Sainsburys Bank has determined that cost of a two day trip to Moscow to watch the UEFA Champions League final between Manchester United and Chelsea will cost each supporter an average of GBP624. This is without a flight, which would add greatly to the total.
Over GBP300 of this will be spent on the hotel room, with meals, transfers and sundry expenses taking up the rest. The total spend for adds up to around GBP40 million says Sainsburys Bank, which is a lot of money to put into Russian coffers.
Good advice from Sainsburys Bank is to shop around for the best rate on currency since it can make a real difference. They also recommend combining a good rate with good quality service to get the best overall package.
In order to try and balance their accounts Barclays are looking to raise in the region of GBP4 billion from external investors. This is to avoid using a rights issue which could seriously affect their share price.
Barclays Bank currently has one of the lowest capital reserves figures in the industry and will certainly face stiff criticism if this is not being seen to be addressed. Criticism tends to equal falling share prices and the bank do not want to see their position further weakened by such activity.
The bank has many facets to its business, with Barclays Insurance, stockbrokers and high street banking just a number of the best known. There is no question that they are operating well but in the current economic climate and with other financial institutions having suffered already it is important that Barclays can source this additional funding.
Looking at the small business environment in the UK Direct Line has found that nearly a quarter of people running small businesses will not enjoy a day off on bank Holiday Monday.
Compared with the minimum 20 days holiday entitlement given to employees, small business owners take an average of just over 13 days holiday per year. The 20 days does not include Bank Holidays either, of which there are 8 each year. Looking at new start up businesses the holiday situation is even worse. Direct Line found that over 65 percent of people in business for less than 6 months have not taken any time off at all.
A Direct Line spokeswoman, commenting on the findings, commended the dedication shown by small business owners, seeing them working so hard to make their business a success.