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29 сентября, 21:35

Tesco admits error over repackaging of returned Lidl chicken

Retailer removes claim that Willow Farm chicken is ‘reared exclusively for Tesco’ after Guardian investigation finds otherwiseTesco has said it made a mistake when it described chicken sold under its Willow Farm brand as “reared exclusively” for the supermarket chain, after undercover footage of a processing plant showed packs of drumsticks returned by Lidl being repackaged as Willow Farm products.The UK’s biggest retailer has removed the claim that Willow Farm chicken is “reared exclusively for Tesco” from its website after film obtained as part of a Guardian and ITV News investigation into poultry giant 2 Sisters Food Group (2SFG) showed packs of Lidl drumsticks being opened and emptied back on to the production line. The drumsticks then re-emerged at the end of the line, repackaged with Willow Farm labels and destined for Tesco’s shelves. Continue reading...

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29 сентября, 17:51

Former Tesco executives accused of falsely boosting profits

Serious Fraud Office sets out accusations over 2014 accounting scandal

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29 сентября, 15:02

Former Tesco executives pressured others to falsify figures, court told

Christopher Bush, Carl Rogberg and John Scouler all deny charges of false accounting and fraud by abuse of positionThree former Tesco directors were the “generals” who “bullied and coerced” employees to massage profits and mislead the stock market, a court has heard.Carl Rogberg, the former finance director of Tesco UK, John Scouler, the former commercial director for food, and Christopher Bush, the former managing director of Tesco UK, have all been charged with one count of fraud by abuse of position and one count of false accounting. Continue reading...

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29 сентября, 11:12

M&S, Aldi and Lidl suspend buying from chicken plant that fiddles kill dates

Food Standards Agency, Tesco and Sainsbury’s investigate 2 Sisters Food Group plant after Guardian/ITV News storyThe chicken run: blood, sweat and deceit in a UK poultry plantThe secretive ‘chicken king’: inside the empire of Ranjit Singh BoparanMarks & Spencer, Aldi and Lidl have suspended buying chicken from 2 Sisters Food Group’s West Bromwich plant following a Guardian and ITV News investigation that found evidence it had tampered with food safety records.The moves came as the Food Standards Agency said its inspectors had audited the site on Thursday, as it announced its own investigation on the back of the Guardian’s and ITV’s evidence of potential regulatory breaches at the chicken processor. The regulator also urged “anyone with information for this investigation” to make contact. Continue reading...

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28 сентября, 19:33

The chicken run: blood, sweat and deceit at a UK poultry plant

We sent two undercover journalists to work in the supermarket supply chain and found some alarming food safety practices“Have you just got out of prison?” the slaughterhouse foreman asks his new recruit. It is a question seemingly posed in jest, but probably only to mask a genuine suspicion that a spell in clink is the most likely explanation for an odd situation. Continue reading...

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28 сентября, 19:33

Undercover inside the chicken factory - video

A Guardian/ITV News undercover investigation into conditions at a chicken processing factory that supplies Britain's major supermarkets reveals hygiene failures, manipulation of slaughter dates and repackaging of returned meat. The 2 Sisters plant in the West Midlands supplies M&S, Sainsbury's, Tesco, Aldi and Lidl with pre-packaged chicken meat Continue reading...

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28 сентября, 19:32

UK's top supplier of supermarket chicken fiddles food safety dates

Firm supplying Tesco, Sainsbury’s and M&S may have duped customers into buying out-of-date meat, Guardian/ITV News investigation revealsThe chicken run: blood, sweat and deceit in a UK poultry plantThe secretive ‘chicken king’: inside the empire of Ranjit Singh Boparan The largest supplier of chicken to UK supermarkets has been tampering with food safety records in moves that could dupe consumers into buying meat past its use-by date. An investigation by the Guardian and ITV News recorded undercover footage of workers altering the slaughter date of poultry being processed at a 2 Sisters Food Group plant. The group produces a third of all poultry products eaten in the UK and supplies top grocers including Tesco, Sainsbury’s, Marks & Spencer, Aldi and Lidl. Continue reading...

