Sunday newspaper round-up: Ukraine ceasefire, Morrisons, Labour

18th Aug 2024 21:39

(Sharecast News) - Moscow has postponed landmark negotiations with Kyiv that might have resulted in a partial ceasefire between the two countries. The two sides had agreed to send delegations to Doha for indirect talks aimed at stopping attacks on energy infrastructure. But the 6 August incursion into Russian territory by Ukraine's troops has been labelled as an escalation and led Moscow to postpone the talks. Some officials had hoped that the negotiations might mark a first step towards a deal to end the war. Nonetheless, Moscow had yet to call off the talks entirely and Kyiv had said that the summit would still go ahead on 22 August via video. - The Sunday Telegraph

Senior management are rushing out the door at Morrisons and Asda is cutting back on long-term investments in an attempt to correct problems on the shop floor, as turmoil engulfs the private equity-owned grocers. Seven senior directors at Morrisons walked out during the summer. That takes the tally of the top 60 staff who have left since Rami Baitieh took over the reins last November to nearly a third with the vast majority of those having been resignations. Since its 2022 takeover by Clayton, Dubilier & Rice, Morrisons is also understood to have lost 23% of its customers while being saddled with £4bn of debts. - The Sunday Times

John Neill, one of the country's most respected industrialists, has warned Labour not to return to the bad old days of the 1970s, when unions went rampant and wealth taxes were high. A return to the union disputes that prevailed when he was starting his career would be a disaster, he said. Fears were that Labour was losing control after rail unions unveiled fresh strikes despite being made an offer for a big pay hike. Wealth taxes meanwhile would be drive talent away and hurt the economy. - The Financial Mail on Sunday

Owners of holiday properties across the UK were seeing a significant drop in bookings as early as spring as a result of the cost of living crisis, poor weather and a market that was becoming more saturated by the day. So much so that some owners had decided to sell their holiday cottages. One owner said that 2024 had been the worst year since 2024. Other owners said that businesses who had not invested and which hadn't gotten nicer would struggle, while some luxury property owners reported a roaring season. - Guardian