Tripple Treat

 

Mars will launch a new range of non-HFSS confectionery next month in the first major response to the new junk food laws by one of the big three confectionery giants. The Triple Treat range consists of new editions of Mars, Snickers, Bounty and Galaxy bars, and will launch exclusively in Tesco stores from the start of June. Each product is made of date paste, raisins and peanuts, and drizzled in chocolate. They will ring in at 80p per 40g bar, making them 57% more expensive than their traditional counterparts. By comparison, traditional Mars bars currently rsp at 65p for a 51g bar. The additional cost is due to the “very premium ingredients” such as roasted peanuts and dates, Mars UK GM Adam Grant told The Grocer. The launch will be accompanied by a £1m ad campaign from the start of June, he added. Other confectionery giants have so far been unable to launch new products that are compliant with HFSS rules. In 2019, Mondelez released Cadbury Dairy Milk 30% Less Sugar in an effort to become healthier, yet learnt that it fell foul of the HFSS rules when the criteria was confirmed two years later. Mars has developed its Triple Treat range over the past 18 months to ensure it can continue placing confectionery in prominent store locations once the new laws kick in from October.

Triple Treat

Luxury Leaky Umbrella

 

A parasol set to be sold in China by top western brands Gucci and Adidas for 11,100 yuan (£1,329) is causing an outcry for not keeping out the rain. Criticism of the item the firms call a "sun umbrella" has gone viral on the Chinese social media platform Weibo. It comes as Gucci's website says it is "not waterproof and is meant for sun protection or decorative use". The parasol is part of a joint collection that is being promoted online ahead of its release next month. A hashtag on Weibo which translates to "the collaboration umbrella being sold for 11,100 yuan is not waterproof," has so far had more than 140 million views. One user called the parasol "a very big but useless fashion statement". Others understood why the product may still be appealing. "Those who are willing to pay use luxury goods to show what they are worth," a user wrote. "They don't care about practicality." The parasol is set to be released on 7 June as part of a new collection by luxury brand Gucci and sportswear giant Adidas. China is a key market for leading luxury brands. Last year, sales of luxury goods rose by 36% in the world's second largest economy, according to consultancy Bain & Company. Bain also predicted that China will become the biggest luxury goods market within the next three years.

Luxury Umbrella

Iceland Over 60s Discount

Iceland is to launch a new discount for shoppers who are over 60, as soaring prices hit household budgets. The supermarket chain said it would offer over-60s 10% off every Tuesday to support its older customers through the cost of living crisis. The move comes as supermarkets battle for customers, with prices rising at their fastest rate for 40 years. Morrisons and Asda, which have been losing shoppers to discounters Aldi and Lidl, have already cut prices. Iceland's new discount will be launched from 24 May, with anyone aged 60 or over able to use it every Tuesday in-store at branches of Iceland and The Food Warehouse. Shoppers will need to show proof of age, such as a driving licence or senior bus or rail pass, and the discount will cover all products, with no minimum spend. Iceland said it was the first UK supermarket to introduce such a discount and decided to do so after research by Age UK found three-quarters of older people in the UK were worried about the rising cost of living. Research from Kantar suggests shoppers are turning to discount retailers as pressure on budgets grows, with Aldi the fastest growing supermarket at the beginning of this year, followed by Lidl.

Iceland Discount

iPod Discontinued

 

Apple has announced it is discontinuing its music player, the iPod Touch, bringing to an end a device widely praised for revolutionising how people listen to music. When the first iPod was launched in 2001, it could store 1,000 tracks. Today there are more than 90 million songs on Apple's streaming service. The iPod Touch was designed by the same team that later invented the iPhone, which quickly overshadowed the iPod. Apple last updated the iPod in 2019. There have been various iPod models over the years - including the Nano and Shuffle - but the iPod Touch, which was released in 2007 is the last model to be discontinued. iPod fans have taken to social media to share their thoughts on the news and their memories connected with the music devices. But tech analysist say it was inevitable the iPhone would one day replace the iPod.The iPod wasn't the first MP3 player on the market, just like the iPhone wasn't the first smartphone - but that unique Apple design proved to be the push digital music needed to start to tempt people away from CD and cassette players - and file-sharing.

