Tesco to sell half its Japanese business to Aeon June 18, 2012 Supermarket giant Tesco is to sell half of its Japanese business for a nominal sum. Japan’s second biggest retailer Aeon Corp will has bought a 50 per cent share in the loss-making business for a nominal sum. Tesco put the unit up for sale last August, ending an eight-year attempt to break into the domestic [...]
Stobart Group shares skid after haulage firm warns on profits January 17, 2013 STOBART Group’s shares fell by almost three per cent yesterday after the FTSE 250-listed lorry firm warned it would fall short of profit forecasts and announced the closure of its chilled business. The firm said its operating performance for the year will be slightly below market expectations, due to slower than hoped progress on its [...]
Mining and banking shares boost FTSE February 11, 2013 The leading share index was modestly up in early deals, as mining and banking shares boosted the FTSE 100. Russian steelmaker Evraz rose 1.77 per cent. Miner Eurasian Natural Resources was up almost 1.7 per cent in early deals. Last week the Kazakh-focused miner soared more than nine per cent as it reported a jump [...]
The trusted brand with personality at its core February 3, 2013 YOU may have seen Clippy McKenna’s eponymous preserves on your supermarket shelves. Her two-man show (it is just Clippy and fiancé Paul Gorman working at the business; everything else, including the actual jam-making, is contracted out) now stocks its products in some of the biggests stores – including Tesco and Harvey Nichols. After graduating as [...]
Sorry seems to be the sweetest word for some C2C commuters January 24, 2013 THE ART of the official apology is a difficult one to master (see: Tesco’s “hit the hay” tweet and Nick Clegg’s video mea culpa), and rail operators are not known for their human warmth when trains break or go missing. So The Capitalist is heartened to hear of C2C’s act of contrition, which came in [...]
What the other papers say this morning December 20, 2012 FINANCIAL TIMES Trafigura earns $1bn twice in a row Trafigura, the commodities trader, earned about $1bn for the second year running in 2012, indicating that the profitability of the world’s top houses that dominate raw materials has remained high in spite of slower economic growth in China. The privately held company, based in Geneva and [...]
What the other papers say this morning November 29, 2012 FINANCIAL TIMES Morgan Stanley to boost returns Morgan Stanley’s chief executive wants to use the bank’s excess capital to boost returns for the company’s “long suffering” shareholders. In the strongest signal yet that Morgan Stanley is preparing to hand back more than token sums to shareholders since the financial crisis, James Gorman told a securities [...]
Tesco takes pensions in-house May 9, 2012 Tesco yesterday said it would manage its own pension scheme, one of the largest in the country still offering defined benefits, to maximise returns and cut dependence on consultants. Tesco Pension Investment will be led by Steven Daniels, previously group chief investment officer of LV= Asset Management.
FTSE pauses for breath beneath the 6,300 mark February 11, 2013 BRITAIN’S FTSE 100 was lifted yesterday by strength in energy stocks and food retailers, but the index was still struggling to break through the four-and-a-half year highs hit at the start of February. London’s blue chip index gained 13.13 points, or 0.2 per cent at 6,277.06, holding within the 70-point range of the last five [...]
Profit-taking cannot halt FTSE as it hits highest close since May 2008 January 10, 2013 BRITAIN’S top share index closed above the 6,100 resistance level for the first time since 22 May 2008, yesterday, recovering from a late wobble after a choppy trading session. The FTSE 100 index was up 2.86 points, or 0.1 per cent, at 6,101,51, having seen some late profit-taking erased in the closing auction, but the [...]