The chief executive of supermarket J Sainsbury Mike Coupe has called for tax reform to ease the burden of business rates, but cautioned that overhauling the controversial property levy will not in itself reverse the decline of traditional high streets. (The Financial Times £)
The UK high street has posted its worst August performance for three years, in further evidence of the pressure on traditional retailers (The Guardian). Troubled high streets were dealt another blow last month as sales shrank, according to a survey by the accountants BDO (The Times £).
British farmers will be given the green light to recruit up to 2,500 migrants a year to alleviate labour shortages. Ministers have drawn up the seasonal work scheme to supplement the agricultural sector, which relies on 75,000 temporary migrants to work on UK farms. (Sky News)
Ready meals maker Bakkavor has warned rising commodity prices may dampen demand from shoppers, as it sounded a cautious note for the rest of the year. (The Telegraph)
Global soft drink companies have made their biggest commitment yet to eliminating the use of throwaway plastic bottles, in an action plan presented to parliament. (The Guardian)
The British animal genetics company Genus lost a fifth of its market value at one point yesterday as it warned that trade disputes between the United States and China and the spread of African swine fever could dent growth. (The Times £)
Chapel Down Group said it would become the biggest vineyard in England after agreeing to lease 388 acres of farmland next to its existing vineyards on the North Downs. (The Times £)
Distillers raise glass to future of English whisky, writes The FT. New craft distillers are springing up, using gin as a ‘stopgap’ while their whisky is ageing. (The Financial Times £)
Starbucks is to bring American coffee to the home of espresso when the doors of its first shop in Italy open today (The Times £). Starbucks has hit the spiritual home of the espresso, opening its first branch in Italy in the form of a cavernous Milan cafe with a heated, marble-topped coffee counter, a mezzanine cocktail bar and a state-of-the-art, on-site roastery (The Guardian). It has taken more than two years to build, but on Friday, Starbucks will open its first Italian outlet (The BBC).
Retailers in the UK say they are struggling with unfair competition from Chinese online sellers who benefit from subsidised postal costs. Domestic vendors say it can be cheaper to send a small item to London from Shenzhen than from Sheffield, partly thanks to international rules. (The Financial Times £)
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