Money blog: Experts reveal the wines they swear by that are under a tenner (2025)

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11:20:01

UK faces four years of economic pain because of budget, BrewDog co-founder says

Britain faces four years of economic pain because the government has made life difficult for businesses following the budget, the co-founder of BrewDog has told Sky News.

James Watt has also suggested the UK is work-shy and only hard graft will lead to prosperity, which is lacking in the country.

"I think the Labour government certainly haven't helped businesses and haven't helped founders," he told our Business Live presenter Darren McCaffrey.

"I think the budget is really, really bad for the UK and caused a lot of damage. And I think the UK attitude towards success and attitude towards entrepreneurs doesn't help us.

"When you contrast that with the American attitude towards success that is one of the reasons you see so many more founders and entrepreneurs in America versus the UK at the moment."

Mr Watt, who stepped down as BrewDog chief executive last May, made headlines earlier this month after criticising UK workers for being obsessed with having a work-life balance.

10:15:01

Music venues shutting their doors due to 'extreme and unnecessary' financial pressures

Venues are being forced to close due to "extreme and totally unnecessary financial pressures", an industry body has warned.

A total of 46 venues shut their doors in 2024 and 40 stopped operating as grassroots music spaces, the Music Venue Trust found.

While this was fewer closures than in 2023, when the sector saw the highest number of venues shutting down in decades, MVT said this was down to its emergency response service, which helps struggling settings.

It responded to 200 emergency cases in 2024, an 18.9% increase from 2023.

Mark Davyd, chief executive of MVT, called for more "practical interventions" to help protect and support the industry.

"Venues, despite all the very welcome good intentions and acknowledgements they are receiving for their vital work, are still closing, still under extreme and totally unnecessary financial pressures, still failing to be recognised, as everyone agrees they should and must be, when government designs policy, taxation, and legislation," he said.

"It isn't good enough to keep saying how much we all value them, we've got to practically do something about it. We need action, not words."

Our North of England correspondent Katerina Vitozzi previously explored the impact of the closures on grassroots venues...

09:08:29

Morrisons axing hundreds of jobs

Morrisons has confirmed that it is cutting 201 members of staff as it becomes the latest supermarket to axe jobs.

Roles in customer service, recruitment, and payroll are understood to be impacted by the cuts.

A spokeswoman for Morrisons told Money a 45-day consultation process will take place before any final decisions are taken.

"We have recently carried out a review of our People structure to ensure we are offering our stores and sites a timely and consistent service," she said.

"We are therefore proposing to remove the roles of regional people manager, store people manager and case specialist from our structure, meaning colleagues in these roles are being placed at risk of redundancy.

"The new structure will consist of a number of new central roles to support our supermarkets directly along with central HR support and additional employee relations roles."

The supermarket is the latest to announce job cuts with Sainsbury's yesterday revealing that it was getting rid of 3,000 roles and closing the remainder of its in-store cafes as part of a cost-cutting exercise.

Earlier this month, Asda axed 13 regional managers as part of a restructuring of staff.

08:17:38

Good news for drivers and businesses - thanks to Donald Trump

By James Sillars, business and economics reporter

Let's start with the latest market moves credited to remarks by US President Donald Trump.

And it is good news I bring for businesses and motorists because there's been a sharp fall in oil prices.

Brent crude is almost $3 a barrel down on its peaks this week, easing to $78 which, if sustained, should limit any further hikes at the fuel pumps.

The fall is being explained by Mr Trump's speech to the World Economic Forum in Davos yesterday that confirmed he planned to force major oil-producing nations to cut global prices.

If he doesn't get his way, he could potentially move unilaterally to sharply raise US production, which would have the effect of reducing prices.

Elsewhere on the financial markets this morning, it's a tentative start for the FTSE 100 at the end of a week with lots to digest.

The index is 0.2% up at 8,582.

Burberry was among its constituent companies until a demotion last autumn.

