The petrol forecourts business owned by the billionaire Issa brothers has been accused of profiteering after gross fuel profits rose by 20% to $1.7bn. EG Group, run by Mohsin and Zuber Issa, reported that total revenues rose by 29% to $25bn for the year to September 30 (The Times £).
British retailers are “feeling the chill” as their sales plummet in what should be their busiest time of year, prompting some to start letting go of workers (The Times £).
UK retailers have launched a barrage of discounts to try to clear stock after a month of falling sales as soaring inflation and bills hit households’ budgets and a warm autumn reduced demand for coats and boots (The Guardian).
The Financial Times (£) looks at how cracks started to appear in UK’s booming free-range egg market. “Avian flu and soaring production costs due to the Ukraine war have led farmers to quit, causing supermarket shortages.”
England may be having an up-and-down World Cup, but the early evidence suggests that the matches are providing a big boost to pubs with large screens (The Times £). Marston’s reported that for the first two England matches total like-for-like sales on those days were up by 30% on the equivalent days last year.
French supermarket group Casino is offloading a chunk of its 41pc stake in Brazilian peer Assai as part of its efforts to cut down debt (The Financial Times £).
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