Money blog: Cadbury's reacts to calls to bring back 'greatest ever' chocolate bar (2024)

Domino's Pizza expects to see a hit to its profits after recording a drop in orders over the first half of the year.

The company, which holds the US chain's master franchise in the UK and Ireland, said it expected its new expected adjusted annual core profit to be at the lower end of market expectations after a "slow start to the year".

Total orders were down 0.9% to 35.1 million in the six months to the end of June, although the firm said they had been picking up notably since May and increased by 0.6% in the second quarter.

The company also forecasted that its overall profit for the year would be between £144m to £149m, at the lower end of market expectations.

After it downgraded its predictions for the year, the company's shares fell as low as 8% during trading on the FTSE 250 today.

The food group also announced it was aiming to continue expanding by opening 70 branches across the UK this year and said its average delivery time had been cut to 24 minutes between April and June - shaving one minute off its time in the previous quarter.

Sainsbury's is set to integrate AI technology into its self-checkout machines.

Features on 22,500 checkouts will enable them to identify specific items quickly and spot when a "suspicious" item has appeared in the checkout shelf.

The Next Generation Checkout Systems (NCRs), which use a function called Picklist, will also enable staff to approve transactions remotely rather than going to each till - which the supermarket hopes will save time and boost efficiency.

Sainsbury's will also receive real time data with each transaction and hope to bring in personalised promotions.

When unstaffed tills were introduced, it was hoped they would provide convenience and speed, but over the years a number of problems have arisen, with technology at times going wrong, long queues and theft.

In bringing in AI, Sainsbury's hopes to address these concerns.

Clodagh Moriarty, its chief retail and technology director, told The Grocerthe AI technology would "unlock new capabilities".

"This is driving us to the next level and delivers for customers, colleagues and shareholders," she said.

A strategy used by traders known as "carry trade" contributed to market turbulence at the end of last week and start of this.

Global shares plummeted yesterday, largely on fears the US could enter recession amid unexpectedly poor job creation data.

But "carry trade", where money is borrowed at a low cost in one currency to achieve higher returns from investments in another currency, has also been in play.

Investopedia tried to put it in layman's terms: "A good example of a carry trade is when you accept a credit card that offers a 0%cash advance in order to invest the borrowed cash in assets with a higher yield. This carry-trade strategy may net you either a profit or a loss."

A real-world example saw investors borrow Japanese yen on the assumption it would remain cheap against the US dollar and Japanese interest rates would remain low. These people would use this money to invest in the US, where returns would be higher.

Then the Bank of Japan raises interest rates - and traders begin undoing these deals.

This process, and its dangers, have been noted this week by JP Morgan analysts.

Arindam Sandilya, co-head of global FX strategy at the bank, told Bloomberg TV that the process of rejigging financial assets was "not done by any stretch".

He said: "The carry trade unwind, at least within the speculative investing community, is somewhere between 50% to 60% complete."

By Sarah Taaffe-Maguire, business reporter

Calm appeared to return to markets as the US trading day began.

It was a similar picture across the board: some but not all losses were regained.

After its worst day in nearly two years, the S&P 500 rose 1.11% following a 3% fall due to Monday's global stock sell-off.

The index of 30 major companies listed on US stock exchanges, the Dow Jones Industrial Average (DJIA), was up more than 1% after a 2.6% tumble yesterday.

The tech company-heavy Nasdaq Composite rose nearly 1% after ending yesterday at its lowest level since early May, down 3.4%.

Behind the sell-off was fear over the US economy. Growth in unemployment fuelled recession fears while investors speculated the US central bank, the Federal Reserve, may have misjudged its decision last week to hold, rather than lower, interest rates.

Tech companies had reported results last week, which caused investors to fret about levels of investment in AI and a perceived lack of return.

By Tomos Evans, Wales reporter

The public has been warned to make sure they are paying for their parking via official means.

QR codes have appeared in a number of car parks across Wales, taking people to fake websites.

Sky News has spoken to someone who was caught out in a car park outside council offices in Pembrokeshire.

Yori Evans, 19, said he was "confused" when money disappeared from his account the day after he had attempted to pay via a QR code.

Conwy County Borough Council warned residents about a similar scam on Monday.

The council said the codes, which are used to steal payment information, put motorists at risk as they may not know they haven't paid for their ticket via official channels.

