The dependence of the UK gambling industry on high-spending VIPs, customers who are disproportionately likely to be addicts, has been laid bare in a secret report obtained by the Guardian. The Gambling Commission is considering whether to ban VIP schemes in Britain after collecting data from betting firms, including one that took 83% of all deposits from 2% of its customers. The report, which has emerged as the government prepares to review gambling legislation, reveals for the first time the extent to which the industry relies on VIP schemes. The much-criticised membership programmes reward gamblers who habitually lose large sums of money with perks such as free bets, cashback on losing wagers or football tickets. The award of VIP status has been cited as a factor in seven out of 10 regulatory penalties issued to companies by the commission for failures to prevent problem gambling.
On the first working day of 2020 several food retailers started selling new meat-free options, including KFC, which launched its first vegan burger nationwide. Greggs (GRG) also launched a meat-free version of its popular steakbake following the exceptional success of its meatless sausage roll last year. McDonald’s, Pizza Hut, Subway and Costa similarly unveiled new meat-substitute items on their menus, while supermarkets including Aldi and Marks & Spencer Group (MKS) ramped up their takeaway vegan efforts with everything from fishless “Tuno” sandwiches to fake smoked chicken wraps
Financial markets around the world have started the year on a high, with stocks rallying in Europe and setting fresh records on Wall Street as optimism grows over the improving global economic outlook. On the first trading day of the decade, shares surged after China’s central bank announced an 800bn yuan (£87bn) cash increase for the economy, and Donald Trump said phase one of a trade deal between Washington and Beijing would be signed on 15 January. In a reflection of the rising optimism, the FTSE 100 ended Thursday more than 60 points (0.8%) higher, at 7,604, while European company shares also rallied in Paris, Frankfurt and Milan. In the US, the Dow Jones industrial average reached a record high, extending gains made over the past month.
Marks & Spencer Group (MKS) is looking to shed its reputation for selling frumpy clothes aimed at the over-50s in 2020 by going after the booming athleisure market with a range of affordable sportswear. From Friday the 150-piece Goodmove collection, which includes leggings, will be available. In-store leggings “experts” will be on hand to help customers choose from five styles, which start at £15 for a basic pair and go up to £45 for sculpting tights. The accompanying marketing push includes ads on social media as well as a dedicated Spotify playlist. M&S has been unsuccessfully trying to reinvent itself for nearly two decades but chief executive, Steve Rowe, is promising to make the changes. The retailer is redesigning its fashion and food ranges to attract more young families. At the end of last year it poached Richard Price, the head of Tesco’s F&F clothing and homewares label, to lead the struggling clothing division.
