Approximately 12,000 Asda workers are currently facing the sack next month for refusing to sign controversial new contracts - It is understood all staff who fail to sign the agreement by a 2 November deadline will be dismissed unless the supermarket chain backs down (Sky News). Around 12,000 Asda workers face losing their jobs next month for refusing to sign contentious new contracts (The Times £). Asda workers protesting against a new contract have marched to the supermarket’s headquarters to hand in a 23,000-signature petition (The BBC).
The competition watchdog will begin a formal investigation into whether Amazon’s estimated $500 million investment in Deliveroo would hurt the takeaway delivery market (The Times £). The competition watchdog has formally launched an investigation into Amazon’s investment in food delivery firm Deliveroo (The Daily Mail).
German discounter Lidl is ramping up its efforts to sell more British products as continues its assault on the grocery market (The Telegraph). Lidl is spending £15billion on its British business over the next five years in a boost to UK farmers (The Daily Mail).
Distilleries have taken to flying their whisky across the Atlantic in a rush to get bottles into the US before Donald Trump’s trade tariffs take effect. (The Financial Times £)
The UK High Street faces £137m hike in business rates despite shops closing at a rate of 16 per day. It will take the total paid by the sector to £6.25billion after a year when dozens of famous names have gone bust or closed stores. (The Daily Mail)
September saw UK price inflation remain at a three-year low, as consumers saw fuel prices fall and the cost of alcohol decline (Sky News). Falling petrol prices kept a lid on inflation last month, according to official figures (The Times £). UK inflation in September remained at its lowest level since late 2016, providing continued support to consumer spending power as Brexit uncertainty clouds the economic outlook (The Financial Times £).
Domino’s Pizza is to pull out of its international markets saying it is “not the best owner” of the businesses as sales continue to fall. (The Telegraph)
British American Tobacco and Imperial Brands shares are still a smoking hot bargain, according to The Times’ Tempus column: “They could easily absorb the demise of vaping for decades to come and the shares are extremely cheap.” (The Times £)
Pret a Manger has given its most popular sandwiches – including the tuna baguette and BLT – a high profile vegan makeover, in response to the fast-growing demand for plant-based food. (The Guardian)
American shoppers curbed their spending last month, raising new questions about how much longer they can continue to support the economy as global growth falters. (The Financial Times £)
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