Energy and bank stocks push FTSE 100 back below 5,000 September 10, 2009 THE FTSE 100 drifted lower yesterday, unable to stay above the 5,000 level as energy and bank stocks weighed heavily. It closed down by 16.62 points, or 0.3 per cent to 4,987.68, having closed above 5,000 for the first time since late September 2008 on Wednesday. “We’re taking a bit of a pause from what [...]
IS IT SUNNY SIDE UP FOR HOME RETAIL? June 11, 2009 JOHN STEVENSON KBC PEEL HUNT“Home Retail Group’s first quarter trading update has seen a notable boost to seasonal lines as Homebase at last delivers like-for-like sales growth. Argos sales were also ahead of expectations, although margins remains under pressure. We note a strong performance in toys, no doubt benefiting from the demise of Woolworths, a [...]
Home Retail Group fights off an investor rebellion over exec pay July 2, 2009 HOME Retail Group, the owner of Argos and Homebase, yesterday saw off an investor rebellion over proposed changes to pay plans at its annual shareholders meeting. A resolution to approve a new executive bonus scheme, which will see some managers paid up to 150 per cent of their salaries in cash, was passed. However, 35.7 [...]
Sainsbury’s chair faces two jobs row July 15, 2009 J SAINSBURY chairman Sir Philip Hampton yesterday faced questions over his £396,000 pay packet and whether he had enough time to be the chairman of both Sainsbury’s and Royal Bank of Scotland (RBS). One shareholder at the retail giant’s annual meeting called on Hampton to halve his pay as long as he did both jobs. [...]
Home Retail sales enjoy a sunshine lift June 11, 2009 HOME Retail Group yesterday brought some cheer to the market after its Homebase chain reported its first positive sales figures in two years. The DIY chain yesterday posted a 3.8 per cent increase in like-for-like sales for the 13 weeks to 30 May, beating market expectations. Homebase said total sales, which include those from new [...]
Home Retail sales enjoy a sunshine lift June 11, 2009 HOME Retail Group yesterday brought some cheer to the market after its Homebase chain reported its first positive sales figures in two years. The DIY chain yesterday posted a 3.8 per cent increase in like-for-like sales for the 13 weeks to 30 May, beating market expectations. Homebase said total sales, which include those from new [...]
StanChart plumps for John Peace July 2, 2009 EMERGING markets bank Standard Chartered, which has enjoyed healthy revenues and profits, confirmed yesterday it had appointed John Peace as the group’s new chairman with immediate effect. Peace, 60, is set to receive £650,000 a year and a further £500,000 in shares, which will vest over the next three years. He is also chairman of [...]
HOME RETAIL CHIEF MISSES OUT ON BONUS June 1, 2009 TERRY Duddy, the chief executive of Argos-owner Home Retail Group, saw his pay packet fall by over £900,000 last year after he failed to hit performance targets. According to the firm’s annual report, Duddy’s total remuneration in the year to end February was £858,000, down from £1.77m a year earlier. No other executives at the [...]
HOME RETAIL CHIEF MISSES OUT ON BONUS June 1, 2009 TERRY Duddy, the chief executive of Argos-owner Home Retail Group, saw his pay packet fall by over £900,000 last year after he failed to hit performance targets. According to the firm’s annual report, Duddy’s total remuneration in the year to end February was £858,000, down from £1.77m a year earlier. No other executives at the [...]
Alliance Boots woos HBOS’s Andy Hornby June 7, 2009 FORMER HBOS chief executive Andy Hornby is poised to become the new chief executive at high street giant Alliance Boot, giving him the chance to restore his reputation. Andy Hornby resigned from HBOS in October 2008, waiving a £1.6m bonus after the bank’s near collapse. Italian billionaire Stefano Pessina has been running Alliance Boots as [...]