Money blog: Greggs wants to dominate evening meal market - after overtaking McDonald's at breakfast (2024)

Thousands of Monzo users have reported the banking app is down.

Tracking monitor Downdetector said more than 2,000 reports of the app not working had been lodged so far.

More than nine million people use Monzo.

Users have been met with this message when opening the app...

Some have complained on social media.

One said: "Any idea how long before you are back online gotta pay rent and unable to and even your phone lines are down."

Another said: "Just transferred money to my account and have not received it yet."

Sky News has reached out to Monzo for comment, but has not received a reply.

However, Monzo replied to one user, saying they were aware of the issue...

Not content with being named the UK's top on-the-go breakfast destination this year (ahead of McDonald's), Greggs is now targeting the evening meal market - with pizza potentially the main attraction.

CEO Roisin Currie said the bakery chain's evening sales were "growing faster" than any other time of day.

"We are very focused on evening trading at the moment because we believe this is a really profitable part of the business long term," she told The Grocer.

Ms Currie said the company could offer a "breadth of range" to customers - including hot and cold sandwiches, pizza, bakes and salads.

"Pizza is very important for us when competing with the food-to-go market as a whole," she said.

Up to 160 new sites, set up for evening trading, could be opened each year as part of the plans, The Grocer reports. The stores would be opened near train stations, airports and popular commuter routes.

"If a [Greggs] was open and busy at 7am, the shop would open at 6.30am," said Ms Currie. "The same way, if a shop is still busy at 7pm and there is trade around that shop, we will stretch their hours to 7.30pm."

A slight easing in wage growth "will be welcomed" by the Bank of England and could clear a path for more rate cuts later this year, an economist has said.

Ruth Gregory, deputy chief UK economist at Capital Economics, said the latest data drop from the ONS indicates that "labour market conditions are continuing to cool".

However, she warned that despite figures also showing a decline in the unemployment rate, it's unlikely today's release "will move the needle too much for the Bank of England".

"We still think the Bank will pause in September before pressing ahead with two more 25 point rate cuts in November and December," she said.

"But much will depend on a broader range of indicators of price pressures, including inflation. July's inflation figures will be released tomorrow."

Market forecasts were fairly unchanged this morning - pricing in a 35% chance of a base rate cut in September.

BySarah Taaffe-Maguire, business reporter

The effect of conflict around the world can be seen in the cost of oil and gas on the markets and soon will be evident in household bills.

As Ukrainian soldiers continue their invasion into Russia, and in an unverified video appear to have taken control of a Russian gas facility key for exporting through Europe, the price of gas edged to 95.74p a therm (the measurement for heat) on Tuesday morning.

It's down from the 100p a therm high seen on Monday evening but still at an eight-month high.

More expensive gas will mean higher electricity bills.

The oil price rose to a high of $81.88 last seen in late July. A rise in the benchmark oil price, as measured by a barrel of Brent crude, will make things like filling a petrol or diesel tank more expensive.

In better news for consumers, and specifically holidaymakers, sterling is at a week high against both the dollar and euro with £1 equal to €1.1708 and $1.2797 respectively.

Yesterday we reported on four straight weeks of losses for the currency.

The Financial Times Stock Exchange (FTSE) 100 index of the most valuable companies on the London Stock Exchange rose a slight 0.05%, while the larger and more UK-based FTSE 250 index was up 0.14%.

Grocery inflation has risen for the first time since March 2023, according to closely watched industry data.

Prices in food shops rose by 1.8% in the four weeks to 4 August, research by Kantar Worldpanel found.

It follows 17 consecutive months ofeasing inflationin the sector, including during the previous month when the rate dropped to 1.6%.

Vitamins, supplements, drinks and chocolate were among the goods that went up fastest in price.

The research, based on the purchasing habits of 30,000 UK households, also found a surge in spending on drinks and snacks during theEuros football tournamentand theOlympic Games.

Read the full story here...

Wages were 5.4% higher in the second quarter of 2024 than a year ago, the Office forNational Statistics has said.

The weekly earnings figures - which the Bank of England is keeping a close eye on in deciding where interest rates should go - exclude bonuses.

The fall from 5.8% was in line with economists' expectations.

The figure remains well above inflation, a concern for the Bank's Monetary Policy Committee, which wants to see evidence the battle with high inflation is over before loosening monetary policy.

Interest rates are kept high to discourage spending and encourage saving - when this happens, price rises tend to slow.

Employers expect lower headline inflation to reducepressure to raise wages over the coming year.

The CharteredInstitute of Personnel and Development said yesterday that employersexpect to raise pay by 3% - the lowest expectation in twoyears.

However, a BoE survey pointed to pay rises of 4.1%.

Last month, new Labour Chancellor Rachel Reeves approved pay rises of at least 5% for millions ofpublic sector workers, including a 22% rise for junior doctorsover two years to resolve a long-running industrial dispute.

Unemployment lower than expected

Meanwhile, the percentage of people who are out of work and looking for a job dropped to 4.2% in July.

Those polled by news agency Reuters expected a rise to 4.5%, up from the 4.4%recorded a month ago.

A low unemploymentrate can indicate a healthy economy and - relating back to where we started this post - increase pressure for wages to rise.

Angry Waitrose customers have aired their complaints online after the supermarket shrunk the size of its own label toilet rolls.

The upmarket grocer has made changes to its Essentials loo roll in order to lower the price - including adding an "embossed texture".

