Just 15 per cent think challenger banks are better than big lenders August 26, 2014 New banks want to establish themselves as a fresh alternative to the dominant high street banks which have taken the blame for the financial crisis. But it is a tough ask. For new research out today from U-Switch suggests the public is not impressed with their offerings so far. Just 15 per cent think the [...]
Fashion wars… a Lidl bit of what you fancy August 20, 2014 The invasion of supermarkets into the fashion sector is hotting up after hard discounter Lidl announced yesterday it was entering the fray. The German retailer is to launch a new fashion range for women next Monday, including ankle boots for £9.99 and even a faux leather jacket for £15. Lidl already sells basic clothing such [...]
London Report: FTSE falls as tobacco stocks are burned by $23.6bn US fine July 21, 2014 BRITAIN’S top share index fell yesterday, with tobacco stocks hit by a multi-billion-dollar fine against RJ Reynolds in the United States and retailers slipping after a profit warning from Tesco. The prospect of further sanctions by the West against Russia over last week’s downing of an airliner over Ukraine also discouraged investors from making big [...]
RIP iPod Classic: Apple kills off original design September 10, 2014 In the midst of all the fuss about Apple's new launches, the tech giant appears to have quietly killed off its genre-busting iPod Classic nearly 15 years after its creation. The iPod Classic, which was first launched in 2001, is no longer available for sale on the Apple Store, although some branches of Tesco [...]
Aldi closes in on Waitrose as the discounters scent blood July 29, 2014 The challenges facing Britain’s big four grocers was further laid bare yesterday after new data revealed that Aldi was poised to overtake Waitrose to become the country’s sixth biggest supermarket. Kantar Worlpanel data released yesterday showed Aldi’s sales jumped 32 per cent year-on-year in the 12 weeks to 20 July, bringing its market share within [...]
The year at City A.M.: Our most popular stories of 2014 December 31, 2014 With everything that has gone on in the last 12 months you might be forgiven the odd memory lapse. Here's our round-up of the stories that got you clicking in 2014. January It's hard to believe it was less than a year ago that French President Hollande was caught having a moped-based affair with actress [...]
Tesco buys part of Asian grocer December 9, 2013 TESCO has bought a minority stake in south east Asia’s largest online retailer Lazada, the supermarket chain confirmed yesterday. Tesco declined to say exactly how much it had spent on the acquisition but said the deal was worth “ten of millions” of pounds. Lazada was founded last year by German brothers Oliver, Marc and Alexander [...]
Broadbent suffers his Rumsfeld moment September 22, 2014 SIR RICHARD Broadbent’s position as chairman of Tesco looked increasingly vulnerable yesterday after the latest revelations over mis-stated profits raised questions over governance at the chain. Several City analysts suggested that Broadbent would have to go, including Shore Capital’s Clive Black, who described his position as “untenable,” after overseeing his third profit warning in weeks. [...]
Best of the Brokers for 15 July 2014 July 14, 2014 To appear in Best of the Brokers, email your research to notes@cityam.com TESCO Cantor Fitzgerald has upgraded to “buy” from “sell”, raising the target price to 325p from 282p. The broker thinks Tesco is undervalued compared to peers, with potential in the reconfiguration of its UK operations, and online and convenience sales growing ahead of [...]
Lansdowne takes a stake in luxury online retailer Achica August 10, 2014 Lansdowne Partners, one of the world’s largest hedge funds, has bought a stake in online luxury lifestyle store Achica. Lansdowne’s investment was disclosed in documents filed at Companies House, which also said that the company is considering an initial public offering at some point in the future. Achica’s chief executive Steve Robinson, who previously headed [...]