Morrisons is takeover target for private equity consortium, rumours say
18th Feb 2016 12:04
(ShareCast News) - Supermarket group Morrisons could be a £6.4bn takeover target for Tesco or a private equity consortium led by Permira, according to newspaper reports. Following Sainsbury's agreed acquisition of Argos, rumours around an imminent 275p offer for Wm Morrison were both "rife" an
Read moreSunday newspaper round-up: Bank funding, North Sea oil tax, HSBC, Anglo
14th Feb 2016 17:39
(ShareCast News) - The European Central Bank and its London counterpart have held talks after the Bank of England raised the alarm over the potential threat of a funding crisis in the banking sector. Three senior London bankers have told the Sunday Times that their normal efforts to raise money from
Read moreMorrisons' price campaign faces new Aldi threat
12th Feb 2016 15:55
(ShareCast News) - Discounter Aldi has reacted to Morrisons' recent ramping up of price competition with a wave of price reductions and a new advertising campaign. After Morrisons' launched its new 'price crunch' campaign at the start of the month, Aldi said it has cut swathes of prices "in order to
Read moreTesco buys out Harris & Hoole coffee chain
10th Feb 2016 14:51
(ShareCast News) - Supermarket retailer Tesco has bought the remaining stake in coffee chain Harris & Hoole it did not already own. When Tesco picked up a 49% stake in the artisan coffee business three years ago, the deal included an option to buy the rest. A spokesman for Tesco said: "We can confi
Read moreFTSE 100 movers: Housebuilders lead market higher
10th Feb 2016 14:26
(ShareCast News) - The FTSE 100 was set to turn things around on Wednesday, with the blue chip market up 48.39 points (0.86%) to 5,680.58 by mid-afternoon. Housebuilders were on the rise, including Taylor Wimpey, Berkeley Group Holdings and Barratt Developments, after sector peer Bellway reported st
Read moreFTSE 100 movers: Miners drive market down, led by Antofagasta
9th Feb 2016 14:04
(ShareCast News) - The FTSE 100 sank further on Tuesday, with the blue-chip market down 75.98 points (1.34%) to 5,613.38 by mid-afternoon. Antofagasta led the fallers after Goldman Sachs downgraded the stock to 'sell' from 'neutral' and slashed the price target to 250p from 440p on the back of lower
Read moreLemon and sugar UK's top pick for Pancake Day
9th Feb 2016 11:21
(ShareCast News) - More than half of Britons were partial to the classic lemon and sugar pancake, according to a new survey from Tesco. The UK was set to make millions of pancakes on Tuesday - Pancake Day, or Shrove Tuesday - and the nation's largest food retailer said 52% of the country was likely
Read moreGrocery sales return to slow growth after disappointing Christmas
9th Feb 2016 08:08
(ShareCast News) - After a disappointing Christmas sales period, the British grocery market has returned to slow growth according to Kantar Worldpanel. Figures for the 12 weeks to 31 January 2016 show take-home sales increased 0.2% compared to the previous year, driven by New Year resolutions to eat
Read moreTesco lifts pay for store staff but cuts overtime and Sunday rates
2nd Feb 2016 13:58
(ShareCast News) - Supermarket Tesco announced a pay rise of up to 3.1% for staff at its UK stores, bringing the hourly rate to £7.62 per hour, by cutting overtime and pay for working on Sundays and Bank Holidays. Tesco said the two-year deal, which kicks in on 3 July across all age groups, includes
Read moreSunday newspaper round-up: Sainsbury-Home Retail, RBS, IHG, Ladbrokes
31st Jan 2016 16:24
(ShareCast News) - As Tuesday's takeover deadline approaches, Sainsbury's has made a bid of 150p per share for Argos owner Home Retail Group, which is shy of the 170p apparently being demanded. The Sunday Telegraph cited sources that suggested a middle-ground 160p bid would be enough to announce the
Read moreTesco "seriously breached" industry code, UK watchdog says
26th Jan 2016 10:02
(ShareCast News) - Supermarket Tesco "seriously breached" a legally-binding code to protect suppliers by prioritising its own finances rather than treating its suppliers fairly, the UK grocery watchdog said on Tuesday. Following a review prompted by the company's £326m accounting black hole, the Gro
Read moreTuesday newspaper round-up: UK power, Tesco, Google, OPEC
26th Jan 2016 07:20
(ShareCast News) - Mario Draghi has launched a staunch defence of the European Central Bank's aggressive monetary easing, in a fresh bid to counter criticism of the policy. The ECB president signalled last week that his central bank was prepared to cut rates and expand its quantitative easing progra
Read moreBroker tips: Tesco, Kingfisher, Lloyds
25th Jan 2016 15:16
(ShareCast News) - Tesco may be slapped with a fine of up to £500m by the Serious Fraud Office over its £326m accounting black hole, according to Cantor Fitzgerald analyst Mike Dennis. He said the SFO's findings, possible fines and trading restrictions on Tesco, after an investigation launched in 2
Read moreFTSE 100 movers: Investors not happy with Kingfisher's transformation programme
25th Jan 2016 14:05
(ShareCast News) - The FTSE 100 started the week in the red, with the blue chip market down 21.22 points (0.36%) to 5,878.79 by mid-afternoon Monday. Shares in Kingfisher dropped after the B&Q owner announced a five-year transformation programme on Monday, saying it plans to deliver a £500m sustaina
Read moreTesco in danger of £500m accounting scandal fine, says Cantor
25th Jan 2016 13:37
(ShareCast News) - Tesco may be slapped with a fine of up to £500m by the Serious Fraud Office over its £326m accounting black hole, according to Cantor Fitzgerald analyst Mike Dennis. He said the SFO's findings, possible fines and trading restrictions on Tesco, after an investigation launched in 20
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