Consumer goods group Ultimate Products heads for a £100m-plus IPO in the next few days March 1, 2017 Ultimate Products, the innovative consumer goods group, is set for a £100m-plus IPO in London within days. It will list on the main market under the name of UP Global Sourcing Holdings. The IPO’s pricing could take place as early as today. The placing is understood to be substantially oversubscribed with investors taking part believed [...]
Car smashes into City branch of Pret a Manger February 24, 2017 City workers in the Fenchurch Street area seeking their morning coffee and croissant fix will have a little further to go today. Police are investigating after a car smashed through the front of the Pret a Manger branch in Cullum Street last night, putting the store out of action. A Pret spokesperson said the company is helping the [...]
Here’s some food for thought: The courgette crisis is no joke – the UK’s food security is at stake February 17, 2017 News of the so-called courgette crisis has been greeted with a certain amount of mirth in the press. The image of middle-class diners looking lost without their spiralized suppers after an uncommonly soggy winter in Spain was never going to provoke an outpouring of sympathy. However, a new report commissioned by Morrisons today suggests we [...]
Morrisons starts search for more local food suppliers February 17, 2017 Morrisons is looking for the "Innocent Smoothies of tomorrow" in a bid to get more local food to their shoppers. The supermarket wants to recruit more than 200 new suppliers across England, Scotland and Wales over the next year. To find Britain's best local food suppliers, Morrisons will invite foodmakers to pitch their products at a series [...]
World stocks hit fresh record highs as investors around the world look for risk February 16, 2017 World stock markets have risen to fresh all-time record highs as investors around the globe anticipate economic growth after a sustained period of stagnating economies. The MSCI all-country world index added further to Wednesday’s record highs with small gains on Asian markets mimicking those in US markets, despite futures suggesting the rally may pause when [...]
Next chapter in leadership for the high street retailer as John Barton steps down as chairman February 14, 2017 Retailer Next today announced chairman John Barton will step down after 15 years with the company. Barton has been on the board of the firm since 2002 and was appointed chairman in 2006. He will be succeeded by the Michael Roney when he retires on 1 August 2017. Read more: Next and Morrisons: What a difference [...]
Oil prices are up despite US crude stocks delivering “Goliath” increases February 8, 2017 Oil prices have lifted after an initial slump after data showed US crude inventories increased for the fifth straight week but gas stocks declined. Benchmark Brent crude is trading 0.6 per cent up at $55.38 per barrel while West Texas Intermediate (WTI) is up 0.61 per cent at $52.49. The increase came after prices initially fell to lows [...]
Retailers look further afield to tackle lettuce crisis after vegetable shortage hits supermarkets February 8, 2017 The lettuce crisis (yes it has really been called that) has taken hold to such an extent that retailers are frantically searching for other options. The UK relies on a range of growers across southern Europe for its veg stocks in the winter, but some extreme weather has meant extremely bare supermarket shelves after the harvest [...]
Aldi just became the UK’s fifth largest grocer February 7, 2017 Aldi has become the UK's fifth largest grocer by market share, overtaking the Co-op. According to data from Kantar Worldpanel, Aldi grew its sales by 12.4 per cent in the 12 weeks ending 29 January. Its share of the market now stands at 6.2 per cent. Read more: A Lidl competition: Aldi becomes the highest-paying supermarket in the UK [...]
Lettuce panic: Now supermarkets are rationing iceberg lettuce and broccoli February 3, 2017 Planning on stocking up on vegetables for your next weekly shop? Hopefully you don't need more than three iceberg lettuces – because Tesco has now rationed customers per visit, due to poor growing conditions in Europe causing a shortage in stores. Signs have been sent to all Tesco stores to notify customers, apologising for any inconvenience. [...]