Tesco keeps clawback of Clarke’s pay-off in sight May 21, 2015 TESCO said yesterday that it could still claw back a £1.5m pay-off made to former chief executive Philip Clarke if new evidence of misconduct during his time at the retailer came to light. Tesco was forced to suspend its own internal probe into practices that led the company overstating profits by £263m when the Serious [...]
Not all about Woodford: The best UK fund managers for your portfolio August 19, 2015 The UK economy is back to good health, so savers will want to be investing in the best British companies that can benefit from a thriving economy. We ask the experts for their favourite investment funds. NEIL WOODFORD Consistently topping lists of the most popular funds investing in the UK is the CF Woodford UK [...]
Best of the Brokers for 12 May 2015 May 11, 2015 To appear in Best of the Brokers, email your research to notes@cityam.com ELAND OIL & GAS Cantor reiterates its buy rating and 78p target price. Eland has announced that its joint venture company Elcrest Exploration and Production Nigeria has received consent from the Department of Petroleum Resources, and that Elcrest has fulfilled its obligations. UNILEVER [...]
Former Tesco chief executive Philip Clarke was paid £764,000 by the supermarket last year May 21, 2015 Ousted Tesco chief executive Philip Clarke, who had presided over a fall of nearly 30 per cent in Tesco's share price during his three years at the helm of the supermarket, was paid £764,000 by the supermarket last year. Tesco's annual report, published this morning, showed that although he stepped down in September last year, [...]
Retail sales helped by early Easter and likely to continue – London Report April 12, 2015 RETAIL sales data from the British Retail Consortium due out this week is expected to show decent sales growth due to the fact that Easter occurred at the very beginning of April this year. The report will also show that UK consumers are highly unlikely to hold back on making purchases due to the possibility [...]
FTSE off its record high as Pearson’s shares are knocked – London Report April 16, 2015 BRITAIN’S top share index slipped off record highs on Thursday, with media group Pearson underperforming after a newspaper report of a glitch in a lucrative contract. The blue-chip FTSE 100 index initially rose to an all-time high of 7,119.35 points but then edged back and closed down 0.5 per cent at 7,060.45 points. Pearson fell [...]
Women are on board in the FTSE 100, but job is not finished March 24, 2015 The number of women on FTSE 100 firms’ boards has almost doubled over the past four years, a government report released today will show. However, there is still scepticism over whether firms are boosting their numbers by bringing in female non-executive members, instead of promoting women into executive roles through their internal structures. The report, [...]
Dave Lewis admits long road ahead for Tesco recovery April 22, 2015 Tesco boss Dave Lewis admitted yesterday that he faced a larger task than expected turning around the struggling supermarket giant, as it reported the worst results in its 96-year history. Lewis – known as “Drastic Dave” for his radical overhaul of businesses at Unilever and now at Tesco – acknowledged that the task of turning [...]
Why hiring chief executives externally is better for struggling businesses April 2, 2015 It's an age-old argument: when a leader steps down, do you promote from within or bring in fresh blood? Each brings their own benefits – one has a fresh view on business and new ways of working, while the other already has a deep understanding of a company's strengths and weaknesses. Now we might have [...]
Tesco moves £90m media account to WPP’s Mediacom ending 20 years with IPG’s Initiative April 30, 2015 Tesco boss Dave Lewis has done some more kitchen-sinking, ditching the company that has been in charge of placing its advertising for the last 20 years. The beleaguered supermarket has switched its media planning and buying account – worth £90m a year – to WPP's Mediacom from IPG's Initiative after a review, MediaWeek reports. It's [...]