The £7 billion takeover of Morrisons by private equity giant Clayton, Dubilier & Rice (CD&R) has been given the go-ahead by shareholders.
The Bradford-based supermarket chain agreed the deal at the start of this month after a lengthy auction.
On Tuesday, Morrisons held a general meeting with investors to seek approval for the move.
The retailer confirmed that 99.2% of the shareholder...
Luxury fashion group Burberry has named Gianni Versace boss Jonathan Akeroyd as its new chief executive.
Mr Akeroyd, 54, will take up the post on April 1 next year with a “golden hello” worth around £6 million in deferred cash and shares in lieu of bonuses he has forfeited on leaving Versace.
He replaces Marco Gobbetti, who in June announced unexpected...
Commercial property owner Hammerson has revealed the number of shoppers heading to its sites has improved to between 15% and 20% below pre-Covid levels.
But the owner of the Birmingham Bullring and London’s Brent Cross said despite the numbers still being below pandemic levels, all rents must be paid, adding: “We do not anticipate granting future concessions and all avenues...
The latest data shows that eCommerce has remained buoyant, despite normal life resuming as people jet off on holiday and see friends, with online sales up 24% and referrals up 15% compared to pre-pandemic levels. That’s according to new research from Referral Engineering platform Mention Me, which has analysed online retail sales over Q3 2021.
As it heads into peak...
Price comparison group Moneysupermarket.com has agreed to buy cashback business Quidco in a deal worth up to £101 million.
Moneysupermarket said it will pay £87 million in cash with a further £14 million deferred under the deal to snap up Maple Syrup Media, trading as Quidco.
Quidco is the second largest cashback business in the UK, with around one million members.
It offers...
Tesco is launching its first checkout-free high street store where shoppers can pick up their groceries and leave without the need for a till.
It is the latest retail giant to open a store where checkouts are replaced by high-tech cameras designed to track the items shoppers place in their baskets. The firm’s high street store trial, which it has...
Pandemic-fuelled price sensitivity is making European shoppers less loyal to brands, prompting shoppers to switch to own-brands rather than private-label products, the latest research from Pricer, the world’s most reliable provider of ESLs (Electronic Shelf Labels), reveals. Original research of over 10,000 European shoppers in Pricer’s latest report – Retail Europe Shopper Outlook 2021 - showed over half (57%)...
The billionaire brothers who took over Asda earlier this year have abandoned a £750 million plan to fold the company’s petrol forecourts into their filling station empire.
Asda and the EG Group said they had decided to terminate the deal on Monday after new information came to light.
The deal was first agreed in February, but it was not until June...
The Transport Secretary Grant Shapps has said “Christmas will go ahead” after further measures were introduced in a bid to tackle supply chain problems hitting industries across the UK.
Shoppers are said to be buying a raft of Christmas items, such as presents and frozen turkeys, party decorations, early in a bid to make sure their festive celebrations are not...
The contactless card transaction limit has been raised to £100 – but some people will be able to set their own limits.
However, this will depend on who they bank with – as the options being offered vary.
Here is a look at what banks are saying:
– Lloyds Banking Group
Customers of Lloyds, Halifax and Bank of Scotland will be able to...