OFT to be left out of pocket by Threshers November 8, 2009 THE Office of Fair Trading is set to be one of the biggest casualties from the demise of high street off-licence firm First Quench Retailer, as it is owed millions of pounds. First Quench Retailing, the parent company behind Threshers and Wine Rack off-licences, was one of six firms fined £173.3.m by the OFT last [...]
Banks take FTSE 100 lower after US figures disappoint October 15, 2009 THE FTSE 100 closed lower on yesterday as banks fell after US banking earnings failed to meet some expectations, while miners tracked metal prices down. The index ended down 0.6 per cent, or 33.15 points at 5,222.95, retreating from a 56-week closing high set on Wednesday. Although third-quarter earnings from Goldman Sachs and Citigroup came [...]
Sales grow at Morrisons November 19, 2009 WM Morrison yesterday unveiled strong third quarter sales, a day after the City and investors were left reeling from the shock departure of its chief executive Marc Bolland. The group said like-for-like sales rose 4.3 per cent in the 13 weeks to 1 November, just below expectations, as slowing food inflation pegged back growth from [...]
THE TIPSTER GOOD RESULTS BUT OUTLOOK QUESTIONED November 8, 2009 WE ARE still in earnings season and mobile telecoms giant Vodafone is due to report its interim results tomorrow. Last week’s comments by Cisco that technology spending is on the up may be the sort of signal to encourage further support for the company, but with competitor Orange launching their UK iPhone sales on the [...]
Tesco set to report slower sales growth October 4, 2009 TESCO, Britain’s biggest retailer, is set to report slower underlying UK sales growth than rival J Sainsbury for the fifth quarter in a row this week, alongside a small rise in first-half profit. But analysts expect Tesco to flag a stronger second-half profit performance, and some see signs it is beginning to close the gap [...]
Sir Stuart again failed to tell the City his succession plans November 4, 2009 ONE of the most hotly-debated succession sagas looks set to keep on rolling as M&S yesterday shunned questions about how the search for Sir Stuart Rose’s successor was progressing. Rose furiously batted away questions on the M&S’s succession plans, despite it being a concern weighing heavily on many analysts’ minds. “I’m not answering questions on [...]
ARE THE QATARIS SIGNALLING THAT THE RECENT RALLY IN BARCLAY’S SHARE PRICE IS OVER BY SELLING UP? October 20, 2009 KEITH BOWMAN HARGREAVES LANSDOWNI would say that the temptation to book over $1bn in profit became too great to ignore. Particularly set against a backdrop of similar funds that lost out on what they thought were bargain banking stocks before the crisis. It is a great opportunity to take profit but still keep a stake. [...]
Bid talk pushes Dana higher as FTSE 100 loses its grip November 17, 2009 A retreat in miners and banks offset strength in defensive utilities and food retailers yesterday, pushing the FTSE 100 lower by 0.7 per cent lower, ending four consecutive sessions of gains. The index closed 36.74 points lower at 5,345.93, giving back some gains from the previous session when shares hit a 14-month closing high. Mid-cap [...]
THE TIPSTER RETAILERS TRY TO BEAT THE RECESSION November 15, 2009 SO FAR, so good for the British retailers, it would seem. The likes of Marks&Spencer, Next and J Sainsbury have all released better-than-expected third quarter figures, and the latter is once again looking like an attractive proposition. Although lower food inflation might be expected to hit bumper sale figures, both the supermarket and its rival [...]
WHAT THE OTHER PAPERS SAY THIS MORNING November 22, 2009 THE SUNDAYSThe Sunday TelegraphWOMEN DIRECTORS EARN 50PC LESS THAN MENFemale board directors in the FTSE 350 are being paid half as much as their male counterparts, new research has found. The average female board director took home £178,246 in salary, bonuses, benefits and pension contributions in the 2008-09 financial year, while the average male director [...]