The number of sheets has also been reduced from 240 to 190.

A flood of disgruntled customers have aired their views on social media and the Waitrose website.

One user documented the "disappointing" size change, while another said they wished they hadn't "wasted hard-earned money on a 16 pack", adding that they felt "ripped off".

In a one-star review on the Waitrose website, one person said they had bought the toilet roll "for years" but would not purchase it again.

"Very thin. Disintegrates. Smaller rolls smaller sheets. Very poor quality. Waitrose what on earth are you doing."

Another customer said: "Essential Waitrose bathroom tissue has always been my go-to product, surpassing competitors by a mile. What has happened, what have you done to this once incredible product?"

Waitrose said its changes were aimed at providing better value for money, with the price reduced in recent months. A four-pack of the bathroom essential now costs £2, down from £2.50 in May.

A Waitrose spokesperson said:"We recently embossed ourrollsto give an improved texture, while also cutting the price to reflect the reduction in sheet count. We always welcome feedback and are already reviewing this with our team to see how we can make improvements.

"We are committed to delivering excellent customer service and are proud to have just been named the best supermarket in the UK. We sincerely apologise if our partner's approach didn't reflect this standard and we're certain it wasn't their intention."

The company also said the size of their own-label loo roll was in line with other brands.

Here's a look at how own-brand four-pack toilet rolls at other major retailers compare:

• Tesco - Luxury Soft Toilet Tissue - £1.45 - 220 sheets
• Sainsbury's - Super Softer Classic Toilet Tissue - £1.90 - 190 sheets
• M&S - Quilted Rolls - £2.50 - 170 sheets
• Ocado - Aloe Vera Toilet Tissue - £1.65 - 160 sheets

After the revivalof popular Cadbury's chocolate bar Top Deck earlier this year, we asked you which discontinued treat you would like to see brought back - and we got so many responses that we've decided to make a weekly feature of it calledBring It Back.

Every Tuesday, we'll pick one from our comments box and look at why it was so beloved and, crucially,find out whether the companies in question might consider reintroducing them.

This week, we turn our attention to Heinz Toast Toppers.

We were inundated with messages about this range of products, which were popular from the 1970s and onwards, before being discontinued in 2015.

Toast Toppers were cans of creamy spread that fans would slather on toast and then grill. They came in flavours including ham and cheese, mushroom and bacon, and chicken and mushroom.

Their disappearance from supermarket shelves has been mourned ever since, with thousands of people following a Facebook group demanding their return.

Aimee Foy, from Manchester, runs that group and told Sky News: "It was just a really nice but versatile snack.

"Like a lot of people, I have really nostalgic memories of having it as a teenager.

"It was tasty, but also really simple and cheap, especially when you compare it to how much you have to spend if you're getting a meal delivered by Uber Eats or something."

She said there remained huge demand for the product and that it would prove especially popular given its relative affordability amid a cost of living crisis.

"I've seen tins on eBay that were six years out of date but going for more than £50, which just shows how much people love it.

"It was only around £1 when they stopped doing it, but even at twice that price people would definitely still buy it.

"It's obviously not a la carte or anything, but we loved it - and I'm sure that people would jump on it if Heinz did decide to bring it back."

Indeed, Heinz is all too aware of the continued interest in Toast Toppers - with the company's official UK Facebook page posting a popular meme in reference to the fixation many fans have with the product.

A Kraft Heinz spokesperson told Sky News: "Toast Toppers were a huge hit with Brits back in the '70s and '80s, but as consumer tastes and trends evolved, Toast Toppers sadly fell out of favour, so we took the decision to pull them from sale in 2015.

"It simply wouldn't have been feasible to continue making them, despite the iconicity of this delicious teatime snack.

"We don't have any immediate plans to bring them back, but we'd never say never and have plenty of exciting innovations in the pipeline that we're confident consumers will love."

Which currently discontinued chocolate bar, crisps, sweets - or any other food product - would you like to see brought back, and why? Let us know in the comment box at the top!

Heathrow says a drop in passenger numbers is down to a government scheme that charges non-visa connecting travellers £10 to pass through the airport.

It said the electronic travel authorisation (ETA) had been "devastating for our hub competitiveness" - accounting for a 90,000 drop in passengers.

The chairman of Asda says he is "embarrassed" by the supermarket's recent decline.

The retail giant reported a 2.1% drop in like-for-like sales in the first half of the year.

Asda has also lost market share since it was acquired by the Issa brothers in 2021.

Lord Rose told The Telegraph he was "slightly embarrassed" and did not like "being second, third or fourth".

Card Factory has teamed up with food delivery app Just Eat to offer customers the chance to get greetings cards delivered to their door as quickly as a takeaway.

The partnership is live in 19 stores across the UK, including Liverpool, Manchester and London, and is set to be extended.

Rioting caused sales to plummet as much as 40% in areas where rallies, protests and riots were rumoured to take place last Wednesday, according to a hospitality association.

Businesses reported footfall was down by as much as 75% in some locations, while sales fell by 10% across the country, UKHospitality said.

Shops closed down, events were cancelled in city centres, and customers stayed away, working from home and cancelling day trips to coastal towns.

"These figures are startling and show the enormous impact the riots, and threat of further disorder, have had on our high streets and communities," saidKate Nicholls, chief executive of UKHospitality.

"Bustling, vibrant city centres were turned into ghost towns as the public stayed at home and businesses shut."