Ocado earnings jump 79pc after Morrisons tie-up July 1, 2014 Online grocer Ocado has reported a rise in gross sales of 15.6 per cent for the 24 weeks ended 18 May, broadly in line with what had been expected. Analysts at Deutsche Bank had forecast that Ocado would report that gross retail sales in the second quarter grew by 15.3 per cent, compared to 18 [...]
Morrisons ex-treasurer and head of tax Paul Coyle sentenced to prison for insider trading March 3, 2015 The former group treasurer and head of tax at Morrisons has been sentenced to one year in prison for insider trading. The case, which brought by the Financial Conduct Authority (FCA), charged Paul Coyle with two counts of insider trading. Coyle was suspended from Morrisons back in January. Coyle pleaded guilty to both counts and [...]
As Ocado posts a half-year profit, will the business now go from strength to strength? July 1, 2014 Jonathan Jackson, a partner and head of equities at Killik & Co, says Yes. Ocado offers a unique way to play the expected strong growth in the UK online grocery market. The group offers investors the potential to benefit from its industry-leading intellectual property, built up over 13 years of investment in technology, to more [...]
Retailers slammed for “dodgy” discounting practices in super-complaint to CMA April 21, 2015 Retailers could face an investigation into their discounts and promotional activity after consumer campaigning group Which filed a “super-complaint” to the Competition and Markets Authority. Which claims retailers are “confusing consumers with tactics that exaggerate discounts and manipulate shoppers”, arguing they create “the illusion of savings that don't exist”. The complaint comes on the [...]
UK economy starts 2015 in good health as rate setters meet – London Report February 1, 2015 CONSTRUCTION, manufacturing and services figures for January, due out this week, are expected to show a healthy economic start for the UK in 2015. Analysts expect all the numbers, based on purchasing managers’ surveys, to be up on December’s. The Bank of England is due to meet this week to set interest rates, with no [...]
Morrisons boss goes down for insider trading March 3, 2015 THE FORMER group treasurer and head of tax at Morrisons has been sentenced to one year in prison for insider trading. The case, which brought by the Financial Conduct Authority (FCA), charged Paul Coyle with two counts of insider trading. Coyle was suspended from Morrisons back in January. Coyle pleaded guilty to both counts and [...]
Stimulus hopes in China help to send FTSE up – London Report March 30, 2015 EXPECTATIONS that more infrastructure spending and policy stimulus in China will boost mining companies yesterday sent Britain’s top share index higher. The blue chip FTSE 100 index finished 0.5 per cent higher at 6,891.43 points, after dropping 2.4 per cent last week. The index rose towards a record high of 7,065.08 set last Tuesday, but [...]
Shareholders revolt over pay at Reckitt and Ocado May 7, 2014 OCADO and Reckitt Benckiser have become the latest companies to suffer an investor backlash over pay for the most senior staff. About 20 per cent of investors in the online grocer voted against the remuneration report while 13 per cent opposed Ocado’s pay policy. A person familiar with the situation said Ocado’s board had consulted [...]
Shoppers likely to be pausing after 2014 spree – London Report March 9, 2015 BRITISH Retail Consortium (BRC) retail sales figures for February are likely to show shoppers took a pause after a spending spree in the fourth quarter of last year. The figures, due out overnight tonight, are forecast to follow similar data from the Confederation of British Industry, which showed softer spending in February. The CBI data [...]
HSBC scandal takes the spark out of the FTSE – London Report February 9, 2015 THE UK’s top share index edged lower yesterday, hurt by a fall in HSBC after the bank admitted tax failings at its Swiss unit and by softer utility stocks. The blue-chip FTSE 100 index was down 0.2 per cent, or 16.29 points, at 6,837.15 points by the close, with United Utilities, National Grid and Severn Trent [...]