Dave Lewis admits long road ahead for Tesco recovery April 22, 2015 Tesco boss Dave Lewis admitted yesterday that he faced a larger task than expected turning around the struggling supermarket giant, as it reported the worst results in its 96-year history. Lewis – known as “Drastic Dave” for his radical overhaul of businesses at Unilever and now at Tesco – acknowledged that the task of turning [...]
Historic Tesco loss sparks share price slump: Dave Lewis has to move from “drastic” to “dynamic” April 22, 2015 2007: TESCO’S PEAK MARKET SHARE 31.7% MARKET SHARE MARCH 2015 28.4% Shares in Tesco slumped by five per cent yesterday after the retail giant capped a year of profit warnings, accounting scandals and fraud investigations by posting one of the biggest losses in corporate history. Britain’s biggest supermarket made a statutory pre-tax loss of £6.4bn [...]
Your Move: London rental prices have soared 27pc under David Cameron April 22, 2015 Residential rents in London have far outstripped the rate of inflation under the current government, according to a new report out today. Rent in the capital increased by 27.4 per cent since the last General Election, according to the latest Buy-to-Let index from estate agents Your Move and Reeds Rains. Consumer Price Inflation (CPI) increased [...]
Back to basics for Tesco: Dave Lewis’s plan has a fighting chance of success April 22, 2015 If Tesco chief executive Dave Lewis takes any pleasure in yesterday’s apocalyptic-sounding headlines, it will be the knowledge that the “kitchen sinking” is complete – surely there can be no more bad news for the retailer to announce. Such a huge loss – £6.4bn in the year to the end of February, and one of [...]
Three surprising takes from the “flash crash” trader Navinder Singh Sarao criminal complaint April 22, 2015 British trader Navinder Singh Sarao has been arrested, charged and is facing extradition to the United States over his role in the "flash crash" just under five years ago. In the early afternoon of 6 May 2010, panicked investors watched as the Dow Jones Industrial Average plunged 1,000 points in a matter of minutes. Although [...]
Day trader Navinder Singh Sarao fighting US extradition must pay £5m for bail April 22, 2015 The British day-trader accused of causing the 2010 US Flash Crash must put up £5.05m in bail money as he fights extradition to the United States over fraud charges. Navinder Singh Sarao, who ran a small futures trading company called Nav Sarao Futures based in Hounslow, is charged with several counts of fraud by the [...]
General Election 2015: Milifandom vs Cameronettes – who is winning the social media battle? (Answer: It’s much less tight than the real thing) April 22, 2015 Something is happening on Twitter…. are politicians becoming… cool? Possibly. It seems to have started with one Labour-loving AS level student's ambition yesterday to launch a campaign fighting the view that Ed Miliband's image is a problem. https://twitter.com/twcuddleston/status/590583801698463744 Her plan was good. Almost too good: https://twitter.com/Sidra_h92/status/590797834745675776 https://twitter.com/alexshilling/status/590793495692124160 https://twitter.com/twcuddleston/status/590795472962527234 https://twitter.com/twcuddleston/status/590805244206047232 [...]
Navinder Singh Sarao fights US extradition on charges over 2010 “flash crash” April 22, 2015 The British trader accused of causing the 2010 US Flash Crash is fighting his extradition to the US, as prosecutors at Westminster Magistrates Court argued he should be denied bail on the basis he may runaway. Navinder Singh Sarao, who ran a small futures trading company called Nav Sarao Futures based in Hounslow, is [...]
The great flash crash of 2010: What happened to the Dow Jones and what is Navinder Singh Sarao supposed to have done? April 22, 2015 British trader Navinder Singh Sarao has been arrested, charged and is facing extradition to the United States over his role in the "flash crash". Sarao has appeared before Westminster Magistrates and has said he will contest this. It started in the early afternoon of 6 May 2010, as panicked investors watched the Dow Jones Industrial Average [...]
Video: Here’s what Dave Lewis has to say about Tesco’s massive £6.4bn loss April 22, 2015 Tesco chief Dave Lewis has said he is not happy with the "significant" numbers in today's full-year results in which the supermarket reported record losses of £6.38bn. In a video discussing the latest figures alongside finance chief Alan Stewart, created by Tesco, when asked what's gone wrong, Lewis said the numbers were " significant" and [...]