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26 сентября, 19:11

The final straw: how to follow Wetherspoon’s and ditch the plastic

The pub chain’s decision to do away with straws is expected to stop 70m of them ending up in landfill or the sea every year. Here are some other plastics we perhaps could do withoutDrinkers heading to Wetherspoon’s for a tipple will have to do without plastic straws from the end of this year as the cheap (and occasionally cheerful) high-street pub chain does its bit to tackle the problem of global plastic pollution.Following on the heels of companies such as Tesco, which last month announced it would stop selling its 5p single-use plastic bags, Wetherspoon’s senses the tide is turning against unnecessary plastics and claims that the move will stop 70m plastic straws finding their way into landfill or the world’s oceans every year. Continue reading...

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24 сентября, 19:34

Three former Tesco executives due to stand trial

Individuals accused of fraud and false accounting in high-profile SFO case

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23 сентября, 18:54

Relief for British apple growers as Tesco relaxes its 'blemish-free' rules

Growers faced having to dump crop after low temperatures in April resulted in ‘frost ring’ on otherwise perfectly good fruitBritish growers will be spared from being forced to dump hundreds of tons of apples after a supermarket relaxed its rules on “blemish-free” fruit.Growers faced the prospect of having to throw away apples from this autumn’s crop after an unseasonal frost caused unsightly blemishes on otherwise perfectly good fruit. The Bramley cooking apple crop has been particularly badly hit. Continue reading...

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19 сентября, 20:07

Fluffy slippers and fancy Marigolds: how suburban style stole London fashion week

Royal Doulton china, kebab boxes and supermarket carrier bags are this season’s references on the London catwalks. What does this new down-to-earth vibe mean for our real-life wardrobes next spring?A few snapshots from this London fashion week. Christopher Kane backstage after his show talking about the smell of bleach in his house that accompanies having a new French bulldog puppy, and the frills of the Royal Doulton figurines that his mum used to polish obsessively when he was growing up in Glasgow. Cindy Crawford’s model children, Kaia and Presley Gerber, catwalking at Burberry in check caps past a photography exhibit that included Martin Parr’s 1981 shot of Dubliners hunched under flimsy umbrellas as they battle rush-hour rain. (As an image of fashion in the rain, that shot is about as far from the romantic iconography of the raindrop-dappled, collar-popped Burberry trench as it is possible to imagine.) Plasticky bucket hats at Donatella Versace’s Versus show. The deadpan tones of Neil Tennant singing Pet Shop Boys’ West End Girls, a song that emerged as the unexpected theme tune for the season when it opened both the Burberry and Topshop shows. A skirt and a top made from rough linen tea towels at JW Anderson, frilly cushion-handbags at Mother of Pearl, a silver clutch bag moulded from the shape of a polystyrene kebab box at Anya Hindmarch. Designer Richard Malone cheerfully naming the bright colour palette of his dresses as a homage to supermarket carrier bags: Tesco blue, Co-op turquoise.This is street style, but not as fashion usually knows it. This is not the peacocking Insta-bait that has become the default uniform of London fashion week, all thousand-pound tracksuits and limited-edition bumbags. This is street as in ground-level, not street in the sense of being the coolest kids on the block. Actual real life, not a performative version of it. And this is different. Because from its beginnings as a breath-of-fresh-air backlash against the stuffiness of the catwalk, the street-style arm of fashion has over the past few years calcified into a bloodless beauty contest driven by cold, hard cash. One survey released on the eve of fashion week estimated that micro-influencers – those with about 10,000 social media followers – can command a fee of £3,000 a post, with many of these posts clustered around the venues and hashtags of fashion week. Continue reading...

