Tesco CEO: Analysts react to Dave Lewis’ shock departure October 2, 2019 Tesco chief executive Dave Lewis this morning made the shock announcement that he is preparing to step down, saying the supermarket giant’s turnaround is complete. Lewis cited personal reasons for his decision and declared that five to six years is an appropriate tenure for a chief executive. Read more: Tesco CEO Dave Lewis quits Boots [...]
Topps Tiles shares sink on fourth quarter sales dip October 2, 2019 Shares in Topps Tiles dipped this morning as the company revealed political uncertainty hurt fourth quarter trading. The tile retailer said like-for-like sales fell 1.9 per cent in the fourth quarter as uncertainty impacted consumer confidence. Shares fell 6.5 per cent this morning. Read more: Brokers urge investors to buy Topps Tiles shares as sales [...]
Greta Thunberg pokes fun at trolls over ‘helpline’ September 27, 2019 Teenage climate change activist Greta Thunberg has hit back trolls criticising her campaign by sharing a video of angry callers phoning a Greta Thunberg Helpline. The 16-year-old shared a comedy video by Australian comedian Mark Humphries that pokes fun at “adults angry with a child”. Read more: Trump mocks climate activist Greta Thunberg Sharing the [...]
Thomas Cook pension funds in talks over buyout deal September 27, 2019 Thomas Cook’s pension funds are in talks with insurers to mitigate cuts to payments for the employees of the collapsed travel firm. Chair of trustees Steve Southern has launched discussions with several parties about a buyout deal to prevent pension scheme members losing out on payments, Sky News reported. Read more: 40 per cent of [...]
Peloton shares sink on second day of trading September 27, 2019 Shares in fitness start-up Peloton sank a further four per cent today after making a disappointing stock market debut yesterday. Peloton shares were initially priced at $29 when the company listed in New York yesterday morning, but closed more than 11 per cent down at $25.75. Read more: Peloton prices float at $29 per share [...]
Wells Fargo poaches BNY Mellon chief executive September 27, 2019 Wells Fargo has named BNY Mellon boss Charles Scharf as its new chief executive. Scharf will join the firm in October, making him the lender’s third chief executive since the bank became embroiled in a sales scandal in 2016. Read more: Wells Fargo outperforms estimates as profits climb Scharf, who was chief executive at BNY [...]
London house price growth remains below UK city average September 27, 2019 House prices in London edged up 0.2 per cent in August but inflation remained below the UK average growth rate for cities of 1.9 per cent. However, mortgages for home purchases in London have been increasing slowly following the lower numbers seen since late 2014, suggesting that the decline in London housing sales has bottomed [...]
Suning buys majority stake in Carrefour China for £545m September 27, 2019 French retail giant Carrefour has sold a majority stake in its Chinese business to Suning for €620m (£545m). The Chinese retailer has bought 80 per cent of the firm’s share capital as it attempts to secure growth in online food sales and expand its number of physical stores. Read more: Kingfisher appoints Carrefour exec as [...]
Wework sells former CEO Adam Neumann’s $60m private jet September 27, 2019 Wework is reportedly preparing to sell ex-chief executive Adam Neumann’s $60m private jet after the founder was this week forced to step down from the company. Some investors said the private plane was a sign of poor corporate governance in the lead up to the firm’s delayed initial public offering, Business Insider reported. Read more: [...]
Consumer confidence edges up in September September 27, 2019 Consumer confidence grew slightly this month but remained negative overall as uncertainty continued in the run up to the 31 October Brexit deadline date. Despite the two point increase, consumer confidence was still minus 12 points in September compared to a score of minus nine in the same month last year. Read more: UK consumer [...]
