Advisers Rob Ritchie September 12, 2012 GOLDMAN SACHS FOR its $2bn bond issue, AstraZeneca appointed four leading Wall Street firms to underwrite the deal and help bring the bonds to the market: Goldman Sachs, Morgan Stanley, HSBC Securities and JP Morgan Securities. Leading for Goldman Sachs on the offering was its head of European debt capital markets Rob Ritchie. Ritchie has [...]
Budget grocers up market slice July 17, 2012 BUDGET supermarket chains Aldi and Lidl have raised their market share again, new figures showed yesterday. The latest Kantar Worldpanel survey revealed that Lidl and Aldi have 2.9 per cent each of the UK market, a record for the budget chains, which have been catching their rivals as austerity bites. Among the big four grocers, [...]
Tesco wins Buffett seal of approval January 19, 2012 WARREN BUFFETT, the US investor known as the Sage of Omaha for his stock-picking prowess, has given Tesco his vote of confidence by raising his stake in the embattled supermarket, which shocked markets last week with its first profit warning in 20 years. Buffett’s investment vehicle Berkshire Hathaway has snapped up about £350m worth of [...]
Tesco hit by dismal Christmas January 12, 2012 Tesco, Britain’s biggest retailer, reported its worst Christmas sales performance for decades on Thursday and warned it would see minimal profit growth next year as it invests in winning back shoppers. The world’s third-largest stores group said on Thursday it now expected minimal trading profit growth for 2012/13 against analysts’ forecasts for a 10 percent [...]
Tesco hit by dismal Christmas January 12, 2012 Tesco, Britain’s biggest retailer, reported its worst Christmas sales performance for decades on Thursday and warned it would see minimal profit growth next year as it invests in winning back shoppers. The world’s third-largest stores group said on Thursday it now expected minimal trading profit growth for 2012/13 against analysts’ forecasts for a 10 percent [...]
Tesco moves UK exec who sold shares February 1, 2012 SUPERMARKET giant Tesco has moved Bob Robbins from his role as UK chief operating officer three weeks after it was revealed he sold stock ahead of a profit warning, according to an internal announcement yesterday. The announcement said Robbins, who has held the UK COO role since March 2011, will work directly for group chief [...]
Sainsbury’s teams up with Rovi to join internet movie market August 23, 2012 J SAINSBURY has become the latest player to enter the on-demand film streaming market, teaming up with US technology firm Rovi to launch an online rental service to rival Sky’s Now TV, Netflix and Lovefilm. The supermarket, which also started a music download service earlier in the year, says it will offer films on a [...]
Tesco defends pledge of 20,000 new jobs as it pursues Eastern dreams with property fund float March 5, 2012 THE head of Tesco’s British business defended the chain’s pledge of 20,000 new jobs yesterday, following analysts’ claims that supermarkets inflate their figures. Richard Brasher said the hiring plan represented “real net new jobs” after the retailer, Britain’s largest, said it could not yet give figures for the split of full and part-time positions. More [...]
WH Smith boss Kate Swann to leave retailer October 11, 2012 WH Smith yesterday announced Kate Swann is to step down as chief executive next year after heading the retailer for almost a decade. Swann will hand over the reins to Steve Clarke, managing director of the group’s high street division, next July after overseeing its crucial Christmas period and ensuring “a smooth transition” of the [...]
BEST of the BROKERS July 12, 2012 TESCO Shore Capital has a “hold” rating on the supermarket giant and a target price of 319p. The broker thinks Tesco is making steady progress improving its performance in the UK, but has downgraded full-year earnings forecasts by nine per cent for the firm’s Europe division, 12 per cent for the US and 9.5 per [...]