Issa Brothers double-up Asda and EG Group to create forecourts giant May 30, 2023 Asda has confirmed plans to acquire the UK and Ireland division of petrol giant EG in a deal that will create a UK consumer giant with £30bn-worth of revenues a year. The supermarket, which is headed by the billionaire Issa brothers, has purchased the brothers’ other business, the EG Group, for £2.27bn. Asda is now [...]
Morning in the City: Asda-EG tie up, Home REIT update, US debt ceiling talks May 30, 2023 Welcome to the live blog for Tuesday 30 May, after a nice bank holiday weekend!
Asda owners tying up £10bn merger with petrol giant EG May 25, 2023 The billionaire owners of Asda and petrol giant EG are reportedly gearing up to tie a ribbon on their £10bn merger in Britain. The deal, which will create a cluster of 170,000 employees and revenues of £30bn, is set to be announced on Friday, according to reports in Sky News. If confirmed, the group will [...]
Tesco boss John Allan quits: Britain’s biggest supermarket concerned behaviour claims are ‘distraction’ May 19, 2023 John Allan, the chair of Tesco, will quit his role fearing accusations about his behaviour are becoming a “distraction”. The former president of the Confederation of British Industry (CBI), which has been embroiled in serious accusations of sexual misconduct including rape, will step aside from Britain’s biggest supermarket. In a trading update late on Friday [...]
Asda accused of ‘fire and rehire’ in row over pay cut plans for 7,000 May 18, 2023 Asda and a union representing 7,000 workers have entered into a furious row, after the supermarket giant was accused of “inexcusable” pay cut plans. The chain rejected claims it is going to cut the pay of 7,000 low-paid retail workers, insisting it is in the middle of a consultation to remove an “anomaly” in the [...]
Tesco cuts price on 30 own brand products including pasta and oil as supermarket wars continue May 16, 2023 Tesco has announced another round of price cuts on its own-brand pasta and cooking oil as it sees deflation making its way through to cupboard essentials. The UK’s biggest supermarket is dropping the price of 30 products, with 15p off 500g and 1kg packs of own-brand pasta, 14p off its one litre vegetable oil and [...]
Some meat, yoghurt and vegetables have doubled in price in a year, new data shows May 16, 2023 Some meat, yoghurt and vegetables are among items that have doubled in price compared to a year ago, according to new figures from consumer group Which? The group urged Prime Minister Rishi Sunak to intervene on behalf of struggling consumers as its latest data shows food inflation remaining at “shockingly high levels”. The figures come ahead of Tuesday’s [...]
Butcher saved by former Asda boss resumes trade May 8, 2023 Farmison & Co will once again begin selling its upmarket meats this week as a consortium led by the former chief of Asda look to bring the embattled brand back to life, following its collapse and subsequent rescue deal last month. The luxury butcher, which trades to the likes of Harrods and Fortnum & Mason, [...]
We shouldn’t be running out of tomatoes because we can’t sort out our supply chains May 5, 2023 Over the last month, bad weather in Europe and Northern Africa led to certain salad items being in short supply across the UK. Leading supermarkets, including Tesco’s, Morrisons, Aldi and Lidl all limited the number of tomatoes, peppers and lettuce that consumers can buy. Product shortages aren’t necessarily unusual, but since the pandemic, they have [...]
Let’s be honest, we can’t keep blaming supermarkets for the sky-high food prices May 4, 2023 Supermarkets get all the blame for the sky-rocketing food prices. But they've tried to keep prices as low as possible against inflationary pressures and supply chains disruptions, writes Matthew Lesh