The FTSE 100 setting another record high yesterday is well covered by the papers today, but HSBC has warned that the good times may not last. The bank warned investors that the general election could destabilise the markets, commenting: “The May election could be significant for equities because it could result in an EU referendum”. It argued a Conservative-led government would heighten the risk of Britain’s exit from the EU, while a Labour-led government could spook the markets because of fears over new business regulations (The Telegraph).
Lidl’s hiring of Michelin-starred chef Kevin Love as its first ever chef-in-residence gets plenty of coverage. Love, who was head chef at Heston Blumenthal’s The Hinds Head in Bray “will join Lidl with the aim of beefing up the quality of the discount retailer’s own-brand food” (The Telegraph). The Times says Love will lead Lidl’s “counter revolution”, also noting he is a former Lidl store manager (The Times £).
The Telegraph has an interview with Seabrooks Crisps CEO Jonathan Bye this morning. Last month The Grocer revealed that Seabrooks is looking for a buyer – amid a range of other strategic options. Bye tells the Telegraph: “We’ve gone from a regional crinkle crisp manufacturer to having our crisps stocked across the UK.” He adds that food suppliers need to be more innovative about their products as consumer shopping habits change, noting: “Middle-class Britain has gone from being ashamed about shopping in places like Lidl to being enthusiastic about it” (The Telegraph).
Evidence that hypermarket group Carrefour is succeeding in attempts to turnaround its European business emerged on Thursday as Europe’s biggest retailer by sales announced a rise in operating profits at its full-year results (The Financial Times £).
The Times ponders how much Carrefour’s turnaround owes to “Mr Draghi’s big QE bazooka” after the European Central Bank announced its quantitative easing programme in January. “With 9,600 shops, Carrefour is well placed to test the economic temperature, and it detects a definite perking-up of spending and confidence”, the paper writes (The Times £).
McDonalds has said it will stop using chicken raised on certain antibiotics amid global health fears that antibiotics are losing their effectiveness at fighting infections (The Telegraph).
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