Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter.
Shares in J Sainsbury fell more than 5 per cent on Friday after the largest shareholder in the UK’s second-biggest supermarket chain sold nearly a third of its shares.
The Qatar Investment Authority sold about a third of its 14.2 per cent stake in the grocer in a private placing, according to messages sent by Goldman Sachs and seen by the Financial Times.
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The transaction, made late on Thursday, leaves the QIA with a stake of about 9.5 per cent, just behind the 10.1 per cent held by the investment vehicle of Czech businessman Daniel Křetínský. The messages showed that the QIA sold the shares at 280p, a price that would raise £306mn.
Neither Sainsbury’s nor the QIA immediately responded to requests for comment on the sale. Goldman Sachs declined to comment.
Sainsbury’s shares were down 16p — or 5.6 per cent — at noon in London, at 272p.
A person familiar with the QIA’s thinking described the sale as part of its “regular portfolio management” and said the authority was fully supportive of the supermarket group’s strategy and action plan.
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Sainsbury’s in February said it planned to cut annual costs by £1bn, launch a £200mn share buyback and embark on a “progressive dividend policy”.
Including Friday’s fall, Sainsbury’s shares are down 9 per cent so far this year amid concerns about the company’s ability to compete in an aggressively competitive UK retail environment. Sainsbury’s also owns the Tu clothing and Argos brands.
The QIA first bought a stake in Sainsbury’s in 2007, quickly building up to a 25 per cent holding. But it has been reducing this since 2021 when it sold a nearly 7 per cent stake in the grocer to Křetínský.
In a note to investors, analysts at JPMorgan said that “given the strategic nature” of the QIA’s stake, they did not expect the sale to be related to forthcoming UK events such as chancellor Rachel Reeve’s first Budget statement later this month.
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Křetínský is best known in the UK for his successful bid for International Distribution Services, parent of the Royal Mail postal service, agreed earlier this year.
Additional reporting by Laura Onitaand Ivan Levingston
ALDI has launched a new glow-in-the-dark wine just in time for Halloween – and shoppers can’t wait to get their hands on it.
The latest spooky Specialbuy is in-stores now for only £7.19.
Aldi has unveiled the limited-edition version of its already-popular Rebrobates Red Wine just in time for Halloween.
The Reprobates Ghouliburra Red has a new glow-in-the-dark label – perfect for any spooky party.
By day it may look like your average bottle of wine, but at night, a vibrant, glowing skeleton is visible – ready to light up the room.
According to the supermarket giant, the red wine is “a smooth, medium-bodied Australian blend” with red berry aromas, complemented by oaky vanilla and chocolate notes.
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And for those who are fans of the original Reprobates, Aldi has introduced a 1.5L box version – the equivalent of two bottles.
It’s priced at only £13.99 and is ideal for a Halloween party this year.
It comes as Aldi launched their “most divisive product of 2024” just in time for Halloween.
The supermarket uploaded a video showing off their new Monster Munch Mayo that has arrived in stores ahead of Halloween.
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The limited edition bottles of pickled onion-flavoured sauce is available to buy now and will set you back £1.99.
In a clip, an Aldi staff member said: “The most divisive product of 2024 has landed at Aldi.
Inside Arthur Gourounlian’s home
“We’ve got our new, scarily good Heinz Monster Munch Mayo.”
They then asked team members whether they were “Team Monster Munch Mayo or Team Absolutely No Wayo?”
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One said: “Pickled onion flavour is my favourite Munch Munch crisps, so I’m going to give this a go just because they’re my favourite crisps.”
Another said: “Oh, my God—10 out of 10. I need to try this!”
However, others weren’t as sold.
One said: “It’s an interesting concept, and I’d probably try it once, but maybe not again.”
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A second added:” I think I’ll stick with normal mayo.”
Aldi shoppers also took to the comments to share their views on the launch.
One said: “Has anyone tried this? I’m tempted but scared.”
And one wrote: “This sounds rank.”
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Some Aldi shoppers who had already tried it raved about the taste.
One commented: “Brought it today, was shocked, it’s tastes just like the crisps, will be great with chips or on a ham sarnie.”
And one agreed: “It’s absolutely lush.”
How to save on Halloween
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CUT-OUTS WON’T KEEP: Once carved, pumpkins last just three to five days before they start to rot. So wait until a day or two before Halloween to carve yours, to ensure you won’t have to buy a replacement.
CHILLING CARVINGS: Carve your pumpkin right first time. Download free templates from Hobbycraft to help ensure no slip-ups.
DEVILISHY CHEAP DECORATIONS: Create spooky spider webs using old string or rope.
PAY LESS FOR FACE PAINTS: Cut costs by using your old eyeliners and eyeshadows, and dab on some talc when you need a ghostly white shade.
