Выбор редакции
14 мая, 08:01

Morrisons offers boost to 'honesty' fridge network

Supermarket’s £45,000 funding will double number of fridges distributing food to communitiesA fledgling UK network of community or “honesty” fridges, which offer free food to those with limited means, is set to double in size in six months, thanks to funding from a major supermarket.The Community Fridge Network, run by environmental charity Hubbub, is to receive £45,000 from Morrisons, it will be announced this week, allowing it to increase the total of 31 fridges to 58 by November. Continue reading...

Выбор редакции
07 мая, 18:46

Sainsbury's-Asda deal risks environmental harm, say campaigners

Regulators told shortcuts may be taken as pressure grows on producers from price cutsThe proposed merger of Sainsbury’s and Asda puts too much power in the hands of large retailers and will have a damaging impact on the environment, regulators have been warned.Food campaigners, environmentalists and farmers’ leaders are claiming the proposed deal, and the accompanying promise to further drive down prices, will put more pressure on producers, many of which may be forced to cut corners on environmental safeguards and shelve green initiatives. Continue reading...

Выбор редакции
06 мая, 18:08

Rotten results: Sainsbury's drops project to halve food waste

Residents in Derbyshire pilot town cut waste by only 9% despite free gadgets and toolsSainsbury’s has abandoned a £10m project to halve food waste in a designated town across Britain after a year-long trial produced miserable results.The supermarket group gave families in one town, Swadlincote in south Derbyshire, free gadgets to cut food waste – such as devices to measure the correct amount of spaghetti to cook, “smart” fridges to control content and temperatures more accurately, food planners and magnetic shopping lists – and monitored the results. Continue reading...

Выбор редакции
06 мая, 16:31

Sainsbury's-Asda merger could lead to 'monopoly' towns in UK

MPs call on regulator to protect communities in Torquay, Brighton, Paignton, Lancaster and KirkcaldyTorquay, Paignton, Lancaster, Brighton and Kirkcaldy could become Sainsbury’s “monopoly” towns if its planned merger with Asda goes ahead, prompting MPs to demand action to protect local communities.The proposed merger of the two supermarket chains will leave little or no major supermarket competition in the towns, opening the possibility of a local monopoly and a headache for competition authorities, which could order a sell-off but find no buyers. Continue reading...

Выбор редакции
03 мая, 15:51

Asda-Sainsbury's merger: MPs fear squeeze on suppliers

Politicians call for watchdog to gauge affects of deal, saying it should not hurt suppliersMPs from two parliamentary committees have called on the competition regulator to examine how the merger of Sainsbury’s and Asda will affect suppliers.The merger of the UK’s second- and third-largest supermarket chains could hand them control of about 30% of the grocery sales, a similar level to Tesco, meaning two businesses would account for 60% of the market in future. Continue reading...

Выбор редакции
02 мая, 10:25

MPs slam TSB boss's complacency over IT fiasco - business live

TSB chief executive Paul Pester criticised by Treasury committee over the collapse of its banking servicesPester accused of ‘staggering’ attitude to IT fiascoTSB cannot say when crisis will be overPester to give up integration bonusTSB has had 40,000 complaintsSession highlights start hereEarlier:TSB hires law firm Slaughter and May to investigate IT chaosInsiders blame rushed testing and poor management 4.41pm BST Nicky Morgan wraps up the session by telling TSB that the committee expects customers to be properly compensated -- including finding a replacement car for Simon Clarke’s constituent.She also declares that the committee expects to see the full Slaughter and May report into what went wrong.At the end of the day, this is a bank for whom many customers feel you are not saying “yes”...but making it as difficult as possible to get hold of the money to pay bills and putting them in an impossible financial situation. 4.31pm BST Q: With hindsight, would you do the migration again?CEO Paul Pester says he would not!If I had a time machine, I would take myself back to one minute before one o’clock in the afternoon and change the decision.If there was one decision in my life I could change, it’s the decision to go ahead with the migration on 1pm on Sunday afternoonOf course I would change it. Continue reading...

Выбор редакции
01 мая, 21:23

CMA must step up to plate served by Asda-Sainsbury's merger | Nils Pratley

Merged behemoth will have 60% market share – cheering for shareholders, less so for shoppersHow are the share prices of Tesco and little ol’ Morrisons doing as a bigger and fiercer supermarket creation – the two-headed Sainsbury’s/Asda beast – comes into view? Are they collapsing as investors prepare for keener price competition? Are executives also trembling in fear of their bonuses as Sainsbury’s boss Mike Coupe vows to unleash 10% price cuts?Hardly. While Sainsbury’s market value has improved by 16% since Monday morning, investors in Tesco and Morrisons have not recoiled in horror. Share prices in both firms have barely budged. Continue reading...

