Tesco eyes stake in Hi-Mart February 23, 2012 TESCO may bid for a controlling stake valued at about £570m in South Korean electronics retailer Hi-Mart, two sources with knowledge of the matter said yesterday, as the British grocer eyes growth markets to offset challenging times at home. Disposable incomes across much of Europe are being squeezed by rising prices, muted wage growth and [...]
McBride issues profit warning as sales slide October 15, 2012 MCBRIDE, Europe’s biggest maker of retailer own-brand cleaning products, yesterday warned that first-half profits will be hit by a sharper than expected dent in sales after the wind- down of its contract manufacturing business. The firm said trading profit in the year to the end of June 2013 will be about £2m lower than previously [...]
Leading firms support supply chain finance October 23, 2012 LEADING British firms including Tesco, BAE Systems and BT yesterday gave their backing to the government’s “supply chain finance” scheme, which aims to boost working capital for small businesses. David Cameron hosted business leaders at a Downing Street roundtable, where 38 leading firms agreed to actively consider implementing the scheme. Rolls-Royce and Vodafone, who already take [...]
Leading firms support supply chain finance October 23, 2012 LEADING British firms including Tesco, BAE Systems and BT yesterday gave their backing to the government’s “supply chain finance” scheme, which aims to boost working capital for small businesses. David Cameron hosted business leaders at a Downing Street roundtable, where 38 leading firms agreed to actively consider implementing the scheme. Rolls-Royce and Vodafone, who already take [...]
Tesco changes tack on job scheme February 21, 2012 Supermarket giant Tesco yesterday agreed to start paying young people taking part in the government’s work experience scheme, in a bid to halt growing complaints about the programme. Tesco had been advertising long-term, unpaid positions for those on jobseekers’ allowance.
Best of the Brokers October 7, 2012 BSKYB Numis rates the media group “add” with a target price of 865p ahead of first quarter results due on 1 November. The broker expects to see strong subscription growth following a summer of sport, though earnings growth is likely to be muted at around one per cent, after the firm bought a string of [...]
Asian ambition risks a Prudential departure November 14, 2012 PRUDENTIAL boss Tidjane Thiam failed in his bid for AIG’s Asian insurance arm AIA in 2010, but yesterday’s third quarter numbers show the insurer has not turned its back on Asia’s opportunities. Far from it, with the Asian part of the business showing £828m new business profit in the year to date, as against £683m [...]
Asian ambition risks a Prudential departure November 14, 2012 PRUDENTIAL boss Tidjane Thiam failed in his bid for AIG’s Asian insurance arm AIA in 2010, but yesterday’s third quarter numbers show the insurer has not turned its back on Asia’s opportunities. Far from it, with the Asian part of the business showing £828m new business profit in the year to date, as against £683m [...]
Tesco’s UK chief Richard Brasher set to step down March 14, 2012 TESCO’S chief executive of UK operations Richard Brasher is set to step down just one year after taking the position. Group chief executive Philip Clarke will assume responsibility for Tesco’s home operations. Richard Brasher joined Tesco in 1986 and was appointed to its board eight years ago today, on 15 March 2004. He took the [...]
City Moves | Who’s switching jobs October 18, 2012 Barclays Mike Rigby has been appointed head of manufacturing, transport and logistics in Barclays’s corporate banking division. He joined the bank in 2008, and was previously corporate director in the manufacturing team. Rigby has also held roles at HSBC. Ernst & Young John Clarke has been appointed partner in the professional services firm’s operational transaction [...]