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CUT-PRICE CANDY: Before you buy sweets to give out as treats, clear out your cupboards and see what you have. If you need more, shop bulk deals and compare the price per kilo before you buy.
PETRIFYING POT LUCK: Ask your guests to each bring a delicious themed dish to your party to keep hosting costs down.
SPINE-CHILLING TUNES: Turn to YouTube for a frighteningly good free playlist. There are dozens of channels with hour-long music mixes.
HOLD A SPOOKY SWISH: Swishing — or clothes-swapping with friends — is an easy way to get a new wardrobe. Hold a spooky swish before Halloween to trade costumes for kids and adults.
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FRIGHTENING FREEBIES: Sign up for a free local Halloween event. Check your local Nextdoor or Facebook pages, or search eventbrite.co.uk for ideas.
BLOODY GOOD DEAL: Don’t fork out for expensive fake blood. Make your own edible version instead. You can use it for cakes and to decorate costumes.
SHOP ON NOV 1: Be organised and bag the bargains for next year by hitting the shops the day after Halloween. Remember to buy your kids’ costumes a size larger to allow for growth.
Discussions about a London port expansion worth £1bn are ongoing as the government tries to resolve a row with the investor.
DP World planned to reveal the expansion of its London Gateway port, which it said would create hundreds of jobs, at the government’s investment summit next week.
However, reports suggested the plan was at risk after Transport Secretary Louise Haigh criticised P&O Ferries, which is part of DP World, for its treatment of staff.
Downing Street has now distanced itself from those comments as it tries to resolve the spat.
Are you a director of a Ltd company who is keen to save towards your retirement? Well, Self-Invested Personal Pensions (SIPPs) offer a variety of ways in which you can invest for later life. When considering long-term investments such as pensions savings, key considerations should include your needs, level of risk, accessibility of pension pots, fees involved, and how to withdraw your pension. Let’s explore the ins and outs of Pensionbee and Penfold which are popular SIPPs options available.
PensionBee
Penfold
Accessibility of accounts
Founded in 2014, it offers an easy and convenient way to set up a personal pension online and via an app that is very easy to navigate.
Ability to consolidate existing pension pots from other providers such as Aviva, NEST and Aon within minutes.
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User friendly interface that allows 24/7 access to your pension balance. You can change or cancel contributions at any time.
You will be assigned a personal account manager (BeeKeeper) who will provide ongoing customer support.
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Launched in 2019, it also offers a digital platform to set up and access personal pension plans.
The consolidation of old pension pots also supported.
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Ability to access, manage and track pensions with control over where your money is invested.
Offers the ability to change or pause contribution at any time.
Investment
Offers the flexibility to set up an account with no minimum cap to the initial investment.
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Flexible contributions – you have the ability to save any amount and whenever you like.
Wider range of investment options available but popular ones include:
Tracker (low cost), Tailored (default option) and Impact (ethical)
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Also offers the flexibility to set up accounts with just £1.
Range of payment options offered with no restrictions on amount or frequency of money paid in.
Fewer investment options but plans are tailored to personal circumstances of individuals. Popular plans include:
Lifetime, Standard and Sustainable (ethical)
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Fees
Annual fees generally start from 0.50% of your pension balance but can vary from 0.25% to 0.95% (depending on the chosen plan and amount of investment) with no hidden costs.
Annual fees are generally 0.75% for savings up to £100,000 but can range from 0.40% to 0.88% (depending on the plan chosen and the amount of investment)
Accessing your pension (pension drawdown)
Free withdrawal policy of 7-10 working days from age 55 (set to rise to age 57 from 2028). Lump sum, drawdown and annuity allowed.
Withdrawal requests are easy and straightforward and can be done online or via the app.
Free withdrawal in the form of a lump sum, drawdown or annuity
Withdrawal request includes no paperwork and can also be done online or via the app.
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Both Pensionbee and Penfold provide contemporary and efficient ways to access and engage with personal pensions. Despite the subtle differences between both providers, PensionBee has a higher overall customer rating and is more user friendly. But, whichever option you choose as your investment provider, bear in mind that pension investments fluctuate so your initial capital may be at risk of loss of value. The great news however, is that SIPPs attract a minimum of 25% government bonus on each contribution (depending on tax band) and they also offer generous tax savings – first 25% of your pension drawdown is tax free! Investments in Pensionbee and Penfold are also protected by the Financial Services Compensation Scheme (FSCS) so up to £85,000 of your investment is protected by the government in the event that these regulated financial providers fail.
In my working and writing life I inhabit two parallel worlds, one classical, one horticultural. At times they intersect, never more so than at the superb restoration in northern Greece of the palace of King Philip II of Macedon, father of Alexander the Great. At Aigai-Vergina, about 50 minutes’ drive from Thessaloniki, the huge new museum, the site’s second, and Philip’s restored palace have been hosting hundreds of thousands of visitors since their official inauguration on January 5.
