Tesco steals Dixons Carphone chairman John Allan as Broadbent replacement
17th Feb 2015 17:30
Supermarket giant Tesco has appointed John Allan as its new chairman to replace Richard Broadbent who resigned following an accounting scandal last October. Allan, the former Deutsche Post exec who currently works as chairman at Dixons Carphone, Barratt Developments and Worldpay and as a non-executi
Read moreLondon open: Grexit fears hit UK stocks, IHG underwhelms
17th Feb 2015 08:26
UK stocks slipped on Tuesday morning on the back of concerns about a 'Grexit' as another Eurogroup meeting about Greece ended with no agreement. London's FTSE 100 was down 0.2% at 6,841 early on with Intercontinental Hotels Group (IHG) leading the decline after its annual results. A meeting of Euro
Read moreLondon midday: Markets remain slightly in the red
16th Feb 2015 12:28
UK stocks were still slightly lower come midday on the heels of weaker than forecast Japanese growth domestic product (GDP) figures, overnight, and ahead of a critical meeting of Eurozone finance ministers scheduled for the evening. Traders were watching to see if Greece's new government and the Eur
Read moreLondon open: Traders in holding pattern ahead of Eurogroup meeting
16th Feb 2015 09:13
UK stocks began the morning moving slightly lower on the heels of weaker than forecast Japanese growth domestic product (GDP) figures, overnight, and ahead of a critical meeting of Eurozone finance ministers, on Monday evening. Traders are watching to see if Greece's new government and the European
Read moreSector movers: Supermarkets lead retailers higher on upbeat grocery data
10th Feb 2015 15:09
Retailers were at the top of investors' shopping lists on Tuesday after an acceleration in UK retail sales growth lifted sentiment, while supermarkets were supported by some upbeat grocery news from Kantar. UK-listed supermarkets such as Tesco and Morrisons were making decent gains in afternoon trad
Read moreGrocery sector accelerates but Tesco and Sainsbury's lose share, says Kantar
10th Feb 2015 09:27
Tesco returned to growth for the first time in a year, according to fresh data from Kantar Worldpanel, but lost market share as the sector grew as a whole, with Sainsbury losing its position as the second largest retailer by market share to Asda. The price war between supermarkets that has now seen
Read moreTesco appoints bank for Dunnhumby sale, rebuffs Thai Lotus unit bid
10th Feb 2015 08:22
As it looks to ease pressure on its balance sheet, Tesco has reportedly appointed Goldman Sachs to pursue a disposal of a significant stake in its customer data analysis subsidiary Dunnhumby, but has recently turned down an approach for its Thai business. The supermarket group has, according to a so
Read moreLondon pre-open: Weak start expected as Greek concerns mount
5th Feb 2015 07:28
Optimism surrounding Greece, which sent UK markets to a five-month high earlier this week, quickly faded on Thursday with stocks expected to drop early on. The cautious start also comes ahead of a monetary policy decision in the UK, with a statement from the Bank of England due out at noon. City so
Read moreTesco could face large fine from GCA investigation
5th Feb 2015 07:15
As it awaits the findings of a Serious Fraud Office probe, Tesco is facing a potential fine of over £600m after a new investigation was launched by Christine Tacon, the government's Groceries Code Adjudicator, who warned other supermarket groups may also be reviewed. The retailer is suspected of bre
Read moreTesco pays £2.2m settlements to former CEO and CFO
3rd Feb 2015 12:00
Tesco said on Tuesday it has agreed to pay £2.2m to former directors after the payments have been suspended over an investigation into its accounting practices in the wake of an overstatement its profits by £263m. The FTSE 100 supermarket group has decided to pay former chief executive Philip Clark
Read moreSunday newspaper round-up: Lloyds, BT, Standard Chartered
1st Feb 2015 13:33
Lloyds Banking Group is preparing to pay a dividend for the first time since it was bailed out by taxpayers, the Sunday Telegraph reported. The board will sign off the group's annual results and then ask the Bank of England permission to pay a dividend before announcing results on February 27th. Llo
Read moreLondon open: Stocks unchanged ahead of Eurozone CPI, US GDP
30th Jan 2015 08:27
UK stocks opened more or less flat on Friday as investors treaded cautiously ahead of some key economic data, including consumer price figures in the Eurozone and growth estimates in the States. London's FTSE 100 was down just 0.04% at 6,808 early on. The release of the Eurozone consumer-price inde
Read moreThursday newspaper round-up: Tesco, Mark Carney, McDonald's...
29th Jan 2015 06:00
Tesco chief executive Dave Lewis revealed the names of 43 Tesco stores that will be closed down in an attempt to reduce overheads, said the City A.M. The chain revealed it will close 30 convenience stores, including 18 express outlets and 12 inner-city Metro shops. The closures are spread across the
Read moreWaitrose to open 14 stores and create 2,000 jobs
27th Jan 2015 19:38
Supermarket chain Waitrose has confirmed plans to open an additional 14 stores in the UK, which would create 2,000 jobs. The group, which is owned by John Lewis, said the first of the new stores will open in the spring and that the new facilities included seven large supermarkets, while the remainin
Read moreUK dividend payouts to increase in 2015, boosted by surging dollar
26th Jan 2015 15:26
Companies in the UK are set to pay out more on dividends this year, according to Capita's January dividend monitor, with Big Oil remaining a sector where the dividend is sacrosanct. Firms will boost their regular dividends by 5.7% to reach £83.6bn and may even top 7%, were it not for Vodafone, whic
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