Tesco probed over supplier mistreatment February 5, 2015 TESCO could be “named and shamed” if found guilty of breaching supplier rules, the grocery industry’s watchdog Christine Tacon said yesterday after launching her own investigation into Britain’s biggest supermarket chain. The retailer sent shockwaves through the industry in September when its new chief executive Dave Lewis revealed profits had been overstated by £263m following [...]
DIY group Homebase shops at Tesco to pick new boss Echo Lu March 19, 2015 HOMEBASE has poached Tesco director Echo Lu to be its new managing director and lead a turnaround at the retailer that will see it close a quarter of its shops. Lu, who was previously head of group business planning and insight at Tesco, will join on 20 April, replacing its longstanding boss Paul Loft, the [...]
Blinkbox sold by Tesco at loss January 26, 2015 TESCO offloaded its music streaming service Blinkbox Music to Australian firm Guvera yesterday in a deal thought to be worth around £5m, significantly less than the £12m the supermarket paid to acquire the service in 2012. The sale was quickly followed by the announcement that Tesco’s remaining digital entertainment services, Blinkbox Books, will be shuttered [...]
Tesco’s rising share price leads FTSE 100 higher January 8, 2015 Tesco became the biggest riser on the FTSE 100 this morning, with its shares jumping more than 11 per cent in lunchtime trading after it posted encouraging Christmas trading figures. By close of trading, Tesco's share price had soared 16.4 per cent. The rally helped the FTSE 100 to rise almost 2.3 per cent. Other [...]
Greg Mulholland slams “unacceptable” appointment of Paul Newby as Pubs Code Adjudicator by Sajid Javid March 10, 2016 Liberal Democrat MP Greg Mulholland has slammed Sajid Javid's appointment of Paul Newby as the new Pub Codes Adjudicator (PCA). Newby, who will take up the role of PCA on 2 May for an initial term of four years, will be responsible for enforcing the Pubs Code – new legislation that will govern the relationship [...]
At the close: FTSE 100 index closes down on Sports Direct, Old Mutual December 10, 2015 The FTSE 100 index slid in Thursday's trading despite gains by Glencore as both Sports Direct and Old Mutual tumbled. The index closed 0.63 per cent down at 6,088 points. Sports Direct slumped after Mike Ashley's retailer posted underwhelming first half results and the company was criticised for staff working conditions. Group revenue ticking up 0.1 per cent to £1.43bn, [...]
UK pensions: Defined benefit pension schemes deficit edging downwards in private sector companies January 4, 2016 UK private companies have marginally narrowed the deficit they are running on their defined benefit (DB) pension schemes. Figures from JLT Employee Benefits show that, at 31 December 2015, funding for DB pensions in all UK private sector pension schemes stood at a £228bn deficit. By comparison, at 31 December 2014, the deficit was £248bn. [...]
Tesco is winning at Valentine’s Day. Here’s why February 11, 2015 Valentine's Day is just around the corner and what says love more than multinational retailers pushing their pink heart-shaped products you neither want nor need? Absolutely nothing. That's why between now and Saturday we will all be bombarded with adverts for all the chocolates you can eat (before the cocoa runs out) recipes for two, [...]
CNBC International targets business thirst for news from China as bullish boss backs network to succeed in multiplatform media world April 14, 2016 China's economy may have been an area of concern for many in the business world so far this year. But for CNBC, the US-founded international business news broadcaster, it represents an opportunity. The international business community's "thirst" for news from China is growing. And CNBC wants to be there to provide it – despite the political challenges of working in the country. [...]
Commodity crunch to hit UK dividend growth next year October 19, 2015 The commodity crunch is set to stifle dividend-growth in London-listed companies next year. Total dividend growth is expected to slow three per cent to £89.8bn in 2016, way below a 6.8 per cent projected increase to £87.2bn this year, according to a report by Capita Asset Services. "The concentration of global mining firms listed on the UK stock exchange [...]