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Britvic revenue falls


Britvic's revenue in the third quarter was £360.1m, down 1.5% on last year.

It says revenues in Great Britain were up with Brazil delivering solid revenue growth.

Performance in France and Ireland "remained more challenging with a further softening since the half-year."

Simon Litherland, chief executive, said: "Overall we have delivered a solid performance against a more challenging backdrop in quarter three. We remain confident of achieving market expectations for the full year, underpinned by the strength of our brand portfolio, exciting commercial plans and a tight focus on cost control."

Aston Martin Lagonda 'planning prudently'

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Aston Martin Lagonda has issued a trading update saying "the challenging external environment highlighted in May has worsened, as have macro-economic uncertainties.",

"We anticipate that this softness will continue for the remainder of the year and are planning prudently for 2020".

Andy Palmer, Aston Martin Lagonda chief executive, said its wholesale performance "is adversely impacted by macro-economic uncertainty and enduring weakness in UK and European markets."

"We are disappointed that short-term wholesales have fallen short of our original expectations, but we are committed to maintaining quality of sales and protecting our brand position first and foremost. We are today taking decisive action to manage inventory and the Aston Martin Lagonda brands for the long-term."

'Catastrophic' no deal

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Mo Isap, founder and chief executive of IN4.0 Group, told Wake Up to Money a "no deal is catastrophic for manufacturing".

"What he [Boris Johnson] needs to do is get a good deal," he said.

Standard Life Aberdeen to get £140m from Lloyds

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Standard Life Aberdeen says it has reached an agreement with Lloyds Banking Group / Scottish Widows after a tribunal found in March that Lloyds Banking Group did not have the right to end a £100bn-plus contract with asset manager Standard Life Aberdeen (SLA).

An arbitration panel found Lloyds was not entitled to give notice to end an investment management agreement between the firms in early 2018.

Standard Life Aberdeen said it would continue to manage approximately one third of the total funds under management - £35bn - until at least April 2022 and two thirds will be transferred to other managers.

Standard Life said it will receive an upfront payment of £140m from Lloyds to compensate for loss of profit.

ITV profit falls 16%

love island

ITV - maker of Love Island - said pre-tax profit has fallen 16% to £222m.

"The economic and political environment remains uncertain but we are very focused on delivering our strategy and creating a stronger, more diversified and structurally sound business to enable ITV to take advantage of evolving viewing and advertising opportunities," said Dame Carolyn McCall, ITV's chief executive said.

The talent issue from Brexit

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Wake Up to Money

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Sam White, boss of Pukka Insurance, also spoke to Wake Up to Money about the impact on the workforce from Brexit uncertainty.

"For me it's a talent issue. We should be encouraging as many people into the country as possible. We are going through a massive area of change, particularly around technology... What you want is to be able... to pull from that pool [of global talent]... The more we shut our boundaries down the more difficult it becomes to access that talent".

"We don't know what to expect," from a no-deal Brexit.

Uncertainty for insurers

BBC Radio 5 Live

Wake Up to Money

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Sam White, boss of Pukka Insurance, also spoke to Wake Up to Money about uncertainty facing the economy.

Her car insurance business was going well, she said, but "the insurance as a whole is very reliant on Europe and a lot of the insurers that operate in the UK are European.. I can see a lot of concern about what might happen in Europe post-Brexit."

Difficult to recruit

BBC Radio 5 Live

Wake Up to Money


Matthew Moulding, boss of The Hut Group, told Radio 5 Live's Wake Up to Money about the impact on the workforce from uncertainty created by Brexit.

The workforce of his health and beauty business comprises 70 nationalities.

“They need to know where they stand, it makes it difficult to recruit," he said.

Need more detail on Brexit

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Wake Up to Money

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Will Walker-Arnott, senior investment manager at Charles Stanley said the pound did not move much yesterday when Boris Johnson was confirmed as the next prime minister.

But, he said, the pound has fallen in recent weeks and gilts - UK government bonds - had been rallying as they are seen as a "safe haven".

"We want to see some meat on the bone from Boris. We haven't really seen any indication of how he's going to get out of the EU by the 31 October".

He is hoping for more information later today. But, he said, if there is a disorderly Brexit the pound could fall to $1.14, $1.15, although he said the historic trading level was closer to $1.50, $1.60.

"It's a bit of binary bet at the moment," he added.