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☆ 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.

☆ 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.

☆ CPGs like Coca-Cola, P&G, and Clorox break down their marketing investments as consumers reckon with price hikes
▼ + stars: | 2023-02-21 | by ( Ryan Joe | ) www.businessinsider.com time to read: +4 min

Many CPGs like Coca-Cola, P&G, and Clorox don't intend to increase their current level of marketing. As the economic squeeze continues, CPG brands like Procter & Gamble, Coca-Cola, and Clorox are being ultra-cautious about their marketing spend. Major CPGs spent hundreds of millions, and at times billions, on ads in 2022. Clorox spent $280 million, Coca-Cola spent $646 million, and Unilever spent $746 million according to data from Vivvix, an ad intel platform owned by Kantar, and social data from Pathmatics. Clorox, Coca-Cola, and Unilever didn't respond to a request for comment.

☆ Former Qatari prime minister's son bids for Manchester United
▼ + stars: | 2023-02-18 | by ( ) www.cnbc.com time to read: +1 min

A statue of George Best, Denis Law and Bobby Charlton standing outside Old Trafford, home of Manchester United in Manchester, England. Sheikh Jassim Bin Hamad Al Thani, a son of Qatar's former prime minister, on Friday launched a bid to buy Premier League soccer club Manchester United, whose American owners launched a formal sale process late last year. Sheikh Jassim is the son of Sheikh Hamad bin Jassim bin Jaber Al Thani, who is one of the richest men in the Gulf state. However, Qatari state investors, who own a stake in French champions Paris Saint-Germain, could face challenges structuring a takeover of Manchester United, as rules forbid two clubs with the same owner taking part in the lucrative Champions League. Sheikh Hamad is the owner of PSG and it is unclear how the Qatari bid will be structured.

☆ Son of former Qatari PM bids for Manchester United
▼ + stars: | 2023-02-17 | by ( Anirban Sen | ) www.reuters.com time to read: +3 min

[1/2] Soccer Football - Premier League - Manchester United v West Ham United - Old Trafford, Manchester, Britain - July 22, 2020 General view of the corner flag inside the stadium before the match, as play resumes behind closed doors following the outbreak of the coronavirus disease (COVID-19) Martin Rickett/Pool via REUTERS. Feb 17 (Reuters) - Sheikh Jassim Bin Hamad Al Thani, a son of Qatar’s former prime minister, on Friday launched a bid to buy Premier League soccer club Manchester United, whose American owners launched a formal sale process late last year. A deal for United is expected to shatter records for the sale of a sports business. Sheikh Jassim is the son of Sheikh Hamad bin Jassim bin Jaber Al Thani, who is one of the richest men in the Gulf state. However, Qatari state investors, who own a stake in French champions Paris Saint-Germain, could face challenges structuring a takeover of Manchester United, as rules forbid two clubs with the same owner taking part in the lucrative Champions League.

Manchester United, INEOS, Tesla and Musk did not reply to requests for comment. "For potential buyers, football clubs like Manchester United are considered trophy assets driven by the perception of exclusivity. The size of that bid has fuelled speculation Manchester United will attract significantly more. Manchester United is the fourth richest soccer club in the world, according to analysis by Deloitte. A small portion of Manchester United shares is listed on the New York Stock Exchange.

☆ CPGs like Coca-Cola and P&G don't want to spend more on marketing, but might have to if consumers get fed up with all the price increases
▼ + stars: | 2023-02-16 | by ( Ryan Joe | ) www.businessinsider.com time to read: +4 min

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.

☆ Why you won't see many car ads during Sunday's Super Bowl
▼ + stars: | 2023-02-10 | by ( Michael Wayland | ) www.cnbc.com time to read: +7 min

The average cost of a 30-second commercial during last year's Super Bowl was $6.5 million, up more than $2 million over 2016 rates. Automakers — historically among the largest Super Bowl advertisers — are mostly bypassing this Sunday's NFL championship game to preserve cash or spend ad dollars elsewhere. And EV startup Polestar, whose ad was a success in the 2022 Super Bowl, said it will also not advertise this year. Ferrell also appeared in GM's Super Bowl ad promoting EVs two years ago. Stellantis has not released its ads, while GM, Kia and WeatherTech released their commercials earlier this week.

The U.S. food index, including meals eaten at home and in cafes and restaurants, increased 10.4% for the year ended in December. RETAILER PUSHBACKConsumer goods manufacturers - will continue to raise prices until they recover their profitability, said Bernstein analyst Bruno Monteyne. In December, the CEO of Walmart (WMT.N), the world's biggest retailer, warned that some "packaged goods suppliers are still pointing us towards more inflation next year on top of the mid-double digits this year". Tesco CEO Ken Murphy said last month he was hopeful inflation would peak by mid-2023 and then start to ebb. Barclays analyst Warren Ackerman said although food commodity prices on average were down 20% from March peaks, it will take time for this to reflect in companies' costs.

