Aviva's £3.7 Billion Direct Line Deal Gets UK Regulator's Nod
The Competition and Markets Authority said in a statement that it has decided, on the information currently available to it, not to refer the above merger to a phase 2 investigation. The text of its decision will be made available as soon as is reasonably practicable, the CMA said.
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Urgent works green-lit for 'at-risk' former cinema
Work is to begin on essential repairs to a Grade II listed former cinema and bingo hall built in Art Deco style. Rotherham Council has awarded a contractor £451,000 to carry out repairs to the town centre's former Mecca Bingo building, which opened as the Regal Cinema in 1934. It has stood empty since Mecca Bingo closed during the Covid pandemic, but a council report said doing nothing was "not an option" given the state of the building and the council's legal responsibilities as its owner. A council report said: "Enabling works are required within the building to ensure that the building remains safe, secure and compliant while a review of future use is undertaken." Council officials confirmed F Parkinson Ltd had a contract to carry out urgent works to make the building safe, secure and legally compliant, while further feasibility studies into its long-term use were carried out. According to the Local Democracy Reporting Service, the building has been at the centre of debate over redevelopment, with previous plans to demolish it for flats sparking public outcry. A previous planning application to demolish the cinema and replace it with 45 apartments and retail units was met with strong resistance and halted after campaigners succeeded in securing Grade II listed status for the building. Richard Gray of the Cinema Theatre Association, which led the listing bid, said it was "a major part of Rotherham's heritage" and praised its Art Deco design and history. The former cinema, which once seated 1,850 people, has seen several changes over the decades. According to Historic England, the cinema closed in September 1983 and remained empty until May 1989 when it reopened as Ritz Bingo. From 2004 it was operated by Mecca and then put up for sale by auction in February 2020 but failed to sell. The council acquired the building in late 2022 through its regeneration arm, Rotherham Investment and Development Office. Last year the former cinema on Corporation Street was added to the council's at-risk register in fair (Category C) condition. While no firm decision has been made on the building's future, the enabling works are intended to keep options open for possible reuse. No timeline has been given for when a final decision would be made about the building's long-term future. Listen to highlights from South Yorkshire on BBC Sounds, catch up with the latest episode of Look North Cinema among 'at-risk' sites, says council Local Democracy Reporting Service
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an hour ago
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The latest transfer news and rumours plus Women's EURO build-up
Stay up to date with the latest transfer news and Women's EUROs reaction and build-up. 2025-07-06T09:14:22Z Meanwhile across north London, Arsenal are set to face fresh competition in their bid to land Real Madrid star Rodrygo. You can read all about it here. Advertisement 2025-07-06T09:04:08Z Kicking things off in Serie A, where Juventus are aiming to follow up Jonathan David's arrival with a pursuit of a Premier League mainstay 2025-07-06T09:01:32Z Hello and welcome to our daily transfer live blog. As ever, we'll be bringing you the latest news, rumours and deals from across the market throughout the day.
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Asda employs ‘art of war' against Heinz and Nestle
Asda is pressuring suppliers including Heinz, Nestle and General Mills to lower prices as it battles to win back customers. The struggling supermarket is locked in talks with some of its biggest partners as they resist pressure for aggressive cuts. Asda is calling on suppliers to 'share the load' in its price war, which is aimed at reviving its flagging sales. Meetings are set to be held in the coming weeks in an effort to broker agreements with holds-outs, which grocery sources said includes some of the biggest names in the food industry. Asda has re-hired retail veteran Darren Blackhurst as its chief commercial officer to spearhead the negotiations. Mr Blackhurst, who spent four years in the same role between 2006 and 2010, has been tasked with rallying suppliers that have so far refused to concede. His approach to suppliers has been described by former colleagues as 'the art of war'. An Asda source said: 'A lot of suppliers have been supportive. Others are more reluctant. It is about sharing the load. Some just haven't broken out of the four-week [temporary discount] promotion cycle.' By increasing pressure on suppliers, the supermarket hopes to strengthen its price war against the likes of Tesco and Sainsbury's. Allan Leighton, Asda's chairman, wants his supermarket to be at least 10pc cheaper than rivals under its 'rollback' price-cutting plan. However, some of the UK's biggest food producers have so far been reluctant to support the retailer as its sales continue to decline. Despite Mr Leighton's ambitious price-cutting efforts since taking over in November, Asda's market share has fallen from 12.5pc to 11.9pc, according to Kantar. Sales volumes have also been shrinking. Figures from NIQ seen by The Telegraph show that spending on groceries was down 4.6pc in the four weeks to May 17, compared to a 4pc decline over the year as a whole. An industry source said: 'The idea behind 'rollback' is that you get the volume moving first, and then you get suppliers to invest further. 'But what's happened is that Asda has invested in rollback, and the volumes haven't come through. The suppliers are holding back investment because they aren't getting the guaranteed volumes they will need. 'There has to be something in it for them. If they are putting their money into Tesco and Sainsbury's, then they are getting a return. If they are putting their money into Asda, then there is no guaranteed return. It is high risk.' The supermarket has argued that sales have turned a corner in recent weeks and bosses are hopeful that Mr Blackhurst can accelerate growth by getting more suppliers to lower prices. 'For creating chaos, he's great,' said a former colleague. 'We all know what Darren's box of tricks is, and that's bringing out the art of war.' His impending arrival this month has already sparked concerns among some brands. The boss of one Asda supplier said: 'What we have spotted is that the buyers are not talking to anyone unless it is about money. 'We are just keeping our heads down because we fear that when the phone rings, that is what it's going to be about. The general background feeling is that it's desperate times, desperate measures, because they're a business in trouble.' Asda has also been dramatically reducing its range in recent months in an effort to drive higher sales volumes for items that remain. Mr Leighton said in March: 'It's pretty basic stuff, but it's there to grow the business, so what I'm saying is it's good for suppliers because they will get more volume.' The fight to win over suppliers is crucial if Asda is to have any hope of restoring market share, which has been in freefall ever since the business was bought by TDR Capital and the Issa brothers for £6.8bn in 2021. Mr Leighton said recent price cuts had helped Asda open up a price gap with its competitors, which helped the business record its strongest sales performance in a year. 'What we're looking at here is the business turning,' he said in May. An Asda spokesman said: 'The material investment we are making this year to lower prices has already made a difference by opening up a 3pc-6pc price gap over other traditional full-service supermarkets.' Broaden your horizons with award-winning British journalism. Try The Telegraph free for 1 month with unlimited access to our award-winning website, exclusive app, money-saving offers and more.
