Commercial news round-up: PPI, 888, currency rates, interest rates, Asos
updated on 31 August 2017
As summer takes its last official gasp today, and we look towards autumn and all that brings (new term, law fairs, vacation scheme applications), there is just time to reflect on the business stories of the past week – look no further than this sparkling collection:
- A robotic model of Arnold Schwarzenegger is to front the FCA’s ad campaign, highlighting the need for people to make their PPI claim before the deadline of 29 August 2019.
- Betting firm 888 has received a record fine from the Gambling Commission of £7.8 million after it failed to protect “vulnerable customers”; a technical flaw allowed those who had chosen to bar themselves from the site to continue gambling.
- Currency rates have hit a new low for travellers who exchange money at airports, with some being offered just €0.86 to the pound.
- A key Bank of England policymaker has said that interest rates should go up “modestly” to curb rising inflation. He was just one of two dissenters at the Bank who were keen to see interest rates increased from the all-time low of 0.25%.
- Asos is just £100 million away from what the Guardian is calling “a seminal moment” for UK fashion, poised as it is to overtake M&S in the valuation stakes. M&S is currently valued at £5.08 billion, while Asos has hit £4.98 billion.
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