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☆ ‘Life-changing’: Delivery driver wins $217,000 at Kenya Open golf tournament
▼ + stars: | 2024-02-26 | by ( Sam Meredith | Www.Linkedin.Com In Samuelmeredith | ) www.cnbc.com time to read: +1 min

Joe Dean of England reacts on the 16th green during day four of the Magical Kenya Open at Muthaiga Golf Club on February 25, 2024 in Nairobi, Kenya. British golfer and part-time delivery driver Joe Dean hailed his performance at the Kenya Open as "life-changing" as he received a check for just under 200,000 euros ($217,000) by finishing in a tie for second place. "I don't think it's sunk in yet," Dean told DP World Tour. Second event, you don't really feel like you belong and feel like you're trying to prove something," Dean said. "Luckily, I managed to get over that quickly and figure out how to get around the golf course."

Persons: Joe Dean, Spain's Nacho Elvira, Darius van Driel, Dean, It's, I've, I'd, you've Organizations: Kenya, Club, Morrisons Locations: Nairobi, Kenya, British, Netherlands, Qatar

☆ Sainsbury’s gain is private equity’s pain
▼ + stars: | 2023-11-02 | by ( ) www.reuters.com time to read: +2 min

LONDON, Nov 2 (Reuters Breakingviews) - Red hot competition in the UK grocery market is favoring the largest players. Sainsbury’s CEO Simon Roberts reckons the 6.5 billion pound group has been taking market share from rivals including discounters Aldi and Lidl. That may not be good news for Sainsbury’s smaller peers like Morrisons and Asda, owned by Clayton, Dubilier & Rice and EG Group respectively. Both Sainsbury’s and Tesco have held their market shares relatively stable since 2021, when CD&R bought Wm Morrison. Sainsbury’s is currently valued at 5 times forward EBITDA, according to LSEG data.

Persons: J Sainsbury’s, Simon Roberts reckons, Wm Morrison, Aimee Donnellan, Aston Martin, Neil Unmack, Streisand Neto Organizations: Reuters, Aldi, Tesco, Clayton, Rice, EG, R, Asda, Morrisons, Pfizer, Thomson Locations: Britain’s, Asda, Dubilier

☆ Amazon UK to spend 170 mln stg on staff pay rises
▼ + stars: | 2023-10-09 | by ( ) www.reuters.com time to read: +1 min

People take part in a rally in support of Amazon workers' on strike, outside the Amazon warehouse, in Coventry, Britain, January 25, 2023. Pay rates will further increase to between 12.30 pounds and 13 pounds an hour from April next year. The increases mean Amazon’s minimum starting pay will have risen by 20% in two years, and 50% since 2018, it said. Amazon UK also said it has started recruiting for more than 15,000 seasonal roles across the UK for the festive period. Last week, supermarket groups Morrisons and Aldi said they were hiring 3,500 and 3,000 extra staff for the Christmas season.

Persons: Henry Nicholls, BoE, James Davey, Kate Holton Organizations: REUTERS, Bank of, Amazon, Aldi, Thomson Locations: Coventry, Britain, Bank of England

☆ These kids get free vacations thanks to their YouTube fame. But what happens behind the scenes?
▼ + stars: | 2023-08-15 | by ( Lilit Marcus | ) edition.cnn.com time to read: +13 min

McCarty started a campaign called Quit Clicking Kids, aimed at stopping people using children on social media for monetary gain, in 2022. Child labor rights in the United States, from the factory to the internet: A timeline 1904 The National Child Labor Committee is founded, with the goal of ending all child labor. 1916 The first child labor bill – the Keating-Owen Act – is passed, which bans the interstate sale of any article produced with child labor and regulates the number of hours a child could work. In May 2023, the US Surgeon General’s office issued an advisory about social media and kids’ mental health. And for too many children, social media use is compromising their sleep and valuable in-person time with family and friends.

