The American owner of Boots risks losing billions after the one-time favourite to buy the chemist chain valued the retailer at a steep discount (The Telegraph). Buyout funds CVC and Bain, which bowed out of the running last month, indicated they were willing to pay just £4bn for the business, according to City sources.
British households will be on average £2,320 worse off this year as wages fail to keep pace with rising energy and fuel costs, representing the biggest fall in living standards since records began, according to the Centre for Economics and Business Research (The Times £).
The Sunday Times (£) carries an interview with Pret a Manger boss Pano Christou as the chain faces enormous rises in costs just as its sales recover from lockdowns.
The price of a sandwich, a lunchtime staple eaten by millions across the UK every week, is poised to reach fresh highs as food costs soar, along with bills for labour, packaging and energy (The Financial Times £).
The Financial Times (£) takes a look at inflation in the US: “From bagels to bedpans: rising costs are hitting companies everywhere.”
The British meat industry has called on the government to fast track the export of perishable goods after congestion at the port of Dover left lorries carrying fresh produce waiting up to two days to cross the English Channel (The Financial Times £).
Asda is under pressure to raise pay for its shop floor workers after wage increases at Tesco and Sainsbury’s this week left the Leeds-based chain as the UK’s lowest paying supermarket (The Guardian).
The Mail on Sunday interviews Majestic Wine boss Jon Colley to find out how he has focused on small things to make big improvements at the wine retailer.
A £100m venture fund launched by the founders of Innocent smoothies has secured £48m in public money to invest in next-generation UK consumer brand businesses (The Times £).
‘Shoppers shocked as supermarkets’ online prices jump after ordering’, The Guardian reports. “At some big chains’ sites, the cost shown when you check out is a ‘guide price’ that may change later.”
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