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: 295.40
Bid: 295.70
Ask: 295.90
Change: -1.50 (-0.51%)
Spread: 0.20 (0.068%)
Open: 297.30
High: 297.90
Low: 291.80
Prev. Close: 296.90
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.

“The 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
21 Aug 2023 00:00

Food tech company ENOUGH raises 40 million euros

New fundraising led by World Fund and CPT Capital

*

Read more
18 Aug 2023 11:18

Temple Bar laments "miserly" UK valuations but promises long-term wins

(Alliance News) - Temple Bar Investment Trust PLC on Friday said its net asset value saw a moderate half-year increase, and that its "fundamentally sound" portfolio will eventually bear fruit despite the tough backdrop.

Read more
18 Aug 2023 08:21

British consumers curb their shopping in rainy July

Retail sales -1.2% m/m in July vs Reuters poll -0.5%

*

Read more
17 Aug 2023 14:00

Sustainable Switch: H&M investigates Myanmar factories

Aug 17 - By Sharon Kimathi Energy and ESG Editor, Reuters Digital sharon.kimathi@thomsonreuters.com

Hello!

Read more
16 Aug 2023 16:55

LONDON MARKET CLOSE: FTSE falls on rate fears and niggling China worry

(Alliance News) - Stock prices in London closed lower on Wednesday, with interest rate-sensitive stocks on the back foot, as a robust core inflation reading poured cold water on hope of a Bank of England pause.

Read more
16 Aug 2023 14:19

H&M probes alleged Myanmar factory abuses as pressure intensifies

Cases of worker abuses at garment factories soar -report

*

Read more
16 Aug 2023 12:01

LONDON MARKET MIDDAY: Stocks down; UK inflation cools in July

(Alliance News) - Stock prices in London were lower at midday on Wednesday, as investors digest some mixed inflation figures and the impact they will have on the Bank of England's next move.

Read more
16 Aug 2023 09:29

LONDON BROKER RATINGS: RBC cuts Antofagasta; Shore likes Trainline

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

Read more
16 Aug 2023 08:55

H&M probes Myanmar factory abuses as pressure intensifies

Cases of worker abuses at garment factories soar -report

*

Read more
16 Aug 2023 06:00

H&M probes Myanmar factory abuses as pressure intensifies

Cases of worker abuses at garment factories soar -report

*

Read more
15 Aug 2023 17:29

Sweden, UK lead European shares lower on rate-hike fears

China-exposed firms drop after weak economic data

*

Read more
15 Aug 2023 17:21

FTSE 100 hits one-month low as record UK wage growth drives pound higher

UK basic wage growth hits record

*

Read more
15 Aug 2023 16:56

LONDON MARKET CLOSE: Stocks slump on darkening China outlook

(Alliance News) - European equities suffered on Tuesday as poor data out of China compounded growth worries for the world's second-largest economy, while a red-hot UK wage inflation reading put the Bank of England under the spotlight.

Read more
15 Aug 2023 11:56

LONDON MARKET MIDDAY: FTSE 100 down as wage growth sparks rate fears

(Alliance News) - Stock prices in London were lower at midday on Tuesday, as wage growth fuelled talks of the Bank of England's next move.

Read more
15 Aug 2023 09:01

LONDON MARKET OPEN: Financials lead decline in FTSE 100; M&S jumps

(Alliance News) - Stock prices in London opened firmly in the red on Tuesday, following a mixed UK jobs print, and the latest stream of weak data from China.

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.