Commercial news round-up: Monarch, Asda, chicken, Uber, Amazon and Apple
updated on 05 October 2017
Why commercial awareness? Why not! Start here with our carefully selected compilation of thought-provoking and conversation-starting business news:
- Monarch Airlines is no more – the company ceased trading and cancelled all flights on 2 October. Its administrator, KPMG, said that the collapse was a result of “depressed prices in the short-haul travel market”, as well as rising fuel prices and a weakened pound. The Civil Aviation Authority has chartered 34 planes to return Monarch passengers to the United Kingdom who are currently stranded overseas.
- Asda has dropped its petrol prices by 2p, with Sainsbury’s and Morrisons quickly following in its footsteps. Prices had reached a six-month high at £1.19, so consumers will be relieved to see some retailers dropping prices.
- In other supermarket news, Tesco is the one of the few big supermarkets holding out and not cutting ties with scandal-ridden chicken seller, 2 Sisters Food Group. The poultry purveyor was exposed by undercover footage as having very poor hygiene standards and many other dubious practices.
- Uber’s UK boss, Jo Bertram, has quit following the company’s fall from grace in the eyes of the TfL (and many others) and the non-renewal of its licence to operate in London. The company’s global big cheese, Dara Khosrowshahi, has arrived in London for crisis talks with TfL.
- Amazon and Apple are again under scrutiny for their tax practices, as the European Commission focuses in on their arrangements in, respectively, Luxembourg and Ireland.
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