Tesco US chief quits as retailer signals retreat December 5, 2012 TESCO shares climbed 3.3 per cent yesterday after chief executive Philip Clark revealed the likely closure of its loss-making US chain and the departure of the division’s head. The supermarket giant has hired investment bank Greenhill to conduct a strategic review of Fresh & Easy that could lead to the sale or closure of its [...]
What the other papers say this morning – 19 September 2013 September 18, 2013 FINANCIAL TIMES Criteo seeks $800m Nasdaq IPO Criteo, a French digital advertising company that delivers online ads for brands including Orange and Expedia, has filed for an initial public offering in the US that could value the company at $800m. The flotation will provide an important test of investor demand for the advertising technology sector, [...]
Regulator agrees redress of up to £1.3bn for mis-sold insurance products August 22, 2013 Regulator the Financial Conduct Authority (FCA) has reached an agreement with several firms to provide redress to consumers mis-sold Card Protection Plan's (CPP) Card Protection and Identity Protection policies. This follows the mis-selling of 23 million policies to seven million customers. Those customers will now receive a letter from CPP explaining the process with a [...]
Labour’s plot to hike corporation tax is short-sighted nonsense September 23, 2013 WHAT, exactly, does the Labour party think it is doing? It wants to hike – yes, hike – corporation tax if it is elected in 2015, the latest of a long list of utterly destructive policies unveiled in recent days. The idea is that this will “pay” for a freeze in business rates on small [...]
Terry Price to retire from Tesco November 6, 2012 Tesco is set to lose yet another to another of its senior executives, as it confirmed yesterday that its head of non-food Terry Price, is leaving after 18 months in the role. The supermarket group said Price, who returned to the UK from Tesco’s China division to take up the role, is due to retire [...]
The former City men and women among today’s peerage lineup August 1, 2013 There are a few former City types among the 30 new peers welcomed to the House of Lords today. Howard Leigh (Conservative): Senior partner at Cavendish. Leigh is a qualified charterd accountant who set up Deloitte’s M&A group in early 1986 and Cavendish Corporate Finance in 1988. He’s also chaired the Conservative party’s The Leader's [...]
Tesco moves key UK director October 23, 2012 ■ Tesco yesterday said it has moved one of the senior executives tasked with delivering the firm’s £1bn turnaround plan in its home market. The grocer said its UK fresh food commercial director Andrew Yaxley would leave the post he has held for over two years to prepare for a new management role. Yaxley’s duties [...]
Tesco set for a Christmas tussle to win back customers November 6, 2012 TOWARDS the end of last year I discussed in this column how 2011 had seen Tesco’s brand perception scores fall throughout the year. As we would expect to see, perceptions proceeded sales. Tesco’s January announcement that its sales had dropped led to a sell-off that knocked around 100p from Tesco’s share price. This is a [...]
Speed is not of the essence in the disposal of RBS branches August 20, 2013 THE ROYAL Bank of Scotland (RBS) was yesterday called upon to get a move on in the disposal of 316 branches it has been required to make as a condition of its 2008 bailout by the UK taxpayer. Urging it to make a speedy decision are two of the three short-listed bidders who are vying [...]
Innovation Diary: Why the rise of the intrapreneur may be picking up momentum August 18, 2013 MANY startups are sceptical of claims that big corporates understand small business. It certainly suits an image, but the reality is often different. A recent inquiry found, for example, that small and medium-sized businesses were owed a record £35.3bn in late payments at the end of 2012, with big firms the main culprits. Many startups [...]