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BusinessRetail SMEs Globally Require a New Funding Model That Meets Their Needs
Top StoriesTurkey’s Flo in Talks to Take Over Reebok’s Stores in Russia – Chairman
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Morrisons Clinches Deal for UK Retailer McColl’s – Sky News
Date: May 9, 2022
(Reuters) – British supermarket group Morrisons has won a battle with the owners of rival Asda to buy convenience store chain McColl’s out of administration, Sky News reported on Monday. McColls, which runs 1,100 stores and employs 16,000, collapsed into administration, a form of protection from creditors, on Friday, with PricewaterhouseCoopers (PwC) named as administrator....
Ukraine War Drives De Beers to Step up Diamond Traceability Efforts
Date: May 9, 2022
By Clara Denina and Helen Reid CAPE TOWN (Reuters) – De Beers, the world’s No. 2 diamond producer, is stepping up efforts to formally track its products from mine to retailer, the company’s CEO said, as Western customers want assurance that their purchases do not come from Russia. De Beers, a unit of Anglo American,...
Ikea to Spend 3 Billion Euros on Stores as It Adapts to E-Commerce
Date: May 9, 2022
By Anna Ringstrom STOCKHOLM (Reuters) – IKEA retailer Ingka Group is spending 3 billion euros ($3.2 billion) through 2023 on new and existing stores, much of it to modify its trademark out-of-town outlets so they can double up as e-commerce distribution centres. Tolga Oncu, retail manager at the group which owns most IKEA stores worldwide,...
Russia Publishes List of ‘parallel Imports’ Goods
Date: May 6, 2022
(Reuters) – Russia published a detailed list of goods from foreign carmakers, technology companies and consumer brands on Friday that the government has included in a so-called “parallel imports” scheme aimed at shielding consumers from business isolation by the West. Many global brands have halted sales in Russia in response to Moscow sending tens of...
Global Gloom Sets European Shares for Worst Week Since March
Date: May 6, 2022
(Reuters) -European stocks were on course for their worst week in two months on Friday following a carnage on Wall Street as investors feared that bigger interest rate hikes would be needed to tame decades-high inflation. The pan-European STOXX 600 index fell 1.6%, with retailers suffering the biggest loss among sectors. Europe’s retail index slumped...
Struggling British Pig Industry Calls for Tesco to Step-Up
Date: May 5, 2022
LONDON (Reuters) – The trade body for Britain’s pig industry on Thursday told Tesco, the country’s biggest supermarket group, it needs to do more to support struggling producers or risk losing its UK pork supply base. In an open letter to Tesco Chief Executive Ken Murphy, the chairman of the National Pig Association (NPA), Rob...