Cobus Loots, CEO of Pan African Resources, on delivering sector-leading returns for shareholders. Watch the video here.

Less Ads, More Data, More Tools Register for FREE

Pin to quick picksMarks & Spencer Share News (MKS)

Share Price Information for Marks & Spencer (MKS)

London Stock Exchange
Share Price is delayed by 15 minutes
Get Live Data
Share Price: 276.30
Bid: 276.20
Ask: 276.40
Change: -0.50 (-0.18%)
Spread: 0.20 (0.072%)
Open: 276.70
High: 277.50
Low: 274.70
Prev. Close: 276.80
MKS Live PriceLast checked at -

Watchlists are a member only feature

Login to your account

Alerts are a premium feature

Login to your account

UPDATE 1-UK supermarkets want 'urgent intervention' to ensure supplies to Northern Ireland

Wed, 13th Jan 2021 11:28

* Three month grace period to adapt systems ends March 31

* UK supermarkets say current proposals "unworkable"

* UK supermarkets say long term solution needed before March
31

* Says disruption inevitable if solution not found
(Adds detail, government response)

By James Davey

LONDON, Jan 13 (Reuters) - Britain's major supermarkets have
warned the government that "urgent intervention" is needed to
prevent significant disruption to Northern Ireland food supplies
in the coming months.

Britain is no longer part of the European Union's single
market and customs union, but Northern Ireland has a foot in
both camps – part of the UK's customs territory but also still
aligned with the EU's single market for goods.

Britain and the EU agreed in December that supermarkets
selling into Northern Ireland would have a three-month grace
period to adapt their supply systems to the post-Brexit trading
reality.

Despite that some supermarkets in Northern Ireland have had
shortages of fresh goods usually imported from Britain since the
turn of the year because they have struggled to shift to new
processes and bureaucratic procedures.

The bosses of retailers, including Tesco,
Sainsbury's, Asda and Marks & Spencer,
have written to Cabinet Office minister Michael Gove, warning
the situation could worsen.

In the letter, seen by Reuters, they said it was essential a
long-term solution is agreed with the EU before the current
grace period for simplified controls ends on March 31.

"All our businesses and suppliers have invested
significantly in the last few months to avoid disruption but
that will become inevitable if the proposals governing movement
of food from Great Britain to Northern Ireland are adopted," it
said.

"We recognise the European Commission needs to see increased
compliance to support the concessions it granted through the
Northern Ireland protocol but the current proposals, increased
bureaucracy and certification in such a short timescale, are
unworkable."

The CEOs called on Gove to create a dedicated working group
to co-ordinate government agencies to integrate customs and food
controls, and to use the supermarket groups' experts to develop
the best solution.

And they want the government to agree with the EU that more
time is required to implement a new system.

"It also requires an open discussion with the EU explaining
why we can't accommodate changes to the current approach to
transporting food to Northern Ireland but stressing we are
working towards a robust system as quickly as possible," the
letter said.

A British government spokeswoman said a new dedicated team
had already been set up and would be working with supermarkets,
the food industry and the Northern Ireland Executive to develop
ways to streamline the movement of goods in accordance with the
Protocol.

β€œThe grace period for supermarkets and their suppliers is
working well, goods continue to flow effectively between Great
Britain and Northern Ireland and we are working intensively with
industry as new requirements come in," she said.
(Reporting by James Davey; additional reporting by Liz Piper,
Editing by Nick Macfie and Jane Merriman)

More News
13 Sep 2023 07:48

LONDON BRIEFING: St James's Place appoints new chief Mark FitzPatrick

(Alliance News) - Stocks are called to open lower on Wednesday, as traders remain cautious ahead of a highly awaited US inflation report.

Read more
12 Sep 2023 08:46

TOP NEWS: UK grocery price inflation cools to lowest level in a year

(Alliance News) - Annual grocery price inflation in the UK decelerated to 12.2% in the four weeks that ended September 3, from 12.7% a month before, according to survey data from Kantar on Tuesday.

Read more
11 Sep 2023 06:56

UK retailers warn chancellor against GBP400m business rates hike

(Alliance News) - Bosses of a raft of Britain's biggest retailers, such as Tesco PLC, Marks & Spencer Group PLC and Kingfisher PLC's B&Q, have urged Chancellor Jeremy Hunt to freeze their property taxes to avoid a roughly GBP400 million hike.

Read more
6 Sep 2023 09:32

LONDON BROKER RATINGS: Shore says 'buy' B&M; Peel Hunt likes Halfords

(Alliance News) - The following London-listed shares received analyst recommendations Wednesday morning:

Read more
6 Sep 2023 09:02

LONDON MARKET OPEN: Stocks fall amid high oil prices

(Alliance News) - Stock prices in London opened lower on Wednesday, as high oil prices gave rise to fears of renewed inflationary pressures and interest rate hikes.

Read more
31 Aug 2023 17:02

Miners drag FTSE 100 lower to snap 6-day winning streak

Glencore among top losers on FTSE 100

*

Read more
31 Aug 2023 16:50

LONDON MARKET CLOSE: FTSE 100 down amid stubborn US inflation

(Alliance News) - Stock prices in London closed mixed on Thursday, after news that a key US inflation reading came in in line with market expectations.

Read more
31 Aug 2023 12:00

LONDON MARKET MIDDAY: FTSE 100 edges lower ahead of US inflation print

(Alliance News) - The FTSE 100 tipped into the red at midday on Thursday as investors nervously awaited the latest print of the US Federal Reserve's preferred inflationary gauge, the personal consumption expenditures index.

Read more
31 Aug 2023 07:49

LONDON BRIEFING: Stocks seen higher; Grafton begins another buyback

(Alliance News) - Stocks in London are set to open higher on Thursday as market focus turns to inflation and whether it is cooling enough to justify a pause in September from the European Central Bank and the US Federal Reserve.

Read more
30 Aug 2023 17:55

TOP NEWS: M&S returns to FTSE 100 after four years, Persimmon exits

(Alliance News) - FTSE Russell confirmed on Wednesday that the following changes will take effect to its UK indices from the market open on Monday, September 18, after completing its quarterly review.

Read more
29 Aug 2023 17:00

Miners, homebuilders boost FTSE 100 to 2-weeks high

FTSE 100 hits 2-week high

*

Read more
29 Aug 2023 09:27

LONDON BROKER RATINGS: UBS cuts HSBC; Barclays cuts SDCL Energy

(Alliance News) - The following London-listed shares received analyst recommendations Tuesday morning:

Read more
23 Aug 2023 10:24

Britain's Ocado Retail and Sainsbury's cut prices again

Ocado Retail cuts prices of 200 products

*

Read more
23 Aug 2023 08:54

LONDON MARKET OPEN: Stocks rise ahead of Jackson Hole, Nvidia results

(Alliance News) - Stock prices in London opened higher on Wednesday, as the mood in European markets continued to improve.

Read more
23 Aug 2023 07:09

Dechra, Hikma, M&S and Diploma set to join FTSE 100

MILAN, Aug 23 (Reuters) - Drugmakers Dechra and Hikma, along with retailer Marks & Spencer and technical products provider Diploma are set to join the UK's blue-chip FTSE 100 index in September, indicative changes announced by FTSE Russell show.

Read more

Login to your account

Don't have an account? Click here to register.

Quickpicks are a member only feature

Login to your account

Don't have an account? Click here to register.