Coffee beans and ready meals send food inflation soaring yet again – and peak is yet to come May 2, 2023 Food inflation reached new highs in April soaring 15.7 per cent, according to new data, with the cost of convenience food such as ready meals and coffee beans increasing due to supply chain woes. While shop price inflation fell slightly by one per cent in the month to 8.8 per cent, food prices remained at [...]
Sainsbury’s warns of lower profit as grocer anticipates inflationary pressures April 28, 2022 Sainsbury’s has warned of a lower profit for the coming year as the grocer faces uncertainties including high inflation and cost of living pressures on shoppers. Sainsbury’s posted underlying profit before tax of £730m for the 2021/2022 financial year, a 104 per cent boost on the year prior, but warned of challenges down the line. [...]
Healthy goals: England captain Harry Kane invests in low-calorie doughnut firm November 14, 2022 England football captain Harry Kane has invested an undisclosed sum of cash in a low-calorie doughnut firm, CityA.M. can exclusively reveal. Urban Legend, which offers health-conscious shoppers a range of non high fat, sugar, salt baked goods, has added the sport star to its list of investors. The brand has secured £10m investment in its [...]
Coalition of 15 investors with total assets of £2.4trn plead with firms to protect lowest-paid workers April 14, 2023 A coalition of investors are demanding that businesses take “decisive action” to protect their lowest paid workers during the cost of living crisis. The coalition, which includes 15 investors with a combined £2.4trn in assets under management, argued that the lowest-paid workers are “disproportionately impacted by the rising cost of living.” Companies should ensure that [...]
McDonald’s is latest to shutter on Monday for Queen’s funeral September 14, 2022 Fast-food giant McDonald’s is the latest retailer to close its doors on Monday for the Queen’s funeral. The restaurant chain’s UK arm announced it would close until the early evening as up to a million descend on central London to say goodbye to Her Majesty. Earlier this week, Lidl, Waitrose and Sainsbury’s and Tesco were among [...]
Sainsbury’s investors back supermarket as it refuses living wage accreditation July 7, 2022 Sainsbury’s saw a minority of shareholders revolt over staff pay at its AGM on Thursday morning, with nearly 17 per cent backing a resolution for the supermarket to gain Living Wage accreditation. Some 16.7 per cent shareholders supported a resolution that urged the supermarket to become a Living Wage accredited employer. The resolution required 75 [...]
Bestway Group ‘not considering’ bid for Sainsbury’s despite snapping up major stake in supermarket giant January 27, 2023 Bestway Group has expanded its investment empire to British supermarkets, snapping up a stake in Sainsbury's.
Co-op Bank buoyed by interest rate rises as takeover speculation continues April 28, 2023 The Co-operative Bank has reported a jump in income as the latest lender to be boosted by higher interest rates which have pushed up the cost of borrowing. The company said its net interest income – the difference between what a bank charges for loans and pays for savings – surged by a fifth to [...]
Grocery inflation dips by just 0.2 per cent as Aldi now has a tenth of the market April 25, 2023 Grocery price inflation dipped slightly in April – but consumers are still paying 17.3 per cent more than this time last year, figures show. Kantar warned that the fall from last month’s 17.5 per cent only meant that prices were not increasing as quickly after 10 months of double-digit growth. As consumers continued to find [...]
Tesco prepares its quarterly results as UK competition regulator circles supermarket June 11, 2023 Tesco is set to report its first quarter trading results on Friday as the UK’s competition regulator circles the country’s largest supermarket chain over concerns about its pricing strategies. Last week, it emerged that consumer goods champion Which? had reported Tesco to the Competition and Markets Authority (CMA) over claims that it does not display [...]