Grocery delivery app pioneer Getir is in talks to take over its heavily lossmaking rival Gorillas, according to people familiar with the deal, as investor sentiment cools on one of the pandemic’s hottest tech trends (The Financial Times £). declined to comment on the talks, which were first reported by Bloomberg.
Asda is slashing 1,500 grocery delivery drivers’ hourly pay by more than 12% despite the cost of living crisis (The Guardian). The UK’s third largest supermarket chain is ending a £1.50-an-hour premium introduced in the summer to help attract and retain drivers.
Morrisons has received the green light from the competition watchdog to buy McColl’s (The Mail).
The Big Read in The Financial Times (£) explores how Ben & Jerry’s became a legal nightmare for Unilever. “The fight over Israel between a ‘purpose-led’ parent company and a brand with an even louder voice shows the limits of corporate ethics.”
Cardboard packaging provider DS Smith now expects annual profits to come in ahead of expectations, despite a slowdown in demand for corrugated boxes (The Mail).
Amazon is holding its second Prime Day shopping event in a year for the first time this week in a bid to boost its flagship ecommerce product and reverse declining sales (The Financial Times £).
A Lex column in The Financial Times (£) takes a closer look at prospects at Greggs. It says the UK bakery chain needs to keep innovating and broadening its appeal. “For an inventive company that came up with the vegan sausage roll, this should not be too big an ask,” the papepr writes.
The market report in The Times (£) examines a drop in share prices at global alcohol producers after news emerged of a potential government plan in China to impose a prohibition order on civil servants. Shares in Diageo, Remy Cointreau and Perond Ricard all fell as a result.
The number of visitors to shopping destinations dropped back last week in one of the first indications of a slowdown in spending amid rising energy bills (The Guardian).
Three quarters of companies have been hit by labour shortages in the past 12 months, with a lack of staff “having a material impact” on many businesses’ trading as well as growth ambitions (The Times £).
The Post Office handled a record of almost £3.5bn in cash for customers in August, against a backdrop of bank branch closures and the cost of living crisis (The Guardian).
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