19 сентября, 17:14

Supermarkets enjoy best performance in more than four years

Supermarkets are enjoying their most sustained growth in more than four years after sales increased by more than 3pc for the sixth consecutive month. Fresh figures from Kantar Worldpanel showed that supermarket sales jumped by 3.6pc in the three months to September 10, thanks in part to a 1.5pc increase in the volume of goods sold. “We have not seen sustained market growth of this kind since May 2013,” said Fraser McKevitt, the head of retail and consumer insight at Kantar Worldpanel. Lidl was once again the fastest-growing retailer, with a sales increase of 19.2pc taking its market share to a record 5.3pc. “Collectively Aldi and Lidl now account for nearly £1 in every £8 spent in Britain’s supermarkets - a decade ago this was only £1 in £25. “In the past three months almost 63pc of shoppers visited one of the two retailers, up from a level of 58.5pc last year.” The disappointing weather in August meant that there were sales drops in traditional summer categories such as prepared salad, which was down 6pc, and scotch eggs and sun care, which dropped 16pc. Morrisons has enjoyed particular success with its premium ‘The Best’ line Credit: Chris Ratcliffe/Bloomberg The amount spent on cold treatments, however, nearly doubled to around £4m. Meanwhile, grocery inflation fell 0.1 percentage points from the previous month ahead of an expected further fall towards the end of the year. It now stands at 3.2pc for the three months ended September 10. Among the big supermarkets, Tesco sales continued their continuous growth since April, rising 2.7pc in the past 12 weeks. Morrisons has enjoyed particular success with its premium ‘The Best’ line, which has enjoyed a year-on-year sales jump of 38pc. Mr McKevitt said it was “the fastest growing premium range in a market where top-tier products are outperforming all other lines”. Separate figures from Nielsen showed that consumer spending on own-label products rose by 5.5pc in the 12 weeks to September 9. "The return of inflation means shoppers are increasingly turning to supermarkets' own-label products to help manage their weekly grocery spend," said Mike Watkins, Nielsen's UK head of retailer and business insight. "Own-brand sales are growing across all major food retailers but fastest at the discounters - Aldi and Lidl - and at the Co-operative, Iceland, M&S and Tesco."

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14 сентября, 13:03

New cigarette rules have led to slump in sales, says Londis owner

Cash-and-carry group Booker says tobacco sales fell nearly 10% in second quarter after plain packaging rules came inThe group behind the Londis and Budgens convenience store chains says tobacco sales have plunged since new rules came into force which mean cigarettes must be sold in standardised packaging bearing graphic warnings of the dangers of smoking.Booker, the cash and carry group which has agreed to a £3.7bn takeover by Tesco, said tobacco sales had fallen nearly 10% in its second quarter. The fall in demand for cigarettes weighed on overall sales, which grew by 1.1% in the 12 weeks to 8 September. Stripping out tobacco, sales were up almost 6% over the period. Continue reading...

11 сентября, 11:12

Global relief rally continues on US stock markets; insurers jump on receding Hurricane Irma fears