Persons: Chris McCarty, McCarty, Myka Stauffer, Stauffer, it’s, –, Keating, Owen, Franklin Delano Roosevelt, Coogan, ”, Instagram, Carlotta Dotto, Lilit Marcus The Coogan, Jackie Coogan, aren’t, “, Vivek Murthy, ” Stacey Steinberg, what’s, Steinberg, Yukari Schrickel, Mom Brooke Morrison, Parker, McKenzie, Morrison, ” Caz Makepeace, Craig, you’re, ’ ” Makepeace, Alex Winter, Machelle Hobson, Hobson, Makepeace, vlogging, Caz, they’re, “ We’ve Organizations: CNN, Morrisons, University of Washington, Child Labor, US, Labor, California, UN, Education, Trust, Facebook, National Archives, US Department of Labor, Actors, The Federal Trade Commission, New York Department of Labor, Washington State Legislature, Center, Children, University of Florida’s Levin College of Law, YouTube, Credit, Apple, Google Locations: New Orleans, Arizona, London, Dominican Republic, United States, New York, Illinois, California, ”, Australia

☆ Wilko: UK discount retail chain collapses putting 12,000 jobs at risk
▼ + stars: | 2023-08-10 | by ( ) edition.cnn.com time to read: +1 min

British discount retailer Wilko said it has fallen into administration on Thursday, a form of creditor protection that puts its 12,000 jobs in danger. The family-owned retailer, facing a cash squeeze after a downturn in trading, had failed to secure emergency investment. It is Britain’s biggest retail casualty since convenience store chain McColl’s collapsed in May last year. Jackson said Wilko’s had “a significant level of interest,” including indicative offers that could recapitalize the business. Despite the squeeze on household incomes from the jump in interest rates and high levels of inflation, most UK high street chains have traded resiliently so far this year.

Persons: Wilko, “, ”, Mark Jackson, PwC, McColl’s, Jackson, Wilko’s, we’ve Organizations: Morrisons Locations: Leicester, England

A branch of the discount retail homeware store Wilko is seen in London, Britain, August 3, 2023. REUTERS/Toby Melville/File PhotoSummaryCompanies Wilko enters administration93-year old retailer trades from 400 storesFailed to secure emergency investmentLONDON, Aug 10 (Reuters) - British discount retailer Wilko said it has fallen into administration on Thursday, a form of creditor protection that puts its 12,000 jobs in danger. The family-owned retailer, facing a cash squeeze after a downturn in trading, had failed to secure emergency investment. Despite the squeeze on household incomes from the jump in interest rates and high levels of inflation, most UK high street chains have traded resiliently so far this year. Reporting by James Davey and Muvija M; Editing by Kate Holton and Elaine HardcastleOur Standards: The Thomson Reuters Trust Principles.

Persons: Toby Melville, Wilko, Mark Jackson, PwC, McColl's, Jackson, Wilko's, we’ve, James Davey, Muvija, Kate Holton, Elaine Hardcastle Organizations: REUTERS, Morrisons, Thomson Locations: London, Britain, Leicester, England

☆ Some San Francisco Safeway stores added gates barring shoppers from leaving unless they scan a receipt. It's an anti-theft measure that has spread across the UK.
▼ + stars: | 2023-07-19 | by ( Alex Bitter | ) www.businessinsider.com time to read: +4 min

Safeway has installed receipt-scanning gates at some supermarkets in the San Francisco Bay Area. The technology has already been rolled out at multiple UK retailers, and shoppers are skeptical. A Reddit post from this spring, meanwhile, showed the gates at another Safeway location in San Francisco. Security gates at self checkouts is more common in the UKAcross the Atlantic in the UK, a handful of retailers already use the receipt-scanning gates at self-checkout areas. Some people have compared the security gates to Costco's receipt-checking system.