When I first wrote about this palace in my 1973 book on Alexander, I remarked that its big central space was a garden, a mark of a civilised man. I was wrong. Its courtyard, now better understood, is a solid space that opens on to big rooms for drinking and partying. Plants and flowers feature differently, as I have just seen in person, in art that gardeners will recognise.
Inside Philip’s tomb, two wreaths were found, one of gold oak leaves and acorns for himself, and one of gold myrtle leaves and flowers for one of his wives
In 1973, I was right about one thing: the location of Aigai itself, the ceremonial centre of Philip and the Macedonian kings. I took a considered risk and set the opening chapter of my book on the hill at Vergina. All other books had located it 35 miles away on a very different site, Edessa, whose steep hillside has fine views and waterfalls but not a hint of a palace or royal tombs. At Vergina a huge man-made mound was visible and the ground plan of a big palace on the hill above it, known to archaeologists since the 1870s. Nonetheless, almost every scholar believed there were good reasons for denying that it was Aigai.
My hunch was confirmed in early November 1977 when the masterly archaeologist Manolis Andronicos amazed the world by discovering four tombs beneath Vergina’s mound. None came with an identifying label, but his cautious proposal that the unlooted one was the tomb of King Philip has withstood subsequent controversy and is, frankly, correct.
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In 1979, Andronicos invited me to visit his discoveries. He began by drawing back the black curtain with which he was protecting a fresco on the main tomb’s facade. It shows superb scenes of hunting: over the doorway a wreathed young figure on a prancing horse is about to throw his spear at a lion, while a separate group of young hunters around an older man on a white horse, attack it from the right. I was transfixed. The figures are not generic representations of a traditional kind. The older man is Philip and the young rider is Alexander. This contemporary portrait is the first to survive of the person on whom I had been working for years. The horse is his famed Bucephalas. Only when I regained composure did Andronicos tell me he had already reached that conclusion.
In the fresco, there is a leafless tree but no flowers. Inside another tomb, earlier than Philip’s, I then saw the wonderful fresco of young Persephone being seized by Hades, god of the Underworld. Beneath it there is a row of painted flowers, including stylised lilies: Persephone was seized while gathering flowers with her companions.
Inside Philip’s tomb, two stunning wreaths were found in gold caskets, one of gold oak leaves and acorns for himself, and an exquisite one of gold myrtle leaves and flowers for one of his wives. Myrtle was a fashionable choice. In 2017 another gold wreath of myrtle was returned to Greece by the Getty Museum in Los Angeles, as it had originated from an illegal excavation in Macedon. It is on display now in the archaeological museum in Thessaloniki. In honour of such wreaths I was already growing myrtle. At home it died in the 2022–23 winter, but in my Oxford college it survives: a pink myrtle from Paraguay (not the white one that Macedon’s jewellers portrayed).
In the palace’s grounds two huge oak trees still bear acorns, though neither existed in antiquity. Here, too, the important flowers are artistic, winding in a black and white pebbled mosaic that Macedonian guests, all men, would admire while drinking on couches around its edges. Lilies and the leaves of acanthus are mixed with curving stems and flowers, like the patterns of modern carpets. In each corner, flowers coil from the body of a lady, like a flowery spirit.
From the coins excavated in one of its rooms, this huge palace seemed to be dated to c. 270BC, about 65 years after Philip’s death. In 1988, however, a theatre was discovered on the hillside directly below it, dating to Philip’s reign — the very theatre in which he was murdered. Was the palace older than scholars thought?
After Andronicos’ death in 1992, one of his archaeological assistants, Angeliki Kottaridi, became director of the site. Brilliantly she has continued to increase the finds of royal tombs and transform their presentation to the public. It is she who designed and raised funding for the site’s two magnificent museums. In 2007, Kottaridi turned her eye and unstoppable energy to the palace, supported by funding from the EU. She and her team have achieved the near-impossible, re-erecting some of the pillars and transforming our knowledge of the building’s extent.
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In July 2007 she summoned me to visit her initial work. Its scale had seemed to date it to the grand years after Alexander’s conquest of Asia, and she explained to me that the coins originally used as evidence belonged to a later refurbishment of the room in which they were found. As the moon came up, we sat on the palace’s huge retaining wall, newly unearthed by her team. I congratulated her on work so far and urged her to conduct a deeper survey to find traces of Philip’s palace underneath. I blush, now, at my impertinence: “We have done such a survey,” she replied, “and there is no trace of a palace underneath. This is King Philip’s palace: you are sitting on its wall”.
