Pay pressures and the productivity gap

Article Abstract:

Tight profit margins combined with rising interest rates are causing many UK farmers to experience financial difficulties, and banks are worried about loan security and the need to assert control over agricultural assets. Banks' securities typically are in the form of agricultural charges which are regarded as floating charges until they are crystallized into fixed charges. Banks confronted with farmers who have over-extended their credit should not appoint receives because there are considerable costs connected with running farms. Instead, banks should make individual arrangements with farmers' creditors while converting floating charges into fixed ones so that banks will prevail over other creditors. Voluntary arrangements have the advantage of creating order among creditors who might be contemplating actions against farmers.

Economic aspects, Wages, Wages and salaries, Great Britain

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Talking shop

Article Abstract:

Tesco has overtaken J Sainsbury PLC as the UK's largest grocer in 1995 and as the biggest UK-based retailer based on domestic and international sales in May 1998. Both of these companies are reluctant to discuss the causes of this change in market leadership, but analysts believe that Tesco has shot to the top because of its flexible store formats, number and geographic dispersion of stores, good management, and ongoing innovation. An analysis of the measures implemented by the two retailing giants in recent years shows that Tesco has been the innovator while Sainsbury the follower. For instance, Sainsbury launched its Reward Card 18 months after Tesco introduced its Clubcard, and is now moving away from the large store formats after seeing the success of its rival's range of store formats.

Supermarkets and Other Grocery (except Convenience) Stores, Grocery stores, Supermarkets, Retail industry, Retail trade, Tesco PLC, Market share, J Sainsbury PLC

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