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Tuesday 20 March 2018

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Company news, markets and financial talking points, available from 8am Monday to Friday

Prices 'will fall 1.2% after Brexit'

The Institute for Fiscal Studies has sounded a note of caution after it claimed that consumers could see prices fall by up to 1.2% if Britain were to abolish all tariffs once it has left the European Union. The Institute, which said that consumers had already seen prices rise by 2% since the referendum due to the weaker pound, warned that any gains would be small and were based on "optimistic" assumptions.

NY activist shakes things up with 5% Barclays stake

Activist investor Edward Bramson has taken a 5% stake in Barclays. The Times says that the audacious move from the New York-based investor intensifies pressure on Barclays’ chief executive Jes Staley who is battling on several legal and regulatory fronts while trying to retain the goodwill of bank’s leading shareholders over his plan to turn the business around.

Channel 4 admits to 28.6% gender pay gap

Channel 4 has revealed a 28.6% gender pay gap and admitted that two-thirds of its top 100 best paid staff are men. Alex Mahon, the female chief executive who joined the company in 2017, said the data "obviously makes for uncomfortable reading" and said she is "determined to take action to address it". The broadcaster said it was aiming for a 50:50 gender balance among its top 100 earners by 2023.

Westfield becomes Europe's largest shopping mall

Westfield is now Europe’s biggest mall after a £600m extension. The 740,000 sq ft expansion at the West London shopping centre will increase its overall size to 2.6m sq ft, and see it overtake Aviapark in Moscow and the Westgate shopping city in Zagreb, Croatia. John Lewis, which turned down an opportunity to open a store in Westfield London when it opened in 2008, is the anchor tenant of the extension.

Consumer group slams Easter egg packaging

Up to a third of the weight of an Easter egg is the packaging it comes in, according to new research. Thorntons Classic Large Egg had the highest proportion of packaging - 36% of its weight, said Which. However, the consumer group found that manufacturers have made big strides to ensure such packaging can be recycled.

Quote of the day… Punters still want human connection

"We believe in the future of shops, customers still want to go out and have a day out with friends and family and connect with people on a human level." Paula Nickolds, boss of John Lewis, says "the High Street dying story" is "overstated". 

THE NUMBERS... AT 0650 GMT

FTSE 100: down -1.69 to 7042.93
Dow Jones: down -1.35 to 24610.91
Dax: down -1.39 to 12217.02
Cac 40: down -1.13 to 5222.84
Nikkei: down -0.60 to 21352.00
Hang Seng: up +0.08to 31538.97
US dollar: buys €0.81010 and £0.71230
Sterling: buys $1.40440 and €1.13730
Oil: $66.15 down -0.1

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