Afren in talks to recapitalise as Seplat deal fails February 15, 2015 Struggling oil firm Afren is in rescue deal discussions with bondholders and other lenders after announcing at the end of last week that it had terminated talks with Seplat Petroleum over a potential combination. The company said it was continuing discussions with the advisers to its largest bond holders “regarding the immediate liquidity and funding [...]
Tesco Bank moves into new mortgage territory with independent brokers February 15, 2015 Tesco Bank is extending its mortgage offering to include independent brokers, with the hope of dramatically increasing its customer base. In an interview with The Telegraph this weekend, the business said it would start selling the loans through intermediaries in 2016. The bank has already shown promise in the property market – [...]
Could Archie Norman be Tesco’s new chairman? These are the runners and riders for the supermarket’s top job February 14, 2015 Archie Norman is the latest City boss to be touted as Tesco’s successor to Sir Richard Broadbent who left last year in the wake of a profit scandal. The current chairman of ITV and former boss of rival supermarket Asda where he gained the reputation of being the turnaround king, is in “active talks” with [...]
Could Archie Norman be Tesco’s new chairman? These are the runners and riders for the supermarket’s top job February 14, 2015 Archie norman is the latest City boss to be touted as Tesco’s new top boss and a successor to Sir Richard Broadbent who left last year in the wake of a profit scandal. The current chairman of ITV and former boss of rival supermarket Asda where he gained the tag of being the turnaround king, [...]
Afren ends takeover talks with Seplat after unsatisfactory offer February 13, 2015 Embattled oil producer Afren, which has been rocked by crumbling oil prices and corporate governance scandals, has ended talks with rival company Seplat after it failed to make an offer that's "satisfactory for all stakeholders". Seplat first made a play for Afren in December but it has since extended the deadline for it to make [...]
Arm Holdings’ full-year profit grows on the back of Apple iPhone sales February 11, 2015 Software design company Arm Holdings’ full year profit jumped 13 per cent to £411.3m, after the iPhone 6, holding the company’s core chip technology, enjoyed record sales. The Cambridge-based company, most known for selling microchips to smartphone giants Samsung and Apple, saw its revenue rise 11 per cent to £795.2m. Apple, one of Arm’s biggest [...]
Tesco returns to growth as Drastic Dave’s overhaul gets underway February 10, 2015 TESCO has returned to growth after one of the most turbulent years in its history, according to the latest market share figures, in a sign that chief executive Dave Lewis’s turn-around efforts are starting to pay off. Sales increased by 0.3 per cent in the 12 weeks to 1 February compared with the same time [...]
Apple becomes most valuable publicly traded company ever February 10, 2015 Apple has become the first ever publicly traded company to exceed a total value of $700bn (£459bn). Shares in the technology giant went up by two per cent to $122.02 (£79.99) at close on Tuesday, giving the company a valuation of $711bn (£466bn). This was $13.4bn (£8.8bn) higher than on Monday, and makes Apple [...]
Morrisons, Tesco, Ocado and Marks & Spencer’s share prices soar after UK food sector shows signs of growth February 10, 2015 Supermarkets led the FTSE 100 higher this afternoon, after figures revealed the grocery sector was in growth once again. Morrisons' share price had recorded the biggest gains at pixel time, rising 5.5 per cent. This was on the back of Kantar figures out this morning, showing its sales had fallen 0.4 per cent, the [...]
Tesco’s share price jumps as Kantar figures reveal the supermarket has grown sales for first time in a year – but it is still losing market share February 10, 2015 Tesco's share price jumped nearly two per cent this morning after figures revealed it had grown for the first time since January 2014. The UK's biggest retailer recorded sales growth of 0.3 per cent to £7.9bn for the 12 weeks to February 1, according to Kantar Worldpanel. But that was not enough to stem the [...]