FTSE 100 rebounds into positive territory following gloomy week of trading last week; AstraZeneca jumps to the top of the blue-chip leaderboard on positive drug trial results Pound holds six-week high against the dollar; trading flat at $1.3192 ahead of Repeal Bill ABF dips despite raising its full-year outlook as its Primark business continues to enjoy strong growth; Randgold Resources and Fresnillo drop as rising risk appetite pulls down gold prices Lloyd's of London insurers rise as payout fears recede; cost from Hurricane Irma expected to be less than initially thought 3:14PM Warning: Brexit could land business with £4bn a year customs bill without transitional deal Trucks going through ports could stack up as customs controls are reintroduced British businesses that export to Europe could collectively face a multi-billion pound Brexit bill if  the UK and the European Union are unable to agree a transitional customs deal, a think-tank has warned. The Institute for Government (IFG) says that should the UK leave the EU without a negotiated agreement on customs, controls at borders "could be introduced overnight”. It calculates that there are 180,000 business - most of them SMEs - trading with Europe who will need to make customs declarations following Brexit, landing them with a combined bill of at least £4bn in the first year alone. Read Alan Tovey's full report here 2:56PM Dow Jones rallies into positive territory; Petra Diamonds plummets on Tanzania dispute The Dow Jones has rallied into positive territory today The global relief rally has extended into the US session with the Dow Jones opening 0.8pc higher as Hurricane Irma and North Korea fears subside. Travelers Companies, an insurance firm, has followed its peers in Europe and jumped over 5pc on the index as concerns over the impact of Hurricane Irma on the sector fade. Meanwhile back in Europe, the FTSE 100 has given up some of its morning gains with the handful of stocks that started the day in the red steadily growing. On the FTSE 250, Tanzania's latest hostilities with foreign mining companies have pulled down Petra Diamonds and Acacia Mining. Petra Diamonds shares have shed nearly 9pc of their value today after the Government seized a package of diamonds it said had been undervalued, leading to the company suspending operations at its mine there. 2:26PM Google appeals against record monopoly abuse fine The company was fined £2.2bn in June Google has launched an appeal against the European Commission's record £2.2bn monopoly abuse fine, it has been confirmed in the last half hour. As reported in The Sunday Telegraph, the company will extend the seven-year dispute between the company and the EU over allegations that it exploited the dominance of its search engine to push its own online shopping service. Q&A | Why is Google being fined? 2:11PM Pink flamingos boost Primark sales and ABF forecasts Shoppers also flocked to Primark stores for pink flamingos Shoppers flocked to Primark stores over the summer to snap up pink flamingo pool inflatables alongside their holiday wardrobe essentials, helping to boost parent group Associated British Food's full-year forecasts. John Bason, ABF finance boss, said that the huge demand for its ornithological-inspired inflatables was one of the suprise big-sellers which helped the high street retailer smash its sales predictions for the summer and avoid heavy discounting.  The trend for over the top swimming accessories has been driven by celebrities such as Taylor Swift and Kourtney Kardashian and fuelled by social media posers. During the summer Primark was selling £9 flamingo inflatables as well as blow-up unicorns and £1 doughtnut-shaped floating cupholders. Shares fell by 3pc this morning following the results. Read Ashley Armstrong's full report here ABF 1:49PM Economics preview: Trio of UK macro releases will dominate sentiment this week The Bank of England's MPC is expected to vote to leave rates unchanged at 0.25pc With no economics data for the markets to pore over today, let's have a quick look at the key trio of macro releases due later this week. Tomorrow inflation is expected to pick-up to 2.8pc, tightening the squeeze on households, while on Wednesday wage growth figures will show whether the gap between pay and rising prices in the UK has continued to widen again. A day later we'll get the latest interest rate decision from the Bank of England on a 'Super Thursday' that might not quite live up to its name. The markets are currently pricing in just a 5.1pc chance of a hike in Thursday's meeting with patchy economics figures and cooling inflation in the last few months diminishing the clamour for a rise. Are the markets underestimating the chance of a hike? ETX analyst Neil Wilson gave this prediction for Thursday's decision: "The MPC is all but certain to leave everything well alone, with interest rates to be held at 0.25% and the size of the asset purchase programme unaltered at £435bn. At present there are simply too many unknowns for the Bank to hike to rates. However policymakers are likely to continue to stress that their tolerance for above- target inflation is not unlimited and that the market is underestimating