Private equity business narrowly beats rival Fortress with offer that rises to £9.97bn when including debtThe US private equity firm Clayton, Dubilier & Rice (CD&R) is set to become the new owner of Morrisons after the grocer’s board backed its…
Bringing in the army won’t halt petrol crisis, says fuel industry boss
Business chiefs accuse ministers of being ‘missing in action’ amid growing backlash against governmentMinisters have been told that petrol queues in some parts of the country have become worse and army help will not relieve the problem, amid a growing …
‘Red wall’ Tories call on Rishi Sunak to cut business rates
MPs elected in former Labour heartlands in 2019 say tax reform is needed to stem high street closuresConservative MPs in “red wall” seats have urged the chancellor to cut business rates, days after Labour announced it would abolish the tax and overhaul…
As Morrisons auction looms, pension deals ought to have been nailed down | Nils Pratley
CD&R stepped up to the mark two weeks ago, but Fortress’s foot-dragging looks poor ahead of SaturdayThe structure for Saturday’s auction for Morrisons is technically flawless, as argued in this column on Wednesday, but there is still a problem: onl…
Frasers Group could face shareholder revolt over new CEO’s £100m bonus
Advisory groups advise voting against remuneration plan, flagging ‘excessive payouts’Mike Ashley’s Frasers Group faces a showdown with shareholders on Wednesday as it seeks approval of a £100m bonus scheme for its incoming chief executive, Michael Murr…
Supply chain crisis could last months admits PM but fuel situation ‘improving’
Labour accuses PM of ‘reducing the country to chaos’ with cars continuing to queue and fights breaking outBritain’s supply chain strain could last until after Christmas, Boris Johnson has admitted as he urged motorists to stop panic-buying fuel by insi…
Lego doubles profits as demand soars beyond Covid-19 lockdown
Brick brand says it does not not expect problems with Christmas stock despite global supply crisisLego profits more than doubled in the first six months of the year as brick fans stayed home to build Star Wars and Harry Potter models even after the Cov…
Aldi to create 2,000 jobs in £1.3bn UK expansion plan
Discount supermarket chain to open further 100 stores as it reports 10% rise in UK and Ireland salesAldi will create 2,000 jobs and open another 100 stores across the UK as part of a £1.3bn plan to take a larger share of the British grocery market.Aldi…
‘I was empty, I’m not panic-buying’: in the petrol queue on the North Circular
Inside lane of one of the UK’s busiest roads is full of frustrated motorists waiting for a turn at the pump A kilometre of one of the UK’s most congested roads was on Sunday taking on a new, unwanted role: the queue for a BP garage still managing to se…
European lorry drivers ‘will not want to come to UK’, warn haulage chiefs
Emergency visa plan will not resolve Britain’s road transport crisis, says industry as majority blame Brexit in pollThe government’s emergency programme to issue temporary visas to thousands of lorry drivers is far too little to resolve Britain’s suppl…