The struggling luxury brand's shares clawed back some value on Friday after its festive sales figures came in better than the market expected.

The stock was up 15% in early dealing after it reported a 4% fall in comparable sales during the final three months of 2024.

Analysts had expected Burberry to report a 12% decline.

While sales in Asia remained weak, falling 9% on the same period last year, growth in the Americas was credited with boosting business.

08:02:43

Experts reveal the wines they swear by that are under a tenner

A good bottle of wine doesn't have to cost the earth.

Two experts have revealed to the Money blog their top wines for under £10.

Henny Zinzuwadia, sommelier at Pahli Hill, gives her picks...

LB7 Lisboa Red 2018/19 - £8.99 at Majestic Wine

LB7 Lisboa Red is an exceptional value wine from Portugal. This blend of Touriga Nacional and Tinta Roriz offers a rich, ripe fruit profile with a pleasant touch of spice. The wine is bold but smooth, making it a versatile choice for everything from roasts to charcuterie boards. Its approachable nature and distinct character make it a great crowd-pleaser that won't break the bank.

The Society's Cava Reserva Brut 2021 - £9.76 at The Wine Society

This sparkling wine is a fantastic alternative to champagne without compromising on quality. The Society's Cava Reserva Brut 2021 is crisp, refreshing, and packed with lively bubbles. It offers delicate flavours of green apple, citrus zest, and a hint of toasted brioche, all backed by a fine minerality. Ideal as an aperitif or paired with light seafood dishes, it's a sparkling wine that brings a sense of occasion without a crazy price tag.

Val de Loire "Le Talent d'Achille" Chardonnay, Domaine Guenault 2023

For an affordable yet elegant white, the Val de Loire 'Le Talent d'Achille' Chardonnay is a great pick. This Loire Valley Chardonnay is bright and fresh, with crisp flavors of citrus and green apple balanced by a touch of creaminess. The wine's clean, mineral-driven finish makes it a versatile, easy-drinking wine that brings plenty of character at a great price.

Marko Bajagic, restaurant manager and wineconnoisseurat Zoilo, picks these bottles...

Beefsteak Club Malbec 2022-23, Mendoza -£6.99 at Majestic Wine

Lush. Juicy. Ripe. Created to celebrate centuries-old dining clubs where steak was a symbol of wealth - and the ideal partner to Malbec.

Catena Rose 2023, Mendoza - £9.99 at Majestic Wine

Straight from the high-altitude mountain vineyards of Mendoza, this rose – a blend of Syrah, Grenache, Malbec, Sauvignon Blanc and Chenin Blanc – hits the sweet spot between fruity and elegant.

Delicate fruit and floral aromatics, balanced with a bit of creaminess and salinity, make this a sublime match for seared salmon, vegetable and goat's cheese terrine, or strawberry tart.

Beefsteak Club Reserve Organic Tannat 2018 - £10 at Ocado

Salta, north of Argentina, from a not-so-well-known grape which can be a great discovery for wine aficionados during a meal. Although it's hardly drinkable on its own, charcuterie, along with steaks and games, would be a great pairing to help with the strong tannic structure of the wine.

Hand-picked tannat grapes are grown organically on deep sandy loam soils in the Cafayate Valley of Salta province, one of the highest wine-growing regions in the world.

Deep inky purple in colour, this wine is intensely flavoured with ripe dark fruits, cassis, chocolate, tobacco and spice from oak. Full on the palate, the tannins are smooth and perfect for pairing with a first-class steak.

07:08:00

Top 10 most memorable advertising slogans revealed by YouGov poll

Tesco has topped the list of the UK's most memorable ad slogans.

"Every Little Helps" was mentioned more times by members of the public than any other slogan in a recent survey conducted by YouGov.

Nike's "Just Do It" and "I'm Lovin' It" from McDonald's came in second and third, respectively.

"These slogans aren't just marketing tools, they've become part of our language, humour and shared experiences, reflecting the essence of British culture and the creativity of the ad industry," said the chief executive of the Advertising Standards Authority.