their willingness to act. "The vote is expected to be 7-2 in favour of leaving rates unchanged, with confirmed hawks Ian McCafferty and Michael Saunders likely to vote for a hike. Andy Haldane is probably the only real unknown but the chief economist is, on balance, just seen voting for the status quo."  1:19PM Facebook hit with €1.2m fine in Spain for breaking privacy laws The company is also under investigation in France, Germany and the Netherlands Facebook has been hit with a €1.2m (£1.1m) fine in Spain after the country's data watchdog found it broke privacy laws. The social network breached laws designed to protect citizens' information and privacy on three occasions, according to the Spanish authorities. The regulator found Facebook had failed to inform users how their data would be used as it hoovered up the details of millions of people in Spain. It said Facebook had failed to educate users on how their personal information - including ideology, sex, religious beliefs, personal interests and browsing habits - would be used for advertising. It added that Facebook had illegally tracked visitors to its pages who had not signed up to the social network using cookies. Read Cara McGoogan's full report here 12:43PM Lunchtime update: Risk appetite rises on the markets as North Korea tensions fade The costs of Hurricane Irma are expected to be less than initially thought North Korea's nuclear no-show over the weekend has lifted the mood on global stock markets this morning with the FTSE 100 rebounding back into positive territory. The pound rising to over $1.32 against the dollar ahead of a big week of UK economics data couldn't dampen spirits in London with insurers enjoying a relief rally as the fears of eye-watering costs from Hurricane Irma recede. ABF has retreated despite its Primark business enjoying strong sales growth while pharma giant AstraZeneca has jumped towards the top of the blue-chip index after positive lung cancer drug trials. Accendo Markets analyst Mike Van Dulken said this on today's play: "Traders have started the new week hungry for risk, pushing equities and base metals higher on reduced concerns about North Korea and Hurricane Irma (although both very much still in play) and supportive China inflation data. As usual, bullishness has proved detrimental to safe havens like Gold, Bonds and the Yen & Swiss Franc. "The German DAX outperforms thank to a EUR/USD pullback from Friday's highs benefiting the index in general while Insurers/financials welcome a, thus far, less destructive Floridian path for Hurricane Irma. The UK FTSE 100 is higher, albeit to a lesser degree, and despite a strong GBP ahead of Thursday’s BoE policy update." 12:24PM Tesco deducted £3.4m from charity plastic bag sales last year for admin costs Tesco sells more plastic bags than any other UK supermarket Tesco has been criticised for deducting millions of pounds from charity donations generated by the plastic bag tax in order to cover "administration costs". New government data shows that Britain's biggest supermarket sold 637m carrier bags in the year to March 2017, raising almost £32m in proceeds. But it withdrew £3.4m of this to cover the “cost of administering donations”, equivalent to more than 10pc of the total. The government figures show that no other major supermarket – including Asda, Sainsbury's, Morrisons and Waitrose – made any such deductions from plastic bag sales, and instead passed on all proceeds to charities. Read Sophie Christie's full report here 12:08PM Pound pushes over $1.32 ahead of hectic week of economics data Brexit Secretary David Davis has said that voting against the Repeal Bill would lead to a "chaotic" Brexit The pound has risen to a six-week high against the dollar, just over $1.32, ahead of a crucial week of economics data for the UK. Key inflation data is due tomorrow and on Wednesday we'll find out if wage growth has eased the pressure on households suffering from rising prices. Stronger economics figures last week have helped to lift the pound from its August lows, according to MUFG currency analyst Lee Hardman. He said: "With growth in manufacturing output expanding solidly by 0.5% in July, there is some encouragement that the sharp improvement in business confidence driven in part by the weaker pound and stronger global growth is beginning to feed through into  hard economic data. "At this stage we still believe it is best to treat the recent improvement in UK economic data flow with caution. Plenty of tests are coming up for the currency, however. In addition to the inflation and wage data, we have Bank of England 'Super Thursday' later this week and the Repeal Bill vote in parliament later today. 