business news in context, analysis with attitude

• In the UK, the Telegraph reports that Tesco is promoting the equivalent of $300 million (US) in new price cuts “on a wide range of products, including fruit and vegetables, bread, meat and medicines.” According to the story, “Richard Brasher, who takes over as the chief executive of Tesco's UK arm this week, said that the money-back pledge and price cuts are being introduced to help shoppers struggling with tighter household budgets.”

The move also is likely to continue to inflame the British grocery price wars.

• The San Diego Reader reports that the United Food and Commercial Workers (UFCW) has been organizing pickets at Fresh & Easy Neighborhood Markets there, saying on its website that “"They're not picketing only the fact that the stores' workers are not unionized, but that the company is not locally owned. Fresh & Easy is owned by British grocer Tesco,” and is “siphoning money out of our community.”
KC's View:
I guess they didn’t get the “globalization,” “world-is-flat” memo...