Monday 30 April 2018

Sainsbury’s has confirmed plans to merge with Asda. The deal
would result in a new grocery superpower that would take nearly £1
in every £3 spent on groceries on the high street. However, The
Guardian says the merger would create “huge” competition concerns,
effectively creating a duopoly, as the enlarged Sainsbury’s and
Tesco would control nearly 60% of the grocery retail market.

Avengers: Infinity War made a record $630m (£457m) global
opening weekend take, according to an industry tracker. If the
figures from Exhibitor Relations are confirmed, the superhero
sequel would overtake The Fate of the Furious’s $542m global
opening weekend haul, a record set in 2017. Directed by brothers
Joe and Anthony Russo, the film cost between $300m and $400m to
make.

T-Mobile and Sprint have agreed a deal that will unite the US’s
third and fourth largest carriers. The Financial Times says the
agreement would value the combined company at $146bn, including
debt, and comes “after years of courtship”. The new company will
have more than 127m wireless subscribers. It will be led by
T-Mobile chief executive John Legere and take the T-Mobile
name.

Muslims are increasingly being targeted by supermarkets in the
UK, with the Ramadan economy in the UK estimated to be worth at
least £200m. Leading chains including Tesco, Sainsbury’s and Asda
are gearing products, displays and special offers on popular food
items to the festival. “Following only Christmas and Easter in
scale and size, this is surely Britain’s biggest untapped business
opportunity,” says writer Shelina Janmohamed.

Labour has vowed that it would place a cap on the amount anyone
could pay in bank overdraft fees or interest repayments. Announcing
the policy, which could help 2.7m people who are stuck with
permanent overdrafts, shadow chancellor John McDonnell said he
wanted to end the “national scandal” of low paid families trapped
in debt. The Tories say they have already tightened rules.

“If this deal happens, it means the top two supermarkets in the
country will have 60 per cent of the market. How can that be in the
interest of consumers? The marketplace will be completely
redefined.” Rivals tell The Times they are not impressed with
the Sainsbury’s and Asda tie-up.

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