11:40AM North Korea 'an unlikely source of bullish sentiment' on stock markets The UN Security Council will vote today on sanctions for North Korea On the markets no North Korea news is good news. The rogue state's unexpectedly quiet weekend has prompted a strong rally on European stock markets this morning with the FTSE 100 now 0.7pc up and the DAX in Germany enjoying a 1.1pc rise. Investors were worried that the country's founding day on Saturday would be marked by another show of military muscle but it passed uneventfully. The lack of any major economics releases means that Kim Jong-Un is the "unlikely source of bullish sentiment" on global stock markets, according to IG market analyst Joshua Mahony. He commented: "Markets have started the week in a positive fashion, with risk assets firmly in the driving seat at the expense of the commonly perceived havens such as gold, treasuries, and the yen. "The FTSE has utilised this morning’s bullish sentiment to build on the strong end to last week, rising to levels seen almost a week ago. It has been notable that the FTSE has held up well despite a surging pound and a significant degree of geopolitical risk associated with North Korea." With the UN Security Council due to meet later today over whether to implement oil sanctions on the rogue state, a renewed flare-up in tensions seems only round the corner, however. Asian equity markets have rebounded overnight as North Korea’s founding day passed without a missile test.— Arjun K Lakhanpal (@Arjun_lakhanpal) September 11, 2017 11:10AM Could Hurricane Irma actually benefit US GDP? Downtown Miami was flooded by Hurricane Irma While Hurricane Irma will undoubtedly have a short-term impact on the economy in Florida, the rebuilding process could actually support growth figures in the future, some analysts have suggested this morning. The hurricane season will pull down third quarter GDP figures but a boost to the US construction industry will lift GDP figures in the final quarter of 2017 and first quarter of next year, according to head of investment at Interactive Investor Rebecca O'Keeffe. She said:  "Rebuilding and reconstruction are likely to be a central theme over coming weeks with the DIY and construction industries likely to be beneficiaries. Demand for new automobiles could be affected substantially by their growing susceptibility to damage from floodwater. "Oil and oil product markets remain volatile as the knock-on effects of both Harvey and Irma may affect demand and supply for some time to come.  Florida is also a key supplier of agricultural produce to the US and wider market, not least orange-juice." 10:47AM Offshore wind to power £17.5bn investment boom as costs halve Offshore wind costs have halved in the last five years The UK’s offshore wind sector could power a £17.5bn investment inthe UK economy over the next four years after faster than expected cost-cutting slashed subsidies for the technology by half. The Government’s latest auction for support contracts, released this morning, shows that offshore wind costs have halved in the last five years to under £58 for every megawatt-hour of electricity produced, even lower than the estimates given by experts in the run-up to the results. The lower costs mean more wind farms will be able to apply for the £294m funding pot, bringing an investment surge of £17.5bn into the UK. The boom is even greater than the £11bn predicted by Renewable UK as recently as last week. “We knew today’s results would be impressive, but these are astounding," said Hugh McNeal, chief executive of Renewable UK. "Record-breaking cost reductions like the ones achieved by offshore wind are unprecedented for large energy infrastructure." Read Jillian Ambrose's full report here 10:39AM Insurers rebound as Hurricane Irma payout fears recede Flooded streets in Havana which was battered by Hurricane Irma Hopes that the damage caused by Hurricane Irma will be less severe than expected has lifted the Lloyd's of London insurers heavily exposed to events in the US this morning. European insurers retreated last week on fears of huge payouts in the aftermath of the two hurricanes that have left a trail of destruction in the Caribbean and southern US. The damages could, however, come in at less than $50bn compared to a previous estimate of around $192bn, according to LCG analyst Ipek Ozkardeskaya. On the FTSE 250, Lancashire Holdings and Beazley have jumped 7.5pc and 5.7pc, respectively, while the Stoxx 600 insurance index, which tracks the performance of all the large insurance companies in Europe, has enjoyed its best day since April, rising 2pc. 10:10AM AstraZeneca jumps to the top of FTSE 100 on positive drug trials AstraZeneca chief executive Pascal Soriot had been rumoured to be leaving for Israeli rival Teva Pharma giant AstraZeneca leads the blue-chip stocks in London this morning after reporting positive results from two phase III lung cancer drug trials. The Flaura Tagrisso and Pacific trials data beat "already high expectations", commented Liberum analyst Roger Franklin. He said: "The Flaura Tagrisso data delivered almost exactly what was expected at progression-free survival but with the kicker of positive early overall survival trends. More importantly, in Pacific, the magnitude of the progression-free survival benefit over placebo was truly impressive " Rebound of #ASTRAZeneca from end-July 5mth lows continues, +2.4%. Drug that saw setback in advanced cancer shows promising stage 3 data ^KO— City Index (@CityIndex) September 11, 2017 AstraZeneca's shares crashed 15pc in July following poor results in its MYSTIC lung cancer drug trial. However, it has slowly clawed back value since and today's 1.9pc