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This is Money Podcast

Love it or hate it - the pound is not as strong as we're used to

This is Money Podcast

This is Money

Business News, Business, Investing, News

4.1650 Ratings

🗓️ 14 October 2016

⏱️ 50 minutes

🧾️ Download transcript

Summary

The country appeared to take leave of its senses this week.

As the pound continues to take a steady route south through the Channel tunnel down to the capital of Armageddon, the effects are being felt by businesses across Britain. And bit-by-bit consumers are starting to notice. They’re not happy.

News of the famous savoury black paste, Marmite, being taken off the shelves at Tesco spread across the internet like a yeast infection.

People became hysterical - and not in a funny way.

You don’t mess with people’s brands as Unilever found out when it stopped supplying the supermarket many of its famous-name products because of the rising cost of foreign-sourced ingredients.

Join Simon Lambert, Georgie Frost and Lee ‘Bovril’ Boyce for an entertaining look at what it all means for the pound in your pocket.

Also in the podcast:

Former Bank of England governor Mervyn King believes the weak pound is a good thing for Britain.

Don’t wait until to get to the airport to change your money – you’ll be in for a nasty shock

There are transfer services for larger amounts of foreign currency – particularly useful if you want to BUY pounds

Are banks are a spent force? Lloyds seems to think so as it slashes rates on it accounts and slashes staff from its head count.

Rant of the week: the best savings account now pays a pointless 1% interest and that is affecting the whole economy.

How to spot a fund manager who talks sense and invests sensibly. There must be one or two.

It’s not just the exchange rate that's back in the 1970s, brown cars are popular again.

House prices might also get a mentions.

Enjoy.

Transcript

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0:00.0

This is Money, brought to you in partnership with NS&I, giving you 100% security for your savings.

0:15.7

A very warm welcome to This Is Money and Share Radio podcast in partnership with NS&I.

0:21.2

I'm Georgie Frost.

0:22.0

Joining me in the studio is editor Simon Lambert and Consumer Affairs Editor Lee Boyce

0:26.5

to round up the week's top stories they've been covering on their financial website of the year.

0:31.8

And today it's all about the brown stuff.

0:34.8

Love it or hate it from cars to our favourite pot of yeast extracts bread.

0:39.5

Darvante Perspirit. Marmite at breakfast. Our most indulgent Magliam. Tesco, every little helps.

0:45.6

Yes, this week a public spat between Tesco and Unilever over price-wise's caused panic that many of our

0:51.6

favourite branded goods may disappear from supermarket shelves.

0:55.3

Unilever said it was the result of the falling pound.

0:58.0

A deal was reached. Marmageddon may be toast, but for how long?

1:02.2

This really impacts the entire industry.

1:04.5

Tesco being the biggest retailer in the UK and Unilever, the biggest supplier to Tesco,

1:08.5

this was really setting the benchmark for what the impact of Brexit will be.

1:11.8

We investigate the winners and the losers at the fall in the value of sterling.

1:15.0

Was it overpriced in the first place, though?

1:16.8

Perhaps it is going back towards a more sensible long-run value, but that doesn't really do

1:21.5

anything to help us out in the short term.

1:23.7

Also today, the sides are out at Lloyds.

1:26.2

The banking sector is under a lot of pressure at the moment.

1:28.1

Income is currently declining.

...

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