Выбор редакции
01 мая, 17:54

Sainsbury’s CEO is singing – but ordinary people will pay the price | Stefan Stern

The supermarket’s merger with Asda is just one of a flurry of deals that will have costs for staff, suppliers and taxpayersYou only sing when you’re winning. That is one explanation for the unguarded moment when Sainsbury’s chief executive, Mike Coupe, started trotting out the words to We’re In the Money while waiting for his next interview on the proposed £12bn Asda deal to begin. “To attach any wider meaning to this innocent, personal moment is preposterous,” a spokesman for Sainsbury’s said. Who could resist a challenge like that?Coupe was bound to be feeling perky. The stock market had responded enthusiastically to his news, with Sainsbury’s share price rising 15%. But mega-mergers like these are not usually such good news for a lot of staff. The Competition and Markets Authority, if it allows the deal to go ahead, is likely to insist that many stores are sold to other businesses – who may feel no obligation to keep them open. Continue reading...

Выбор редакции
01 мая, 11:59

Sainsbury’s growth lags behind major rivals as it lines up Asda merger

Tesco and Morrisons turn in strong performances, putting pressure on London-based chainSainsbury’s planned £7.3bn takeover of Asda comes as the London-based supermarket continues to be outgunned by its three major rivals, according to the latest sales figures.Sainsbury’s sales rose by just 0.2% in the 12 weeks to 22 April, its slowest pace of growth for more than a year. Continue reading...

Выбор редакции
30 апреля, 21:35

Sainsbury's chief sings 'We're in the Money' after Asda merger

Mike Coupe filmed singing song from 42nd Street while waiting for interview with ITV about dealThe chief executive of Sainsbury’s has been filmed singing “We’re in the Money” on the same day he announced a blockbuster merger with Asda.Waiting to be interviewed by ITV, Mike Coupe started warbling one of the best-known songs from the musical 42nd Street. In the clip released by the broadcaster, he is shown singing: “We’re in the money, the sky is sunny. Let’s lend it, spend it, send it rolling along.” Continue reading...

Выбор редакции
30 апреля, 21:30

Sainsbury's and Asda should not sing too soon

The merger needs regulatory approval and the gamble will rebound if the CMA plays roughSainsbury’s shares rose 15% on the idea of combining with Asda. One can see why. The chief executive, Mike Coupe – who was yesterday captured on camera by ITV singing “We’re in the money” – is promising a £500m-a-year boost to profits. Tesco would be knocked off its top perch. And Walmart, after a bruising few years in the UK, is selling Asda on loser’s terms – the Americans have even agreed to tow away Asda’s pension fund. Fine – but don’t sing too soon. This deal needs regulatory approval and then has to be made to work. There are reasons to be sceptical.First, Coupe’s view of how the Competition and Markets Authority will view his “historic” reshaping of the UK grocery market sounded optimistic. He said the CMA applies “a higher level of sophistication” these days than the “blunt fascia test” that prevailed in 2003 when Tesco, Asda and Sainsbury’s were barred from buying Safeway. Does it really? Continue reading...

Выбор редакции
30 апреля, 19:06

Experts have their say on the Sainsbury's and Asda merger

From fears about job losses to a view of two businesses trying to ‘future-proof themselves’Rebecca Long-Bailey, Labour’s shadow business secretary:A Tesco/Sainsbury’s-Asda duopoly [would have] unrivalled power to dominate, dictating choice and prices for consumers … [It also] poses immense risk to suppliers, with unprecedented bargaining power to drive suppliers’ prices and payment terms down.” Continue reading...

Выбор редакции
30 апреля, 09:49

Sainsbury's vows to slash prices after Asda merger

Retailers say they plan no store closures as they unveil deal to create UK’s biggest supermarket chainSainsbury’s has spelled out the terms of its planned merger with rival Asda and promised that shoppers would get a 10% cut in the price of popular foods as a result.It said it would pay Walmart, the US owner of Leeds-based Asda, nearly £3bn in cash and give it a 42% stake in the combined business to complete the deal. Continue reading...