rise leaves it just 4.6pc short of its share price just before the MYSTIC trials disappointed. Its chief executive Pascal Soriot was rumoured to be on the verge of jumping ship to rival Teva earlier this summer but the Israeli company finally filled its vacancy this morning with Kaare Schultz  from H. Lundbeck A/S. 9:48AM Carillion confirms departure of finance boss amid string of management changes Carillion is reeling from a chaotic few months Troubled support services firm Carillion has confirmed the departure of its finance director as it announces a string of changes to its management team. It was reported over the weekend that finance boss Zafar Khan was due to step down from the business, which has lost almost £800m from its market capitalisation in recent weeks. In a statement to the stock market, Carillion said Mr Khan had left the company with immediate effect. He has been replaced by Emma Mercer, who has previously served as finance director of Carillion's UK construction business, as well as chief financial officer and senior vice president of Carillion Canada. Carillion shares have fallen 4.3pc this morning. Read Sam Dean's full report here Carillion 9:25AM ABF dips despite lifting its outlook on strong Primark performance Primark's strong performance has lifted owner ABF's guidance for the year Associated British Foods is the biggest laggard on the FTSE 100 this morning, dipping 2.1pc, despite lifting its full-year guidance as sales and margins improve at its key Primark business. ABF said that the discount fashion retailer will enjoy a 13pc rise in sales on a constant currency basis despite the bleak consumer backdrop. The company is "well ahead of last year", according to Hargreaves Lansdown analyst George Salmon. He added on what the results mean for the rest of the struggling high street: "The UK has been singled out as performing particularly strongly, which would normally have positive read-across for the rest of the clothing sector. However, this probably isn’t the case this time. "We feel Primark’s good domestic performance is more a sign the UK consumer is tightening the purse strings and moving down the value chain as inflation outstrips wage growth." 9:12AM North Korea nuclear no-show lifts sentiment on the markets Rising risk appetite has been helped by North Korea's nuclear no-show North Korea's nuclear no-show over the weekend has lifted the mood on European stock markets this morning with all the major indices rebounding after a gloomy week of trading last week. There were fears that the rogue state would conduct its latest round of tests on Saturday, the nation's founding day, with tensions rising on the UN Security Council over whether to ban the country's oil imports.  Gold has been pulled off its 13-week high, bringing down shares in FTSE 100 precious metal miners Fresnillo and Randgold Resources, while safe haven the Japanese yen is the biggest laggard on the currency markets, slipping 0.5pc against the dollar. The mood has also been helped by Hurricane Irma's strength waning, according to Accendo Markets analyst Mike Van Dulken. He said: "This helpful combo has seen a return of risk appetite and corresponding fall in demand for safe havens. Equities and base metals thus called higher at the expense of Gold, Silver, bonds, the Japanese Yen and Swiss Franc." 8:38AM Agenda: Rising risk appetite pulls up European stock markets Primark owner ABF has retreated into the red despite lifting its full-year outlook Welcome to our live markets coverage. Rising risk appetite on the markets has lifted the FTSE 100 back into positive territory this morning with pharma giant AstraZeneca leading the index after jumping just under 3pc on successful lung cancer drug trial results. Four negative sessions last week pulled the UK's blue-chip index lower but the mood on European stock markets has improved over the weekend with the DAX and CAC 40 enjoying strong rebounds. Gold's retreat this morning as risk-on mood returns to the markets has wounded precious metal miners Randgold Resources and Fresnillo while ABF has nudged down despite raising its full-year outlook thanks to strong results in its Primark business. Asia stocks start the week higher in risk-on mood w/ Yen weaker, Treasury ylds rising as Irma weakens & UN to vote on oil embargo of N Korea pic.twitter.com/tZAHHjmUAB— Holger Zschaepitz (@Schuldensuehner) September 11, 2017 The economics calendar has a very light look to it but any wobbles in passing the Repeal Bill in parliament later today could stoke some movement on currency markets. With inflation and wage growth data due in the coming days, you couldn't blame traders for sitting on their hands until they get hold of this week's highlight economics figures. This morning, the pound has held onto its six-week high against the dollar from Friday, trading flat at $1.3190. Interim results: Restore, Luceco, Deltex Medical Group, EKF Diagnostics Holdings, Cloudcall Group, John Laing Infrastructure Fund, XLMedia, Pennant International Group, Crossrider Full-year results: Abcam, K3 Capital Group, 1pm Trading statement: Associated British Foods AGM: Real Estate Credit Investments, CH Bailey, Empyrean Energy

