UK supermarkets further increase plastic footprint despite pledges November 28, 2019 Seven out of the UK’s top 10 supermarkets increased their plastic footprint , as the total amount of plastic packaging used rose to 900,000 tonnes a year. Out of the UK’s 10 largest supermarkets, only Waitrose, Tesco and Sainsbury’s achieved marginal reductions over the past 12 months. Read more: Unilever pledges to cut plastic use [...]
Abu Dhabi and Kuwait funds plan investment in Saudi Aramco IPO November 27, 2019 The national investment bodies of Abu Dhabi and Kuwait are planning investments in Saudi Aramco’s upcoming initial public offering (IPO). Multiple sources told Reuters that the Abu Dhabi Investment Authority (Adia) is taking a stake worth at least $1bn (£780m). Any final decision on the size of the investment will need board approval. Read more: [...]
Britvic profit loses its fizz as France law hurts sales November 27, 2019 Fizzy drink maker Britvic suffered almost a 25 per cent plunge in annual profit, it revealed today, following a writedown of French assets. Read more: Squashed: Britvic looks to cut final salary pensions The figures Profit before tax sank 24.3 per cent to £110.3m for the year to the end of September after Britvic struggled [...]
Traditional Christmas dinners ‘to cost more this year’ November 26, 2019 Buying a traditional Christmas dinner could set consumers back more than usual this festive season as issues with supplies have caused prices to increase. High summer temperatures has reduced the number of turkey eggs ,while flooding and rain have affected the supply of vegetables including Christmas dinner staples potatoes and Brussels sprouts. Read more: The [...]
Pets At Home profit jumps in first half as it eyes top-end full-year earnings November 26, 2019 Pets At Home’s share price surged in trading today after it posted a bumper profit increase and strong like-for-like sales growth for the first half of its financial year. Read more: Short sellers tail off at Pets At Home The figures The retailer enjoyed an 18.9 per cent year-on-year increase in underlying profit before tax [...]
Troubled burrito bond chain Chilango postpones AGM amid questions over future November 26, 2019 Chilango has postponed its annual general meeting (AGM) amid continued questions over the burrito chain’s future, City A.M. can reveal. The Mexican restaurant group is in talks with restructuring firm RSM to secure its long-term future, and is almost eight weeks late posting its accounts to Companies House. Read more: FCA to ban marketing of [...]
Topps Tiles warns General Election jitters are causing its sales to slump November 26, 2019 Topps Tiles posted a dip in profit for its full-year results today, as it warned the upcoming General Election has hurt customer demand. The figures Profit before tax slipped 1.6 per cent year on year to £12.5m for the 12 months to the end of September. Revenue climbed 1.1 per cent to £219.2m while Topps [...]
Investigation finds Black Friday deals cheaper at other times of year November 26, 2019 Almost all Black Friday deals can be found cheaper or available for the same price at other times of the year, an investigation has found just days before the annual shopping event. An investigation tracked 83 products on sale on Black Friday last year, from six months before the discount day until six months after, [...]
LVMH strikes $16.2bn deal for jeweller Tiffany November 25, 2019 Louis Vuitton owner LVMH has struck a $16.2bn (£12.6bn) deal to buy iconic Fifth Avenue jeweller Tiffany after first launching a bid late last month. The $135 (£105) per share deal will see the jeweller join top name brands such as Givenchy and Christian Dior under LVMH’s umbrella. Read more: When a fat finger caused [...]
Intu sells retail park to New River REIT for £40m November 25, 2019 Retail landlord Intu has sold a Northern Ireland retail park to property investment trust New River REIT for £40m. The sale of Sprucefield Retail Park in Lisburn brings Intu’s year-to-date disposals total to £268m, as the shopping centre operator aims to fix its balance sheet. Read more: New River REIT swings to a loss on [...]