ICELAND boss Richard Walker has had a cheeky pop at loan sharks by apologising for taking business off them during the profitable Christmas period.
In a video posted on social media, Mr Walker warned lenders that their Christmas may not be as profitable as they hoped for.
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“Sorry, loan sharks,” he said. “Sorry if your Christmas is less merry.”
He said interest-free micro-loans offered by the supermarket’s Food Club have been so successful that 71 per cent of users said the scheme made them less likely to fall into debt or miss bill payments.
The club lends cash at zero interest to hard-pressed families in the run-up to the festive period to help them spread the cost of their seasonal treats.
It has lent £7.2million to 28,000 customers since it was launched in 2022.
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Mr Walker said: “There is a serious point behind this film — micro-credit works.
“And it can be vital at Christmas to protect vulnerable consumers from loan sharking.”
The not-for-profit firm Fair4All Finance reckons more than three million people in the UK have borrowed from an illegal moneylender in the last three years.
Mining freeze
SHARES in mining giant Anglo American plunged around 15 per cent yesterday after the company revealed drastic cost-cutting plans.
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It will slash production at its iron ore operations in South Africa and at its Chile copper mine to save £1.5billion by 2026.
Shares are down 42 per cent since this January.
Houses down
HOUSEBUILDER Berkeley Group warned that home sales will “remain subdued” in the face of a challenging market.
Its reservations dropped by a third in the last six months as it completed fewer homes.
Rivals warned of weakness in the market in the face of soaring interest rates.
This post first appeared on thesun.co.uk
