Tesco boss downplays double-digit food inflation warning over Iran war April 16, 2026 The boss of Tesco said he doesn’t “recognise” warnings that food inflation could soar to double digits this year due to supply chain chaos caused by the Iran war. Ken Murphy, chief executive of the supermarket giant, said he currently has no concerns over significant price inflation and “doesn’t know” whether this is coming down [...]
Tesco shares jump as profit surges despite Iran ‘uncertainty’ April 16, 2026 Tesco shares jumped in early deals this morning after the retailer reported a better-than-expected profit for the year to the end of February. The supermarket giant made an operating profit of over £3.1bn in the year to February 2026 compared to its own forecasts of between £2.9 and £3.1bn. The supermarket expects to make an [...]
FTSE 100 Live: Entain leads modest stock jump; Surprise growth ‘pushed to rear view’ April 16, 2026 Good morning and welcome back to the Morning Wire liveblog. Markets are betting the latest round of peace talks will bring some resolution to the conflict in the Middle East. US markets managed to clinch a record high close on the latest news of peace talks but in London the FTSE 100 splintered and finished [...]
Tesco nears crucial update as Iran war threatens food inflation April 15, 2026 As the bosses of the country’s biggest supermarkets crowded into the chancellor’s office earlier this month, no voice will have been as loud as that of Ken Murphy, chief executive of Tesco. Rachel Reeves summoned grocery executives to discuss how the Iran war will impact Brits’ weekly shops, and Tesco’s results tomorrow will pull back [...]
John Lewis boss takes 20 per cent pay rise as retailer cuts jobs April 9, 2026 The new chairman of John Lewis took a pay rise and bonus despite the retailer cutting thousands of jobs. Jason Tarry saw his basic pay rate increase by 21 per cent and took a two per cent bonus, despite his firm slashing more than 3,000 jobs last year. Tarry took the reins of the John [...]
Supermarket bosses meet Rachel Reeves amid dire food inflation warning April 1, 2026 The bosses of some of the UK’s biggest supermarkets met Chancellor Rachel Reeves in emergency cost of living talks on Wednesday, amid warnings that food inflation could rise to double digits this year. Leading supermarkets including Tesco, Sainsbury’s and Morrisons attended Downing Street after efforts to gather industry bosses last week were abandoned amid concerns [...]
Reeves must listen to supermarkets rather than lecture them April 1, 2026 Supermarkets begin preparing for Christmas at least six months before the anticipated peak of customer demand hits around December 23. Catering for this entirely predictable surge is in itself an astonishing commercial and logistical feat, but a little over six years ago the UK’s supermarkets were in the midst of an unprecedented challenge. As pandemic [...]
Reeves summons supermarket bosses again after snub March 31, 2026 Rachel Reeves has summoned supermarket bosses for a Downing Street meeting on Wednesday after being snubbed last week. The new meeting will be attended by executives at Sainsbury’s and Tesco but bosses at Asda, Aldi and John Lewis will miss out, supposedly due to diary clashes. The Chancellor hastily invited grocery executives to a meeting [...]
Tesco beats Clubcard copycats to claim loyalty scheme crown March 27, 2026 Tesco’s beloved Clubcard has triumphed against rivals Sainsbury’s and Greggs to be named the country’s most valued loyalty scheme. The supermarket giant’s Clubcard is the UK’s most effective, according to an index by software firm HyperFinity which polled Brits on the value, customer satisfaction and rewards offered by loyalty schemes at more than 50 retailers. [...]
Morning Wire Awards 2026: Meet the Finalists March 18, 2026 And the nominees are…. Personality of the Year Greg Jackson CBE The entrepreneur and CEO of Octopus Energy has become one of the UK’s most prominent business leaders, known for his straight talking and punchy views across a range of topics including UK entrepreneurship, the business environment, capital markets and, of course, energy. In August [...]