Anyone who may have been affected has been urged to contact their bank to stop any further payments.

With the Bank of England cutting the base rate last week, it makes sense that borrowers would be tempted by a tracker mortgage.

Many people will be considering if the short term pain is worth the potential long term gain if more cuts are announced further down the line.

In theory, a tracker mortgage would allow borrowers to feel the savings a rate cut brings immediately - but there is always a risk that rates increase, and thus so do mortgage payments.

Some brokers have warned that the gap between comparable fixed and tracker deals is currently too big to justify the risk.

This is partly because a number of lenders have been increasing their tracker rates in recent weeks, perhaps pre-empting the rate cut and in an attempt to attract borrowers to their fixed deals instead.

For example: as of Friday, Nationwide's two-year fixed deal for a home mover with a 75% LTV mortgage and no product fees comes with a 4.92% rate.

It's tracker version of this same deal has a 5.89% rate.

This means there would need to be four more 0.25% base rate cuts for the tracker product to be worth it.

Managing director of EHF Mortgages, Justin Moy, said the choice between fixed or tracker should be more about individual needs rather than "hedging against future rate changes".

"The gap between comparable fixed and tracker deals is making it difficult to justify taking a tracker at the moment," he told Newspage.

"However, many tracker deals have low or no early repayment charges, so they are ideal for that flexibility if your property is due to be sold later in the year, to avoid the normal penalties of paying early.

"To need four regular base rate cuts just to match a typical equivalent fixed deal suggests that, for most, a fixed rate will be most beneficial."

Jack Tutton, director at SJ Mortgages, told Newspage tracker products were "not representing value for money for many consumers" at the moment.

"To take a tracker product now would mean a client is gambling with a higher initial payment with the hope that the base rate falls dramatically, something that we haven't seen since the financial crash in 2008," he added.

Craig Fish, director at Lodeston Mortgages and Protection, said borrowers "should be aware and beware in equal measure".

He explained that trackers for the right person can be a "very good option".

"If we get one or two cuts this year, that could be beneficial, but there is no guarantee. Disappointingly, though, we are witnessing lenders increasing their tracker margins, making them less viable for clients but more viable for their bottom line, which is hardly in line with consumer duty," he added.

Basically, a will is a legal document that sets out what happens to your money and assets when you die.

How do you make one?

You can write a will yourself or have a solicitor draw one up.

It's generally advisable to use a solicitor because it is easy to make mistakes and they can help you make effective choices.

You are also protected if something goes wrong as solicitors are regulated by the Solicitors Regulation Authority.

What do you include and what does the process involve?

The main thing to consider is who you want to benefit from your estate and personal possessions when you die - be it your spouse, children or parents - and how you want them to benefit.

You can also give directions about your funeral and ask for funeral expenses to be paid from your estate.

Caroline Foulger, partner and head of private client at TWN Solicitors, told the Money blog that she first asks clients for a brief overview of their family and assets and then a meeting is set up.

After that, a fee is fixed and if the client agrees to the price a draft is written up.

Once everyone agrees to what is written, the witnessing process is carried out.

Are you too young for a will?

The legal minimum age to write a will is 18, but that's too young right?

It could be, but what's more important than age itself is where you are in your life - whether you have assets and your personal circ*mstances.

Sam Grice, founder of the end of life planning companyOctopus Legacy, says "procrastination is quite common" but there are "consequences with inaction".

Mr Grice, who created his company after his mother died in a car accident, says: "I'm a recent father and so a consideration for me is who looks after my child if something were to happen.

"My mum was 60 when she died. It was quick. I'm assuming if I'd asked her she would have thought she was young. People are always thinking they've got that extra 20-30 years but that is not always the case."

After his mother's death seven years ago, Mr Grice says, he wanted to help others through the process of losing loved ones and a "big part of that was allowing people to put plans in place ahead of time".

"It is the best thing you can do for your loved ones, it will help alleviate financial and emotional burdens following your death," he adds.

"It doesn't need to be fear-inducing, it's quite an easy process to get sorted."

Joanna Grewer, partner at Roythornes Solicitors, says "you are never really too young to have a will".

"Nobody thinks about it being important until they think they might be facing death but actually the earlier you plan, the easier your life becomes," she says.

When Ms Grewer she sits down with clients, she says, she looks at "what they are worth on paper".

