Wednesday preview: Tesco and Sainsbury go head to head
4th Oct 2011 17:54
Tesco's interim figures on Wednesday are eagerly awaited, given the recent change in strategy of the company in favour of an "every day low prices" approach rather than a promotions-led policy, such as the double Clubcard points offers the firm has provided in the past. The interesting question is
Read moreLondon close: Greek worries continue as Footsie drops 1%
3rd Oct 2011 16:48
Losses in London were trimmed by the end of trade on Monday after a relatively better start on Wall Street, as US benchmarks fell by just a few points. Nevertheless, concerns over the Greek deficit continued to weigh on sentiment in Europe, with major markets across the continent suffering falls of
Read moreUPDATE: First broker tip round-up of the morning
30th Sep 2011 08:48
Intertek: UBS downgrades to ´sell´ from ´neutral´, cuts target to 1750p from 2000p. Tate&Lyle: UBS keeps at ´neutral´, raises target to 615p from 595p. Carphone: Alpha Value upgrades to 'add' from 'reduce'. IMI: Alpha Value upgrades to 'buy' from 'add'. Astra Zenaca: Seymour Pierce stays at 'r
Read moreWednesday newspaper round-up: "Stupid" US, "stupid" Miliband, Google
28th Sep 2011 06:26
Germany and America were on a collision course on Tuesday night over the handling of Europe's debt crisis after Berlin savaged plans to boost the EU rescue fund as a "stupid idea" and told the White House to sort out its own mess before giving gratuitous advice to others. German finance minister Wol
Read moreSector movers: Tesco boosts retailers after launch £500m price offensive
23rd Sep 2011 16:14
The food and drug retailers were the best performers on Friday afternoon, with Tesco leading the advance. The supermarket giant revealed on Thursday details of its 'Big Price Drop', a £500m price offensive which it claims will provide immediate help to struggling families. "From Monday, Tesco will
Read moreTesco's 'Big Price Drop' angers rivals
23rd Sep 2011 10:18
Supermarket giant Tesco has revealed details of its 'Big Price Drop', a £500m price offensive which it claims will provide immediate help to struggling families. "From Monday, Tesco will reduce the prices of more than 3,000 products that customers need to buy every day - such as milk, bread, fruit
Read moreTesco price cut offensive seen hurting Ocado most
22nd Sep 2011 10:21
Supermarket giant Tesco has summoned all of its store managers into work this Sunday to get ready for a price-cutting offensive. News of the initiative sent shares in supermarkets - and even more notably, Ocado, the company that delivers groceries from the upmarket supermarket Waitrose - lower yes
Read moreUPDATE: Thursday broker round-up
22nd Sep 2011 09:55
Burberry: AlphaValue downgrades to sell, target cut from 1,297p to 1,302.5p. Anglo American: Societe Generale upgrades to buy, target cut from 3,250p to 3,000p. TUI Travel: Numis Securities downgrades to hold, target decreased from 180p to 160p. Aegis Group: Barclays downgrades to equal-weight, t
Read moreJ Sainsbury appoints Marketing Director
10th Aug 2011 13:33
Sainsbury's has appointed Mark Horgan, currently the managing director of MasterCard's Access Pre-paid Worldwide subsidiary, as its new Marketing Director. In his role at Sainsbury's, Horgan will lead Customer Insights and Loyalty, Brand Communications and Non-Food Marketing. It is expected that
Read moreTesco cheesed off at price fixing fines
10th Aug 2011 11:52
The Office for Fair Trading (OFT) has fined supermarkets and dairy groups a total of nearly £50m for fixing cheese and milk prices in 2002 and 2003. It has imposed fines totalling £49.51m on all of the big four supermarkets, Tesco, Sainsbury's, Asda and Safeway (which was bought by Morrisons) and f
Read moreTesco finance director adds more to his basket
9th Aug 2011 12:54
Laurie McIlwee, finance director at Tesco, Britain's biggest retailer, has bought 13,617 ordinary shares at 364.8p. The £49,675 purchase brings McIlwee's total number of shares to 340,215. McIlwee joined the board at Tesco at the start of 2009, having undertaken previous roles within the comp
Read moreSainsbury's finance boss heads to the till
8th Aug 2011 15:39
John Rogers, chief financial officer at J Sainsbury, has purchased 17,000 shares at 285.7p, at a total value of £48,569. The purchase increases his stake in the company from 175,342 to 192,342 shares. Rogers, who has worked for Sainsbury's since 2005, was appointed to the board in July last year
Read moreManroy chairman buys again
1st Aug 2011 17:33
Andrew Blurton, the chairman of machine gun maker Manroy, has been buying again, spending £55,000 on shares. The company announced today that he bought another 50,000 shares, paying 105p a time and bringing his total stake to 345,000, or 2.7% of the company. The latest buy comes after purchases to
Read moreThursday newspaper round-up: Banks, Bernanke, BSkyB
14th Jul 2011 06:27
Britain's banks have lined up to oppose reforms proposed by the Government's Independent Commission on Banking (ICB). In submissions to the ICB, the "big four" banks - Barclays, HSBC, Royal Bank of Scotland and Lloyds Banking Group - raised objections or tried to buy time on the ICB's proposals. The
Read moreGreencore Foods gobbles up Uniq for £113m
12th Jul 2011 09:46
Greencore Foods has offered to buy British convenience foods supplier Uniq from a pension fund that owns 90.2% of the company for 96p-a-share, or £113m, sending Uniq's shares soaring 21%. Greencore Foods, which is a wholly-owned subsidiary of Irish chilled prepared meals maker Greencore Group, is p
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