Asda is to unveil a strategy to help cut down on single-use plastics, pledging that “greener” products without packaging will not carry a hefty price tag, as it opens a sustainability trial store. Loose fruit and veg will cost no more than wrapped as part of move to cut down on single-use plastics. (The Guardian)

Danone is overhauling its management and plans to sell underperforming businesses as it seeks to recover from the shock of the coronavirus pandemic that has sent its shares to six-year lows. (The Financial Times £)

The FT’s Lex column writes: “To kick things off the company is putting two assets on the block: plant-based Vega brand and the Argentine operation… Compared with the aggressive disposals at Nestle, or even Unilever’s pending sale of its €3bn tea business, that is tantamount to shuffling yoghurt pots on the Titanic.” (The Financial Times £)

Visa and Mastercard have been accused of cashing in during the coronavirus crisis by charging “excessive fees”. British retail groups say the scheme fees charged by payment firms have almost doubled in the last two years. (The BBC)

Land Securities is to sell off close to a third of its £12.8bn property portfolio, as it seeks to reduce its exposure to struggling sectors such as retail (The Financial Times £). One of Britain’s biggest commercial property owners has announced an overhaul that includes selling a third of its portfolio to reinvest in new developments and regeneration projects (The Times £). Land Securities is selling its retail parks as the Covid-19 crisis pushes more shoppers online (The Daily Mail).

Boots roped off office toilets for executives during the pandemic, making it harder for ordinary employees to practise social distancing. (The Guardian)

Northern Irish food business Finnebrogue Artisan is creating 300 jobs at a new factory producing plant-based meat substitutes. It will invest £25m to focus on products aimed at “flexitarians” who are reducing their meat consumption. (The Times £)

A rescue deal to buy fast food chain Abokado out of administration will not save the jobs of its 150 staff. (The Telegraph)

Restaurant chain German Doner Kebab is set to open 12 restaurants by the end of the year, creating 480 jobs across cities including Liverpool, Nottingham, Bradford and Plymouth. (The Daily Mail)

Alibaba is spending $3.6bn to buy a controlling stake in one of China’s top supermarket operators as it doubles down on grocery delivery, a key growth engine for the ecommerce group during the pandemic. (The Financial Times £)

China has been a graveyard for Western retailers, writes Sky News as one by one, big brands have withdrawn. The takeover of Sun Art by Alibaba marks a continuation of the slow retreat from China’s retail sector by Western players. (Sky News)

Topics