Tesco Banking to open Newcastle call centre
28th Oct 2009 09:30
Global retailer Tesco’s move into banking continues apace, with the company announcing its banking division will set up a customer services office in Newcastle. The office will create 1,000 new jobs in the north-east of England, a favoured location for customer service centres. ‘The north-east of
Read moreLondon close: Footsie finishes firmer
21st Oct 2009 16:57
After an up and down day, London's blue-chip index finished the day as it started it, in positive territory. Stocks needed the help of a firm start on Wall Street, however, to state a late rally. US shares opened higher after investment bank reported its first quarterly profit in a year after three
Read moreBroker tips: Tesco, Home Retail, Shire
21st Oct 2009 13:12
The international business of Tesco is undervalued, according to Nomura Securities, which reckons the UK-based retailer has the potential to effectively create a 'new company' over the next five years. Nomura believes 'Tesco will effectively create "a new company" with sales of £27.3bn, EBITDA of £
Read moreBroker snap: Tesco's international business undervalued
21st Oct 2009 12:12
The international business of Tesco is undervalued, according to Nomura Securities, which reckons the UK-based retailer has the potential to effectively create a 'new company' over the next five years. Nomura believes 'Tesco will effectively create "a new company" with sales of £27.3bn, EBITDA of £
Read moreLondon midday: Blue chips turn lower
21st Oct 2009 12:03
Footsie's early drift has given way to more substantial falls as US futures point to a lower opening on Wall Street. Smiths Group and BSkyB are the highest profile stocks in the red as a result of trading in ex-dividend status today. Also on the downturn is London Stock Exchange, after Goldman Sach
Read moreFTSE 100 movers: Goldman downgrade knocks LSE
21st Oct 2009 11:50
Blue chips have had a tough day so far with most eyes on the US results season. LSE is no exception, after Goldman Sachs removed it from its Conviction Buy list and downgraded its rating to neutral. Broker comment had a more beneficial impact in the retail sector where Tesco led the supermarket sub
Read moreLondon open: Quiet start in London
21st Oct 2009 08:54
London's top stocks are moving sideways pretty much despite a late burst on Wall Street and better than expected results after hours from US web giant Yahoo! UK company news is less dramatic. Home Retail reported a 3% rise in half year sales and said trading at both Argos and Homebase exceeded its
Read moreSector movers: Sainsbury bid talk lifts food retailers
20th Oct 2009 10:40
Shares in J Sainsbury are lifting the food and drug retail sector higher amid talk that Qatar's sovereign wealth fund will use the £1.3bn proceeds from the sale of a stake in the bank Barclays to make an offer for the supermarket. Peers Morrisons and Tesco are also higher. Not all is well in the f
Read moreTesco non-exec buys a big stake
16th Oct 2009 16:50
Harald Einsmann, a non-executive at Tesco, spent £184,000 on shares in the supermarket giant late yesterday afternoon. He bought 48,400 shares, paying just over 380p a time. Einsmann joined the board of Tesco in 1999, the same year he stepped down as president of US consumer goods giant Procter an
Read moreSector movers: Car sector lower as GKN stalls
15th Oct 2009 14:57
The car and car parts sector is lower after automotive and aerospace engineer GKN posted a 3% fall in sales in the three months to September 30 as markets remained tough. Without the impact of its acquisition of Filton, which was completed in January, and currency benefits, sales would have fallen
Read moreWednesday newspaper round-up: Royal Bank of Scotland, Vauxhall, Tesco
14th Oct 2009 06:20
Royal Bank of Scotland is exploring a government-backed plan to give up all of its 312 RBS-branded branches in England and Wales, in a radical move to satisfy Brussels state aid authorities. Officials close to the negotiations say the plan - mediated by the Treasury - is well advanced and is the fa
Read moreLondon close: Retailers weigh on Footsie
13th Oct 2009 16:46
A poor performance from US shares dragged Footsie into the red and the leading index finished the day with substantial losses. Retailers were out of sorts despite some moderately optimistic news from the British Retail Consortium (BRC) concerning retail sales. The BRC said annual retail sales growt
Read moreLondon afternoon: Retailers sag after sales data
13th Oct 2009 14:26
Leading shares remain mixed, with the Footsie easing back into the red over the lunchtime session. Retailers are out of sorts despite some moderately optimistic news from the British Retail Consortium (BRC) concerning retail sales. The BRC said annual retail sales growth in September accelerated to
Read moreAvisen bags Tesco contract
12th Oct 2009 08:08
Performance management specialist Avisen said supermarket chain Tesco has signed up for its System's Performance Analyzer. "Tesco has selected Acorns System's Performance Analyzer to enhance its financial reporting capability," said Avisen in a company statement. Commenting on the deal, CEO Marcus
Read moreSunday tips round-up: REG, Randgold Resources, Tesco
11th Oct 2009 11:46
Brokers estimate that the farms that wind farm operator Renewable Energy Generation already runs are worth £30m while those it intends to construct in the next few months are valued, even now, at about £13m. Add in the £50m-of cash that the company will have once the Canadian sale is completed and
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