Persons: that's, Primark, Betty Yu, Alex Bitter Organizations: Safeway, San Francisco Bay Area, Service, California Safeway, San Francisco Chronicle, University of California, Daily, Morrisons, Costco, Sun, Twitter, Walgreens, CBS, KPIX, Area Locations: San Francisco Bay, Wall, Silicon, Bay, Berkeley, San Francisco ., Edinburgh, San Francisco

☆ UK consumer group calls for government action on grocery prices
▼ + stars: | 2023-07-16 | by ( James Davey | ) www.reuters.com time to read: +3 min

says supermarket prices have risen 25.8% in two yearsSome prices have jumped by as much as 175%, consumer group saysRetailers say they have absorbed cost increasesLONDON, July 17 (Reuters) - British consumer group Which? has urged the government to take action to support households when the competition watchdog publishes its review of grocery pricing, saying some food prices have jumped by as much as 175% since 2021. found that supermarket prices rose by 25.8% between June 2021 and June 2023. Food prices have been driven up by increased costs for animal feed, fertiliser and fuel as well as energy and labour. While the UK government has raised concerns about soaring food prices it has said it was not considering imposing price caps.

Persons: Phil Noble, Jeremy Hunt, Helen Dickinson, James Davey, David Goodman Organizations: REUTERS, Tesco, Asda, Waitrose, Markets Authority, CMA, British Retail Consortium, Thomson Locations: Altrincham, Britain, British, Morrisons, Aldi, Europe, Hungary

☆ Britain's Waitrose joins forces with Uber Eats for rapid delivery
▼ + stars: | 2023-07-10 | by ( ) www.reuters.com time to read: +1 min

LONDON, July 11 (Reuters) - British upmarket supermarket group Waitrose has teamed up with rapid delivery firm Uber Eats (UBER.N) to provide its groceries to shoppers' homes in as little as 20 minutes, the companies said on Tuesday. Waitrose, part of the employee-owned John Lewis Partnership, said the "multi-year" partnership launched on the Uber Eats platform in five London stores and will roll out to over 200 stores by the end of August. It peaked at about 15% during the pandemic but has since come off to 10.4%, according to market researcher NIQ. Waitrose said the deal with Uber Eats builds on its existing partnership with Deliveroo (ROO.L) and its own online shopping business. Uber Eats already partners with UK supermarkets Sainsbury's, (SBRY.L), Asda, Morrisons, the Co-op and Iceland.

Persons: Uber, Online's, James Davey Organizations: Waitrose, John Lewis Partnership, Deliveroo, Asda, Morrisons, Thomson Locations: London, Britain, Iceland

☆ Britain's M&S the latest supermarket to cut prices
▼ + stars: | 2023-06-19 | by ( James Davey | ) www.reuters.com time to read: +2 min

SummarySummary Companies M&S cuts prices of 70 products, holds prices of 150Morrisons cuts prices of 47 productsMoves follow other reductions across sectorBank of England keeping close eye on food inflationLONDON, June 19 (Reuters) - Marks & Spencer (MKS.L) on Monday became the latest supermarket group in Britain to cut food prices, adding to signs that a surge in inflation is set to abate. M&S cut the price of 70 staple products, such as beef mince, Greek style yoghurt, salmon fillets, chickpeas and tortilla wraps, by between 3% and 25%. Also on Monday, Morrisons, Britain's fifth largest supermarket group, said it was cutting the prices of 47 products by an average of over 25%. On Friday, market leader Tesco (TSCO.L), said Britain's food inflation has peaked. EXPLAINER-Why is UK food inflation so stubbornly high?

