business news in context, analysis with attitude

  • UK retailer Sainsbury, acknowledging that it may shortly become a takeover target, has hired a team of investment bankers to defend it against unwanted advances – including some of the folks who helped Marks & Spencer do the same thing earlier this year. The Wall Street Journal reports this morning that this move by Sainsbury indicates that while it is obliged to consider any offer, it intends to remain independent.

  • UK regulators have approved the use by Wal-Mart’s Asda Group of an advertising claim saying that it is “Britain’s lowest-priced supermarket.” Tesco had challenged the use of the phrase, and said it would appeal the ruling.

  • In East St. Louis, unionized Schnucks employees are voting this week on a deal that reduce salaries at a single store that has been losing money for years and that was scheduled to be shut down – but that has received significant lease reductions as a way of insuring that the store stays open.

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