Business
McDonald’s says that it has been forced to increase prices in the face of rising costs
AS THE COST-of-living crisis bites, the UK’s favourite fast-food chain has said that it has no choice but to increase some of its prices.
McDonald’s which has offered a £1 menu for the last 14 years now says that prices have to increase to £1.20. But the burger chain says that it has delayed and minimised the changes for as long as they could.
Alistair Macrow, Chief Executive Officer, McDonald’s UK and Ireland told The Herald: “We know things are tough right now. We’re living through incredibly challenging times and we’re all seeing the cost of everyday items, such as food and energy, increase in a way many of us have never experienced. Just like you, our company, our franchisees who own and operate our restaurants, and our suppliers are all feeling the impact of rising inflation.
“Although we’re seeing increasing costs, we’re committed to developing and rewarding our people, supporting our suppliers and the 25,000 British and Irish farmers we work with, and continuing to help invest in community programmes up and down the country.
“At times like this, we know that providing great value is important. Since we opened in the UK in 1974, we’ve committed to offering great tasting food at affordable prices, and that commitment will not change. But, today’s pressures mean, like many, we’re having to make some tough choices about our prices.
“This summer, our restaurants will be adding between 10p and 20p to a number of the menu items impacted most by inflation. From today, we’ll be increasing the price of our cheeseburger for the first time in over 14 years, taking it from 99p to £1.19. Some prices remain unaffected, and some will continue to vary across our restaurants. We understand that any price increases are not good news, but we have delayed and minimised these changes for as long as we could. We will continue to listen to what you want from us and work tirelessly to find solutions to today’s cost challenges affecting our business.
“Providing you with the best combination of choice and value that we can in these extraordinary times remains our focus and is at the heart of the new rewards scheme we launched in the UK last week. My McDonald’s Rewards offers one point for every penny spent through our app on our iconic food and drink, and these points can be collected and redeemed for free food as well as charitable donations.
“We hope you love our new rewards scheme as much as you love our popular Monopoly promotion, which will return later in the summer with an even bigger prize pool and increased chances of winning.
“Thank you for being a McDonald’s customer and for your patience with our people as these changes are introduced.”
Business
How to start trading in the UK
Trading is a method some people use as a side hustle, especially those who have been affected by the cost of living crisis, and as the market is easier than ever to access, almost anyone can do it. In fact, it’s now estimated that there are nearly a million active traders in the UK, with many of these based here in Wales.
But, although trading is popular, the risks associated are high. As a result, it’s essential to fully educate yourself on the market and be aware of its unpredictability. With that in mind, here are the very basics of trading if you are looking to get started.
What is trading?
Trading involves purchasing and selling financial goods, like stocks and shares, and using price fluctuations to seek profit. Traders will monitor volatility in financial markets, then attempt to buy low and sell high for financial gain.
Types of trading
There are an endless number of trading strategies you can use depending on your desired financial outcome, acceptance of risk, and investment of time.
Day trading
Day trading involves capitalising on the rapid fluctuations in prices by purchasing assets then selling them within the same trading day. In the UK, this is Monday to Friday from 8:00 to 16:30. This method can be very effective but also highly risky, and advanced trading skills and larger funds are required.
Position trading
Position traders will buy assets based on a trend, and hold out until the trend has peaked, selling their asset when it’s most profitable. Position trading doesn’t involve as much skill or involvement as day trading and the short term risks are lower. However, you do need to deal with short-term fluctuations and have a good understanding of market cycles.
Scalping
Scalping is a fast paced, short term strategy that involves trading numerous times a day – sometimes hundreds – and profiting off minor price fluctuations. This style of trading requires a lot of discipline, a larger investment of time, and expert knowledge of market liquidity as a large loss could undo all the hard work from previous trades.
Swing trading
Swing trading is a short-to-medium term strategy that involves holding positions between a few days to several weeks, potentially even a few months. Swing traders base their trades on technical analysis, anticipating an asset’s next move then entering and exiting their position at the right time.
After-hours trading
After-hours trading, aka extended hours trading, involves trading outside of normal trading hours, either before the market opens (pre-market trading) or after it’s shut (after-hours trading). After-hours trading is often done for convenience or preference to trade with fewer market participants. It’s also common for traders to use extended hours to manage trades without waiting until the next day to prevent missing out on valuable price swings.
Know the risks
If you’re looking to start trading, it’s important to be aware of the substantial risks. Even the most experienced traders can face detrimental losses as the financial markets move quickly and erratically. Having full knowledge and a thorough understanding of the market is essential.
Getting started: Opening an account
If you’re completely new to trading, it’s recommended that you start with a demo account. Demo accounts allow you to practise the art of trading with real market conditions (mimicked by brokers) but without real money. It’s a highly effective educational tool that offers you the chance to build the knowledge, skills, and tactics required to succeed without taking any risks.
Trading can be a great investment, particularly for those with low pensions, but conducting thorough research is essential to ensure financial success. Consider which tactics will work best for you and open a demo account to practise without risk. Once you’re ready, you can open a real trading account and get started.