Persons: Spencer, Rishi Sunak's, Kantar, James Davey, Kylie MacLellan, Susan Fenton Organizations: Bank of England, Morrisons, Tesco, Asda, Waitrose, Thomson Locations: Britain

☆ British supermarket Morrisons cuts prices of nearly 50 products
▼ + stars: | 2023-06-18 | by ( ) www.reuters.com time to read: +1 min

LONDON, June 19 (Reuters) - British supermarket Morrisons said on Monday it was cutting the prices of 47 products by an average of over 25%, in another sign that a surge in inflation might be set to abate. Morrisons, Britain's fifth largest supermarket group, said products subject to the latest price cuts included beef mince, ham, tomatoes, spinach and wholemeal pittas. On Friday, market leader Tesco (TSCO.L), said Britain's food inflation has peaked. 2 Sainsbury's (SBRY.L) reduced the price of toilet paper, and upmarket grocer Waitrose reduced the price of over 200 products. EXPLAINER-Why is UK food inflation so stubbornly high?

Persons: Rishi Sunak's, Kantar, James Davey, Alistair Bell Organizations: British, Morrisons, Bank of England, Tesco, Asda, Waitrose, Thomson

☆ More food shortages could add to Britain's price pressure
▼ + stars: | 2023-03-28 | by ( James Davey | ) www.reuters.com time to read: +5 min

The tight conditions have helped to push British food price inflation to levels not seen for almost 50 years. Industry data from market researcher Kantar on Tuesday showed UK grocery price inflation hit a record 17.5% in the four weeks to March 19, underscoring the problem for policymakers. Many UK food retailers are buying less, knowing their customers cannot afford to spend so much, taking a hit to their profits in the process. Andrew Opie, director of food and sustainability at the British Retail Consortium, which represents the major food retailers, said supermarkets were confident about the resilience of food supply chains, particularly with the approaching UK growing season. The grower who spoke to Reuters, and who asked not to be named, said there was too much focus on food inflation and not enough on the strength of the whole system.

☆ Aldi to lift fresh produce purchase limits in Britain as shortages ease
▼ + stars: | 2023-03-11 | by ( ) www.reuters.com time to read: +1 min

LONDON, March 11 (Reuters) - Discount supermarket Aldi said on Saturday it will lift all customer purchase limits in Britain on salad items such as tomatoes, peppers and cucumbers after weeks of industry shortages. Aldi's move, effective from Monday, follows the relaxation of limits by British rivals Lidl, Asda and Morrisons earlier in the week. "From Monday, Aldi will remove all purchasing restrictions on fresh produce," it said in a statement. Several major supermarkets last month imposed limits on how many salad and fruit items shoppers could buy at one time and the government warned that shortages could last until the end of March. Reporting by Sarah Young and James Davey; Editing by Mike HarrisonOur Standards: The Thomson Reuters Trust Principles.

☆ UK salad shortage weighs on supermarket sales -NIQ
▼ + stars: | 2023-03-07 | by ( ) www.reuters.com time to read: +2 min

Britons have been grappling with a shortage of key salad staples, particularly tomatoes, cucumbers and peppers. Market researcher NIQ, previously known as NielsenIQ, said total value sales in the fresh produce category grew just 1.1% over the four weeks, with a unit or volume decline of 5.4%. It said supermarkets struggled to meet demand for tomatoes, where unit sales fell 17.6% and for peppers, with unit sales down 16.8%. However, value sales for lettuce and cucumbers increased 13.7% and 31.8% respectively despite limited availability. It said sales growth at Tesco was 8.7%, ahead of Sainsbury's (SBRY.L) at 8.1%, Asda at 7.8% and Morrisons at 0.5%.

☆ UK grocery price inflation hits record 17.1%
▼ + stars: | 2023-02-28 | by ( James Davey | ) www.reuters.com time to read: +2 min

SummarySummary Companies Grocery inflation in Feb at highest level ever recordedMilk, eggs, margarine show fastest price risesShoppers face 811 pounds rise in annual grocery billLONDON, Feb 28 (Reuters) - British grocery inflation hit 17.1% in the four weeks to Feb. 19, another record high, dealing the latest blow to consumers struggling with a cost-of-living crisis, industry data showed on Tuesday. "This February marks a full year since monthly grocery inflation climbed above 4%. He said its research found that rising grocery prices are the second most important financial issue for the public behind energy costs. Kantar said UK grocery sales increased 8.1% over the 12 weeks to Feb. 19, masking a drop in volumes when accounting for inflation. UK grocers' market share and sales growth (%)Source: Kantar($1 = 0.8295 pounds)Reporting by James Davey; editing by Grant McCoolOur Standards: The Thomson Reuters Trust Principles.

