The Co-op will start selling food past its "best before" date for just 10p as it looks to tackle the issue of food waste.Read the full story ›
Richard Lancaster, chief executive of Co-op Funeralcare, said: "We hope others will now extend their own policies on child funeral costs".Read the full story ›
The Co-operative Bank posted an annual loss of £610 million, more than double the figure the previous year.
It follows misconduct costs and the sale of riskier assets in an attempt to return the bank back to health.
The Co-op was pulled from the brink of collapse in 2013 after a £1.5 billion capital black hole was uncovered.
Chief Executive Niall Booker said the bank's future looked in good shape, despite expecting more losses next year.
Shoppers in Shropshire have been left feeling ill after they bought Co-op doughnuts that had been accidentally tainted by cleaning fluid.
The company has apologised for what it called "an isolated issue", after disinfectant was left for too long on baking trays which were then used to cook the snacks.
A spokesperson for the Co-operative Food said: "We are committed to offering consistently high quality products and service and, we are sorry that this product fell short of those expectations.
"The matter has been thoroughly investigated and an isolated issue regarding the correct cleaning process for our oven trays was identified. This has now been addressed.”
Paul McGreary, Shropshire Council’s head of business support and regulatory services, confirmed that the Council was looking into the incident.
He said: “Shropshire Council is investigating this case, and that investigation is ongoing; therefore, we can’t comment any further.”
Hundreds of thousands of Co-op customers may have been charged double when using their cards to pay in the food stores or petrol stations.Read the full story ›
The Co-Operative Group has returned to profit after a troubled period which nearly saw the collapse of its banking arm.
The mutual posted the £216 million net profit for 2014, but warned its members will not receive dividend payments until 2018.
It followed a loss of £2.3 billion, prompting a rescue plan which saw the group sell its farms and pharmacy operations.
The mutual would have at best broken even without the sales, chief executive Richard Pennycook said, adding that the rescue phase is now over.
The hard work of rebuilding the Co-operative Group for the next generation, and restoring it to its rightful place at the heart of communities up and down the UK, is now under way.
The vote on a radical shake-up of the way Co-operative group is run is "a momentous and defining moment" for the group, Co-op chair Ursula Lidbetter said.
These reforms represent the final crucial step in delivering the change necessary to return the group to health. This will strengthen the society and enable us to move forward with the urgent work to rebuild the business and deliver on our renewed purpose, in the interests of all our colleagues and our millions of members and customers.
The changes to the group's governance were backed by its members following a landmark vote.
A radical shake-up of the way the Co-operative group is run has been approved by its members.
At a special general meeting in Manchester, the crisis-hit company said 83% of votes were cast in favour of proposals drawn up in the wake of last year when the group racked up £2.5 billion losses.
The plans include reform of the food-to-funerals group's board structure, with elected directors - including the likes of a plasterer, engineer and retired deputy head teacher - largely replaced by professional business people.
The new governance structure includes the creation of a smaller board of directors and a move to a one-member one-vote system.
Interim chief executive Richard Pennycook said approval of the governance changes will mark the end of the rescue phase of the group following recent progress in shoring up its balance sheet.
These governance reforms represent the final crucial step in delivering the necessary change to restore the group and return it to health.
The Co-op is to recruit a smaller board of 11 directors with "high standards of competence" as part of radical governance reforms. The mutual will also establish a 100-member council to act as guardian of the group's values and to hold the board to account.
The changes are based on the four-point resolution proposed by Lord Myners and voted on by members at the special meeting in May.
Other changes include a move to one-member-one-vote on significant matters such as the election of directors and major transactions.
The Co-op, which last year racked up a £2.5 billion loss following the worst period in its 150-year history, said the reforms will be put to a vote at a special general meeting on 30th August.