Sainsbury’s is axing all of its remaining recycling centres at around 250 of its stores across the UK, despite boasting of its commitment to making it easier for customers to recycle (The Times £).
The billionaire co-owner of Asda has denied taking money out of the company and sought to defend the supermarket’s complex ownership structure (The Telegraph £). In a rebuttal to MPs, Mohsin Issa pushed back against claims that he and his brother Zuber paid themselves dividends from Asda after completing their £6.8bn takeover in 2021.
UK inflation held steady in September at 6.7%, maintaining pressure on the Bank of England to hold firm in its efforts to curb price growth (The Financial Times £).
Consumer price inflation remained steady in September despite another drop in food price growth, as higher petrol prices helped sustain pressures in a slowing economy (The Times £).
Food and non-alcoholic drink prices fell by 0.2% on the month – the first monthly decline since September 2021 – helped by fierce competition among supermarkets driving down prices for milk, cheese and eggs, as well as mineral water, soft drinks and juices (The Guardian).
High street shops could see their business rates bill increase by up to £1.95bn next year because the rate charged is linked to inflation (The Guardian).
Amazon plans to start delivering packages by drone to some parts of the UK by the end of next year (The Times £).
Marks & Spencer has relaunched its career programme to help school leavers and graduates learn how to become retail “leaders” after a year’s hiatus (The Times £).
Food deliveries have fallen at Just Eat Takeaway as customers return to restaurants (The Mail).
Easing cost pressures have helped sales and margins to recover at Cake Box Holdings, the UK maker of fresh cream cakes (The Times £).
A special report in The Financial Times (£) focuses on sustainable food and agriculture. One article looks at how chicken went from luxury to staple, another looks at ’precision fermentation’ start-ups pursuing palm oil alternatives and a third examines how China’s appetite for soya has hindered its self-sufficiency drive.
No comments yet