☆ British supermarkets are rationing fruit and vegetables as shortages bite
▼ + stars: | 2023-02-28 | by ( Jenni Reid | ) www.cnbc.com time to read: +3 min

LONDON — Britain's biggest supermarkets are limiting purchases of certain fruit and vegetables as supply shortages lead to empty shelves. It said the move was due to poor weather conditions overseas and was working with suppliers to "get things back to normal." The U.K. government has not stated Brexit as a factor, blaming weather conditions. EU member Ireland is also experiencing fruit and vegetable shortages. U.K. Food Minister Mark Spencer said Monday he had spoken to retailers about how they are responding to shortages and asked them to build preparedness for future incidents.

☆ UK government calls in supermarket bosses for salad crisis talks
▼ + stars: | 2023-02-27 | by ( ) www.reuters.com time to read: +2 min

[1/2] An employee checks stock levels at the tomatoes section of a partially empty fruit and vegetable aisle at a Sainsbury's supermarket in London, Britain, February 26, 2023. Food and farming minister Mark Spencer will meet the bosses of Britain's major grocers later on Monday. Spencer said the crisis had shown how dependent Britain can be on certain trade routes for some types of food. Last week, Therese Coffey, minister for the environment, food and rural affairs, warned shortages could last up to another month. She has been widely mocked for saying Britons who can't get hold of salad vegetables might want to consider turnips instead.

☆ Britain's salad vegetable crisis its own fault, says former Sainsbury's boss
▼ + stars: | 2023-02-23 | by ( ) www.reuters.com time to read: +2 min

The crisis has been exacerbated by less winter production in greenhouses in Britain and the Netherlands due to high energy costs. "We could have chosen to subsidise the energy this winter as we have done for other industries." Horticulture has been excluded from a government Energy and Trade Intensive Industries scheme (ETII) that provides help with energy costs. King said that most UK supermarkets still had "very good" supply of salad vegetables coming in but overall the country is short. "That's why supermarkets introduce fair purchase policies so that 'real' customers are able to buy the one or two that they really need."

☆ Premarket stocks: It's bulls vs. hawks on Wall Street
▼ + stars: | 2023-02-23 | by ( Nicole Goodkind | ) edition.cnn.com time to read: +9 min

New York CNN —There’s a new tussle brewing in the animal kingdom of Wall Street: Hawks vs. Bulls. The question is, will the Fed be able to break through and convince Wall Street to finally give in to market pessimism? “Setting aside what financial market participants expected us to do, I saw a compelling economic case for a 50 basis-point increase,” she said at an event in Florida. Asda told CNN that it was temporarily limiting purchases of some items to three packs per customer. Morrisons told CNN that it had imposed a cap of two packs per customer on the same products.

☆ UK supermarkets Tesco, Aldi and Asda are rationing fruit and salad vegetables
▼ + stars: | 2023-02-22 | by ( Anna Cooban | ) edition.cnn.com time to read: +6 min

Asda told CNN that it was temporarily limiting purchases of some items to three packs per customer. These include tomatoes, peppers, cucumbers and lettuce. Morrisons told CNN that it had imposed a cap of two packs per customer on tomatoes, peppers, cucumbers and lettuce. Sainsbury’s (JSAIY), the United Kingdom’s second-largest food retailer, told CNN it had no plans to ration the sale of fruit and vegetables. The high-end supermarket chain told CNN that it was “monitoring the situation” but had no plans to introduce rationing.

