Our nation of shoppers is not about to quit the habit yet July 14, 2010 SINCE the onset of the recession, the pressure has increased to turn the UK economy into a manufacturing centre of excellence and at the same time become a nation of savers. But has the nation really turned its back on its former favourite pastime, shopping? Well, the hard data would suggest no. According to the [...]
Asda moves to beat tax rate April 11, 2010 Asda, the second largest supermarket chain in the UK, helped a number of senior executives dodge the new 50 per cent top rate of income tax by paying them a portion of their annual salary upfront in March. Asda would not confirm how many staff earning above £150,000 per year took up the opportunity. Meanwhile, [...]
Home Retail ups forecast March 11, 2010 HOME retail Group – which owns Argos and Homebase – has tipped its pre-tax profit for the year to come in at £290m. The figure is slightly ahead of its earlier forecast of £285m for the year to 27 February. Argos sales fell 9.4 per cent while sales at its home improvement operation Homebase declined [...]
Asda chief Bond to step down April 12, 2010 ANDY Bond is stepping down as chief executive of Asda in a shock move ahead of his unveiling of the company’s five-year plan. Bond is stepping into a new role of chairman on the board of Asda – a subsidiary of US-giant Walmart – the company said yesterday. The role will start off full-time to [...]
Asda chief to step down as takeover rumours sweep City April 12, 2010 ANDY Bond is stepping down as chief executive of Asda in a shock move ahead of his unveiling of the company’s five-year strategy plan. Bond is stepping into a new role of chairman on the board of Asda – a subsidiary of US retail giant Walmart – the firm said yesterday. The role will start [...]
TIME LINE | WORLD’S MAJOR OIL SPILLS May 3, 2010 ● Argo Merchant, December 1976 The vessel carrying 7.7m gallons of Number 6 oil ran aground off the coast of Nantucket Island, Massachusetts and dumped its entire cargo into the sea when it broke apart. ● Ixtoc I, June 1979 The exploratory oil rig off the Bay of Campech in Mexico suffered from a blowout [...]
BEST OF THE BROKERS March 14, 2010 HOME RETAIL GROUP Charles Stanley said the group’s fourth quarter trading update covering the eight weeks to 27 February was mixed. Trading was impacted by poor weather in January, but the impact on profits has been limited as the period is traditionally a low volume one. The broker remains cautious especially over the growing threat [...]
The bike and car parts retailer who wants to own Britain on the move June 20, 2010 Halfords and its chief executive David Wild are having a good recession. Earlier this month, the bikes and car maintenance retail chain posted a strong set of full-year figures: pre-tax profits rose 42 per cent to £110m, while sales rose three per cent to £832m. The FTSE 250 business said the trend for healthy living [...]
Sales at Home Retail Group upset the City January 14, 2010 SHARES in Argos and Homebase owner Home Retail Group (HRG) slid more than six per cent closing at 265.8p yesterday despite the company increasing its full-year profit forecast by £20m. The retailer estimated that its pre-tax profits for the current financial year to 31 March would hit £285m The revised figure came as a trading [...]
Mything in action March 31, 2010 Film CLASH OF THE TITANS Cert: 12A THE first action blockbuster of the Spring is no classic, but as forgettable, brain-dead holiday entertainment it just about gets the job done. Starring man-of-the-moment Sam Worthington (Avatar, Terminator Salvation) as Greek demi-god Perseus, it’s a remake of the 1981 film that was chiefly notable for its stop-motion [...]