Tourism stocks tumble in the wake of the Jakarta attacks as the share prices of EasyJet, InterContinental Hotels, Tui and IAG fall January 14, 2016 The FTSE 100 index traded lower this morning as attacks in the Indonesian capital weighed on tourism stocks. This morning a series of bomb blasts hit Jakarta, the Indonesian capital, followed by gunfire, reported to have killed at least seven people. In the aftermath of the blasts, Jakarta police spokesman Muhammad Iqbal said five attackers and two other [...]
Tesco turmoil proves toxic for the FTSE 100 – London Report April 22, 2015 TESCO’S massive loss dragged the FTSE 100 down yesterday. It was also hampered by heavy declines in banking stocks. Shares in Tesco closed down 5.2 per cent, at the bottom of the FTSE 100, after the UK’s biggest retailer plunged to an annual loss of £6.4bn and failed to provide details about the planned disposal [...]
Supermarket bosses have nowhere to hide January 13, 2016 Who said there’s blood on the high street? Retail stocks rose well into green territory yesterday, Morrisons up nine per cent and Debenhams a whopping 16 per cent higher, after both reported a jump in like-for-like sales. Defying City expectations, the pair of troubled FTSE-250 outlets remind us that retail should not be viewed as an [...]
Tesco shareholders encouraged to revolt at AGM over Dave Lewis’ pay, Philip Clarke’s golden goodbye and John Allan’s appointment as chairman June 23, 2015 Tesco shareholders are being encouraged to stage a revolt at the supermarket's AGM on Friday, with investor group Pirc advising they vote against key resolutions. Chief executive Dave Lewis' pay could come under particular scrutiny if Pensions and Investment Research Consultants – one of the largest investor groups in the UK – gets its [...]
Tesco share price edges down as shareholder group ramps up legal battle for “substantial” compensation May 28, 2015 A group of Tesco shareholders seeking compensation from the supermarket claim the troubled supermarket "committed serious violations" by overstating its profits. Tesco Shareholder Claims Limited (TSC), which launched proceedings in March this year, argues there is a “strong case” and that the ultimate claim will be “substantial”. Back in September, the supermarket's incoming boss Dave Lewis [...]
Former Tesco chief executive Philip Clarke was paid £764,000 by the supermarket last year May 21, 2015 Ousted Tesco chief executive Philip Clarke, who had presided over a fall of nearly 30 per cent in Tesco's share price during his three years at the helm of the supermarket, was paid £764,000 by the supermarket last year. Tesco's annual report, published this morning, showed that although he stepped down in September last year, [...]
Record grocery deflation hurts sales at Tesco, Asda and Morrisons and Sainsbury’s May 6, 2015 All four of Britain’s major supermarkets saw sales fall over the last 12 weeks, while the discounters continued to slow, as grocery price deflation reached another record low, figures released yesterday show. Sainsbury’s was the strongest performer among the big four despite a 0.2 per cent fall in sales thanks to its increased focus on [...]
Tesco paves way for Dunnhumby sale with end to exclusive Kroger deal April 27, 2015 Tesco has taken a major step forward in paving the way for a sale of its lucrative Dunnhumby data business after agreeing a deal with US retailer Kroger to loosen an existing partnership which prevented the firm from expanding stateside. The joint venture with Kroger had been a thorny sticking point in any potential sale [...]
FTSE 100 index rises over 6,000 mark as it opens sharply higher on oil companies as share price of BP and Shell rise with pharmaceuticals including Shire and AstraZeneca January 13, 2016 The FTSE 100 climbed back over the 6,000-point mark in the first hour of trading today, as the index rose after positive trade data from China helped abate fears of a possible slowdown in the world's second largest economy. Improvements in Chinese export data appear to suggest that while the economy is slowing, things may not be nearly [...]
Eagle Eye wins contract with Canadian supermarket giant Loblaw February 3, 2016 Eagle Eye Solutions, an Aim-listed retail and hospitality voucher firm backed by Sir Terry Leahy, has won a significant contract with Canadian supermarket chain Loblaw to assist it with its digital promotions. Eagle Eye, whose clients also include Sainsbury's and Asda, said that Loblaw represented its first major international client and would contribute material revenue over [...]