☆ British supermarkets confront their German discounting demons
▼ + stars: | 2023-02-22 | by ( James Davey | ) www.reuters.com time to read: +5 min

And the discounters' supermarket sweep still has a long way to run, industry executives say, with Aldi UK CEO Giles Hurley pledging Britain's lowest prices "no matter what". "Over the Christmas period alone shoppers switched 58 million pounds ($70 million)(of purchases) to Lidl from Tesco and Sainsbury's," Lidl GB CEO Ryan McDonnell told Reuters. Tesco and Sainsbury's are now matching Aldi prices on hundreds of key items and using customer loyalty schemes, while they have accepted a profit hit to keep prices down. Sector executives, speaking on condition of anonymity, said the further rise of Aldi and Lidl is inexorable. "Nobody's going to take Tesco out but at some point somebody might take Sainsbury's out," the sector veteran said.

LONDON, Feb 13 (Reuters) - This Valentine's Day is set to look different after a year of record food inflation that has sent up prices of everything from flowers to chocolates and dining in restaurants. Last year, British restaurant chain PizzaExpress offered a three-course set menu complete with "a prosecco and raspberry mimosa, heart-shaped dough balls and a main, such as our Padana, with creamy goat’s cheese and sweet caramelised onion". This year, PizzaExpress is advertising a slightly less impressive "love bundle" of a starter and a "classic" pizza for 15 pounds. Reuters GraphicsThe nation's supermarkets are seeking to cash in, keepingprices for their Valentine's Day meal-deals stable in the hope of luring customers from restaurants. Tesco (TSCO.L), whose CEO recently noted that consumers are shifting away from eating out, has reduced the price of its Valentine's Day dinner-for-two to 12 pounds - down from 15 pounds last year - for a main, side dish, dessert and drink.

☆ Seven out of ten UK households fear cost-of-living hit -NielsenIQ
▼ + stars: | 2023-02-07 | by ( ) www.reuters.com time to read: +2 min

[1/2] Scales to weigh loose fresh produce are seen in the UK supermarket Asda in Leeds, Britain, October 19, 2020. NielsenIQ said UK grocery sales on a value basis rose 7.6% in the four weeks to Jan. 28, due to an increase in food price inflation to 13.8%. However, volume sales fell 6.9% - the lowest volume growth recorded in over nine months, which reflects the concern shoppers have about cost-of-living increases, it said. It said Lidl overtook Morrisons to become the UK's fifth largest grocer with a market share of 8.9%. NielsenIQ said online's share of all FMCG (fast-moving consumer goods) sales was 11.1% - similar to its share in the latter part of 2022.

A trading book includes loans banks have earmarked for sale and are thus marked-to-market, while a banking book is where a lender holds loans and other assets not intended for disposal. This implies a heavy discount of 15 pence on the pound if banks sell the loans at that level. Banks make money also by charging the borrower a fee to provide loans, then sell the loans to third party investors. Reuters could not ascertain the exact size of the hit on the loans sold. On the flipside, loans sold by banks can generate attractive gains for buyers.

☆ UK grocery price inflation rises to record 16.7% -Kantar
▼ + stars: | 2023-01-31 | by ( James Davey | ) www.reuters.com time to read: +2 min

LONDON, Jan 31 (Reuters) - British grocery inflation hit a record 16.7% in the four weeks to Jan. 22, dealing another blow to consumers battling an escalating cost-of-living crisis, industry data showed on Tuesday. Market researcher Kantar said grocery inflation was at its highest since it started tracking the figure in 2008, with prices rising fastest in markets such as milk, eggs and dog food. Kantar said sales of supermarkets' own-label lines grew 9.3% in January, while sales of branded products, which are generally more expensive, were up by just 1.0%. It said that over the 12 weeks to Jan. 22, UK grocery sales rose 7.6% year-on-year, masking a drop in volumes when accounting for inflation. UK grocers' market share and sales growth (%)Source: Kantar($1 = 0.8093 pounds)Reporting by James Davey Editing by Mark PotterOur Standards: The Thomson Reuters Trust Principles.

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