Former Tesco boss Philip Clarke will not face charges from the Serious Fraud Office over the accounting scandal that blew a £326m hole in the UK retailer’s books, according to his lawyer (The Financial Times). The SFO is understood to have told Clarke that there is “insufficient evidence to provide a realistic prospect of conviction” over his alleged role in accounting scandal in 2014, The Times adds.
The Financial Times takes a look at the Amazon’s drive-in grocery store set to open in Seattle as the online behemoth experiments with bricks-and-mortar strategy. Amazon accounted for more than a quarter of all warehouse space rented in the UK this year, as the online giant continues to ramp up its operations, research from property agency Savills has found (The Telegraph).
The Financial Times examines the fortunes of the big four grocers, writing that the Potts-led turnaround at Morrisons “shows promising signs but Tesco and Sainsbury’s retain clear lead”.
The Financial Times follows up The Grocer’s lead as Cadbury comes under fire for pulling out of the Fairtrade scheme in favour of its own “sustainability programme”. Read the full story on thegrocer.co.uk.
Britons are facing a jump in prices for traditional pudding ingredients as the Brexit vote has sharply weakened the pound, The Financial Times writes. However, the cost of Christmas dinners is almost unchanged from a year ago despite a rise in pork and vegetables.