Top stories in the papers this week 30 January – 6 February 2012
Committee told washed diesel now sold at branded stations; Falling prices open door for a new grocery chain; Tesco market share drops below 30%
Print6 February 2012
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1. Committee told washed diesel now sold at branded stations
The Government has not grasped the enormity of the diesel laundering crisis, the Irish Petrol Retailers Association (IRPA) has told an Oireachtas Committee. The Irish Times reports the IRPA’s David Blevins stated washed diesel was previously only sold through unbranded filling stations but now it was being sold through branded outlets. There were even suggestions that criminal networks were setting up filling stations to sell this fuel.
2. Falling prices open door for a new grocery chain
With only three groups dominating the Irish grocery market and with substantially reduced property prices, now may prove an opportune time for a new overseas chain to enter the market. Larry Brennan, chairman of Savills Ireland, writing in the Irish Independent, claims that land prices have fallen by 80-90% depending on the zoning, location etc, while commercial property prices have fallen by an estimated 65%.
3. Tesco market share drops below 30%
Supermarket giant Tesco saw its share of the UK grocery market dip below 30% for the first time in nearly seven years as it struggled to compete with low-cost rivals, Kantar Worldpanel figures have revealed. The Irish Examiner reports the retail giant saw its share fall to 29.9% in the 12 weeks to Jan 12, and that the group admitted it had messed up its pricing strategy over Christmas; triggering an unprecedented slump in its share price.
4. Smuggled cigarettes blamed for job losses
At least 700 retail jobs were lost last year due to the continuing trade in illegal cigarettes, the Oireachtas Committee on Finance has heard. The Irish Times reports Benny Gilsenan of Retailers Against Smuggling said about €420 million was lost in excise duty and revenue to the State in 2010, and retailers lost €575 million in revenue. He proposed that a minimum fine of €10,000 be set to deter the illegal cigarettes trade.
5. Operation to ‘close Dublin’ will go ahead, say Donegal hauliers
Hauliers have announced they will go ahead with a blockade of Dublin on 20 February. The Donegal Daily reports the Irish Road Haulage Association (IRHA) has responded with "deep disappointment" to comments made to the Oireachtas Transport Committee that green diesel should be continued – and says it wants to “draw attention to the government’s willingness to fuel criminality and the resultant decimation of the haulage industry in Ireland".
Also:
Shell profits up 54% to £2m an hour (Guardian)
Food bound for landfill to feed Northern Ireland poor (Belfast Telegraph)
Four firms ‘going bust’ every day (Irish Times)
Retailers ‘drawn to illegal fuel trade’ (Irish Examiner)
Retail time machine is looking to the future (Irish Independent)
Tesco’s share of market drops to seven-year low (Belfast Telegraph)
Smuggled cigarettes costs state €420 (Irish Trucker)
Rates deal on empty shops to be offered (Belfast Telegraph)
Retail activity picking up on Camden Street (Irish Independent)
Drop in 2012 retail sales expected (Irish Examiner)
Tesco executive involved in shares sale moved to new post under group chief (Guardian)
Towns regeneration contest launched (Newsletter)
Slump sees ‘lipstick effect’ buying (Irish Independent)
Dunleavy’s XL Portsalon is XL Store of the Year (Donegal Democrat)
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