Morrisons’ hunt for a new chief moves closer to check-out with ex-Tesco boss David Potts in pole position February 22, 2015 Morrisons is close to announcing the appointment of a new chief executive, with former Tesco executive David Potts said to be in pole position for the job. The Bradford-based supermarket group is expected to make an announcement within weeks after last month ousting Dalton Philips, who failed to revive its fortunes. Potts was Tesco’s longest [...]
Apple faces poaching suit February 19, 2015 Electric car battery maker A123 Systems has launched legal action against Apple, alleging that it had poached its engineers to build a large-scale battery division. Analysts believe Apple is looking to design an electric car of its own. A123 is a pioneering industrial lithium-ion battery maker, backed by a $249m (£169m) US federal grant. It [...]
Can you believe it? Rexam share price jumps as board recommends takeover offer by Ball Corp February 19, 2015 The board of Rexam – supplier of quality can to the like of Red Bull and Carlsberg – has recommended a takeover by US rival Ball Corp. The offer comprises 407p in cash and 0.04568 of a new share in Ball, representing in aggregate 628p per Rexam ordinary share. It's thought to value Rexam at [...]
Centrica share price dives as it cuts dividend by 30pc after £1bn net loss February 19, 2015 The figures Share in Centrica fell eight per cent after it was left reeling from the double hit of a warm year and falling oil prices. The company has been forced to write down the value of its oil and gas assets and has decided to cut its dividend by 30 per cent, while making [...]
Former Apple boss quits role at Monsoon after two years February 18, 2015 Monsoon chief executive John Browett has quit after two years in the job to pursue other opportunities. The former boss Dixons Retail has had an eventful few years after leaving the electricals giant in 2012 to join Apple as head of retail. However, his stay at Apple’s US headquarters was short-lived and he [...]
Tesco investors non-plussed by John Allan as chairman – he’s no Archie Norman say analysts February 18, 2015 Something to tick off Dave Lewis’ Tesco recovery to-do list: – appointing a new chairman. The milestone was finally passed after a near four-month search with the naming of Dixons Carphone’s John Allan as Richard Broadbent’s successor. What’s that done to Tesco shares? Not much. They edged up slightly in early trading and are [...]
Tesco hopes Allan is the key to resolving its lingering problems February 17, 2015 John Allan turned around Dixons, but can he now reboot Tesco? ONE sat on the board of high street electricals giant Dixons Carphone while the other has already led a successful turnaround of supermarket Asda. Both Archie Norman and John Allan were considered strong contenders for the chairman role at Tesco, but last night the [...]
Finance firms shun bond market as likes of Apple take the lead February 17, 2015 APPLE’S Tim Cook has rolled out four jumbo bond issues in the past two years – and according to new research published yesterday it seems he’s not alone. Figures from the influential Organisation for Economic Co-operation and Development (OECD) show the number of non-financial companies issuing corporate bonds has jumped 77 per cent since 2008, [...]
Here’s everything we know about Tesco’s new chairman, John Allan February 17, 2015 After a four-month search, Tesco has finally revealed who will replace Sir Richard Broadbent as chairman. John Allan was chosen after “a deep and thorough process” to lead the supermarket's board as it attempts to recover from a wretched 2014. Allan, who commented that he was “very pleased to be taking on this role at such a [...]
Tesco appoints former Dixons Carphone deputy as new chairman February 17, 2015 Tesco has named John Allan as its next chairman following Richard Broadbent's decision to step down from the role. The beleaguered supermarket has turned to current Dixons Carphone deputy chairman Allan who will step into the role on 1 March. He will pay be paid a fixed salary of £650,000 for three years, inclusive of [...]