Russell Lynch, from the Evening Standard's City Desk has the latest money news.
Despite Sainsbury’s selling 57 million mince pies, sales are down.
The supermarket has felt the effect of the festive price wars as it reports that it’s sales were down 1.7 per cent on last year. It’s been reported that the shop has actually sold the same amount of produce and products, however this year at a lower price.
Retailers didn’t get what they wanted for Christmas
Alcohol retailer Majestic Wines has reported a 10 per cent drop in sales. This is due to being priced out by the supermarkets battling one another for the best Christmas deals causing a pinch for the company. Online fashion retailer BooHoo has recorded a huge 38 per cent fall in sales.
Eurozone economy slowing
The European Central Bank will be releasing figures today that will show an outright fall in prices across the Eurozone since 2009. This could be the ECB may have to print money to boost inflation, that could result in the countries economies will pick up again.