Tesco faces £2.5bn bill after the European Court of Justice Supermarket ruled that shop floor workers’ pay can be compared to distribution centre staff (The Telegraph). Tesco faces a £2.5billion bill after Europe’s top court backed thousands of shop floor workers in a mammoth equal pay lawsuit (The Daily Mail). European judges have dealt a blow to Britain’s supermarkets by ruling in an equal pay claim that female shop staff can compare their roles with male colleagues at distribution centres (The Times £). Europe’s top court has ruled that Tesco supermarket workers can compare the value of their work to that of colleagues in distribution centres, boosting a long-running equal pay claim (The Financial Times £). Thousands of Tesco workers have won a landmark decision against the supermarket giant in an equal pay case being heard by the European Court of Justice (Sky News, The BBC).

Global food prices have surged by the biggest margin in a decade, as one closely watched index jumped 40% in May, heightening fears that the inflation initially stoked by pandemic disruption was accelerating (The Financial Times £). The surge in food prices continued last month, suggesting that pandemic-induced inflation is accelerating. Prices jumped by 40% compared with a year ago, according to a key United Nations gauge (The Times £). Global food prices have jumped at their fastest monthly rate in over a decade, according to the United Nations (The BBC).

Pre-tax profit at value retailer B&M doubled in the year to March 27 but the group cautioned that same-store sales were likely to be negative this year, given the very strong comparatives (The Financial Times £). Profits at the owner of B&M Bargains more than doubled last year as shoppers flocked to the discount chain during lockdowns, resulting in a bumper payday for its bosses (The Times £). Britons’ penchant for DIY, gardening and sprucing up their homes during the pandemic has helped give retailer B&M’s bottom line a major boost (The Daily Mail).

The cut-price retailer B&M is aiming to step up expansion after more than doubling profits last year with sales of DIY kit, gardening items and homeware booming as its stores remained open throughout lockdown. (The Guardian)

The boss of B&M has hit out at “nonsense” Irish border rules that he said have forced the discount chain to conduct excessive veterinary checks to ship Pot Noodles across the Irish Sea. (The Telegraph)

Getir, the Istanbul-based grocery delivery app, has raised $550m in new funding — tripling its valuation to $7.5bn, including the new capital, barely three months after its last financing. (The Financial Times £)

Amazon is predicted to overtake Tesco as Britain’s biggest retailer in 2025, marking a major change of the guard. (The Daily Mail)

CBI urges more support for businesses struggling to pay rent UK lobby group wants eviction ban extended for companies with incomes below 30% of normal levels. (The Financial Times £)

The reopening of indoor hospitality last month failed to boost footfall in town centres, according to the latest figures. (Sky News)

Businesses are expanding their workforces at a record pace to cope with a wave of demand after the easing of lockdown, a survey suggests (The Times £). Jobs vacancies in the UK are soaring but there are not enough workers to fill them, a report suggests (The BBC).

Nestlé is engineering an exit from the fat years, writes The FT. Food and drink companies now rely on biotechnology to reduce unhealthy ingredients. “It is taking on Oatly, the Swedish oat drink maker, in Europe with a pea-based milk alternative called Wunda; it has launched Sensational Vuna vegan tuna in Switzerland. But it still makes processed food, if not as we know it.” (The Financial Times £)

 

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