Will Tesco’s earnings drive further share price gains? September 27, 2019 Tesco PLC reports earnings its first-half results on 2 October. The UK’s largest supermarket group is expected to report earnings of 7.5 pence per share, up 17.2 per cent on the year, while revenues are set to remain flat at £31.7 billion. Pretax profit is forecast to be £944 million. Tesco’s outlook is clouded by the [...]
Retail giants have an opportunity to plug the holes in a disjointed rental market November 8, 2022 For many people up and down the country, their ability to stay in their home is in peril. And this isn’t about mortgages. Rents have jumped steeply this year and many are forced to move as a result. Others will be forced out because of the collateral damage of landlords not being able to pay [...]
Week ahead: Bumper week of economic data to jolt the City April 10, 2022 The City will be eyeing a raft of flagship economic announcements this week that will send ripples throughout London’s top indexes. The capital’s premier FTSE 100 index registered a strong week last week, gaining 1.75 per cent. The mid-cap domestically-focused FTSE 250 index, which is more aligned with the health of the UK economy, shrank [...]
City Moves: Who’s switching jobs in the Square Mile? June 10, 2022 City A.M.’s Millie Turner provides a roundup of the most important hires and job moves across the City, every morning. Email citymoves@cityam.com to be featured. BambuBlack Asia Pacific long-only equities boutique firm BambuBlack has strengthened its investment team with a fresh portfolio manager. Pinakin Patel joins the firm in London from Allianz Global Investors in Hong Kong, where he was an investment [...]
Tesco ‘unlawfully’ blocked rivals from opening nearby stores, CMA finds February 14, 2020 Tesco has been told to stop illegally blocking rival supermarkets from buying its land or leasing nearby sites by the Competition and Markets Authority (CMA). An investigation from the competition regulator found that Tesco had blocked access to rivals using restrictive contracts on 23 occasions. The UK’s biggest supermarket chain has agreed to take action [...]
Workers to stage walkouts over ‘dismal’ pay offers April 8, 2022 Thousands of UK workers are set to stage walkouts over the next few days over below-inflation pay offers. The Communication Workers Union (CWU) yesterday rejected BT’s 5 per cent pay rise – the highest in more than 20 years – calling it a “nothing short of an insult,” the Times first reported. “We have no [...]
‘Alcohol free beer is healthy!’ Sober October tips from London’s first alcohol free bar September 27, 2023 I take a sip of my No Sleep till Brooklyn, a cocktail featuring two types of alcohol-free whisky, and I have to admit that it tastes pretty darn like the real thing. It even has the ‘slow burn’ feel of whisky in the mouth. “You see!” says Laura Willougby, co-founder of Club Soda, London’s first [...]
No break for Brits as inflation pushes the cost of kitchen staples by 80 per cent April 18, 2023 Brits are yet to receive a break from soaring food prices as the price of cheddar cheese, sliced white bread and porridge oats are up to 80 per cent more expensive than a year ago. As inflation reached record highs due to the war in Ukraine, consumers were forced to fork out more for kitchen [...]
Tesco mulls sale of Thailand and Malaysia operations December 8, 2019 Tesco is mulling the sale of its business in Thailand and Malaysia, the supermarket giant confirmed today. The grocer said it had launched a review of the strategic options for the two Asian divisions, where it operates under the Tesco Lotus brand, “including an evaluation of a possible sale”. Read more: Tesco chief resigns after [...]
Growers warn leek supply will be exhausted by April as Therese Coffey tells Brits to eat turnips February 24, 2023 Growers are warning of a leek shortage that will see British-grown supplies exhausted by April. High temperatures and a lack of rain, followed by a period of cold weather, are being blamed for creating the “most difficult season ever”. Supermarkets are already limiting the sale of tomatoes and other fruit and vegetables because of a [...]