I was stunned into silence. There were still scholars who argued that Philip’s Macedon was a simple tribal society and that grand monarchy began only when Alexander conquered Egypt and encountered its scale. In fact, he grew up in a building as big as Buckingham Palace. In 2003, I was the historical consultant for Oliver Stone’s epic movie Alexander, which showed a brilliant scene of partying in Philip’s palace, watched by his wife, played by Angelina Jolie, from a window above. Critics complained that Philip’s palace would never have had such a second floor. Kottaridi does not think that Philip used the palace as his personal house but she has proved it had an upper storey. She has even restored part of it.
The flowers and stems of the mosaic may have been designed by the master artist Pausias from Greek Sicyon, site of the earliest flower mosaic yet known. We can now see that it set a fashion. Flowery patterns appear in the margins of later mosaics at Pella, the Macedonian kings’ other residence, where small crocuses and large ones (colchicums to us) wind among lilies, acanthus, perhaps some narcissi and water lilies.
Elsewhere, finds of yet more tombs, built for grand Macedonians soon after Alexander’s death, have revealed painted flowers and stems too. No doubt real flowers were prominent in garlands at their lavish parties, well grasped by Hollywood designers, though lost to archaeologists. Philip, Alexander and their followers were conquering masters of the universe, but they liked flowers on their floors, wreaths and tombs. History and horticulture are not two separate subjects.
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THERE are more than 38 Haven holiday parks in the UK, which means it can be a struggling choosing between breaks.
However, Haven’s Hopton Holiday Park in Norfolk is routinely named the best Haven site in the country by visitors.
The Norfolk holiday park has a 4/5 star rating on TripAdvisor as well as more than 1,000 reviews rating it as excellent.
It also has a 4.5/5 star rating on Google from more than 2,700 reviews.
One person wrote: “One of the best Haven parks in the country”.
A second person added: “We’ve just got home from Hopton, and after holidaying in 12 other Haven sites, we have to say Hopton is one of the very best”.
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Read More on Holiday Parks
While a third person wrote: “Absolutely the best Haven site that we have visited, we come back most years and love it”.
The Hopton Holiday Park has direct access to its beach, which is one of its more well-loved features.
But as the weather worsens, the main indoor attraction is its indoor water complex.
There are two indoor pools at the holiday park, with one opening earlier this year and the other featuring a slide.
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The arcades are another indoor activity, giving the beachfront holiday park a truly seaside feel.
From skill games with tickets to redeem for fab prizes, to Virtual Reality games and of course, those much-loved 2p machines, there’s a little something for everyone.
Top Seashore Holiday Parks for Family Fun
If you don’t mind the outdoors, there’s also the mini aerial adventure where younger guests can swing and leap one metre off the ground on a harnessed course.
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There’s also a nine-hole golf course, an adventure golf course, a NERF Training Camp and a climbing wall.
Guests can also book onto archery lessons, with an outdoor inflatable arena set to reopen in March when the weather starts to warm.
On-site food choices include a family restaurant, Cook’s Fish & Chips, Bertie’s Ice Cream, A papa Johns and a mini market.
If you fancy going off-site, then it is a short drive away from Pettitts Animal Adventure Park, Pleasurewood Hills Theme Park and the Norfolk Broads.
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Hopton is one of the very best
Overnight guests can book to stay in either a caravan or a holiday lodge, with four-night caravan stays from £49.
Haven’s Hopton Holiday Park is a three-and-a-half-hour drive from Birmingham and it’s a two-hour drive from Cambridge.
She said: “Like most other Brits, I was surprised to hear that a well-paid footie star stayed at a Haven holiday park.
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“But the caravan was definitely celeb-worthy. There was a huge marble kitchen with all the mod cons, as well as a matching bathroom and en-suite.
“With hipster lighting, floor-to-ceiling windows and a 40-inch TV, it was nothing like the caravans of my childhood.”
What is it like to stay at a Haven park?
The Sun’s Dave Courtnadge recently visited a celeb-loved Haven park.
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Haven’s Allhallows, set on the Kent Coast, is popular with celebs including Stacey Soloman.
Like the former Loose Women star, we had booked a gold caravan with a view over the on-site lake and the Thames Estuary, with Southend on the distant horizon.
The roomy living area had two double sofas with wide doors that opened on to a veranda complete with table and chairs for al fresco dining.
Back indoors, the kitchen was fully kitted out with a large oven, dishwasher, microwave and even a washing machine.
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The kids charged into their room to fight over who would have which bed, while we took in our master bedroom, which featured an en suite and a walk-in wardrobe.
We used the revamped pool every day of our stay and it was lovely to watch the kids improve their swimming technique.
Then on top of all that there are arcades, fairground stalls, a climbing wall, fishing lake and a NERF Training Camp in an inflatable arena
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