☆ How Paramount+ is punching above its weight with Stallone, Showtime, and reinvented library shows like CBS' 'Criminal Minds' and MTV's 'Teen Wolf'
▼ + stars: | 2023-02-07 | by ( Elaine Low | ) www.businessinsider.com time to read: +5 min

Paramount+ (formerly CBS All Access) is beefing up by bringing sister network Showtime into the fold. "The shows with rich, deep libraries are the ones that get a lot of consumption," said Paramount+ streaming chief Tanya Giles. But Paramount+ (formerly CBS All Access) is beefing up by bringing sister network Showtime into the fold — rebranding both the Showtime cable network and the streamer as Paramount+ With Showtime. Paramount+ is also building upon its library with originals: The streamer recently revived "Criminal Minds," which aired on CBS for 15 seasons. In anticipation of "Criminal Minds: Evolution," viewership of the original CBS "Criminal Minds" jumped 46%, a Paramount+ spokeperson shared with Insider.

☆ 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.

☆ UK shop price inflation hits record 8% in January: BRC
▼ + stars: | 2023-02-01 | by ( David Milliken | ) www.reuters.com time to read: +2 min

[1/2] People shop next to the clubcard price branding inside a branch of a Tesco Extra Supermarket in London, Britain, February 10, 2022. Overall food prices, which include longer-life goods, rose by 13.8%, while non-food prices were 5.1% higher. BRC chief executive Helen Dickinson said she did not think shop prices had peaked yet, as retailers were still facing rising energy bills and labour shortages. The BRC collected its price data between Jan. 1 and Jan. 7. Figures released by market research company Kantar on Tuesday , which covered the four weeks to Jan. 22, showed annual grocery price inflation of 16.7%.

☆ 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.

☆ UK video streaming market shows signs of recovery in last quarter of 2022
▼ + stars: | 2023-01-30 | by ( ) www.reuters.com time to read: +2 min

LONDON, Jan 30 (Reuters) - The UK video streaming market showed a tentative recovery in the final quarter of 2022, with subscriber numbers edging higher after a sharp decline earlier in the year when cash-strapped households sought savings, industry data showed on Monday. Market researcher Kantar said that between October and December the number of UK homes that had at least one paid-for video streaming service rose by 55,000 to 16.24 million, representing 56% of households. The gains were driven mainly by Prime Video (AMZN.O), AppleTV+ (AAPL.O) and Paramount+, rather than Netflix (NFLX.O). Kantar said 5% of British households took out a new streaming subscription during the final quarter of the year. The recovery followed a period of 12 months when one million British households dropped out of the subscription video-on-demand market, as they prioritised spending on essentials, such as food and energy.

☆ Support for New Zealand's Labour Party jumps after Hipkins replaces Ardern
▼ + stars: | 2023-01-30 | by ( Lucy Craymer | ) www.reuters.com time to read: +3 min

WELLINGTON, Jan 31 (Reuters) - Support for New Zealand's Labour Party has jumped to its highest level in almost a year after Chris Hipkins replaced Jacinda Ardern as prime minister and leader of the Labour Party. National is sitting at 37%, and is behind in Labour for the first time since early 2022. Hipkins had nailed the political messaging and managed to reconnect with former Labour supporters, said political commentator and former National Party staffer Ben Thomas. Carmel Sepuloni, the new deputy prime minister, who is of Samoan, Tongan and European descent, will be associate foreign minister. Hipkins's first official trip as prime minister will be to Australia next week where he is scheduled to meet with Prime Minister Anthony Albanese.

☆ Britain's Morrisons puts faith in better pricing to win back customers
▼ + stars: | 2023-01-26 | by ( James Davey | ) www.reuters.com time to read: +2 min

Morrisons, owned since 2021 by U.S. private equity firm Clayton, Dubilier & Rice, was overtaken as Britain's fourth-largest grocer by market share by German-owned discounter Aldi last September, according to researcher Kantar. Monthly industry data has consistently shown the group underperforming rivals including market leader Tesco (TSCO.L) and No. Sales in the three weeks before Christmas were up 2.5% year on year, said Morrisons, which has a UK grocery market share of 9.1%. In the financial year to end-October, Morrisons reported a 15% drop in core earnings (EBITDA) to 828 million pounds ($1.03 billion) while underlying sales fell 4.2%. Analysts had suggested that Morrisons' debt burden following CD&R's 7 billion pound purchase has impacted its ability to maintain price competitiveness.

WELLINGTON, Jan 25 (Reuters) - Labour leader Chris Hipkins was sworn in as New Zealand's prime minister in a formal ceremony on Wednesday, following the resignation of outgoing Prime Minister Jacinda Ardern last week. The Labour party elected former COVID-19 Response and Police minister Hipkins, 44, to lead the party and the country on Sunday. Hipkins and his deputy Carmel Sepuloni - the first person of Pacific Islander descent to hold the role - were then sworn in, in a ceremony lasting a few minutes. Hours later, Hipkins met with journalists after his first cabinet meeting as Prime Minister. Chris Hipkins speaks to members of the media, after being confirmed as the only nomination to replace Jacinda Ardern as leader of the Labour Party, outside New Zealand's parliament in Wellington, New Zealand January 21 2023.

