FTSE tumbles as Greek crisis prompts flight from equities June 16, 2011 BRITAIN’S top shares fell sharply yesterday as fears over the global recovery and a contagion impact from the Greek debt crisis prompted investors to sell out of riskier assets such as commodity stocks. The FTSE 100 ended down 43.74 points, or 0.8 per cent, at 5,698.81, back at levels last seen after the Japanese earthquake, [...]
Tesco talks up economy as profit lifts October 5, 2010 TESCO said yesterday that the UK was unlikely to slide back into recession as it reported a 12.5 per cent increase in first half profit to £1.6bn. The world’s third largest retailer said it had been boosted by the strength of Asian markets, offsetting “modest” UK sales growth in the 26 weeks to 8 August. [...]
Burberry boost for Nomura March 30, 2011 The iconic clothing group Burberry has hired Nomura, the Japanese bank, to be one of its corporate brokers. Nomura will advise Burberry alongside Morgan Stanley and Bank of America Merrill Lynch. The appointment will be a boost for Nomura which also advises Tesco and Invensys. Nomura’s team comprised of Ed Matthews, Ed Peel, Ed Boyce [...]
Tesco plan to sell mortgages delayed by FSA October 3, 2010 TESCO’S plans to sell mortgages in Britain could face a delay because it has yet to receive approval from the country’s financial services watchdog. “The FSA (Financial Services Authority) is just being careful. It is a new process and it is very difficult,” a Tesco spokesman said. He declined to comment on a report in [...]
High street brands popular for legal advice March 15, 2011 WITH the implementation of the “Tesco law” looming, a new report from YouGov into the legal services sector provides positive news for big brands looking to diversify into this sector. It reveals that consumer willingness to seek legal advice from retailers or high street brands is high; 60 per cent of consumers would consider using [...]
FTSE nears seven-year high as M&S boosts retail sector April 6, 2011 BANKS helped drive Britain’s top shares to a near seven-week high yesterday following a Portuguese debt auction, while Marks & Spencer rose on better-than-expected sales, lifting sentiment in retailers. The FTSE 100 ended up 34.07 points, or 0.6 per cent, at 6,041.13, its highest closing level since 18 February. Lex van Dam, hedge fund manager [...]
FTSE nears seven-year high as M&S boosts retail sector April 6, 2011 BANKS helped drive Britain’s top shares to a near seven-week high yesterday following a Portuguese debt auction, while Marks & Spencer rose on better-than-expected sales, lifting sentiment in retailers. The FTSE 100 ended up 34.07 points, or 0.6 per cent, at 6,041.13, its highest closing level since 18 February. Lex van Dam, hedge fund manager [...]
Waitrose to take Tesco head on in price contest September 26, 2010 WAITROSE is to take Tesco head on after the supermarket giant revealed that it will price match its rival on over 1,000 branded products. Starting today, Waitrose will use Tesco as a benchmark when pricing its top-selling everyday branded products, such as Persil, Ribena and Heinz Baked Beans. Managing director Mark Price said this is [...]
Tesco boss slams short-term investors September 26, 2010 TESCO boss Sir Terry Leahy has launched a stinging attack on City investors for failing to act in the best interests of Britain’s public companies. Writing in today’s Times, Leahy said shareholders would benefit from becoming more engaged with the firms they invest in. This would also free up managers from dealing with the goals of [...]
Morrisons is leading race for Iceland May 22, 2011 SUPERMARKET chain Morrisons is being touted as the frontrunner in the race to buy into rival Iceland, after majority owner Landsbanki officially launched a sales process for its holding in the company. The Resolution Committee for Landsbanki said last week that according to advisers UBS and Bank of America Merrill Lynch, “market conditions are currently [...]