An eleventh-hour Brexit trade deal could still throw Britain’s biggest grocers into chaos by leaving them with just a few weeks to understand the rules, MPs have warned. Treasury committee members accused the Government of leaving it dangerously late to develop the IT infrastructure needed for new rules or which individual ports they should use for goods coming in from Europe. (The Telegraph)
A no-deal Brexit could see import costs for some everyday items rise by almost a third, making them “much more expensive”, a business group has said. The cost of moving goods could also rise due to tariffs, and inflation could be driven up, Logistics UK added. (The BBC)
Europe’s main bottler of Coca-Cola products is poised to acquire Australia’s Coca-Cola Amatil in a deal valuing the company at $7.6bn in the latest round of consolidation in the sector. (The Financial Times £)
Supermarket giant Asda is set for a significant overhaul that will mimic department stores by hiring out large parts of its shops to other businesses. The bold plan under its new owners means the stores will remain owned by Asda but it will seek to rent out increasingly large areas to specialist retailers such as toy and fashion firms. (The Daily Mail)
The finance director of EG Group recently considered quitting the Issa brothers’ rapidly expanding petrol station empire, which is battling to shake off concerns over corporate governance as the Issas prepare to acquire Asda. (The Times £)
The Times has a feature on Zuber and Mohsin Issa — two boys from Blackburn have built a global empire from scratch, but their leveraged buyout of Asda could stretch them to the limit. “Deloitte’s resignation, spurred in part by what it saw as a botched integration of two of EG’s recent American acquisitions, has raised questions. Is EG outgrowing the Issa brothers? And, with Asda, are they biting off more they can chew?” (The Times £)
A row has broken out between Hotel Chocolat, the upmarket chocolatier, and Great Portland Estates, the London property company, souring hopes of a ceasefire between retailers and landlords. (The Times £)
Retailers taking new leases are insisting on “pandemic clauses” that stipulate rent payments will be reduced should the shop be forced to close in a local lockdown. (The Times £)
Caffe Nero is considering an insolvency mechanism to restructure its financial liabilities as the coronavirus crisis continues to inflict pain on high street hospitality businesses. (Sky News)
Supermarkets will have discretion over the Welsh government’s ban on selling non-essential items during the firebreak lockdown, the first minister has said (The Guardian). Welsh shoppers have been shocked and dismayed as bedding and clothes are deemed not to be needed in spite of the cold weather (The Telegraph).
Retail spending increased last month as the prospect of tighter coronavirus restrictions during the winter persuaded consumers to renovate their homes (The Times £). Shoppers continued to splash out last month, pushing up sales of food and DIY goods and powering the UK’s economic recovery (The Telegraph, The Guardian). Official figures show the biggest quarterly leap on record for retail sales, as the sector battles back from the coronavirus lockdown amid renewed restrictions (Sky News).
The European Parliament has voted down plans to ban vegan foods from using labels like “burger” and “sausage”, in a victory for plant-based food campaigners. (The Financial Times £, Sky News)
On Friday a sizeable number of MEPs voted to ban the words “burger” and “sausage” being used for vegetarian products. Their plan was defeated, but it was a serious idea, which shows that, while scientists and even supermarkets say we should eat less meat, politicians are yet to catch up. (The Financial Times £)
The owner of the Dunkin’ coffee and doughnuts chain and Baskin-Robbins ice cream franchises is nearing a deal to be acquired for about $9bn by the private equity-backed fast food group behind Buffalo Wings and Sonic. (The Financial Times £)
Johnnie Walker has come a long way. Two centuries ago bottles of the blended whisky were confined to the shelves of John Walker’s modest grocery store in the little town of Kilmarnock in west Scotland. Today it is the planet’s best selling scotch and is sold in bottles by the billions. (The Guardian)
The FT advises investors to buy Reckitt Benckiser shares, noting that there’s no sign of dimming enthusiasm for hygiene products, which made up 42% of the company’s net revenues over its third quarter. (The Financial Times £)
The entire food chain feels restaurants’ pain – how coronavirus uncertainty is passed down to the firms supplying food outlets placed under government restrictions. (The Times £)
James Lloyd-Jones, the founder of Jones Food Company, which cultivates fresh herbs and salad leaves using a cutting-edge indoor growing system, has built Europe’s biggest “vertical farm” in Scunthorpe, Lincolnshire. But he fears that a lack of investment will leave him trailing. (The Times £)
Beauty brands face backlash on race - activists press companies to match social media commitments to anti-racism with action on products and hiring policies. (The Financial Times £)
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