DO YOU SHOP AT A DISCOUNT SUPERMARKET? June 26, 2012 RICHARD CORBEN MINISTRY OF JUSTICE I shop at both because of the low cost. They are cheap and also in a good location. In the town where I live we have Lidl and an Aldi, and I am satisfied with the quality. PAOLO ADRAGNA FIDESSA I shop at Lidl from time to time because it [...]
Shoppers sold on discounters to save costs June 26, 2012 AN INCREASING number of Britons are planning to switch their food shops from their usual supermarket to discounters such as Aldi and Lidl this year in an attempt to cut costs, new research shows. A survey by retail experts IGD claimed today that a third of shoppers say they will be visiting the aisles of [...]
Ocado sees shares slide as it lacks Jubilee cheer June 26, 2012 SHARES in Ocado crashed by 20 per cent yesterday after the online supermarket admitted that the Jubilee celebrations had disrupted trading and it could see a similar effect during the Olympics. The share sell-off came even as the retailer reported a four per cent increase in pre-tax profit to £181,000, in the six months to [...]
IS OCADO’S STATEMENT A SIGN OF BLEAKER THINGS TO COME ? June 26, 2012 DARREN SHIRLEY SHORE CAPITAL Whilst we recognise that we may have a reputation for perceiving Ocado from a position of caution, these are poor results with a far from compelling outlook statement. Further downgrades could be down the line, albeit we will take the luxury of waiting for Q3 before we dust off our well-used [...]
Directors of collapsed Kaupthing bank banned from senior jobs June 26, 2012 DIRECTORS of the British arm of collapsed Icelandic bank Kaupthing yesterday agreed not to hold senior banking positions in the UK during the next eighteen months, escaping a fine or further punishment. Following a three-and-a-half year investigation into Kaupthing Singer and Friedlander Limited (KSFL), the Financial Services Authority (FSA) concluded that former chief executive Armann [...]
Aviva signs life insurance deal with Tesco Bank June 26, 2012 INSURANCE giant Aviva yesterday announced a five-year deal with supermarket firm Tesco that will enable it to sell life protection to UK retail customers. The deal gives Aviva the exclusive rights to sell three simplified products through the Edinburgh-based Tesco Bank business – life insurance, over 50s life insurance and life insurance with critical illness [...]
Barclays’ South African arm Absa issues a profit warning June 26, 2012 SOUTH African bank Absa, which is majority owned by Barclays, yesterday issued a profit warning that blamed an increase in mortgage-related bad debts, sending its shares tumbling. The bank warned its first-half earnings could fall as much as 10 per cent below last year’s 4.6bn rand (£347m), causing its stock to fall by seven per cent. [...]
Toronto’s TMX stock exchange eyes European opportunities June 26, 2012 CANADIAN stock exchange operator TMX yesterday signalled its interest in further European expansion, despite the failure of last year’s attempted merger with the London Stock Exchange. Chief executive Tom Kloet last night told an audience at Canada House in Trafalgar Square: “Europe presents exciting opportunities for all parts of our business. Our London office provides [...]
UK firms lose £125bn from poor working capital management June 26, 2012 BRITISH firms have failed to free up £125bn over the last five years due to inefficient working capital management, according to research released today by accountants PwC. PwC found that if all the UK companies currently considered to have bad working capital management achieved the same standards as good performers they could have potentially generated [...]
Citi’s analysts pour oil on BP’s troubled waters June 26, 2012 THE good folk at BP can be forgiven for being a bit miffed with the bankers at Citigroup Global Markets. Citi’s analysts Alastair Syme and Michael Alsford have issued a research note that questions BP’s hopes of realising between $25-30bn for its stake in its Russian subsidiary TNK-BP. The note, entitled “Russian value-release remains a [...]
