Morrisons looks to build on its rising sales trend September 4, 2011 SUPERMARKET chain Morrisons reports its half yearly results on Thursday in which it is expected to give an update on its £320m cost saving programme and the performance of its new convenience stores under the M Local brand. The group’s first quarter figures showed a surprise like-for-like rise in sales, excluding fuel, of 2.5 per [...]
FTSE rise fuelled by solid earnings May 3, 2012 The FTSE 100 pushed higher in early deals, recovering some of the previous session’s falls as investors turned their attention to a European Central Bank (ECB) meeting and tomorrow’s key US jobs report. ECB chiefs meet today after a week in which a string of bleak economic data, including manufacturing figures, has cast a shadow. [...]
Troubling times for retailers to the squeezed middle April 29, 2012 SPARE a thought for the squeezed middle. No, not the ordinary family as defined by Ed Miliband, but the places they shop and the things they buy. The mid-market consumer firm is finding the going very tough indeed. There has been much written about Tesco’s troubles in recent months, punctuated by a series of ignominious [...]
Excelebration may well ruffle Frankel’s feathers May 17, 2012 THE freak that is Frankel returns at Newbury tomorrow where he bids to defend his unbeaten record and make it a perfect 10 in the JLT Lockinge Stakes at 3.40pm. However, it hasn’t all been plain sailing in the run-up to this race as Sir Henry Cecil’s superstar suffered an injury on the gallops last [...]
Sir Ken Morrison fined £210k August 16, 2011 Former Morrisons chairman Sir Ken Morrison has been hit with a £210,000 fine for failing to disclose his reduced shareholding and voting rights to the company and investors. The 79-year-old businessman, who spent more than 50 years turning the business into the UK’s fourth largest supermarket chain, reduced his stake in the company from 6.38 [...]
FTSE SUFFERS BIGGEST FALL IN TWO WEEKS March 20, 2012 BRITAIN’S top share index suffered its sharpest fall in two weeks yesterday, as concerns over materials demand in top consumer China hit commodities-linked sectors, marring a rally that had been part-driven by hopes for improving global growth. The benchmark FTSE 100 index closed down 69.7 points, or 1.2 per cent, at 5,891.41, having rallied more [...]
Daisy to buy Wordlwide for £28m April 13, 2012 The FTSE 100 edged down in early trading as investors digested data showing a slowdown of growth in China’s economy. Official figures released overnight showed that China’s economy grew at its slowest rate in almost three years. Gross domestic product increased by a rate of 8.1 per cent in the first quarter, down from 8.9 [...]
FTSE down as China growth slows April 13, 2012 The FTSE 100 edged down in early trading as investors digested data showing a slowdown of growth in China’s economy. Official figures released overnight showed that China’s economy grew at its slowest rate in almost three years. Gross domestic product increased by a rate of 8.1 per cent in the first quarter, down from 8.9 [...]
All3Media sets hunt for new chief in motion February 5, 2012 PRIVATE equity firm Permira is on the lookout for a new chief executive for All3Media, in which it owns a majority stake, as current head Steve Morrison, 64, prepares to step down. A headhunter has been brought in as it is thought likely that the new chief executive will be an external candidate. All3Media, the [...]
Budget fuels crisis on the high street March 22, 2012 SOME of the UK’s most senior retailers yesterday slammed the chancellor’s supposedly pro-business Budget, saying his failure to address a planned hike in business rates will deal a blow to Britain’s ailing high streets. George Osborne has said he will cut corporation tax faster than planned to 24 per cent this year. But retailers were left [...]