There would have been weary sighs in retail boardrooms this week after India’s government suspended plans to open up its retail sector to more overseas investment. It was, Tesco CFO Laurie McIlwee claimed, a “missed opportunity” for India. McIlwee, meanwhile, also faced questions about Tesco’s UK operations, which reported another quarter of falling sales. Elsewhere, Wal-Mart, another retailer that could benefit from reform in India, raised eyebrows when it admitted it had opened an investigation into bribery allegations within its international operations.
INDIA: New Delhi confirms suspension of retail reform
India’s ruling Congress Party has today (7 December) confirmed that plans to allow more foreign investment in the country’s retail sector have been suspended.
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US: Wal-Mart launches corruption probe
Wal-Mart Stores has started a probe into bribery allegations in its operations outside the US after an internal investigation.
UK: Kraft shake-up to hit Cadbury jobs
Kraft Foods has announced a shake-up of its manufacturing network in the UK that will lead to the loss of around 200 jobs at UK confectioner Cadbury.
UK: Premier offloads Brookes Avana to 2 Sisters
Premier Foods plc is to sell its under-performing Brookes Avana subsidiary to 2 Sisters Food Group for GBP30m (US$46.8m).
Tesco’s update has international flavour
The UK retail giant discusses the impact of its Big Price Drop promotional campaign in the UK, the impact of the Thai floods on its business and why India needs to allow more foreign investment into its retail sector.
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By GlobalDataITALY: Strategy clash leads to Barilla MD exit
The MD of Italian pasta group Barilla has left his post over strategic differences with the three brothers who own the group.
Category crunch: Brazil’s biscuit market
PepsiCo has joined a fragmented market in which Nestle and Kraft Foods battle with local players like M. Dias Branco but the buoyant growth in recent years is showing signs of easing. How will Brazil’s biscuit manufacturers look to drive growth and gain share?
EUROPE: R&R Ice Cream secures Kraft licencing deal
Own-label ice cream manufacturer R&R Ice Cream is joining forces with Kraft Foods to launch new ice cream brands across mainland Europe.
IRELAND: Greencore takeover talks come to nothing
Talks over the sale of Greencore, the Ireland-based own-label food maker, have ended.
FRANCE: Carrefour confirms Guyenne et Gascogne talks
Carrefour today (8 December) confirmed it is in talks with franchise partner Guyenne et Gascogne, negotiations that could see the French retail giant buy a stake in the business.
