Author: Scott Dylan

UK consumers are facing a potential 5% increase in food prices next year, as reported by the Institute of Grocery Distribution (IGD) in their ‘Hungry For Growth’ report.The impending rise in food prices is a cause for concern among UK shoppers. According to the IGD, a 4.9% increase is expected in 2025, which could push grocery costs up to 40% higher than they were in 2020. The report attributes this surge to several factors, primarily the high costs of labour. The National Living Wage is set to rise, coupled with increased National Insurance bills.The Windsor Framework, effective from July 2025,…

The CEO of Currys, Alex Baldock, is determined to maintain the company’s growth trajectory despite looming financial challenges.Currys faces a £32 million increase in tax bills starting April next year, impacting the company’s financial plans.National Insurance contributions and National Living Wage increases are among the new cost pressures for the retailer.Baldock reported a reduction in pre-tax losses and a slight sales increase despite tough economic conditions.The retailer is exploring further cost reductions and views price increases as a last resort.Currys, a major player in the electrical retail sector, is bracing for significant financial challenges as it anticipates a £32 million…

This week, Adidas’ headquarters in Germany were searched by authorities as part of a tax evasion probe involving €1.1 billion.The European Public Prosecutor’s Office is conducting a criminal investigation against a German sportswear group for suspected tax evasion.Adidas acknowledged the raids, confirming cooperation and document submission to the authorities.The investigation includes multiple locations and private residences due to alleged tax discrepancies.Adidas attributes the issue to differing interpretations of German and European tax laws.This week saw authorities raiding Adidas’ headquarters in Germany, marking a significant development in an ongoing multi-year investigation into alleged tax evasion. The operation, involving criminal prosecutors and…

The prevailing concern over living costs is significantly influencing the shopping habits of consumers in the UK. According to new data, 36% of shoppers are reducing their grocery purchases, while 48% are exploring multiple stores to secure savings. This highlights the ongoing struggle families face amid economic pressures, as reported by Circana’s latest analysis in the ‘State of the Nation 2025’ report.The food and drink sector in the UK is anticipated to experience a modest growth of 1% in 2024 as living costs gradually ease. However, specific product categories are witnessing substantial growth. Notably, the gut health market, valued at…

River Capital’s fund:AI has invested in agritech firm Fotenix, marking a significant step for the industry.Fotenix, a spin-out from the University of Manchester, is known for its innovative digital twin software.The investment is aimed at enhancing Fotenix’s sales and product development initiatives.Fotenix’s technology aids in early detection of crop issues, thereby improving agricultural yields.The investment reflects the growing importance of AI in tackling agricultural challenges.River Capital’s newly established fund:AI has shown its confidence in agritech by investing a considerable sum into Fotenix. This move showcases the potential of AI-driven solutions in addressing some of the pressing issues faced by modern…

Post-Brexit border controls have become a significant concern for British vegetable importers, who warn of potential impacts on the 2025 harvest.The recent introduction of the Border Target Operating Model (BTOM) has implemented stricter controls on European Union plant and animal goods entering the United Kingdom. This new model presents a ‘critical challenge’ to the importation of plants and seeds, according to industry sources reported by The Grocer.Growers who rely on seed and young plant imports for the upcoming 2025 growing season are particularly affected, facing substantial delays at the border. The sanitary and phytosanitary (SPS) controls, a direct consequence of…

British vegetable importers are expressing deep concern over the significant impact of post-Brexit border checks, which threaten the upcoming 2025 harvest.The introduction of the Border Target Operating Model (BTOM) has led to stricter controls on plant and animal goods coming from the EU into the UK, posing substantial challenges for importers. British seed importers have flagged this issue as a ‘critical challenge’, as reported by The Grocer. These new regulations have introduced complexities in the import process, particularly affecting growers who rely on seeds and young plants from Europe.Since the implementation of sanitary and phytosanitary (SPS) controls following Brexit, there…

Gary Barlow embarks on his next wine tour adventure, this time across Australia.Following a successful stint in South Africa, Barlow’s series is eagerly anticipated for 2025.Rock Oyster Media has started filming the six-part series, showcasing Australia’s rich cultural landscapes.The series promises engaging interactions with chefs, wine producers, and breathtaking Australian locales.ITV has scheduled the series to air in the Spring of 2025, promising surprises and entertainment.Gary Barlow is set to continue his acclaimed wine tour series with an exploration of Australia. After a popular series set in South Africa, viewers can look forward to new adventures as the star travels…

Tos Chirathivat, co-owner of Selfridges, deemed the £4bn purchase price high.The 2021 acquisition included several European luxury stores besides Selfridges.Rising global interest rates have made the purchase price seem steeper.Central Group faces challenges, including a partner’s financial collapse.The company aims to enhance Selfridges into the world’s top department store.In a recent revelation, Tos Chirathivat, the executive chairman and CEO of Thailand’s Central Group, acknowledged that the £4 billion price tag for acquiring Selfridges and additional European luxury department stores in 2021 was high. Amidst rising global interest rates, the financial burden of the purchase is increasingly apparent. Chirathivat remarked, “You…

Boohoo has challenged Frasers Group’s board nominations ahead of a critical meeting.Boohoo urged shareholders to reject Frasers Group’s board candidates, Mike Ashley and Mike Lennon.The advisory firms Glass Lewis and ISS both recommended voting against the proposed appointments.Concerns were raised about potential conflicts of interest compromising shareholder interests.Boohoo’s leadership reaffirmed their strategy to maintain the company’s independence.Boohoo has formally opposed the proposed board nominations by Frasers Group, encouraging its shareholders to vote against these resolutions. The upcoming General Meeting on 20 December will be pivotal, as proxy advisers Glass Lewis and ISS have advised shareholders to reject Frasers’ board candidates.Glass…