iPod Discontinued

Apple Toppled

 

Apple has lost its position as the world's most valuable company amid a broad sell-off of technology stocks. Saudi Arabian oil and gas producer Aramco has reclaimed the top spot from the iPhone maker for the first time in almost two years. Investors have been selling shares in technology firms as they move into what they see as less risky assets. Shares in Apple fell by more than 5% in New York on Wednesday to end the trading day with a stock market valuation of $2.37 trillion (£1.94tn). That meant it lost its position as the most valuable company in the world to oil and gas producer Aramco, which was valued at $2.42tn. It is the first time that Aramco has held the top spot since 2020. Shares in energy producers have risen this year as the cost of crude oil and natural gas have gone up.

Apple Toppled

Charged for Refunds

 

Fashion giant Zara has become the latest retailer to charge shoppers who return items bought online. Customers now must pay £1.95 to return clothes, with the cost taken from their refund. Items bought online can still be returned for free in stores. High Street firms such as Uniqlo and Next already charge for online returns. Online shopping boomed in the pandemic, but customers are more likely to return items bought online than in store, raising costs for retailers. Online shopping rose strongly during the pandemic, but this has also meant a big increase in the number of items being sent back because they do not fit, or are not as expected. For fashion retailers, returns can be costly. Earlier this month, fast-fashion brand Boohoo said soaring returns were partly to blame for a slump in its annual profits. Zara's decision to stop free postal returns has been criticised by some customers online. Allowing free in-store returns may help drive people back into shops.

Refund Charge

McColl's Rescue Bid

 

Rival bidders Morrisons and the EG Group are in a last gasp race to buy the convenience chain McColl's. Morrisons' final last-minute offer came on Sunday. Administrators are set to be appointed for the business which has 1,100 stores. EG Group has been poised to buy McColl's but Morrisons tabled its 11th-hour improved offer on Sunday. Britain's fourth biggest supermarket chain is offering to take on all the stores and staff. Morrisons had already agreed to take on McColl's debts, but it is now understood to be willing to pay McColl's lenders in full, straightaway, matching a similar pledge thought to have been made by EG Group. Morrisons is McColl's key wholesale supplier. It has also formed a tie-up with the chain to convert hundreds of McColl's shops to Morrisons Daily convenience stores. There are more than 200 now and these have been performing well. McColl's employs around 16,000 staff across the chain but only around 2,000 are in the two defined benefit pension schemes that are at risk. The convenience store sector as a whole has done relatively well during the pandemic, as people shopped closer to home. However, McColl's has run into difficulties as it attempted to update the range of food it sold, a process made harder by Covid-related supply chain problems.

McColls

Brewdog Giveaway

 

Brewdog boss James Watt has set out plans to give away nearly a fifth of his equity stake to the firm's staff. Mr Watt owns a quarter of the fast-growing Aberdeenshire-based beer maker. Brewery and pub workers have criticised him over his behaviour and pressure on them to grow the firm rapidly. At least partly in response, Mr Watt has set out an incentive plan which also means half of its pub profits will go to those who work on hourly rates in its 111 bars worldwide. Based on last year's figures, that could mean an annual bonus of between £3,000 and £5,000 each, in cash payouts made twice a year. The chief executive claimed the giveaway of shares could be worth £120,000 for each Brewdog salaried staffer, comprising four annual tranches starting this June. James Watt currently holds 24.2% of the company, and the plan unveiled on Monday - to mark 15 years since it started brewing - is for him to give away 5% to an Employee Benefit Trust, reducing his stake to 19.2%. He said Brewdog wanted to be a "new type of business", and that shared ownership would help with recruitment, retention and team engagement. "We want our team members to act as business owners and incentivise them as if they are business owners," he added.

