Tesco defends 20,000 'new' job claim
5th Mar 2012 11:49
The man in charge of Tesco's huge UK business has defended the firm's commitment to create 20,000 new jobs in 2012. Britan's biggest retailer, which already employs 290,000 staff across Britain, announced the initiative on Monday morning, saying the intention was to improve the in-store customer ex
Read moreMonday broker round-up - UPDATE
5th Mar 2012 09:03
Weir: Citi cuts to sell from neutral, shaves target to 1,850p from 1,950p. Morrison: Oriel downgrades to sell from reduce. Tesco: Oriel downgrades to reduce from hold. Sainsbury: Oriel downgrades to hold from add. Serco: Bank of America downgrades to neutral from buy. Afren: Credit Suisse rais
Read moreLondon open: Miners fall as China cuts GDP target
5th Mar 2012 08:32
- China cuts 2012 GDP target to 7.5%. - Miners drag Footsie lower early on; Glencore declines after results. - BP up after Macondo settlement. With China cutting its growth forecast to the lowest level since 2004, miners were the worst performers in early trading on Monday, dragging London's FTSE 1
Read moreLondon pre-open: China's GDP target slash hit FTSE
5th Mar 2012 07:26
City sources predict the FTSE 100 will open down 23 points from Friday's close of 5,911 as investors take heed of China's decision to cut its GDP target, slashing economic growth goals from eight percent to 7.5 percent this calander year. Last year China's economy, which is the second largest in the
Read moreTesco to create 20,000 jobs
5th Mar 2012 07:13
Supermarket giant Tesco has announced that it is to create 20,000 new jobs in the UK over the next two years through a significant investment in customer service, redeveloping existing stores and opening new ones. The firm, which already employs over 290,000 staff in the country, will invest immedi
Read moreTesco's market share continues to slip against stiff competition
28th Feb 2012 13:59
Tesco's presence in the grocery market has fallen to levels last seen seven years ago, as rival chains ramped up the competition, according to the latest industry figures from Kantar Worldpanel. In the 12 weeks to February 19th, Kantar Worldpanel said that while Tesco still retained the biggest mar
Read moreLondon close: Losses pared, but stocks still down on macro worries
22nd Feb 2012 16:32
- Risk of a Eurozone recession increase as PMIs show contraction. - Fitch downgrades Greece from CCC to C. - Rexam up 7pc after FY results, Vedanta falls 5pc after yesterday's surge. Stocks rallied in afternoon trade in London, recovering from the slump experienced in mid-morning. However, the Foot
Read moreSector movers: Rexam, DS Smith boost industrials higher
22nd Feb 2012 16:24
The general industrial sector was performing strongly today after a strong rise from FTSE 100 heavyweight consumer packaging firm Rexam provided a boost to the sector. Shares surged nearly 7% after underlying profits raced ahead of sluggish sales on the back of a better than expected performance in
Read moreLondon close: Optimistic mood ahead of Eurogroup, but risks remain
17th Feb 2012 17:10
-Merkel optimistic about Eurogroup meeting. -Miners lead gains on Footsie. -Retailer rise on economic data. London's benchmark index finished the week strongly - up 53 points on last Friday's close of 5,852 - as markets expressed confidence that the next Greek bailout can be secured on Monday. Af
Read moreFTSE 100 movers: Hopes for Greece boost stocks
17th Feb 2012 14:32
Miners were in demand today, buoyed by rising metals prices which leapt on optimism over a Greek bailout. The latest reports from the troubled country are pointing to confirmation of the European Central Bank's participation in the debt swap and an increased control over the bailout by Eurozone offi
Read moreTesco job ad 'mistake' sparks nationwide fury
17th Feb 2012 12:14
Tesco, the supermarket giant with a market cap of £25,383m, has ignited outrage across Britain with a job advert which offered prospective employees a permanent night shift - with no wages. Tesco has claimed the advert, which said the only payment would be job-seeker's allowance and expenses, was
Read moreFriday broker round-up -UPDATE
17th Feb 2012 09:09
Ashmore: HSBC downgrades to underperform from neutral. Schroders: Citi downgrades to sell from neutral. Barclays: AlphaValue downgrades to reduce from add and lowers target to 243.9p from 283.4p. Tesco: Nomura reduces target from 500p to 430p, buy rating unchanged. InterContinental Hotels: UBS
Read moreFriday newspaper round-up: Stephen Roach, Imperial Tobacco, Gold
17th Feb 2012 07:01
Stephen Roach, one of Wall Street's most prominent economists, is retiring from Morgan Stanley, the bank he joined in 1982. Mr Roach has served as the non-executive chairman for Morgan Stanley Asia since 2010, having previously worked as chief economist. He will give lectures at Yale Univers
Read moreLondon close: Losses pared after US data, Greece still a concern
16th Feb 2012 16:35
- Losses pared after US data. - Miners track metals prices lower. - European leaders weighing up ECB role in Greek aid. London's blue chip index finished in the red on Thursday but well off its intraday lows after US economic data came in stronger than expected in the afternoon. Nonetheless, concer
Read moreSector movers: Thorntons surges as retailers rise
16th Feb 2012 15:53
Food and drug retailers were on the rise on Thursday as developments in Europe's crisis prompted investors to shift away from (relatively) 'riskier' assets such as mining stocks. Sector heavyweights Sainsbury, Morrison and Tesco were among the top 10 rising stocks on the FTSE 100 in afternoon tradi
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