Breakfast briefing: Asda and Aldi battle, and retailers hit by PM's pay plan

Asda tries to block Aldi store in Newton Abbot

A supermarket battle is set to break out in Newton Abbot after Asda formally opposed Aldi's plans to open a new store on the edge of town, the Herald Express reported.

Aldi has submitted a multi-million-pound plan for a new store at the entrance to the Brunel Industrial Estate, potentially creating up to 50 jobs.

Asda, which already has a store in the town centre, has objected on the grounds that it is not in conformity with the local plan and that a new store on the site would have an adverse effect on Newton Abbot.

Theresa May's corporate pay policy puts spotlight on UK retailers

Prime Minister Theresa May's plans to expose the gap between the top and bottom rungs of the corporate ladder have left UK retailers nowhere to hide, Bloomberg reported.

May plans to make companies report the ratio of their CEO’s pay to that of their average worker.

This will put pressure on retailers. For example, Tesco CEO Dave Lewis earned £4.6 million last year – 321 times more than the supermarket’s average worker, according to corporate governance researcher Manifest.