Sainsbury’s talks to sell Argos to Chinese retailer JD.com collapse

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Sainsbury’s hopes of offloading its retail business Argos to one of China’s biggest retailers have collapsed as talks ended on Sunday.The supermarket giant confirmed it was no longer in discussions with JD.com to sell Argos, the general merchandise arm it bought for more than £1bn less than a decade ago.On Saturday it had announced talks with JD.com for a sale that it said would speed up the transformation of Argos, whose business has gone increasingly online and within larger Sainsbury’s branches.

But 24 hours later, Sainsbury’s said the deal was off.It said: “JD.com has communicated that it would now only be prepared to engage on a materially revised set of terms and commitments which are not in the best interests of Sainsbury’s shareholders, colleagues and broader stakeholders.Accordingly, Sainsbury’s confirms that it has now terminated discussions with JD.com.

”JD.com, which is unrelated to JD Sports, is one of China’s biggest retailers and also provides its supply chain-based technology and services across other sectors.Last year, JD.com walked away from a deal to buy the UK white goods and electronics retailer Curry’s.Argos is the UK’s second largest general merchandise retailer, behind Tesco, with the third most visited retail website in the UK, according to Sainsbury’s.

It retains almost 200 standalone stores – with kiosks where customers used to peruse its famous catalogue – and more than 1,100 collection points, mostly in Sainsbury’s stores.Before the collapse, Sainsbury’s had talked up the potential deal as accelerating its turnaround of Argos, saying: “JD.com would bring world-class retail, technology and logistics expertise and invest to drive Argos’s growth and further transform the customer experience.”A sale would almost certainly have commanded a far lower figure than the £1.1bn Sainsbury’s paid in 2016 for Home Retail, the then owner of Argos.

Sainsbury’s latest accounts valued the chain at £344m, and the group said growth at the main supermarket business was weighed down by falling Argos profits.Some retail analysts have questioned the supermarket’s transplanting of the Argos operation into its stores.Hundreds of standalone Argos stores were closed as the business restructured and moved more to online shopping.Sign up to Business TodayGet set for the working day – we'll point you to all the business news and analysis you need every morningafter newsletter promotionIn 2023, Sainsbury’s closed down two Argos distribution centres and the business’s head office in Milton Keynes in a further attempt to cut costs.
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Helen Goh’s recipe for plum and star anise frangipane tart | The sweet spot

Late-season plums are wonderful to bake with; juicy and slightly astringent as you get closer to the skin, they soften into a rich, almost winey sweetness. And, when they’re nestled into soft almond cream and scented with star anise, they make a delicious tart for any time of day. Serve warm with pouring cream as pudding or cold with a cup of tea.Prep 15 minChill 1 hr 30 min Cook 1 hr 45 min Serves 8-10For the pastry 300g plain flour, plus extra for dusting 90g icing sugar ¼ tsp salt 200g cold unsalted butter, cut into cubes, plus an extra 10g, melted, for greasingFinely grated zest of 1 lemon 1 large egg yolk 20ml ice-cold waterFor the plums 4-5 medium plums (about 100g each), halved, stoned and sliced into 1cm-wide wedges1 tbsp caster sugar 3 whole star anise (about 3g), finely ground in a mortar to get 1½ tspFor the filling125g unsalted butter, at room temperature125g caster sugar Finely grated zest of 1 orange¼ tsp fine sea salt ½ tsp almond extract, or vanilla extract 2 eggs, at room temperature40g plain flour 125g ground almonds Icing sugar, to finishTo make the pastry, put the flour, icing sugar and salt in a food processor and pulse a few times to combine and aerate. Add the butter and lemon zest, then process to the consistency of fresh breadcrumbs

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Why Portuguese red blends fly off the shelves | Hannah Crosbie on drinks

It has come to my attention that I haven’t written a column dedicated to red wine in almost two months. So sue me – it’s been hot. Mercifully, though, temperatures look to be dropping soon, so we can once again cup the bowl of a wine glass without worrying about it getting a little warmer as its aromas unfasten.The Guardian’s journalism is independent. We will earn a commission if you buy something through an affiliate link