Выбор редакции
30 апреля, 09:43

Sainsbury's and Asda promise price cuts after agreeing deal to create UK's biggest supermarket chain - business live

Sainsbury says customers, staff, suppliers and investors will benefit after hammering out a merger to buy Asda for over £7bnIntroduction: Deal agreed between Sainsbury and AsdaCompanies promise price cuts, and no store closuresWill regulators accept it? 7.43am BST This deal will deliver cost savings of around £500m per year, Sainsbury’s estimates.That will fuel concerns that jobs will be lost, and suppliers will be squeezed hard. 7.39am BST Sainsbury and Asda are promising to cut prices on popular products by up to 10%, if their merger goes through.They claim the deal will:...enable investment in areas that will benefit customers the most: price, quality, range and creating more flexible ways to shop in stores and through digital channels, across Sainsbury’s, Asda and Argos.We expect to lower prices by around 10% on many of the products customers buy regularly. Continue reading...

Выбор редакции
29 апреля, 21:12

Sainsbury's and Asda to reveal details of shock £15bn merger

Deal that would create a new grocery superpower has triggered fears of thousands of job lossesSainsbury’s and Asda will confirm on Monday the details of a £15bn merger creating a new grocery superpower that would ring up nearly £1 in every £3 spent on groceries on the UK high street.The shock deal was revealed on Saturday and immediately triggered fears of thousands of job losses. The pair have a combined workforce of 360,000 people and the merged company would leapfrog Tesco to become the UK’s biggest private sector employer. Continue reading...

Выбор редакции
29 апреля, 17:59

Sainsbury's and Asda play seismic supermarket sweep | Zoe Wood

Retail experts predict ‘Herculean task’ will prompt colossal change if blockbuster deal goes aheadRetro 90s fashion is a huge trend on the high street at the moment but that nostalgia has now spilled over into food retail as the supermarket giant Sainsbury’s attempts a blockbuster deal that will result in it seizing back the UK grocery crown it surrendered to Tesco in 1995.The UK’s second-largest retailer has confirmed plans to merge with its nearest rival Asda in a £15bn deal that will create a mega-grocer with sales of more than £50bn and 2,800 stores. The details of the merger will be spelled out in a Stock Exchange announcement on Monday morning but analysts have already spent the weekend crunching the numbers after the news leaked out on a grey Saturday afternoon. Continue reading...

Выбор редакции
28 апреля, 18:23

Competition regulator likely to choke on Sainsbury's-Asda deal

CMA unlikely to swallow any of the arguments the two retailers make for mergerPrepare for the biggest competition inquiry in years. A merger of Sainsbury’s and Asda would create an operator with a bigger market share than Tesco, which only a few years ago was defending itself against “Tescopoly” complaints. A Sainsbury’s-Asda combination plus Tesco would have almost 59% of the market between them. At no point since the invention of supermarkets would there ever have been a hope of getting a regulatory thumbs-up.Back in 1997, a smaller proposed merger between Asda and the former Safeway was blocked on competition grounds. Safeway was eventually bought by Morrisons in 2003 after being forced to shed 53 stores. The official view seemed clear. Only Morrisons, as the smallest of the five national chains, would be allowed to do the deal. Having a minimum of four big operators was regarded as vital to ensure keen competition and low prices for consumers. Continue reading...

Выбор редакции
28 апреля, 15:40

Sainsbury's and Asda in shock talks over £10bn merger deal

New supermarket group would have 31.4% market share, compared with Tesco’s 27.6%Sainsbury’s and Asda are in talks over a £10bn merger that would send shockwaves through the high street by creating a retailer more powerful than the current market leader, Tesco.A tie-up between the UK’s second- and third-largest supermarket chains would create a new group with huge share of the market in food, clothing, household goods and toy retailing. Continue reading...

Выбор редакции
20 апреля, 13:51

Sainsbury's accused of breaking pledge on chicken welfare

Supermarket clashes with Compassion in World Farming over award given in 2010Sainsbury’s has been accused of breaking promises on improving welfare conditions for chickens after it handed back a good practice award.The animal rights pressure group Compassion in World Farming said Sainsbury’s applied for the group’s “good chicken” award in 2010 and committed to upgrade within five years all its fresh own-label chicken to the RSPCA welfare mark, which involved giving birds more living space and light. Continue reading...

Выбор редакции
13 апреля, 11:47

Sainsbury's recalls beetroot over fears it may contain glass

Own-brand product removed from shelves after shards of glass were identified in one batchSainsbury’s has recalled a sliced beetroot product over fears it could contain small shards of glass.Customers who have bought the 340g jar of the supermarket’s own-brand beetroot, with the item code 7860491, were advised not to eat it. Continue reading...