Tuesday newspaper round-up: BP, RBS, ECB
4th Mar 2014 06:54
The fifth appeals court of New Orleans ruled on Monday that BP will have to restart what the company terms "absurd" payouts to people and firms who were not even negatively impacted by the 2010 Gulf of Mexico oil spill. BP had argued that a compensation committee had misinterpreted the original agre
Read moreSunday newspaper round-up: RBS, AO World, Tesco
2nd Mar 2014 10:52
Royal Bank of Scotland is working on a plan to merge its troubled Ulster Bank arm with one of the Irish business's rivals, the Sunday Times reported. RBS is looking at merging Ulster Bank with banks such as Permanent TSB or the Irish arms of Danske Bank or KBC. Combining with one of these businesses
Read moreLondon close: FTSE ends in the red, Tesco weighs heavily
26th Feb 2014 16:26
- FTSE ended 31 points lower - US new home sales higher than expected - Tesco fails to impress investors techMARK 2,899.47 -0.12% FTSE 100 6,799.15 -0.46% FTSE 250 16,471.66 -0.34% UK markets finished today's session in the red, hit by a combination of weaker sentiment, ex-dividends, and concerns
Read moreFTSE 100 movers: Tesco marked down by analysts
26th Feb 2014 14:35
Engineering solutions provider Weir soared to the top of the risers today after it posted an in-line set of full-year results, as a positive performance by the Minerals division helped to offset an otherwise "challenging" year for the group. Looking ahead, the company believes it will return to unde
Read moreSector movers: Tesco leads food retailers lower
26th Feb 2014 14:09
Food retail stocks slumped as Oriel Securities downgraded Tesco after the supermarket chain launched 200m pounds of price cuts and said it was stepping up its store revamp programme. Oriel, which reduced Tesco from a 'buy' to an 'add' last October, lowered its recommendation again to 'hold' with a
Read moreBroker tips: Vodafone, Tesco, Taylor Wimpey
26th Feb 2014 12:50
Barclays sees several challenges ahead for Vodafone post-Verizon Wireless, not least increasingly tough European mobile trends for the group and how it can make best use of its underleveraged balance sheet. More intriguingly, there is the ongoing press speculation that a bid by AT&T is looming for
Read moreOriel Securities slashes recommendation on Tesco
26th Feb 2014 11:45
Broker Oriel Securities has downgraded Tesco after the troubled supermarket chain launched 200m pounds of price cuts and said it was stepping up its store revamp programme. Oriel, which downgraded Tesco from a 'buy' to an 'add' last October, reduced its recommendation again to 'hold' with a 325p ta
Read moreWednesday broker round-up UPDATE
26th Feb 2014 08:54
Anglo Pacific: FinnCap cuts target price from 279p to 216p, downgrades to hold. Ashmore Group: UBS reduces target price from 405p to 355p, while leaving its buy recommendation unchanged. Jefferies cuts target price from 475p to 375p, while its buy recommendation is kept. Barclays lowers target pric
Read moreWednesday newspaper round-up: Tax-cuts, Tesco, Ukraine
26th Feb 2014 06:50
George Osborne, chancellor, is under pressure from Tory MPs to use next month's Budget to announce pre-election tax cuts to offset the prospect of a politically damaging rise in interest rates before polling day. One Tory MP said the idea of the Bank of England raising base rates from a historic low
Read moreTesco investor conference on accelerating turnaround drive - LIVE
25th Feb 2014 14:24
Conference begins. 14:20: Chief Executive Philip Clarke: New store space in Europe, Ireland and the UK will be cut. Our performance has not been what we wanted it to be. Our large stores have been dragged back by over space in consumer electronics and under-space in clothing. We are going to go fa
Read moreTesco launches 200m pounds price war, speeds up shop refits - UPDATE
25th Feb 2014 14:13
Troubled British supermarket group Tesco on Tuesday launched a fresh 200m pounds price war and unveiled plans to speed up store revamps to kick-start its lacklustre turnaround drive. Tesco, which launched the programme of price cuts yesterday, said it wanted to eliminate "frivolous" promotions and
Read moreTesco in talks over sale of Turkish operations
24th Feb 2014 16:00
Supermarket chain Tesco is in talks with a number of companies over the potential sale of its Turkish arm. Trading in the country has been disappointing, with second quarter underlying sales down 10.7%. The group first opened stores there in 2003. In a statement released to the Istanbul stock ex
Read moreOriel Securities says Mothercare may face bid after CEO quits
24th Feb 2014 13:20
Oriel Securities said troubled baby goods retailer Mothercare could face a takeover bid after Chief Executive Simon Calver unexpectedly quit. Mothercare said on Monday that Calver, who joined the business in April 2012, was leaving with a £294,540 pay-off, but no bonus for 2014. The group, which w
Read moreSunday newspaper round-up: RSA, RBS, BSkyB
23rd Feb 2014 14:15
Stephen Hester, the new Chief Executive of RSA Insurance, is preparing an 800m pounds rights issue to strengthen the company's balance sheet, the Sunday Times said. Hester, who joined RSA three weeks ago, is expected to announce the capital raising with annual results on February 27th. The fundraisi
Read moreTesco considering merger in Turkey
21st Feb 2014 13:24
Supermarket giant Tesco is reportedly considering a tie-up with a retail group in Turkey in an effort to scale back its exposure to the European nation and put more focus on its struggling UK business. According to press reports on Friday, the UK grocer has held talks with BC Partners about combin
Read more