No comment from Tesco on takeover talk as it promises customers a good Christmas October 6, 2021 Tesco has denied its share buyback programme has anything to do with private equity takeover rumours. Following US private equity firm Clayton, Dubilier & Rice winning Morrisons at auction with a bid of £7bn, Tesco and Sainsbury’s have been singled out as next in line for a takeover. Tesco said it would purchase £500m of [...]
Shoppers are already panic buying frozen turkeys as Christmas shortage looms October 6, 2021 As a shortage of turkeys is looming this Christmas, shoppers are already buying frozen turkeys in a bid to avoid any potential disruption to their Christmas dinner, the boss of Tesco has said. The supermarket giant said it was confident of good product availability for Christmas but there could still be “bumps in the road” [...]
Fizz is the fun we need: Your guide to sparkling wine October 6, 2021 After a year and a half of lockdown there is an undeniable thrill in leaving the living room. As we head into town to gossip once more by the water cooler, we deserve more of a celebration than an oat-milk latte clutched on the commute. Times like these call for sparkling wine, the true beverage [...]
One in three Brits plans to stockpile food and drink this month for Christmas October 6, 2021 One third of consumers have already stockpiled food and drink items for Christmas, or are likely to before the end of the month. A survey from Lumina Intelligence found that more than half (56 per cent) of consumers were somewhat worried about media coverage of others stockpiling. 10 per cent said they were very worried. [...]
European markets tank on toxic mix of threats October 6, 2021 European markets tanked today, driven by a toxic mix of mounting “stagflation” fears, looming rate hikes and soaring energy costs. London was among the worst performers as investors mull whether the British economy could be barrelling toward a biting bout of “stagflation” that would squeeze businesses. The capital’s premier index plummeted 1.28 per cent to [...]
Tesco hikes profit forecasts and launches share buyback programme October 6, 2021 Tesco, the UK’s largest supermarket, has hiked its forecasts for full year profits and kicked off a share buyback programme. Stronger than expected demand for the food retailer’s products prompted it to raise expectations for retail operating profits to between £2.5bn and £2.6bn. Ken Murphy, chief executive of Tesco, said: “We’ve had a strong six [...]
Supermarket sweep: Sainsbury’s and Tesco singled out as next takeover targets October 4, 2021 Sainsbury’s and Tesco have been singled out as the next targets for buyout firms after the Morrisons deal. US investment company Fortress – which was beaten to the Morrisons takeover by private equity Clayton, Dubilier & Rice (CD&R) at auction – has indicated it is interested in other UK acquisitions. Joshua Pack, financier at Fortress, [...]
Supermarket sweep: Sainsbury’s and Tesco singled out as next takeover targets – CityAM : CityAM October 4, 2021 Sainsbury’s and Tesco have been singled out as the next targets for buyout firms after the Morrisons deal. US investment company Fortress – which was beaten to the Morrisons takeover by private equity Clayton, Dubilier & Rice (CD&R) at auction – has indicated it is interested in other UK acquisitions. Joshua Pack, financier at Fortress, [...]
Morrisons’ chairman calls Christmas supply concerns ‘slightly overblown’ October 4, 2021 Morrisons’ chairman has downplayed concerns over the supermarket supply chain this Christmas. Andy Higginson said he was “not worried” about the challenges arising from a shortage of goods drivers and reports forecasting empty shelves this autumn, the BBC reported. The supermarket boss said problems in the supply chain were “well publicised” and “slightly overblown”. “Supply [...]
Concoction of risks weighs on London markets October 4, 2021 A concoction of risks threatening to scupper the global economic recovery from the Covid-19 crisis weighed on London markets this morning. The capital’s premier index edged down 0.12 per cent to 7,018.60 points during the first couple of hours of trading today. Ongoing supply issues, severe shortages, accelerating inflation and the growing likelihood of central [...]