Activist investor Eminence Capital has built a stake in Dettol and Nurofen maker Reckitt, piling further pressure on the consumer goods group whose share price has plunged over fears that its baby formula business could be on the hook for billions in damages (The Financial Times £).
A feature in The Times (£) examines how Aldi shook up the grocery market. “The German discounter, named Britain’s favourite supermarket, has elbowed its way into the ‘big four’ chains and plans to open 500 more shops,” the paper writes.
The Telegraph (£) goes inside Marks & Spencer’s ‘fortress’ factories as it chases down Waitrose, where hubs produce £1bn of food for retailer, with staff even handcrafting prawn sandwiches.
Cadbury owner Mondelez will face scrutiny over selling chocolate in Russia at its AGM this week (The Mail).
The Guardian writes that the US food industry has long buried the truth about their products. And the paper asks if that is set to come to an end as the FDA is developing front-of-package labels that corporations may have to start printing as early as 2027.
The cost of two ice-cream cones topped with bubble gum has famously risen to £9 in some parts of the UK. With inflation rampant in several countries around the world, The Guardian asks is the price of cooling down on a hot day creeping up globally?
Carlyle Group has launched a bid to buy the Japanese operations of KFC — the fast-food chain that, through a 50-year-old quirk of fate and branding, in effect owns Christmas in Asia’s second-biggest economy (The Financial Times £).
A limited-edition pineapple priced at $395 – a cost many would find exorbitant – is being sold at a southern California produce store as the bustling specialty fruit market expands (The Guardian).
The property developer British Land has sold its 50% stake in the Meadowhall shopping centre in Sheffield to Norway’s sovereign wealth fund in a £360m deal, ending its holding in the site after 25 years (The Guardian).
The landlord, which is one of Britain’s biggest property developers, sold the stake to joint venture partner Norges Bank Investment Management as it shifts its portfolio away from covered shopping centres in favour of investing in retail parks (The Mail).
Norway’s oil fund has paid £360m for British Land’s 50% stake, giving it full control of the 1.5 million sq ft mall, which has more than 300 shops, bars and restaurants and a cinema (The Times £).
No comments yet