UK retailer Sports Direct is interested to take over Game Digital, and Sir Phillip Green makes good with pensioners. Across the Atlantic, politician Bernie Sanders decries Walmart's low wages, and Amazon prepares for speedy drone deliveries. Meanwhile, Starbucks buys a major renewable energy portfolio. Read, share and have a great day.




Thursday, 06 June 2019





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UK retailer Sports Direct is interested to take over Game Digital, and Sir Phillip Green makes good with pensioners. Across the Atlantic, politician Bernie Sanders decries Walmart's low wages, and Amazon prepares for speedy drone deliveries. Meanwhile, Starbucks buys a major renewable energy portfolio. Read, share and have a great day.




Europe


Making offers ▪ Sports Direct has made a bid for embattled game store Game Digital. The UK sportswear company already owns about 30% of the retailer and is looking to purchase the remaining shares in an offer that would value the entertainment chain at GBP 51.88 million.



Pension support ▪ British multinational Arcadia Group has passed a checkpoint for its proposed CVA, with CEO Sir Phillip Green agreeing to put another GBP 25 million into pension funds. The added finance has now secured the support of pension regulators.



Pay boost ▪ Mike Coupe, CEO of Sainsbury's, has seen a 40% increase to his annual bonus this year, despite the collapse of the grocer's merger with Asda. Coupe however has had a 23% deferred share award decrease.



Developing properties ▪ A GBP 32 million retail centre has been greenlit for inner London. The site will include retail, as well as spaces for restaurants, leisure, and offices. A shopping park in Oxford is set to get a new Lidl. The discounter is moving in to replace space currently occupied by homeware brand Matalan.




The Americas


Fair distribution ▪ US democrat Bernie Sanders has rallied against Walmart for 'starvation wages.' Sanders has made a shareholder proposal, asking the world's largest retailer to raise wages to USD 15 per hour. Meanwhile, this could be the reason the likes of Walmart are prospering while other retailers struggle.



Flying deliveries ▪ Amazon's long awaited delivery drones, that will deliver packages straight to customer's doors, are set to arrive in a matter of months. The e-commerce giant has developed a new drone that is more stable than previous models. The company is also ready to welcome scrutiny from antitrust enforcers.



Accessible finance ▪ According to a new filing, Brazilian retailer Via Varejo has partnered with US start-up Airfox to launch a digital bank. The financial institution will focus on a lower demographic clientele, and will utilise Casas Bahia stores in order to have a physical presence.




Asia


Fresh approach ▪ Australian supermarket leader Woolworths is restructuring its fresh food services. The separate teams currently running the deli, seafood and butchery counters will be rolled into one, with staff trained to work all three areas.



Coffee time ▪ Upscale drinks store Whittard of Chelsea has moved into Taiwan following a partnership with finance company Ruentex Group. The UK based hot drinks retailer has plans for a further three store openings in the territory this year.




Environment conscious


Green purchases ▪ In a huge environmental effort Starbucks has signed off on a deal that will see it significantly increase its clean energy output over the next few years. The beverage major has bought a renewable energy portfolio that will ultimately provide power for the grids that feeds over 3,000 US Starbucks outlets.



Cheese dreams ▪ Spar Austria has expanded on its organic cheese range with the help of Austrian dairy Pötzelsberger. The organic business uses raw, locally sourced milk and old family recipes, and will be producing a variety of cheese for the retailer.