Asda’s Allan Leighton is risking anarchy with plans to scrap bonuses for 10,000 workers, reports the Telegraph. Details of the plans are also covered by The Times.
There’s more bad news for Asda in a report from Which about the strangest online delivery substitutions. Asda customers experienced the most issues with substitutions, Sky News reported, but it was by no means the only supermarket supplying strange replacements, with sanitary towels instead of sandwich wraps, fish steaks instead of cupcakes, and dog treats instead of steak The Guardian reported.
The dramatic ousting of Unilever boss Hein Schumacher and his replacement with Fernando Fernandez last week received lots of coverage in the weekend papers. Food to go’? asks The Financial Times in a piece exploring whether Fernandez plans to sell the food business.
Sunday Times City editor Oliver Shah asks ‘Who’s Really Calling the Shots?’, in a piece about the power struggle between chairman Ian Meakins and activist investor Nelson Peltz.
The Times reports that Coca-Cola Europacific Partners is set to join the FTSE-100, with its £31.5bn making it the 25th biggest company on the list, following rule changes.
Delivery groups are rushing to open parcel lockers as demand soars, reports the Financial Times.
There’s also an interview with Jennie Allen, the CEO of upmarket grocer Bayley & Sage, in the FT, in which she discloses she’s never needed a bank loan. https://www.ft.com/content/744ca3e7-da81-4b8e-89dc-767b7f1d6885
On the international news front a report in The Times notes that US president Donald Trump has so far failed to dent food price inflation.
The FT reports that Japan’s 7-11 owner Seven & i is set to appoint its first foreign CEO.
The Telegraph says shareholders should not be put off by Costco’s expensive shares.
A US egg giant is cashing in as profits soar amid the bird flu notes the FT.
And finally, the BBC, Reuters and the FT report on the flotation of Mixue, a Chinese bubble tea chain that’s bigger than Starbucks. Shares jumped 43% following the debut on the Hong Kong index.
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