Former Tesco asset Blinkbox Music goes into administration less than six months after sale June 11, 2015 Blinkbox Music, the music streaming service sold off by Tesco in its asset fire sale, has gone into administration less than six months into its new ownership. Australian firm Guvera, which bought the company in January for significantly less than the £10m the supermarket paid to acquire it back in 2012, attempted to sell Blinkbox [...]
Sainsbury’s share price falls despite posting a sales rise in the fourth quarter as deadline looms for Argos bid March 15, 2016 Sainsbury's is continuing to prove itself the strongest of the big four supermarkets, with total and like-for-like sales up in the fourth quarter as it moves to phase out multi-buy offers entirely. But the business has warned of ongoing challenges in the market as the price wars continue. The figures Total retail sales excluding fuel [...]
Warnings over number of interest-only mortgages maturing in 2016 as wave hits April 25, 2016 Up to 20,000 interest-only mortgage holders across the country could be without plans to repay their home loans when they mature this year. As many as 40,000 interest-only mortgages are set to be called in during 2016, kicking off a new wave of maturities expected to run until 2020. The high level of mortgages reaching maturity has sparked [...]
Tritax Big Box sets its sights on Tesco real estate with £47m bid June 1, 2015 Real estate management firm Tritax Big Box confirmed it will acquire Tesco’s regional distribution centre at Capitol Park in Goole for £47m yesterday. The deal, which has been funded through equity proceeds, will see Tritax take over the site which has a 17.5 year unexpired lease and is expected to yield a 5.67 per cent [...]
Fruit juices, drinks and smoothies might not be one of your “five a day” according to new sugar study March 24, 2016 Just a few weeks after it was revealed how much sugar was lurking in your Starbucks coffee drinks and a fortnight since George Osborne announced a sugar tax on soft drinks, it seems fruit juice could be another villain too. The authors of a new study have even gone so far as to suggest that [...]
FTSE 100 index opens lower as oil prices continue to drag on investor sentiment February 3, 2016 The FTSE 100 index opened lower this morning as oil prices dragged down investor sentiment (again). The UK's blue-chip index opened 0.57 per cent down at 5,889 points, led lower by Hargreaves Lansdown and Barclays. "This fresh bout of oil price weakness appears to have been driven by the very same concerns that drove the decline in [...]
More needs to be done for mums to go to Iceland March 16, 2016 As the challenger discount supermarkets continue to expand their market share, more established rivals are reacting in differing ways in their attempts to recoup lost ground. Iceland, known for its inexpensive frozen produce, has been trying to reposition itself. By improving the quality of its offering, it is aiming to broaden its appeal in the [...]
More changes on the Tesco board as Ken Hanna and Stuart Chambers quit May 5, 2015 It's all-change at Tesco at the moment: following the appointment of Dave Lewis as chief executive and John Allan as chairman, two of the supermarket's non-executive directors have decided to step down. More on this story: Is Sainsbury's about to have its Tesco moment? Ken Hanna and Stuart Chambers, who have served on the board for [...]
Tesco boss Dave Lewis tackles food waste: Unsold food given to charities in new scheme June 4, 2015 Tesco boss Dave Lewis is taking steps to reduce food waste at the supermarket. New figures reveal the company has thrown away 55,400 tonnes of food over the past year, as he announced plans to give away unsold food that is still edible to charities, helping the homeless and other vulnerable groups. "No one wants to [...]
Dave Lewis admits long road ahead for Tesco recovery April 22, 2015 Tesco boss Dave Lewis admitted yesterday that he faced a larger task than expected turning around the struggling supermarket giant, as it reported the worst results in its 96-year history. Lewis – known as “Drastic Dave” for his radical overhaul of businesses at Unilever and now at Tesco – acknowledged that the task of turning [...]