British Supermarket Chain in Marmite Battle
Brexit means no breakfast. With the pound plummeting, food supplier Unilever attempted to hike prices for grocery stores by about 10 percent. Now it’s locked in a standoff with national chain Tesco, which reportedly doesn’t want to eat the extra cost — and that means Tesco’s shelves are bare of brands Unilever supplies, including Marmite and Ben & Jerry’s. Tesco’s CEO, who worked at Unilever for decades, will now have to negotiate a truce — or raise prices for British consumers, who may see Brexit uncertainty drive prices up even further.