Buffett raises stake in Tesco September 26, 2011 Billionaire US investor Warren Buffett has nudged up his stake in Tesco, according to Reuters sources. Analysts said the move could be interpreted as a vote of confidence in new chief executive Phil Clarke. Buffett’s Berkshire Hathaway last month bought around 34m Tesco shares for about £120m, lifting its stake in the British supermarket group [...]
Why it must be made much easier to switch bank accounts July 8, 2012 FOR once, Labour has got it half right. It will confirm today that it wants to make it much easier for current account holders to change bank, in a bid to empower consumers and to drastically improve competition in retail banking. The idea is to make switching bank as easy as it is changing mobile [...]
Clarke makes a play to show investors he means business April 4, 2012 PHILIP Clarke’s power grab for Tesco’s UK business last month was a bold move by the flailing supermarket’s chief executive. It left analysts predicting a crunch year for Clarke – who took over from Terry Leahy in March last year – with a clear case of sink or swim on the cards should he fail [...]
WHAT THE OTHER PAPERS SAY THIS MORNING May 2, 2012 FINANCIAL TIMES Airline levy could aid UK border Two Democratic senators have turned up the political pressure on News Corp, reviving questions about whether a scandal at Rupert Murdoch’s UK newspapers could jump the Atlantic. Sen Jay Rockefeller of West Virginia has written to Lord Justice Leveson asking for any evidence that “troubling and sometimes [...]
ANALYST VIEWS HOW IS SAINSBURY’S FARING IN A COMPETITIVE ENVIRONMENT? May 9, 2012 JAMES GRZINIC JEFFERIES Sainsbury’s full-year results were nearly two per cent better than expected…Crucially, the group has confirmed that it expects core capex to decline from the 2011-12 peak of £1.24bn to £1bn in 2012-13. We expect yield merits to be better underpinned given better cashflow dynamics, but Morrisons and Tesco are a 20 per [...]
BLINKBOX SIGNS PARTNERSHIP WITH DISNEY April 4, 2012 ONLINE movie service Blinkbox has joined forces with Disney to bring the film company’s latest releases to UK customers. Many popular titles, including War Horse (pictured) and The Muppets, will be available to rent online the same day that they are released on DVD, while Blinkbox users will also be able to access Disney classics [...]
Euro fears and ex-divi stocks see FTSE slide after two days of gains April 18, 2012 BRITAIN’S leading share index dipped into negative territory yesterday, pulled down by a set of ex-dividend stocks, while fears of another blow-up in the Eurozone crisis kept investors nervy ahead of a Spanish debt auction. The FTSE 100 index closed down 21.66 points, or 0.4 per cent at 5,745.29, after two days of gains, as [...]
CITY VIEWS DO YOU SHOP FOR GROCERIES ONLINE? April 18, 2012 LUCY WALLCRAFT FIDELITY Sometimes I shop online for my groceries, but not always. When I do it’s because it is the most convenient way to get what I need. I mainly use Tesco if I shop online because it is the easiest to use.” SHARON GURNETT MCGRIGORS I don’t personally shop online for groceries. I’m [...]
CITY VIEWS DO YOU SHOP FOR GROCERIES ONLINE? April 18, 2012 LUCY WALLCRAFT FIDELITY Sometimes I shop online for my groceries, but not always. When I do it’s because it is the most convenient way to get what I need. I mainly use Tesco if I shop online because it is the easiest to use.” SHARON GURNETT MCGRIGORS I don’t personally shop online for groceries. I’m [...]
ANALYST VIEWS: HOW HAS THE RETAILER FARED COMPARED TO RIVALS? March 21, 2012 CLIVE BLACK | SHORE CAPITAL Sainsbury has delivered what can only be considered a very sound and resilient performance against the backdrop of demonstrably challenging times. Indeed, the group deserves credit for the sales momentum delivered in the fourth quarter and in the face of some deep fuel related discounts by competitors. RICHARD HUNTER | [...]