Unilever’s chief executive has expressed regret over steps the company took last year to woo shareholders in the wake of Kraft Heinz’s unsolicited $143bn takeover approach, as he urged investors to rethink their short-term focus on maximising shareholder value. (The Financial Times £)
Greggs is set to open a “centre of excellence” for doughnuts which will be in Newcastle, as part of their rapid expansion plans ( The Telegraph ). Greggs is heading to the heart of government for the launch of its first Underground outlet at Westminster station as it continues its push in key travel and work-centred locations (The Financial Times £). Greggs, which opened 90 stores last year, expects thousands of retail and distribution jobs this year, but will make hundreds redundant as it looks to save money on manufacturing (The Daily Mail)
Shop prices have sunk deeper into deflation, suggesting that the worst of the squeeze on incomes from sterling’s devaluation since the Brexit vote may be over (The Times £).
The world’s first plastic free aisle was launched in Amsterdam by environmental campaign group A Plastic Planet and Dutch supermarket Ekoplaza, allowing shoppers to choose from 700 products that are free from plastic packaging. ( The Guardian )
PG Tips, the UK’s biggest tea brand, is switching to fully biodegradable tea bags free from synthetic materials, in order to reduce plastic pollution. The first of the new eco-friendly pyramid teabags, made from plant based material, will go on sale next week. ( The Guardian )
The FT has an in-depth look at the consumer goods sector, large companies squeezed by innovative offerings from smaller rivals are now adopting their business models in search of higher growth. (The Financial Times £)
Toys R Us and Maplin are on the brink of collapse, which will put almost 6000 jobs at risk, a £120 million investment deal lifeline for Toys R Us is unlikely to go through. (The Telegraph, The Guardian, The Daily Mail)
Sky News has learnt that Edinburgh Woollen Mill’s discussions about a rescue of Maplin, which employs 2,500 people, broke down just hours before a deadline to agree a solvent sale of the business. ( Sky News)
Research from by the Institute of Alcohol Studies, has found that beer in supermarkets and off-licences is almost 188% more affordable today than it was three decades ago. They have called for greater legislation to combat pressure on health services due to increased alcohol intake. ( The Independent )
Marks & Spencer admits to paying female staff 12.3% less than male workers, around 57% of senior managers are male and men also account for 70% of the company’s 10-person board.( The Independent )
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