SFO brings further charges against two people in ongoing Unaoil investigation May 22, 2018 The Serious Fraud Office (SFO) has announced that it is bringing further charges in the ongoing investigation into accusations of bribery, corruption and money laundering at Unaoil. The SFO said today that Basil Al Jarah and Ziad Akle have been charged with conspiracy to give corrupt payments to secure the award of a contract worth [...]
MPs to launch select committee inquiry into Sainsbury’s Asda merger May 20, 2018 MPs are planning their own inquiry into the tie-up of Sainsbury’s and Asda, separate to the competition watchdog’s probe. The Environment, Farming and Rural Affairs (EFRA) committee is gearing up to investigate the deal due to concerns for the impact it could have on suppliers to the supermarkets, The Mail on Sunday reported. This comes [...]
Competition and Markets Authority starts scrutiny of Sainsbury’s-Asda merger ahead of formal investigation May 18, 2018 The Competition and Markets Authority (CMA) said today it was kicking off its scrutiny of the proposed merger between supermarket giants Sainsbury’s and Asda. Sainsbury’s announced at the end of last month that it intended to merge with Asda, which is currently owned by Walmart in the US. The two have said a deal will [...]
Morrisons earnings preview: Grocery chain faces uphill battle amid Asda-Sainsbury’s merger May 7, 2018 Grocery chain Morrisons is set to announce its first quarter trading results on Thursday, and the company may have a lot to prove. Analysts at Barclays forecast sales growth of 1.7 per cent, below the company’s figures for the fourth quarter of 2017. If so, it would be the lowest sales growth since the end [...]
Amazon eyed buying Waitrose but was held off by John Lewis Partnership May 6, 2018 Amazon considered an acquisition of Waitrose last year, but was blocked from entering formal talks, reports suggest. A senior executive at the online shopping giant’s UK arm pushed for a meeting with the John Lewis Partnership but was “shut down” by the board, the Sunday Times reported today. The tech company’s acquisition of Whole Foods [...]
Committee chairs Neil Parish and Rachel Reeves to ask competition watchdog to include suppliers in Sainsbury’s Asda probe May 2, 2018 Two select committee chairs have joined forces to ask the competition watchdog to include suppliers in any probe of the Sainsbury’s Asda merger. Neil Parish, the Conservative chair of the Environment, Food and Rural Affairs (EFRA) Committee, told City A.M. that he and Labour MP Rachel Reeves will ask the Competition and Markets Authority (CMA) [...]
How would a potential merger affect Big Four supermarket giants Asda and Sainsbury’s? May 2, 2018 Earlier this week grocery giants Asda and Sainsbury’s sent shockwaves through the retail industry as they announced merger plans. If the proposal is successful, the new organisation could overtake Tesco as the UK’s largest retailer. There are some obstacles to clear before the merger is confirmed of course. The Competition and Markets Authority will have [...]
Sainsbury’s growth falls behind big rivals in latest Kantar figures as it eyes Asda merger to halt Tesco’s march May 1, 2018 The latest grocery market share figures out today from Kantar Worldpanel report strong showings from Tesco and Morrisons while Sainsbury’s growth lags behind. The much-discussed Sainsbury’s merger with Asda, confirmed in detail yesterday, would nab a potential share of 31.4 per cent. For the 12th consecutive period, Tesco has grown more than two per cent, [...]
DEBATE: Would the Sainsbury’s-Asda merger be good for consumers? May 1, 2018 Would the Sainsbury’s-Asda merger be good for consumers? Richard Hunter, head of markets at Interactive Investor, says YES. Large deals such as these will always result in winners and losers, with suppliers and some of the competition potentially falling into the losers camp. However, it is difficult to see that consumers would be anything other [...]
Sainsbury’s boss Mike Coupe apologises for singing “we’re in the money” as concerns grow over Asda merger April 30, 2018 Sainsbury’s boss Mike Coupe was left embarrassed this evening as he was caught on camera singing “We’re in the Money”, on the day the supermarket announced details of a merger with Walmart-owned Asda. Coupe’s little ditty came as unions and MPs raised concerns that the deal could result in job losses and a squeeze on [...]