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The Latest Breaking News from Mohsin Issa

Asda boss says £100m hit from Labour budget could affect wages and hiring

Shares in UK retailers fall as investors digest Rachel Reeves’s changes to NICs and tax thresholds

The Guardian - UK

Asda pays the price for big debt and turmoil in the boardroom

With its shelves emptying and its billionaire owners in retreat, the struggling retailer has had to call in its veteran chair as chief executive

The Guardian - UK

Stuart Rose gets hands-on at Asda. This can’t have been plan A

Awkward interregnum in which former M&S boss is taking charge sums up chaotic progress since purchase from Walmart

The Guardian - UK

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Former M&S boss Stuart Rose to run struggling Asda as co-owner steps back

Lord Rose is chair of supermarket and will take over day-to-day duties from Mohsin Issa

The Guardian - UK

Asda owners under pressure as chain’s share of market hits ‘new nadir’

Sales fell 6.4% in the three months to 10 August as chain becomes the only one of the big four to see sales drop

The Guardian - UK

Union calls for urgent action to protect jobs as Asda ‘fights for survival’

GMB accuses owner TDR Capital of mismanagement as sales at supermarket fall 6%

The Guardian - UK

Asda-owning Issa brothers divide their empire as Zuber sells supermarket stake

Union warns of risks to shoppers and staff after sale of younger brother’s 22.5% stake to private equity co-owner TDR Capital

The Guardian - UK

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End of Issa brothers' close partnership as Zuber Issa exits Asda, quits as EG Group Co-CEO

The brothers had jointly built up a retail and petrol forecourt empire over years

Evening Standard

The UK’s most expensive supermarket petrol revealed

The RAC analysis found that across all UK forecourts, the average price of petrol fell by 2.4p per litre last month to 147.9

The Independent UK

Asda now the most expensive UK supermarket to buy fuel, study shows

Chain once prided itself on selling the cheapest fuel but RAC analysis shows it is now the dearest

The Guardian - UK

Issa brothers net worth: Are the Asda owning duo really billionaires?

According to the Sunday Times Rich List, Mohsin and Zuber Issa are worth £5 billion, but Bloomberg gives a much lower wealth estimate

Evening Standard

Asda refinances £3.2 billion debt at higher interest rates

The supermarket is aiming to put its finances on a stronger footing after the billionaire Issa brothers and private equity firm TDR’s debt-fuelled acquisition

Evening Standard

Asda boss claims owners 'in it for long-run' amid billionaire Issas' rift

Reports last week said Zuber Issa is seeking to sell his 22.5% stake in Asda to private equity firm TDR Capital,

Evening Standard

Billionaire Issa brother nears deal to sell Asda stake to TDR Capital

Zuber Issa began talks earlier this year about selling his stake in Asda, and plans to step back as co-chief executive officer of EG Group

Evening Standard

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The Guardian - UK

Asda owners used petrol forecourt firm to repay private jet loans

Billionaire Issa brothers borrowed $7m from EG Group in 2022 to repay debt taken on to buy jets

The Guardian - UK

Issa brother ‘eyes sale’ of Asda stake to focus on petrol station business

Zuber Issa reportedly in talks to offload 22.5% share of supermarket in parting of ways with co-owner brother

Evening Standard

Mohsin Issa confirms relationship with ex-EY tax partner after Asda auditor resignation

The pair noted that Price was not an audit partner at EY and didn't work on the Asda business

The Guardian - UK

Asda owner faces rise in servicing £4bn debt, MPs told

Group faces £30m rise in debt costs, Asda bosses tell MPs on business and trade committee

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Evening Standard

Asda execs to hand over secret offshore accounts after MPs question 'Phantom' investment firms

Asda execs have committed to sharing secret accounts for the offshore companies that own the supermarket after coming under pressure from MPs.

Evening Standard

Issa brothers in £500 billion accounting error

The Issa brothers’ debt levels have been a hot topic in the business press for some time. But Spy was taken aback to find out just how steep they are.

Evening Standard

Billionaire Issa brother warned of ‘contempt of Parliament’ after Standard finds errors in Asda letter to MPs

Mohsin Issa has until Thursday to respond to further questions from MPs

Evening Standard

Billionaire Issa brothers admit errors in letter to MPs on Asda offshore ownership

The billionaire Issa brothers have admitted submitting error-strewn evidence to MPs about the complex offshore ownership structure known as ‘Bellis’ that they created for Asda after acquiring the supermarket in 2021.

The Guardian - UK

MPs question Asda about ability to meet cost of living pressures

Supermarket co-owner Mohsin Issa asked to detail corporate structure as well as profit margins on petrol

The Guardian - UK

Asda’s profit margins at the pump have trebled, MPs told

Competition regulator tells business committee of ‘significant change’ in retailer’s fuel pricing

The Independent UK

Asda’s fuel margin targets were three times the 2019 level by 2023, MPs told

Asda told the CMA that it decided to pass down retail price falls in 2022 more slowly in areas where it had no direct competition, MPs were told.

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