The Food and Drink Federation has asked the government to waive aspects of competition law to enable businesses to co-ordinate and direct supplies with each other in the case of a no-deal Brexit scenario (BBC). It said it had repeatedly asked ministers for clarity on a no-deal scenario but it was still waiting to hear.
BBC Newsnight has learned just 741 companies have applied for government funding to help UK firms cope with a possible no-deal Brexit customs system.
Diageo boss Ivan Menezes has “snaffled” a near-30% uplift to take his pay to £11.7m, A couple of years ago “the poor thing was struggling to get by on a paltry £3.4m” (The Telegraph).
New Delhi authorities have rejected Anheuser-Busch InBev’s plea for it to temporarily lift a three-year ban while it listens to the global brewer’s appeal, a senior government source told Reuters. The brewer has been prohibited from selling its wares in the New Delhi market for allegedly evading local taxes. The company has denied the allegations.
A recent advertising campaign starring Oprah Winfrey helped Weight Watchers International register more subscribers than expected at the end of the June quarter. Revenues in the second quarter fell 9.9% year-on-year to $369m. Net income fell to $53.8m from $70.7m. The company’s shares surged more than 15% in after-hours trading on Tuesday (Financial Times £).
Domino’s Pizza is struggling with a push into Europe beyond the UK and Ireland. It is trying to resolve a row with franchisees who have refused to open more units until they receive a greater share of profits. Interim pre-tax profit fell 26.9% to £30.5m on revenue up 3.5% to £295.6m (Financial Times £).
David Wild, chief executive, plans to retire. Chairman Stephen Hemsley will also retire after he secures Wild’s replacement. Five priorities for the new chief executive’s inbox are bullet-pointed in The Times (£) including determining the future of international business, which could include a sale or turnaround. The Telegraph says Wild “defiantly” stuck to lofty growth ambitions. The group has spent £7m stockpiling ingredients in case of a no-deal Brexit (The Guardian).
John Lewis and Mac Cosmetics have cancelled a “back to school” makeup master class in Bluewater, Kent, after a backlash from parents. Several charities said the event was inappropriate (The Guardian).
FamilyMart, a convenience store in Japan, has apologised after a video of rats running around one of its branches circulated on social media. Family Mart said it had closed a store in the Shibuya district on 5 August and said it would disinfect the site and remove any tainted products. The BBC said it could not independently verify the authenticity of the video.
Walmart faces a blacklash over gun sales following two recent shootings at a Texas store and the death of two staff at a Mississippi branch. Guns Down America says Walmart has an obligation to take a lead (BBC).
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