WHAT THE OTHER PAPERS SAY THIS MORNING August 5, 2012 FINANCIAL TIMES Greek bank head sent savings abroad A political row has erupted in Athens after the former head of a big Greek state bank admitted to transferring €8m (£6.4m) of personal savings abroad to buy a London property months before his Agricultural Bank headed towards insolvency. Theodoros Pantalakis, former chief executive of Greece’s Agricultural [...]
Supermarkets cut fuel prices as battle at the pumps intensifies June 11, 2012 SAINSBURY’S and Asda yesterday fired the latest salvo in a fuel price war among supermarket giants. A fall in global oil prices has triggered the price drops, which have seen the big four supermarkets – Tesco, Asda, Sainsbury’s and Morrisons – fight it out to offer the best deal. Asda said that from today it [...]
Supermarkets enjoy a rare lift during summer September 3, 2012 THE RETURN of the warmer summer weather together with the Olympics and the use of vouchers helped grocers enjoy their best trading performance of the year last month, in a rare bright spot amid the gloom across the rest of the retail industry. According to the latest figures from Nielsen, grocery sales in the four [...]
Budget grocers up market slice July 17, 2012 BUDGET supermarket chains Aldi and Lidl have raised their market share again, new figures showed yesterday. The latest Kantar Worldpanel survey revealed that Lidl and Aldi have 2.9 per cent each of the UK market, a record for the budget chains, which have been catching their rivals as austerity bites. Among the big four grocers, [...]
Weak rise in retail sales in July disappoints stores July 30, 2012 British retail sales rose in July more slowly than stores had expected, dented by unusually rainy weather, a survey by the Confederation of British Industry (CBI) has showed. The CBI distributive trades survey’s July sales balance fell to +11 from an 18-month high of +42 in June. Analysts had forecast a fall to +15. Economists [...]
Jubilee gives grocers £200m turnover boost June 19, 2012 BRITAIN’S grocery market grew 3.2 per cent in the 12 weeks to 10 June, boosted by an 11.3 per cent leap in the run-up to the Queen Elizabeth Diamond Jubilee celebrations, industry data revealed yesterday. Market researcher Kantar WorldPanel said supermarkets took an extra £213m in the tills in the week ending 3 June. “The [...]
Lloyds ploughs £20m into new restaurant fund September 3, 2012 LLOYDS Banking Group’s private equity arm said yesterday it has agreed to provide £20m for a new restaurant fund set up by the former boss of The Clapham House Group. Paul Campbell is setting up the fund through his vehicle Hill Capital in partnership with LDC to invest in restaurant businesses with a small number [...]
WHAT THE OTHER PAPERS SAY THIS MORNING July 8, 2012 FINANCIAL TIMES Call for French business boost French business urgently requires shock treatment to cut labour costs and boost its flagging ability to compete on international markets, top economists and business leaders have warned Francois Hollande. ArcelorMittal refuses to rule out EU steel closures as demand falls ArcelorMittal has refused to rule out further site [...]
CITY MOVES | WHO’S SWITCHING JOBS August 7, 2012 RBS John Owen has been appointed chief executive of the bank’s international banking business. He assumes the position following Scott Barton’s decision to leave RBS at the end of August. Owen joined the bank in 2011, and has also previously held senior management roles at Credit Suisse, UBS and Bank of America. Katten Muchin Rosenman [...]
Amazon keeps lion’s share of UK market July 23, 2012 ONLINE retail giant Amazon has built up its spot at the top of the UK entertainment market, largely at the expense of supermarket rivals and specialists like HMV, according to research published yesterday. Kantar Worldpanel figures for the 12 weeks to 10 June show that Amazon strengthened its market share by 3.2 percentage points, boosted [...]