CMA bosses would have charged Asda more for failing to comply with fuel pricing probe July 19, 2023 The co-owner of Asda, Mohsin Issa, has said he thought it was ‘unfair’ for competition watchdog bosses to say they would have charged the grocer more if they could for failing to provide relevant info for its probe into fuel pricing. In June, Asda was fined £60,000 by competition watchdog for failing to co-operate properly [...]
Grocery inflation remains ‘incredibly high’ but falls for fourth straight month thanks to supermarket promotions July 18, 2023 Grocery price inflation has seen the biggest drop since its peak in March but remains “incredibly high”, figures show. Supermarket promotions helped the figure fall to 14.9 per cent in the four weeks to July 9, down from 16.5 per cent over the previous month, according to analysts Kantar. It is the fourth month in [...]
Shapps to ask supermarkets to ‘explain themselves’ over pump price hikes July 16, 2023 Supermarket bosses are set for showdown talks with the government next week over soaring prices at the pumps. Energy Secretary Grant Shapps will meet with chiefs from Asda, Sainsbury’s, Morrisons and Tesco, with the minister vowing to slam “the brakes down on the mistreatment of motorists.” In a column in The Sun, Shapps said he [...]
Co-Op announces new chair as ‘ideal person’ to take UK’s fifth biggest grocer forward July 13, 2023 The Co-op announced has announced a new chair, with Debbie White set to succeed Allan Leighton when he steps down in February 2024. White has held a number of important executive roles, having served as chief executive of Interserve and a senior director at Spire Healthcare. White will replace Leighton, who is approaching the end [...]
The Notebook: Victoria Scholar on good news for inflation, the economics of Taylor Swift and the state of crypto July 6, 2023 Where the City’s movers and shakers get a few things off their chest. Today, it’s Victoria Scholar from Interactive Investor Supermarkets sound a positive note on inflation Some good news on inflation at last – Sainsbury’s says food inflation is starting to fall. Its CEO Simon Roberts said the company is “putting all our energy [...]
Commons Committee demands answer from Asda over ‘unclear’ fire and hire evidence July 5, 2023 The Business and Trade Committee is demanding Asda provide more evidence over it’s “unclear” fire-and-rehire strategy, after some 7,000 workers were threatened with the practice back in May. Chair of the committee, Darren Jones, is hauling the ‘Big Four’ grocer back in front of MPs after it said it was “concerned about apparent discrepancies” between [...]
CMA takes aim at supermarkets for weakening fuel price competition – as Brits pay nearly £1bn more for fuel July 3, 2023 Increased supermarket profit margins led to drivers paying almost £1bn more for fuel last year, the Competition and Markets Authority (CMA) has found. Following a year long investigation, the watchdog said today that average supermarket fuel margins rose by 6p per litre between 2019 and 2022, with £900m syphoned out of customers pockets in total. [...]
Vodafone CEO: A merger with Three isn’t a threat to national security or competition June 30, 2023 Vodafone chief executive Ahmed Essam has defended plans to merge with Three.
Teasing supermarket execs won’t stop inflation, it’s suppliers we need to grill June 28, 2023 Supermarket bosses are an easy shot, but its suppliers making profits which would dwarf those of Tesco or Sainsbury's.
David Lloyd could be put up for sale as owners eye £2bn price tag June 27, 2023 TDR Capital is reportedly mulling a sale of its health and fitness business David Lloyd Leisure. The private equity firm is understood to have drafted in Morgan Stanley to advise on potential suitors for the business, Sky News reported. A sale will only be considered by if it draws a “sufficiently attractive valuation” for TDR, [...]