Sunday newspaper round-up: Tesco, Green Agenda, EasyJet
16th Jul 2023 11:44
(Sharecast News) - Tesco is leaning on its suppliers so that they pass on savings from falling costs so that it can reduce prices more quickly than rivals and thus lead on price cuts. Among other factors, on Thursday Tesco pointed to a halviing in wholesale electricity prices, a 22% reduction in PET packaging and an 84% fall in the cost of freight. Suppliers however said that other costs had continued to rise - not least wages. And in response to prodding by MPs, Asda co-owner, Mohsin Issa, has cautioned that fixed-term contracts meants that three to nine more month would be needed before customers benefitted from falling prices. - The Sunday Times
Read moreTesco brings in Gerry Murphy as its new chair
3rd Jul 2023 07:21
(Sharecast News) - Retail giant Tesco announced on Monday that Dr Gerry Murphy would join its board and assume the role of chair from 1 September.
Read moreSunday newspaper round-up: Google, M&S, Tesco
2nd Jul 2023 15:18
(Sharecast News) - Google's new quantum computer is capable of instantly making calculations that would take current supercomputers 47 years to complete. Such compouters, proponents argue, will be capable of battling climate change and creating breakthrough drugs. Their ability to break encryption systems now utilised on the other hand makes them a threat to national security. - The Sunday Telegraph
Read moreGrocery price inflation eases to slowest monthly rate this year - Kantar
20th Jun 2023 10:10
(Sharecast News) - Grocery price inflation has eased to its lowest monthly level this year, according to industry data released on Tuesday.
Read moreTesco holds guidance as Q1 sales rise 8.8%
16th Jun 2023 07:03
(Sharecast News) - First-quarter sales Tesco surged 8.8% as the supermarket giant held annual guidance and said there were "encouraging" signs that inflation was starting to ease for struggling customers.
Read moreWhich formally complains about 'misleading' Tesco promotional pricing
9th Jun 2023 07:11
(Sharecast News) - Consumer campaign group Which raised concerns over Tesco's pricing practices on Friday, suggesting that the lack of clear pricing on the majority of its food and drink promotions could be violating the law.
Read moreUK grocery inflation nudges lower to 17.2%
23rd May 2023 09:14
(Sharecast News) - Food inflation continued to edge lower, industry data showed on Tuesday, although it remains close to record highs.
Read moreBarratt asks John Allan to step down early as chair
23rd May 2023 08:01
(Sharecast News) - House builder Barratt Developments said it had asked chairman John Allan to step down from his role as chairman earlier than planned, to stop allegations of impropriety towards women becoming a distraction to the company.
Read moreTesco chair John Allan to step down
19th May 2023 14:11
(Sharecast News) - Tesco announced on Friday that chair John Allan will step down at the company's annual general meeting on 16 June, as the supermarket chain said recent allegations of misconduct "risk becoming a distraction".
Read moreSunday newspaper round-up: Tesco, National Grid, Morrisons
14th May 2023 20:17
(Sharecast News) - Tesco's pension fund lost £9bn in value and fell into a deficit after multiple safe investments went sour. In particular, the fund is heavily exposed to so-called Liability Driven Investments. Those LDIs came unstuck in 2022 following a sharp rise in interest rates that left pension funds nursing heavy losses. Yet the grocer had no plans to pay more into the pension plan with a spokesman saying that the scheme was "in a strong position", "well-funded" and employing a different measure for estimating contributions then it was in fact "in surplus". - The Financial Mail on Sunday
Read moreTesco chair accused of inappropriate behaviour - report
9th May 2023 12:35
(Sharecast News) - The chair of Tesco has been accused of inappropriate behaviour, it was reported on Tuesday.
Read moreUK grocery inflation eases but remains at record level
25th Apr 2023 10:19
(Sharecast News) - Grocery inflation eased marginally in April, industry data showed on Tuesday, but remained close to record highs.
Read moreTesco sees flat profit for current year, unveils £750m buyback
13th Apr 2023 07:04
(Sharecast News) - UK supermarket chain Tesco said it expected to post flat profits this year and announced a £750m share buyback as annual earnings halved last year with inflation battering both customers and company.
Read moreSunday newspaper round-up: Glencore, Tesco, Vodafone
9th Apr 2023 13:14
(Sharecast News) - Glencore is being prodded by an influential investor, Bluebell Capital Partners, not to delay letting go of its environmentally damaging coal mining business. The FTSE 100 listed outfit's plan had been to acquire Teck Resources, merge its coal unit with it and to then spinoff and list the combined company on the New York Stock Exchange. After Teck rebuffed its offer, those plans are at risk, but Bluebell is urging Glencore to let go of that business, saying that the remainder of the company would then fetch a higher valuation. - Financial Mail on Sunday
Read moreFood inflation soars to record 17.5% - Kantar
28th Mar 2023 09:27
(Sharecast News) - Grocery inflation has rocketed to 17.5%, industry research showed on Tuesday, adding more than £800 a year to average household food bills.
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