Autumn Budget 2017: Government to investigate tax on single-use plastics November 22, 2017 Plastics are set to come under scrutiny as the chancellor today announced plans to investigate charges on single-use plastic items. Philip Hammond said he would work with environment secretary Michael Gove to look into how the tax system and charges on single-use plastics could reduce waste. “The UK led the world on climate change agreements [...]
Cabot Credit Management ditches £1bn float citing poor UK market conditions November 16, 2017 Cabot Credit Management, Britain’s biggest debt collector, abandoned plans to float yesterday, one in a series of ditched IPOs in recent months. In a statement, Cabot said that current conditions in the IPO market meant it would not be following through on the £1bn float. “The high level of engagement and interest that we received [...]
Battle of the sarnies: From Tesco to Benugo, which Christmas sandwich will come top of our list this year, and which one was literally inedible? November 15, 2017 We set off into the City to gather festive sandwiches from supermarkets and fast food chains far and wide to see which of them is worthy of Santa himself, and which were a nightmare before Christmas. Eat Turkey and cranberry sandwich ★★★☆☆ Tastes alright, but nothing to write to Santa about. Solid fillings, pleasantly sweet [...]
Kantar figures: Lidl maintains position as UK’s fastest growing grocer as Sainsbury’s outpaces Big Four November 14, 2017 Lidl has kept its crown as the UK’s fastest growing grocer for a fifth quarter in a row, as Sainsbury’s becomes the best performing of the Big Four. Figures published by Kantar Worldpanel this morning show that sales were up 15.1 per cent at Lidl in the 12 weeks to 5 November, with 10.6m households [...]
Nisa members have voted in favour of Co-op’s takover offer November 13, 2017 Members of convenience chain Nisa have voted to accept The Co-operative's £140m offer for the business. The offer just scraped in over the minimum 75 per cent approval rate, with 75.79 per cent in favour and 24.21 per cent voting against the Co-op’s offer. The Co-op will now acquire the business for a total of [...]
Co-op awaits approval of Nisa members for its £140m takeover November 12, 2017 Members are gearing up to vote on the proposed buyout of convenience chain Nisa by the Co-operative. Shopkeeper members will vote tomorrow at about 11am in an emergency general meeting. Co-op needs 75 per cent of votes cast to approve for its bid of almost £140m. It is expected that the vote will have a [...]
Former Tesco commercial director Kevin Grace sues for unfair dismissal after 2014 accounting scandal November 12, 2017 Tesco is facing further fallout from its 2014 accounting scandal as a former director claims he was wrongly dismissed. Kevin Grace, the former commercial director, was removed from his job after it emerged that Tesco had overstated profit expectations. Grace maintains he was not responsible for the problem and last year the Serious Fraud Office [...]
Tesco fraud trial: Former chairman Sir Richard Broadbent gives evidence November 9, 2017 Former Tesco chairman Sir Richard Broadbent told a court yesterday of the pressure facing Tesco in 2014 which caused him to replace the company’s chief executive. As early as 2013, Broadbent told the jury, “you could tell results were beginning to show a downward trend”. He said he had taken the decision to find a [...]
Marks and Spencer turnaround: Retail veteran Steve Rowe must make M&S tills jingle all the way during Christmas period November 9, 2017 Marks and Spencer started this week on a cheery note with the launch of its Christmas advert – but the festive feel didn’t last long for the high-street stalwart. The new advert sent Twitter into a tizzy on Tuesday with some viewers convinced that one of the characters was mouthing a swear word in a [...]
Nisa shopkeepers try to block Co-op takeover ahead of vote November 5, 2017 A set of Nisa shopkeepers are hoping to block a takeover of the business by the Co-operative Group. The Co-op made an offer to buy convenience store Nisa for £137.5m last month, with the board unanimously voting in favour of the deal. The shopkeepers will vote on the merger on 13 November. More than half [...]