Slowing order growth in Just Eat’s core business spooked investors yesterday, sparking fears that takeaway delivery rivals may be eating its lunch (The Times £). Just Eat sees a sales surge despite ‘softer consumer spending’ as it cooks up merger with rival Takeaway.com (The Daily Mail).
Just Eat investors should hold out for a bigger bite of Takeaway.com merger, writes The Telegraph. “Before it throws its lot in with Takeaway.com, shareholders should ask themselves again whether they want a sweetener for sticking with it – particularly those who are not also investors in the Dutch company.” (The Telegraph)
Up to 12,000 Asda workers could lose their jobs next week, according to union officials, if they refuse to sign up to a new contract that will hit pay and benefits for thousands of workers (The Guardian). The supermarket chain told Asda worker Cathy Murphy she will be fired unless she signs up to a new contract that will strip her of her long-service benefits, paid tea breaks and Bank Holidays off (BBC).
Cosmetics maker Coty is exploring the sale of its professional hair and nail products business, including Wella and Clairol, as it seeks to cut debt and simplify its structure after a series of setbacks at the company. (The Financial Times £)
‘Stop Deliveroo and the gig economy dragging us back to the Victorian era’, says Ex-Sainsbury’s chief Justin King. He says many of these companies have fuelled poor working contracts, undermined the economy and driven social resentment. (The Daily Mail)
The pound made tentative strides on Monday as financial markets reacted to the fallout from Saturday’s events in parliament that saw MPs demand a further Brexit delay. (Sky News)
US burger giant Wendy’s is heading across the Atlantic for an assault on Britain’s fast food market that could see it open hundreds of outlets. (The Daily Mail)
The boss of Harrods is leading some of Britain’s most successful luxury firms on a four-day charm offensive in the US amid a trade spat between Donald Trump and Europe. (The Telegraph)
UK sales of flavoured and coloured gins grew by 751% last year, but it is getting harder for more traditional brands to distinguish themselves. (The Guardian)
Singapore-based noodle maker Tolaram Group is set to close financing this week for what could be the busiest port in west Africa, a project it said would help transform Africa’s largest economy. (The Financial Times £)
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