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07 сентября, 12:31

Tesco criticised for deducting £3.4m from plastic bag tax charity donations

Government data reveals Tesco deducted administration costs from plastic bag sales, unlike other major supermarkets, angering senior MPsMillions of pounds in administration costs were deducted from the charitable donations made by Tesco using funds generated from the plastic bag tax, government data has revealed. No other major supermarket made any such deductions, leading senior MPs to urge Tesco to follow their lead.The 5p charge for plastic bags was introduced in England in October 2015 and has led to an 83% reduction in their use, equivalent to 9bn fewer bags. It is also credited with a drop by nearly half in plastic bags found littering beaches. Continue reading...

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22 августа, 21:12

The Guardian view on grocery wars: Lidl Britain | Editorial

Discount stores are upping their game. They have learned that price isn’t everythingBritish supermarkets were once an established social ecosystem: Waitrose and Marks & Spencer catered for the wealthy, Asda for the hard up, and Tesco and Sainsbury’s for everyone in between. Then a foreign species disturbed it. In the early 1990s, German discount stores Lidl and Aldi arrived in Britain, catering mostly for those who couldn’t afford to go anywhere else. Now they respectively make up 5.2% and 7% of the market, and are stuffed with middle-class shoppers, who shun Sainsbury’s Pimm’s for “Jeeves”, Lidl’s own brand version. On Tuesday Lidl overtook Waitrose to become Britain’s seventh largest grocer. It now has plans to open 60 new UK shops a year.The success of these budget shops can be partly explained by a decade of stagnant incomes and government austerity. The depth of the recession, and now rising food price inflation, encouraged people to hunt down the cheap deals (one survey claims Lidl beats other stores on price by some 15%). It is also down to altered social trends. When faith in the banks took a hit in 2008, loyalty to other institutions, including large superstores, did too. Shopping habits became more fragmentary: people carrying their designer handbags would also wear socks from Primark (the effect is known as “Primarni”). If you bought your avocados in Waitrose, you might also buy your milk from Morrisons or Aldi. And as more young people head online for their groceries, supermarkets are competing over a population of ageing shoppers who have the time to look around for the cheapest option. Continue reading...

18 августа, 18:55

Tesco to sell tiny avocados in response to fruit's global shortage

Supermarket will offer egg-sized versions for only a few weeks after buying 10,000 boxes of undersized crop from South AfricaEgg-sized avocados are the latest weapon in the battle to meet growing demand for the creamy green fruit amid a global squeeze on supply.The mini fruits, which weigh about 70g – nearly a third of the size of an average avocado – will be on sale at Tesco for only a few weeks. Continue reading...

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07 августа, 14:14

Tesco to end sales of 5p carrier bags

Supermarket to stop selling ‘single-use’ bags but will offer customers ‘bags for life’ costing 10p The UK’s largest retailer is to stop selling “single use” 5p carrier bags in its UK stores from the end of the month, instead offering shoppers reusable “bags for life” costing 10p.The move by Tesco follows a 10-week trial in Aberdeen, Dundee and Norwich, which led to a 25% cut in bag sales as shoppers either brought their own or switched to the bags for life. Continue reading...

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06 августа, 16:10

Staff at Tesco-owned One Stop demand better redundancy deal

Comparison with generous payoff for employees on Tesco contracts prompts head office staff to seek equal treatmentHead office staff at the Tesco-owned One Stop convenience chain are fighting for a better redundancy package after it emerged employees on Tesco contracts were being offered a more generous payoff.At the start of this summer Tesco embarked on a cost-cutting programme, during which more than 2,300 people will leave the retailer in the coming months. In June its chief executive, Dave Lewis, said 1,200 head office jobs were on the line and that its Cardiff call centre would also close early next year, with a loss of 1,100 jobs. Continue reading...