"We are always worth more on paper than we are generally in life because we have death in service benefits and life policies which kick in after death and people don't think about how it will affect the value of their estate."

She also says a will isn't a document that should be created once but "something you should change as your life develops".

Penny Wright, a partner in the wills, probate and estate planning team at Gardner Leader, agrees: "It's one of those things that everyone knows they've got to do but you put off.

"There isn't a specific time people should do it but it is particularly important if you've had a change in your circ*mstances."

What happens without a will?

If you don't have a will, the so-called intestacy rules kick in - this is the government's view of how people should leave their estate.

If the person who died was married or in a civil partnership and has no children, all their estate will go to their partner.

But if they are survived by both a partner and children then the first £322,000 of their estate will go to their spouse or civil partner, along with any of their personal possessions, and anything over £322,000 will then be divided, with the partner receiving 50% of this and the children entitled to divide the other 50%.

Executors and beneficiaries - what are they?

Executors are the people who have the legal responsibility to make sure assets get to the right people under the wishes of the will.

The beneficiaries are those who are named as receiving something under the will.

But often a beneficiary will also be the executor - this is quite common.

How much can it cost?

It depends on the solicitor you use but you're looking at a range from £150 to £2,500.

Read other entries in our Basically series...

Morrisons has introduced new menopause-friendly sections in selected stores to bring visibility to products that support women going through this stage in their life.

The supermarket chain, which partnered with the menopause awareness initiative GenM in March, will display "menopause-friendly" products across an initial 45 stores.

The bays will be clearly signposted and stock a range of GenM-accredited and own-label products, including Canesten cream, Tena incontinence support and menopause vitamins.

Morrisons hopes to later expand the rollout to further stores.

GenM was launched in October 2021 to raise awareness about the menopause and the 48 symptoms that come with it.

The organisation states there are more than 15.5 million women in the UK and around onebillion globally going through the menopause.

Morrisons told Sky News: "The aim of our collaboration with GenM Collective, is to help our customers, who are either experiencing or will experience symptoms of menopause, to recognise their symptoms early and provide them with the relevant products to improve their personal experience."

They can get a bit of a bad rep, but in-flight meals aren't always that bad (if you're travelling with the right airline).

A new survey by MoneySuperMarketof 27,000 passenger reviews of meals across more than 100 airlines has found that Kuwait Airlines tops the list when it comes to the best plane food.

The airline, which offers a multi-course menu in economy and lobster, prawn and beef dishes in their "Royal Class" service, earned an average score of 8.6 out of 10 across all cabin classes.

Coming in second and third place were Oman Air and Middle East Airlines.

British Airways, the most popular meal-serving airline among Britons, comes in at 55 with an average score of 6.65.

Here are the top 20 best airlines for in-flight food:

1. Kuwait Airways

2. Oman Air

3. Middle East Airlines

4. Air Algerie

5. airBaltic

6. Aegean Airlines

7. JetBlue

8. Turkish Airlines

9. Air Mauritius

10. Swiss International Air Lines

11. Asiana Airlines

12. Belavia

13. Austrian Airlines

14. Qatar Airways

15. Emirates Air

16. JetBlue Mint

17. Eva Air

18. Etihad Airways

19. Ethiopian Airlines

20. TAROM

By Daniel Binns, business reporter

The markets in London are this morning up in early trading following yesterday's stock market falls around the world.

The FTSE 100 has gained around 0.3%, while the FTSE 250 is up more than 1%.

However, the gains have so far not been enough to make up the 2.04% loss in the FTSE 100 yesterday and the 2.83% fall in the FTSE 250.

It comes after stock markets in Asia rebounded earlier today following sharp falls yesterday amid fears the US could be heading for a recession.

Top FTSE gainers on Monday included hotel giant IHG, which owns brands such as Holiday Inn.

Its shares were up more than 2% after it reported a 3.2% rise in revenue per available room in the second quarter.

FTSE 250 firm Domino's Pizza Group is up 5% despite a new forecast that its annual profit is likely to be at the lower end of market expectations.

Meanwhile, oil prices have also rebounded slightly following sharp falls in recent days.

A barrel of Brent crude is priced at just over $77 (£60) this morning, a gain of more than 1%.

On the currency markets, £1 buys $1.27 US or €1.16.