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 [...]
Mark Kleinman’s must-read column: Apollo, Ofgem and Hargreaves Lansdown May 18, 2023 Mark Kleinman is Sky News’ Business Editor and writes a must-read column for City A.M. on the biggest business stories of the week Apollo’s failed missions will make take-private landings harder Apollo and ground-breaking missions of accomplishment have long been synonymous. Right now, for the US-based investment firm of the same name, simply getting the [...]
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 [...]
Government permits ‘long lorries’ on British roads – but are they safe? May 10, 2023 The Department for Transport (DfT) has today announced legislation permitting ‘long lorries’ to be rolled out on UK roads, estimating a £1.4bn boost to the economy as a result. The new laws will allow longer semi-trailers (LSTs) of up to 18.55 metres on British roads, over two metres more than the standard size, from 31 [...]
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
Sainsbury’s profits takes inflation and cost of living hit as supermarket faces stark choice April 27, 2023 In its full year results for the year ending 4 March 2023, Sainsbury’s pre tax profits fell from £854m to £327m as the retailer battled to keep its pole position as one of the UK’s largest supermarkets. The supermarket giant said it was impacted by non-cash asset impairments, driven by a higher discount rate, and [...]
Calm before the storm? Private equity deals come roaring back after subdued start to the year April 25, 2023 Private equity deals in the UK slumped to their lowest level since 2020 in the first quarter of the year - but analysts are predicting it may just be the calm before the storm.
Insolvencies at ‘jaw dropping’ level as debt industry warns UK economy ‘is not out of the woods yet’ April 18, 2023 More companies in England and Wales entered insolvency during March than at any point since monthly records started three years ago, according to official data that showed a 16 per cent increase on a year ago. The Insolvency Service reported 2,457 corporate insolvencies last month, up from 1,784 in February. The rate of companies falling into insolvency [...]
RAC: Tesco, Asda, Sainsbury’s and Morrisons are ripping off motorists – but which Big 4 retailer has the cheapest petrol? April 5, 2023 Motoring group RAC today accused Britain’s big four supermarkets of overcharging drivers at the petrol pumps.