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Rachel Roddy’s recipe for fish baked with tomatoes, olives and capers | A kitchen in Rome

Al cartoccio is the Italian form of en papillote, meaning “contained” or “in paper”, which is an effective cooking method that traps the moisture (and flavour) released from the ingredients and creates a steamy poaching chamber – it’s a bit like a Turkish bath for food! Once out of the oven, but still sealed, the scented steam trapped in the paper returns to liquid and creates a brothy sauce. Fish with firm white or pink flesh that breaks into fat flakes is particularly well suited to cooking al cartoccio, both whole fish (cleaned and on the bone) and individual filets (estimate 110g-140g per person).When choosing fish, keep in mind our collective default to cod and haddock, both members of the so-called “big five” that make up a staggering 80% of UK consumption. Instead, look out for other species, such as hake, huss or North Sea plaice, ASC-certified Scottish salmon, sea trout or farmed rainbow trout. For more detailed and updated advice, the Marine Conservation Society produces an invaluable, area-by-area good fish guide that uses a five-tiered system to rank both “best choice” and “fish to avoid” based on the species, location and fishing method

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How to turn a single egg and rescued berries into a classic British dessert

Just a single egg white can be transformed into enough elegant meringue shards to crown more than four servings of pudding, as I discovered when, earlier this year, I was invited by Cole & Mason to come up with a recipe to mark London History Day and decided to do so by celebrating the opening of the Shard in 2012. Meringue shards make a lovely finishing touch to all kinds of desserts, from a rich trifle to an avant-garde pavlova or that timeless classic, the Eton mess. As for the leftover yolk, I have several recipes, including spaghetti carbonara (also featuring salt-cured egg yolks that make a wonderful alternative to parmesan) and brown banana curd.Architect Renzo Piano is said to have sketched his original idea for the Shard on the back of a restaurant napkin. Similarly, whenever I design a more conceptual dish such as this one, I love to start by drawing it in my sketchbook, to develop an idea of what the dish will look like, and while I was drawing the angular lines of the Shard, it reminded me of a minimalist dessert I’d eaten at the seminal AT restaurant in Paris that featured grey meringue shards that seemed to me to perfectly emulate the dramatic geometry of that iconic London building

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Cracker Barrel suspends remodeling plans after backlash over logo change

Cracker Barrel announced on Tuesday that it’s suspending plans to remodel its restaurants just weeks after reversing a logo change that ignited a political firestorm.The 56-year-old restaurant chain, known for southern-style cooking and country-store aesthetic, faced intense backlash last month after unveiling a rebranding effort aimed at modernizing its image. The company rolled out a new minimalist logo and plans for more contemporary interiors, and it updated menu items.The new logo replaced the brand’s image of an old man in overalls leaning against a wooden barrel with a simplified gold background and the words “Cracker Barrel” in minimalist lettering.The change was immediately met with intense outrage online from conservatives and far-right influencers who accused the company of going “woke”

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Australian supermarket sausage rolls taste test: from ‘perfect, flaky casing’ to ‘bland’ and ‘mushy’

With six friends and multiple kids in tow, Sarah Ayoub tests 10 brands of frozen sausage rolls to find the ones with crisp exteriors and convincingly meaty flavoursIf you value our independent journalism, we hope you’ll consider supporting us todayWith spring picnics and footy finals on the horizon, sausage rolls – one of the pinnacles of frozen celebration foods – are in order. But with up to a dozen varieties in your local supermarket freezer, it’s hard to make an informed choice.I rounded up six friends (plus a couple of kids) with discerning frozen-food palates: people who love a sausage roll and see it as a culinary staple, whether it comes from the servo or a bakery, and parents used to baking them in a pinch for dinner or for a crowd at birthday parties.We agreed that a good sausage roll is all about a flaky and crispy exterior; a soft, meaty interior; and a decent meat-to-pastry ratio. With those qualities in mind, we then set about taste-testing 10 varieties from Coles, Woolworths, Aldi and independent grocers