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...Royal Mail owner International Distributions Services has rejected a £4.5bn takeover approach by Czech billionaire Daniel Křetínský’s investment group, calling the timing of the bid “opportunistic”....
...CD&R, which owns UK supermarket chain Morrisons, raised $26bn for new deals last year....
...But it has also branched out into food manufacturing, recycling and IT services....
...Leahy said that in recent years CD&R had “never really been able to do a consumer deal”, adding: “They’ve all been retail deals and also we’ve never really done a leisure or consumer services deal.”...
...The so-called “Czech Sphinx” owns 50 per cent of Germany’s Metro supermarket chain and is also in negotiations to buy International Distributions Services, the parent company of the UK’s Royal Mail....
...Barclays has agreed to buy the bulk of Tesco’s banking business in a £600mn deal, as UK supermarket chains accelerate their retreat from an ill-fated expansion into financial services....
...The deal comes as Morrisons seeks to improve its sales performance under new chief executive Rami Baitiéh and service its £5.5bn net debt pile following sale-and-leaseback deals on some of its properties...
...Barclays has agreed to buy the bulk of Tesco’s banking business in a £600mn deal, as the UK’s supermarket chains continue their retreat from financial services....
...But there is a big difference between app stores and physical supermarkets: the latter must build and run stores and distribution hubs, employ checkout staff and shelf stackers, advertise widely and so on...
...One is that Apple blocks the distribution of some apps and services that might threaten its model....
...Even so, prices are higher than in large supermarkets, which partly reflects the logistical and staff costs of making everyday items available so near to homes....
...It points to the high price of smartphones, the grip Apple has over app distribution and lack of access it provides to the iPhone operating system....
...*Ignites is a news service published by FT Specialist for professionals working in the asset management industry. Trials and subscriptions are available at ignites.com....
...Financial services was actually kind of late to the party because there were rules against particular types of mergers....
...Factors driving the massive ETF growth include mutual-fund-to-ETF conversions, newer entrants to the ETF market and huge inflows to standalone funds, said Andrew Guillette, vice-president of global distribution...
...roll in London’s financial district, sales executive Emily Morgan was quick to explain why the “comforting” food-to-go retailer was her lunch venue of choice over the countless nearby sandwich, sushi and supermarket...
...From the UK selection, I’d pick out Bunzl, chiefly because of my colleague Oliver Ralph’s inclusion of the packaging and distribution business in his wry analysis of the “magnificently unglamorous” seven...
...One time, he bought a microwave curry from the vegan section of the supermarket Target, which contained ghee — a dairy product....
...“It’s got to be one of the deals of the decade,” said a large investor in both of the Silver Lake funds, who added that they were “excited about the cash distribution . . ....
...The UK’s largest DIY investment platform and so-called funds supermarket experienced outages as well as thousands of duplicated trades, leaving some accounts in debt and causing extreme stress to investors...
...News round-up Largest US supermarket deal caught in Biden antitrust crackdown (FT) Microsoft strikes deal with Mistral in push beyond OpenAI (FT) Lord Jacob Rothschild dies at age of 87 (FT) European...
...Patrick Orlando, the Miami-based businessman behind DWAC, recently sued the company, claiming he should receive a larger distribution of shares....
...China has also been creating an alternative to Big Tech’s data centres and cloud services....
...The leading streaming services aggressively raised prices in 2023....
...As you might expect, app-based services are already popular here in San Francisco....
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