[1/2] Chris Hipkins speaks to members of the media, after being confirmed as the only nomination to replace Jacinda Ardern as leader of the Labour Party, outside New Zealand's parliament in Wellington, New Zealand January 21, 2023. We are different people though, and I'm sure that people will see that," Hipkins told a news conference on Saturday after emerging as the only candidate to lead the ruling Labour Party. First elected to parliament in 2008, Hipkins became a household name fronting the government's response to the pandemic. He was appointed health minister in July 2020 before becoming the COVID response minister at the end of the year. Hipkins is known around parliament for his sense of humour - including an ability to laugh at himself.

Her successor as Labour leader and prime minister faces a stern test in a general election in October, with support for the party falling and the country expected to fall into a recession next quarter. Despite her high global profile, Ardern's Labour Party has slid in the polls, hurt by rising living costs, growing crime and concern about social issues. That meant that even with traditional coalition partner the Green Party, polling at 9%, Labour could not hold a majority. Ardern most likely stepped down to give the Labour Party a chance to refresh and reposition itself ahead of an election in October, experts said. CONSERVATIVES BUOYEDThe conservative National Party may be buoyed by Ardern's resignation.

☆ Lidl GB expects more customers to switch from rivals after bumper Christmas
▼ + stars: | 2023-01-09 | by ( James Davey | ) www.reuters.com time to read: +2 min

Lidl GB, part of Germany's Schwarz retail group, said on Monday over 1.3 million more customers shopped at its stores in the seven days to Christmas Eve. Also unlike their traditional rivals, Aldi and Lidl are still opening lots of new stores. Last week Aldi UK reported a 26% increase in December sales. However, investment to keep a lid on prices has held back profit at both Aldi and Lidl. Lidl GB highlighted strong sales of Christmas vegetables sold for 19 pence a pack, Christmas puddings, prosecco, mulled wine and cheese.

☆ After Christmas relief UK retailers face 2023 reality check
▼ + stars: | 2023-01-06 | by ( James Davey | ) www.reuters.com time to read: +3 min

Ahead of Christmas, European retailers fretted that the key trading period could be the worst in at least a decade. Next, often acclaimed as a bellwether for the UK consumer economy, said it expected sales and profit to fall in 2023. The strain on Britons' household budgets is likely to begin to tell this month as Christmas credit card bills arrive. UK consumers will this year face persistent inflation in essential goods, particularly food and energy. M&S's apparel business will likely have benefited from Britain's severe cold snap in December which Next said dramatically boosted sales.

☆ Investors anxiously await jobs report for clues about Fed rate hikes
▼ + stars: | 2023-01-05 | by ( Paul R. La Monica | ) edition.cnn.com time to read: +7 min

Traders are betting on a further deceleration in jobs growth because that could lead to a reduction in the size of interest rate hikes by the Federal Reserve. Further strength could set off more alarm bells about inflation and Fed rate hikes. Focus on worker payWall Street will also need to dive even deeper into Friday’s jobs report to get a better sense of what’s happening in the economy. Investors cheered the fact that wage growth, measured by average hourly earnings, rose only 4.7% over the previous 12 months in October. Big Tech keeps handing out pink slipsOverall, the jobs market is still in good shape.

☆ Aldi sales soar as UK shoppers battle record food inflation
▼ + stars: | 2023-01-04 | by ( Hanna Ziady | ) edition.cnn.com time to read: +2 min

London CNN —Aldi recorded its highest-ever December sales in the United Kingdom, as shoppers squeezed by searing food price inflation flocked to the German discount supermarket chain to save money on groceries. The British Retail Consortium said Wednesday that food inflation accelerated to 13.3% in December, up from 12.4% in November, the highest level recorded since it started tracking the data in 2005. Fresh food inflation accelerated to 15% in December, also an all-time high. Lidl’s sales increased by nearly 24%, its data showed. Tesco (TSCDF) and Sainsbury’s, the largest UK grocers by market share, grew sales by 6% and 6.2% respectively.

☆ Inflation drives Britain's record Christmas grocery sales
▼ + stars: | 2023-01-04 | by ( James Davey | ) www.reuters.com time to read: +2 min

Kantar said grocery price inflation was 14.4% in December, down from 14.6% in November, with prices rising fastest in markets such as milk, dog food and frozen potato products. “This is the second month in a row that grocery price inflation has fallen, raising hopes that the worst has now passed," McKevitt said. Online grocery sales rose 4%, though its share of the market fell 0.6 percentage points to 11.6%. Overall UK inflation is running at 10.7% and consumers face the prospect of a tighter squeeze in 2023, with higher taxes and mortgage rates and scaled-back government support on household energy bills. UK grocers' market share and sales growth (%)Source: Kantar($1 = 0.8345 pounds)Reporting by James Davey Editing by Mark HeinrichOur Standards: The Thomson Reuters Trust Principles.

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