Sir Philip Green: no room for Scrooges this Christmas

Sorry, no compatible source and playback technology were found for this video. Try using another browser like Chrome or download the latest Adobe Flash Player.

Sorry, video is not available for your device…

Sir Philip Green: no room for Scrooges this Christmas
25th November 2014

Arcadia tycoon Sir Philip Green has announced he thins there is no place for Scrooges this Christmas as he encourages shoppers to spend, spend, spend.

It is expected to be a cut-price Christmas for consumers as retailers slash prices across the board. 

However, one of Sir Philip's brands, BHS, remains in the red as BHS profits dropped 3% following investments in America. Despite this, BHS branches which have begun selling food have performed well.  

There has been something of a takeover frenzy recently as two mergers made the headlines today. It has leaked that Friends Life may takeover Aviva. The markets showed little confidence in the move as Aviva shares dropped. 

It was also announced that BT are in preliminary talks with Telefonica to buy back O2. BT originally sold the company to Telefonica for around £17.7billion and it is thought they will pay around £10billion to buy it back. 

More in Business

Government's Channel 4 privatisation plans accidentally revealed

The paper, labelled 'official - sensitive - commercial', was titled 'Assessment of Channel 4 Corporation reform options'

Rudeness in the workplace: Nine of the most offensive things...

What someone might view as a flippant comment could lead to repercussions

What to do if you own a Volkswagen diesel

Volkswagen has said 11 million cars are affected