Here’s how analysts are reacting to Reckitt Benckiser’s move to acquire Mead Johnson February 2, 2017 Just as analysts were digesting the news that Tesco and Booker Group are merging, Reckitt Beckiser (RB) has revealed that it is in talks to snap up US group Mead Johnson. The deal values Mead Johnson – which manufactures baby milk – at $16.7bn. Mike van Dulken of Accendo Markets said RB was making the move to access the [...]
Retailers’ share prices stung by the rise in the national living wage in the Autumn Statement November 23, 2016 Retailer's share prices are suffering this afternoon after chancellor Philip Hammond said the national living wage would rise in April next year. The national living wage hourly rate will increase from £7.20 an hour £7.50 an hour in 2017, Hammond said. Read more: The National Living Wage is going up again next April The change [...]
Big UK banks slip down in global ranking, but Metro and the challengers make ground July 3, 2017 Big UK banks are suffering compared with international rivals, according to a ranking of the world’s 1,000 largest lenders out today. HSBC remains Britain’s biggest bank in the global ranking, coming in ninth for the second year in a row. However, the lender – which topped the 2008 ranking – suffered its worst result in [...]
Supermarkets abandon more schemes as pressure mounts on Sainsbury’s, Morrisons, Asda and Tesco March 8, 2016 The number of developments ditched by Britain's supermarket titans has jumped since the first half of the year, with construction and planning applications also in decline, new research shows. Property advisory firm CBRE's latest analysis of the grocery property market shows that the number of abandoned schemes rose by 13.3 per cent in the second half of 2015. Proposed projects [...]
End of days: Waitrose is closing six of its stores February 9, 2017 Is this the end of the middle classes as we know them? Waitrose is planning to close six stores, putting 500 jobs at risks, it has been reported. The supermarket, beloved of the chattering classes, has begun consulting with staff at six locations in Hertford, Staines, Leek, Huntingdon, Cardiff and Palmers Green (although the latter [...]
Wetherspoon’s Tim Martin thinks that the falling pound will impact Eurozone businesses more than British companies November 2, 2016 Many of Britain's businesses may be feeling the pinch from sterling's recent malaise but the boss of one of Britain's largest pub chains doesn't think it will cause him too much pain. "The pound has gone up and down over the years and I haven’t noticed over the years a big effect on bar sales [...]
Regulators promise “once in a generation” changes to payment systems, bringing Britain’s banking into the 21st century November 29, 2016 The way businesses and consumers pay their bills is scheduled for the largest shake-up in decades under plans proposed by regulators. Three of the main retail payment systems – Bacs, Cheques and Credit Clearing Company and Faster Payments Service – are to be binned and replaced with what authorities hope is a clearer and more [...]
Greenergy in sale talks with Brookfield December 4, 2016 Fuel supplier Greenergy is in advanced talks to sell a stake to Canadian giant Brookfield. Greenergy, which claims to transport a quarter of the road fuel used in the UK at around 18bn litres each year, has been locked in negotiations with the infrastructure group for several months, it was first reported by Sky News. It’s [...]
Supermarkets are leading the FTSE 100 after Morrisons’ stellar results January 10, 2017 Supermarkets are leading the FTSE 100 risers today after positive data on the sector's sales over Christmas – and a strong update from Morrisons. Morrisons' share price was up 3.64 per cent at time of writing after the Bradford-based grocer reported a 2.9 per cent jump in like-for-like sales for the nine weeks to 1 [...]
Tesco angers investors as storm clouds gather January 27, 2016 Just two weeks ago, Tesco chief executive Dave Lewis was hailing a “strong Christmas” as evidence of the retail giant “making progress”. UK like-for-like sales had risen 1.3 per cent in the six weeks ending 9 January, and Lewis was particularly pleased with international growth. When good news is hard to come by, every little [...]