Tesco v Unilever: What the analysts are saying about #Marmitegate October 13, 2016 As Brits try not to panic in the face of (probably) rapidly depleting Marmite stocks at Tesco, analysts have warned that Brexit-induced inflation is looming ever closer. Tesco's share price dropped by 2.2 per cent in early trading today, after it was revealed the supermarket is in a dispute with consumer goods producer Unilever over pricing. The [...]
Marmite peace settlement sends Tesco to the top of the FTSE 100 October 14, 2016 Good news about the black stuff has sent the FTSE 100 climbing higher in this morning's trading. Or, to be more precise, good news about the black stuffs. Because while the price of a barrel of Brent Crude oil rose 0.8 per cent to $52.42 this morning, and metals also headed north – good news for [...]
Increased profits on the cards at Tesco but pension headache persists October 2, 2016 Tesco is expected to report on Wednesday that it has grown half-year profits but its steady resurgence could be undermined by a spiralling pension scheme deficit. Analysts expect a rise in underlying sales for the third quarter in a row and half-year profits could be as much as £624m – dwarfing the £354m generated in the same period last year. [...]
National Crime Agency launches criminal investigation over Tesco Bank fraud attack November 8, 2016 The National Crime Agency (NCA) has launched a criminal investigation into the recent fraud attack on Tesco Bank. The National Cyber Security Centre (NCSC) said it was working with the NCA and Tesco Bank, as well as other groups, and said it was "providing direct assistance to the company at their request, including on-site assistance". Tesco Bank uncovered [...]
Andrew Tyrie on Tesco Bank fraud attack: “We can’t carry on like this.” November 7, 2016 A senior MP today slammed banks' IT systems in the wake of a fraudulent attack on Tesco Bank current accounts over the weekend. Money was taken from around 20,000 Tesco accounts, the bank confirmed today, in an attack that was discovered on Saturday. Customers have been unable to make transactions online as a result of [...]
MPs grill City watchdog chief as Tesco Bank and RBS fallout rocks the sector November 8, 2016 Talk about bad timing: The City watchdog boss has today faced a grilling from the influential Treasury Select Committee as the banking industry is still reeling from a hectic few days. Andrew Bailey, chief executive of the Financial Conduct Authority, appeared before the MPs as customers at challenger Tesco Bank await to hear how bad the weekend's [...]
Tesco has unveiled its Black Friday 2016 deals: Laptops and tablets and bikes, oh my November 24, 2016 The supermarkets may be suffering from competition from discounters, but on Black Friday that all goes out of the window as they come over all Aldi and go berserk for deals. Tesco is no exception – it's so keen it's already launched some deals. Check out the best ones for Black Friday itself. Read more: [...]
After the hype, this year’s retail extravaganza of Black Friday was a short-lived frenzy November 27, 2017 Just three years ago Black Friday became synonymous with images of customers fighting over heavily discounted goods. The ugly scenes accompanied reports of police and ambulance services being called to stores across the UK, with several people injured in the melees. Fast forward to 2017 and the madness turned to mirth over the weekend as [...]
Analysts applaud Dave Lewis’ efforts to turn around Tesco October 5, 2016 Tesco posted a 0.6 per cent increase in UK like-for-like sales this morning and analysts have been reacting well to chief executive Dave Lewis' efforts to revive the embattled retailer. And the market seems to agree with them, with the retailer's share price jumping nine per cent in early morning trading. Lewis has been managing [...]
Tesco Bank fraud tars UK financial image, warns home secretary Amber Rudd November 10, 2016 Scandals like the recent cyber attack on Tesco Bank risk damaging the UK's prized financial reputation, the home secretary has warned today. Speaking at a conference hosted by the Financial Conduct Authority (FCA), Amber Rudd cautioned that public confidence in financial institutions was rocked when such incidences occurred and the government saw cyber crime as a [...]