BrewDog

EasyJet Cut Seats

EasyJet plans to remove seats on some of its planes this summer, so that it can operate flights with fewer cabin crew. The airline is battling staff shortages as it attempts to return to pre-pandemic levels of service. By taking out the back row of seating on its A319 fleet, EasyJet said it will be able to fly with three cabin crew instead of four. That would limit numbers on board to a maximum 150 passengers. EasyJet said it was an effective way of operating the fleet while "building additional resilience and flexibility" into the airline's operations. Airlines and airports in the UK have been struggling with staff shortages since Easter, as demand for travel has taken off again, following the removal of all remaining UK Covid travel restrictions. EasyJet and BA were forced to cut hundreds of flights last month as levels of the virus surged, keeping staff off work, and making it hard to maintain full schedules. EasyJet said it had looked at a range of measures to strengthen its operational resilience. As well as the scheme to remove seats the company will also put more resources into processing the accreditation of new staff.

EasyJet Seats Cut

Elon Musk Buys Twitter

The board of Twitter has agreed to a $44bn (£34.5bn) takeover offer from the billionaire Elon Musk. Mr Musk, who made the shock bid less than two weeks ago, said Twitter had "tremendous potential" that he would unlock. He also called for a series of changes from relaxing its content restrictions to eradicating fake accounts. The firm initially rebuffed Mr Musk's bid, but it will now ask shareholders to vote to approve the deal. Mr Musk is the world's richest person, according to Forbes magazine, with an estimated net worth of $273.6bn mostly due to his shareholding in electric vehicle maker Tesla which he runs. He also leads the aerospace firm SpaceX. As part of the takeover, which is expected to close later this year, Twitter's shares will be delisted and it will be taken private. Mr Musk has suggested this will give him freedom to make the changes he wants to the business. Among other ideas, he has suggested allowing longer posts and introducing the ability to edit them after they have been published.

Musk Buys Twitter

Snapchat selfie drone

 

A flying camera is the latest release from Snap, the company best known for its photo-sharing app Snapchat. The little yellow drone, called Pixy, is described by the company as a "free-flying sidekick" which can help people take selfies without a selfie stick. The gadget is available in France and the US, where the laws are more lenient around the use of drones than the UK. The Pixy operates on its own, taking video as it flies, which is then wirelessly transferred and saved in the app. At the end of the flight, the selfie drone lands in the palm of your hand. Although Snapchat does not receive the same level of attention as other social media networks such as Facebook or Twitter, it remains hugely popular. Snapchat has 300 million daily active users around the world, according to the company. It also claims to reach more than 75% of those aged 13-34 in more than 20 countries. The launch of Pixy comes as Meta opens its first hardware shop to show off devices from Facebook and other big tech companies.

Pixy

Kellogg's Take Government to Court

Food giant Kellogg's is taking the government to court over new rules that would prevent some cereals being prominently displayed in stores because of their high sugar content. Kellogg's says the rules fail to consider the nutritional value of the milk added to the product. The company says independent market data shows cereals are eaten with milk or yoghurt in 92% of cases. Under the new regulations for England, which come into force from October, retailer promotions on food and drink high in fat, salt or sugar will be restricted. Products covered by the restrictions will also not be allowed to be featured in key locations such as checkouts, store entrances, aisle ends and their online equivalents. Popular brands such as Crunchy Nut Corn Flakes and Fruit and Fibre are classified as foods that are high in fat, sugar or salt in their dry form and so retailers may be prevented from displaying such products in prominent positions, harming sales. Including added milk would change the calculation by reducing the proportion of sugar and salt content relative to the weight of the overall serving. In a statement, Kellogg's said it had "tried to have a reasonable conversation with government" over the issue without success - hence their legal challenge.

Kelloggs Court