(MENAFN- ProactiveInvestors)Asda has become the first supermarket to confirm that it will not take part in the controversial event 'Black Friday' this year despite being the first company to introduce it to the UK. The Walmart-owned store 'credited' with bringing the US tradition overseas has decided to end its participation in the day claiming 'shopper fatigue' has set in. Following a survey with customers the supermarket chain has decided to spend £26mln to reduce its prices throughout the season rather than on just the one day. Last year the company came under pressure for its poor handling of the event with videos surfacing of shoppers fighting in stores. Andy Clarke chief executive said: "Over the last two years we've developed an organised well-executed plan but this year customers have told us loud and clear that they don't want to be held hostage to a day or two of sales.' It appears Asda Price will be no different on November 27 Black Friday than on any other day. Elsewhere in the supermarket world business rates and the national living wage risk crushing Tesco (LON:TSCO) the supermarket's chief executive has warned. It turns out that although every little helps the extra costs could amount to a 'potentially lethal cocktail' for the supermarket. Chief executive Dave Lewis wants the government to meet with retailers in the hope of cutting business rates and tweak the minimum wage plans. Away from the grocers the Rugby World Cup and an uptick in viewers of Coronation Street and Emmerdale boosted advertising sales at ITV (LON:ITV). Advertising sales at the broadcaster rose 8% in the latest quarter ending September and are expected to climb around 5% for the full year. The Rugby World Cup held exclusively on ITV the beginning of this year's X-Factor and the final series of Downton Abbey all buoyed the company. It's been a trying time for ITV and despite the rugby lift the group's overall share of the TV audience fell 3% to 21.2% in the 10 months to October 31. In global news businesses in Myanmar are hoping for a complete end to sanctions with the National League for Democracy set for a sweeping victory in the country's first general election since 1990. Myanmar still known as Burma to many emerged four years ago from half a century of military dictatorship and held its first openly contested general election for five decades over the weekend. The expected victory for the party led by democracy icon Aung San Suu Kyi has sparked hopes that a permanent lifting of sanctions by the US could now be on the cards. In Europe Volkswagen is taking the first steps to redeem its tarnished reputation by offering US$1000 gift cards as a 'goodwill' gesture to US owners affected by the upcoming recall. The company has set up a webpage for customers to enter their number plates to see whether they qualify for the compensation. It is under the headline 'We're working to make things right' an understatement after the company was embroiled in one of the worst car scandals in history. Finally in the UK small cap space internet firm CentralNic (LON:CNIC) the company behind the .xyz domain name has become the first web domain wholesaler to sell 2mln new top-level domain (TLD) names. The firm is the top 'registry back-end' company with more than 2mln web pages registered representing 21.2% of the global market according to market data.
Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.