Someone is selling a jar of Marmite on eBay for £100,000 as the price war between Unilever and Tesco rolls on October 13, 2016 Someone is trying to sell a jar of Marmite on eBay for £100,000 amid fears that the stocks may run low due to a supply dispute between Tesco and Unilever. Tesco has pulled Marmite and all other Unilever brands from its website after Unilever attempted to increase its wholesale prices. At time of writing Tesco's share price [...]
FTSE 100 drops below 7,000 as Unilever and Tesco share prices fall after Marmite row October 13, 2016 The FTSE 100 has fallen further from its record high as markets digest some shock weak trade figures from China and the US Federal Reserve looks on course to hike interest rates. The bluechip index tumbled below 7,000 points to stand down for the week after reaching a record intraday high of 7,129 on Monday. Miners, [...]
Aldi bags record UK sales growth though profit dips as it plans more UK expansion September 25, 2017 German budget grocer Aldi’s quest for UK domination continues as its sales growth picked up in the UK, though profits dipped in its full-year results due to “continued investment in prices and infrastructure”. The supermarket onslaught continues however, as the firm outlined plans for 70 new supermarkets for 2018 amid its efforts to hit 1,000 [...]
Three former Tesco executives have been charged by the SFO in relation its accounting scandal September 9, 2016 Three former Tesco executives have been charged with fraud by the Serious Fraud Office (SFO) in relation its accounting scandal. The ex-financial director Carl Rogberg, former commercial director John Scouler and the former UK managing director Christopher Bush have been charged for their role in the retailer's profit overstatement. They have each been charged with one count of [...]
Food billionaire Ranjit Boparan set to buy Tesco’s Giraffe restaurants June 8, 2016 Ranjit Boparan, owner of Harry Ramsden's restaurants, is set to buy Giraffe from Tesco. Sky News reports the food tycoon's private investment vehicle Boparan Ventures, which also owns London-based chain Fishworks, is snapping up the restaurant chain for a "modest sum". Boparan, whose known to be worth £1.35bn, is the founder of Britain's biggest chicken supplier 2 Sisters Food Group. Read [...]
Tesco’s share price looks perky as company announces sale of Harris and Hoole coffee chain to Caffe Nero June 23, 2016 Supermarket chain Tesco is selling Harris and Hoole coffee chain to Caffe Nero, it said in its first quarter trading statement this morning. "Together, these sales allow us to place even greater focus on our core UK business," the company said. The retailer's share price was up by 2.82 per cent in early morning trading [...]
Tesco’s share price edges up as it weeds out Dobbies garden centres in £217m sale June 17, 2016 Tesco today confirmed the sale of Dobbies garden centres to a group of investors led by Midlothian Capital Partners and Hattington Capital. The supermarket's share price edged up 0.2 per cent in early morning trading after the announcement. Tescos bought Dobbies in 2008 for £150m and has now sold the garden store chain for £217m – a deal that has [...]
Last Week in the City: Trump threatens trade war March 2, 2018 This week US President Donald Trump threatened a trade war, a number of famous high street names, including Toys R Us and Maplin, got into serious trading trouble and upbeat assessments of the US economy from central bankers helped the US dollar to rally, reversing its recent trend. The FTSE 100 fell 0.2 per cent [...]
Amazon Prime Day 2017: ecommerce giant extends dominance as it courts new members with day of deals July 10, 2017 Amazon Prime Day begins at 6pm today, just as new research reveals that 37 per cent of online spend now goes through Amazon, with the ecommerce giant only set to grow as more consumers turn to online shopping. Nearly three quarters (73 per cent) of people surveyed by ecommerce consultancy Salmon said they plan to [...]
‘Personalised pricing’ could soon make it cheaper to buy your lunch at 3pm July 21, 2017 These days, consumers have generally come to terms with the idea the price they are asked to pay for, say, a train ticket or hotel room can fluctuate – and sometimes quite markedly – depending on when they make the purchase. It would presumably still come as a shock, however, if their local supermarket charged [...]