land, but it is currently illegal to use privately owned ones on roads, pavements and cycle lanes.

Onewheel

Boohoo Slashes Sales Forecast

Fast fashion firm Boohoo is planning to make major cost cuts after it slashed its sales forecast. The retailer - whose brands include PrettyLittleThing - warned that sales could fall by up to 17% this year. Boohoo is facing tough competition from rivals such as Shein, while financially-stretched shoppers are also reining in spending. It said that it had identified £125m of cost savings it will make to try to get the business back on track. The online retailer has been making huge efforts to boost profits in recent months, starting to charge for returns and sourcing goods from Europe rather than from Asia. However, its half-year results showed pre-tax losses at the group widened to £26.4m, compared with £15.4m a year ago. Boohoo had made "substantial progress" on big targets, he added, including the launch of a US distribution centre and earmarking £125m in annual cost cuts to be made throughout its supply chains. It said it would focus on "more profitable" sales within its labels, after downgrading forecasts which previously suggested sales would remain flat or fall by up to 5%.

Boohoo

Could Rev Gum Crack The UK?

Blake Settle, a type-1 diabetic patient, wanted an energy shot to help study for his final exams at Texas University in 2019. Everyone else was drinking Red Bull, but Blake hated the taste of the no-sugar versions – and couldn’t drink the sugar-loaded straight red can. It turned out to be a light bulb moment. After a huge effort – and expense – on Research & Development, he came up with a formula, which he used to launch Rev Gum. The gum contains less than two calories per piece and delivers 100 milligrams of caffeine — the same amount of energy as a cup of coffee. It comes in six-piece packs in peppermint and spearmint flavours, with a suggested retail price of $2.99. Within two years, the gum was sold at 250 stores in Texas, Arkansas, Oklahoma and Alabama. Then, in September 2023, Blake secured a $6 million investment to back the full national launch of Rev Gum. Could the idea work in the UK? The only downside for a UK launch is the gum market dominance of Wrigley. It has a 94% market share.

Rev Gum

£22 Wedding Dress

 

Brides-to-be can usually be found browsing in chic boutiques or stuffy department stores but now Sainsbury’s is hoping it can persuade them to hit the supermarket aisle instead as they go in pursuit of the perfect wedding dress. This week its mass market fashion brand, Tu clothing, launched its first bridal collection. The initial offering features two dresses, with more “limited edition styles” due to drop in the next couple of weeks. Sizes range from a UK 8 to 24. A white sleeveless, pleated wedding dress costs £22 while a white bias-cut gown is £50. For brides who don’t want to wear a traditional dress, there is a two-piece Bianca Jagger-esque suit, featuring a double-breasted jacket and wide-legged trousers. The set costs £68. Sainsbury’s is the only British supermarket to offer wedding dresses. Tu’s low prices are in sharp contrast to recent research finding that in 2022 an average wedding dress cost £1,350. “We’re always focused on meeting our customers’ evolving needs and we know that many are looking for affordable, classic styles for wedding events,” said director of product at Tu. “We know that for a lot of our customers, money is tight right now.” According to research, the average cost of a wedding next year is expected to be £24,710, up from £17,300 in 2021. As a result many couples are scaling back their wedding plans and reallocating budgets. While a custom-made gown may have previously featured on a bride’s dream mood board, rising housing costs are now taking priority.

Married at First Sight