Business
Bluestone becomes first in Wales to achieve ‘Customer Experience Excellence Mark’
BLUESTONE NATIONAL PARK RESPORT in Pembrokeshire has achieved a milestone in the Welsh tourism industry, becoming the first business in Wales to earn the prestigious insight6 Customer Experience (CX) Excellence Mark. This recognition highlights Bluestone’s dedication to providing exceptional experiences for guests, placing it among just 15 businesses across the UK to receive this distinction.
In today’s market, customer experience often outweighs price in setting businesses apart. The insight6 CX Excellence Mark celebrates businesses that go above and beyond to make customers central to their operations, serving as a seal of approval from the UK’s leading CX experts.
Claire Lewis, Head of Guest Experience at Bluestone, shared: “Receiving the insight6 CX Excellence Mark is a tremendous honour, reflecting the team’s hard work over recent years to ensure we deliver the best for our guests. Investing in understanding our guests’ experiences has given us invaluable insights to enhance daily operations. When our team is happy, this directly enhances our guests’ experience, and the relationship is truly reciprocal.
“Through this journey, we have come to see our business through the eyes of our guests and actively seek their feedback. Even if things are going well, understanding what our guests truly value helps us make continuous improvements.”
Mel Evans, CX Director at insight6 South Wales, praised Bluestone’s approach: “To achieve CX Excellence, a business must have a strong customer-focused ethos embedded in every decision. Those receiving the CX Excellence Mark carefully design their customer journey—whether online, by phone, or in person—to ensure an outstanding experience, regularly testing and monitoring to remain at the top of their game.”
For more details on the CX Excellence Recognition Scheme, visit www.insight6.com/cxexcellence.
Business
Seafood carbon emissions profiling tool ‘making an impact across the industry’
SEAFOOD businesses have been embracing a new tool developed to help them measure and reduce their carbon footprints.
The Seafood Carbon Emissions Profiling tool was launched earlier this year by Seafish, the public body that supports the UK seafood industry.
It works by generating carbon footprints for wild capture and aquaculture seafood products to build an understanding of emissions hotspots in supply chains, allowing positive improvements to be made in line with the UK’s 2050 net zero targets.
The tool is now being used by prominent seafood businesses including Hilton Foods, New England Seafood International (NESI) and Arctic Traders.
At Hilton Foods, who work with leading international retailers and food-service brands, the tool is being used to understand the carbon footprint of seafood products, such as basa fillets, at retail.
Emer Fardy, Group Sustainability & Human Rights Director at Hilton Foods said: “We are proud to have collaborated with Seafish to develop the Seafood Carbon Emissions Profiling Tool which has transformed how we at Hilton Foods assess and manage our seafood environmental impact.
“This tool empowers us, our suppliers, and the wider industry to consistently measure carbon emissions calculations across the sector – a vital step toward achieving net zero.
“The tool exemplifies the kind of innovative collaboration needed to make real progress on sustainability by supporting a more efficient approach to reporting and creating more time for the actions that concretely reduce carbon emissions.”
Last year, NESI committed to setting long-term science-based targets to achieve net-zero emissions by no later than 2050.
To effectively set a target and have it validated with the Science Based Targets Initiative*, NESI has been working to understand greenhouse gas emission footprint and hotspots across their sites and supply chains.
Ruth Hoban, NESI’s Head of Sustainability said: “We are using the tool in collaboration with our strategic seafood suppliers to help us understand and manage the carbon footprint of our seafood supply chains.”
“As part of the Seafood Grimsby and Humber Alliance, NESI has played an important collaborative role in the development of the tool and we intend to embed it into our data collection process to support our decarbonisation journey.
“We have found the tool simple to use.
“The layout of the tool guides the user through the information required in a structured way. We look forward to working with our suppliers on the tool and its outputs as it supports our journey to net zero.”
Arctic Traders, who specialise in the procurement of fresh and frozen seafood for leading European processors, retailers and the food service sector, is using the tool to understand CO₂ emissions associated with transport options, mainly in choosing between road and sea freight of seabass from Turkey.
Seafish’s Head of Responsible Sourcing, Dr Stuart McLanaghan, highlighted the three companies’ use of the SCEPT when he spoke recently at the international Global Seafood Alliance’s Responsible Seafood Summit in St Andrews month.
He said: “The case studies indicate how UK seafood businesses are using the tool to understand the carbon footprint of their seafood products and to inform transitional decarbonisation activities.”
“We’ve created a series of short tutorial videos that cover everything users need to know, from requesting tool access and populating data to interpreting carbon footprint results.
“The SCEPT is designed to be intuitive, eliminating the need for an instruction manual. We’re confident that users can easily get started without the usual software learning curve and there is no need for prior technical expertise in LCA or carbon-footprinting.
“The tool’s integration across UK seafood supply chains is also essential to generate high-quality industry averaged datasets for benchmarking and public disclosure purposes. However, we are only at the end of the beginning. We will continue to evolve the tool to meet industry’s needs and aspirations, and to integrate data reflecting latest scientific advances.”
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