Here's the full list:

1. "Every little helps" - Tesco

2. "Just Do It" - Nike

3. "I'm Lovin' It" - McDonald's

4. "Beanz Meanz Heinz" - Heinz

5. "Autoglass Repair Autoglass Replace" - Autoglass

6. "For mash get Smash" - Smash

7. "Washing machines live longer with Calgon!" - Calgon

8. "Should've gone to Specsavers" - Specsavers

9. "The Best a Man Can Get" - Gillette

10. "More reasons to shop at Morrisons" - Morrisons

20:27:01

ONS to spend £8m on new staff to fix 'unusable' employment data

The government's statistics agency is reportedly going on an £8m hiring spree in an attempt to fix its "virtually unusable" data on unemployment and wages in Britain.

The Office for National Statistics (ONS) publishes a monthly labour force survey (LFS) which is considered one of the most important datasets used by the government and the Bank of England when setting interest rates and taking decisions affecting millions of households.

But low response rates mean policymakers are "flying blind" according to Andrew Goodwin, the chief UK economist at Oxford Economics.

To fix this, the Guardian reports the ONS is hiring an army of interviewers to help increase the reliability of the LFS, the largest household study in the UK.

It says the ONS will use 148 agency staff to add to its 549-strong permanent workforce, as well as hiring 200 face-to-face interviewers by the end of May 2025.

19:40:01

HSBC shuts payments app Zing one year after launch

HSBC's decision to close its international payments app Zing could trigger around 400 job losses, a source familiar with the matter told the Reuters news agency.

The staff at risk of redundancy will be informed from today, according to the source, who said the approximate 400 figure included a substantial number of non-HSBC external customer support staff.

HSBC launched Zing last year in a bid to compete with fast-growing digital rivals such as Revolut and Wise.

There were plans to open the app on two continents by the end of 2024, but it never expanded outside the UK.

The decision to shut Zing was part of the group's "simplification" strategy announced in October last year, the bank said.

19:04:01

Economists warn UK could face more frequent recessions

Britain is likely to face more frequent technical recessions, according to economists at Bloomberg.

They say a slowdown in the economy's speed limit has made it vulnerable to growth shocks.

Between 1995 and 2009, the UK's trend growth rate - the pace with which the economy can sustainably grow without boosting inflation - was 2.5%, though it has now dropped to 1.2% according to analysis.

Dan Hanson, chief economist at Bloomberg, says there have been 15 episodes since 1955 when the economy was hit by a shock large enough to trigger a technical recession.

But future recessions may now occur once every five years, rather than the historical average of once every eight, he says.

"There are good reasons to think technical recessions will be more frequent in coming years than in the past," Mr Hanson said.

"The UK's trend rate of growth has fallen, meaning the shocks that would previously have prompted growth just to slow, are now enough to generate a fall in output."

In a slight boost, Mr Hanson adds that it is unlikely big recessions accompanied by a surge inunemployment will be more prevalent.

18:20:01

Real Madrid become first club to earn one billion euros in one year

Real Madrid have become the first football club to generate more than a billion euros (£845m) in revenue in a single year, topping a financial services company's league.

Deloitte said the Spanish giants had overtaken Manchester City to reclaim top spot in its Football Money League.

Real doubled their matchday revenues to €248m (£209m) last season after renovations to their stadium and enjoyed a 19% increase in commercial revenue thanks to a new sponsorship from HP.

All in, Real Madrid recorded €1,045m (£883m) in revenue in the 2023/24 season, putting them well ahead of City who recorded €837m (£707m).

Five other English clubs made the top 10: Manchester United (4th, £650m), Arsenal (7th, £605m), Liverpool (8th, £603m), Tottenham Hotspur (9th, £519m) and Chelsea (10th, £450m).

Money blog: Experts reveal the wines they swear by that are under a tenner (2025)

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