Bulletin: M&S beats forecasts… Kraft bid needs more cash... farmers must go green
Yesterday Marks & Spencer surprised some analysts with an upbeat trading update that saw profits rise ahead of forecasts. That’s the take in the Independent, anyway.
There’s a rather different angle in the Daily Telegraph, which has Sir Stuart Rose saying the UK is “skint”. We think that’s a technical City term relating to cash-flow inadequacies. The Daily Mirror, meanwhile, has news of a £60 festive bonus for M&S workers. Wonder what Sir Stuart will spend his on.
And the Daily Record catches up with the news that the high street giant is to sell branded goods nationwide. News obviously travels slower in Scotland.
There’s more on the looming bid for Cadbury by Kraft. The Guardian says the chances of the confectioner surviving independently have been boosted by Kraft’s solid/unspectacular third-quarter figures.
And the Telegraph says Kraft may have to increase the cash portion of any bid in the wake of those revised sales forecasts.
The Times reports that English farmers have been told to switch to greener methods that promote wildlife or risk losing the cash hand-outs they get from government.
Elsewhere, the Indy looks at Pakistan’s only beer company, which is apparently doing a roaring trade.