Unilever has withdrawn plans to move its headquarters from London to the Netherlands after shareholder pressure (Telegraph, Financial Times £). The consumer products company said the proposal had not “received support from a significant group of shareholders and therefore consider it appropriate to withdraw”. When the plan was announced it landed a major blow to the UK government’s effort to promote Britain as a centre for business post-Brexit. But Unilever has always insisted the move to focus on Rotterdam was “nothing to do with Brexit” (Sky News).
Waitrose are going to offer customers the chance to have the store’s delivery staff unpack their shopping while they are out (Sky News). The scheme, named While You’re Away, will initially be trialled with 100 customers located near the supermarket chain’s fulfilment centre in Coulsdon, south London. Customers taking part will need smart lock technology, allowing them to set a temporary access code which is sent to Waitrose via a secure app and then onto the delivery driver’s device when they arrive at the customer’s home.
Some Amazon workers will be out of pocket despite a recently announced pay rise because the e-commerce giant is scrapping a share incentive scheme, a union has claimed (Independent). Workers represented by the GMB union at Amazon’s Milton Keynes warehouse were said to be “fuming” at the company’s announcement. “This pay rise is just a scam – they’re taking away our share option as well as our Christmas bonuses,” said one worker who did not wish to be named.
Costco’s reported better than expected revenue growth in its fourth quarter, but higher wage costs left earnings only in line with Wall Street forecasts (Financial Times £).
Constellation Brands, the beer maker betting on the marijuana market, on Thursday raised its full-year earnings outlook and posted upbeat second quarter sales driven by strong demand for its Modelo and Corona brews (Financial Times £). The rosy outlook accompanied upbeat quarterly sales, which jumped 10.1 per cent from a year ago to $2.3bn.
John Lewis has come under fire for charging as much as £5.75 for delivering its gift cards (Daily Mail). The department store chain run by Paula Nickolds has been accused of being ‘opportunistic’ for charging between £2 and £5.75 for gift card delivery depending on the value of the card.
A U.S. unit of Brazil’s JBS SA is recalling 6.5 million pounds of beef products processed through an Arizona plant because the meat might be contaminated with salmonella, U.S. government officials said on Thursday (Reuters).
A division of Italian insurance group Generali has emerged as the buyer of a €565m real estate portfolio from French retailer Casino (Financial Times £). Casino announced the deal on Monday, but declined to name the buyer, referring to it as a “major institutional investor”.
Electra Private Equity has kicked off a jumble sale of its remaining assets after agreeing the disposal of its investments in Photobox and Knight Square (The Times £). Electra said that once the two businesses were sold, it would carry out a “managed wind-down” of its investment portfolio, mainly comprising of TGI Fridays, the restaurant chain, and Hotter Shoes, the footwear retailer.
The chief executive of the bailed-out Royal Bank of Scotland has warned a no-deal Brexit could tip the UK into a recession (The Guardian).
British Home Stores is set to make a limited return to UK high streets after the brand’s Qatari owners reached a concessionaire agreement with Beales, a privately owned department store group (Financial Times £).
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