Employees take Tesco to court over pay cuts October 16, 2016 Tesco employees are taking the retailer to court after it cut their pay. A group of 17 workers are fighting Tesco's decision to reduce their pay on weekends, bank holidays and evenings. Law firm Leigh Day has contacted Tesco to ask how many employees are affected, but have estimated that 50,000 staff face a pay cut. [...]
Solid fare expected from the UK’s listed supermarkets this week, including Tesco and Morrison’s, as a raft of retailers reveal their seasonal sales results January 8, 2017 The UK's three major listed supermarkets are expected to report solid Christmas trading this week, although investor focus will be on the outlook given this year's expected squeeze on consumer spending. On 10 January, Morrison's is expected to report underlying sales growth of 1.1 per cent for the nine weeks to 1 January according to [...]
Black Friday: Rumours, deals and speculation at retailers including Amazon, Argos and Tesco November 11, 2016 Ah, Black Friday. It may have started as an American tradition – but in recent years it's become more British than watching the Queen's speech while wearing a jauntily-angled Christmas cracker hat. This year, Black Friday falls on 25 November. But sharpen those elbows, people, because the Black Friday 'period' begins NEXT WEEK. Here's what retailers [...]
Now Tesco’s doing same-day click and collect in battle with Amazon August 25, 2016 Tesco's adding a new feature to its online shopping and letting customers order and pick up their items on the same day as it takes on AmazonFresh in the battle for grocery delivery market share. The same-day click and collect service will be available at 300 of Tesco's largest stores across the country in the wake of [...]
Here’s everything you need to know about the Tesco Bank fraud attack November 7, 2016 Tesco Bank has halted online payments as it deals with a massive fraud attack on its current account customers. The bank discovered a number of its customers' accounts had been subject to online criminal activity over the weekend. Here's what we know so far: Money was taken from 20,000 current accounts Tesco Bank's chief executive Benny [...]
Cabot Credit Management ditches £1bn float citing poor UK market conditions November 16, 2017 Cabot Credit Management, Britain’s biggest debt collector, abandoned plans to float yesterday, one in a series of ditched IPOs in recent months. In a statement, Cabot said that current conditions in the IPO market meant it would not be following through on the £1bn float. “The high level of engagement and interest that we received [...]
Tesco Bank halts online payments after thousands of customers affected by fraudsters November 7, 2016 Tesco Bank has halted online payments for its current account customers due to fraudulent activity over the weekend. The bank identified "suspicious activity" via its fraud prevention systems on Saturday and yesterday warned thousands of customers that they may have been targeted by fraudsters. Today, chief executive Benny Higgins said online transactions from current accounts had [...]
Sales at Tesco are growing at their fastest rate in three years – but Morrisons and Asda are still suffering November 15, 2016 The supertanker that is Tesco continues to change its course, after new figures suggested its sales rose to their highest in three years in the last quarter. Data by Kantar Worldpanel showed Tesco sales rose 2.2 per cent in the 12 weeks to 6 November, putting its market share at 28.2 per cent – up from [...]
BT pension deficit could reduce by £4.4bn as expectations of an interest rate hike mount October 23, 2017 BT’s troublesome pension black hole is set to reduce by billions of pounds as expectations of an interest rate rise mount, analysts said today. Previously, consensus opinion has been that BT’s retirement deficit would swell from £8.7bn to around £11bn. But in a report by RBC Capital Markets, analysts said BT’s shortfall could halve to [...]
Tesco and Unilever strike deal over Marmite price war October 13, 2016 It's over. After a day which divided a nation and saw (some) Britons head to their nearest supermarket to stock up on our favourite yeast-based love-it-or-hate-it spread, two of the biggest names in British retail laid down arms. Marmite-owner Unilever said this evening: Unilever is pleased to confirm that the supply situation with Tesco in the [...]