Ministers fail to prevent strikes due later this week June 27, 2011 TALKS to avert mass strikes later this week failed yesterday, despite the government appearing to offer a compromise to union leaders. Thousands of teachers, lecturers and other public sector workers will walk out for 24 hours on Thursday this week, forcing the closure of schools up and down Britain and disrupting government departments and courts. [...]
CITY VIEWS: JUST HOW DESTRUCTIVE WILL THE TEACHERS’ STRIKE BE FOR PARENTS? June 27, 2011 STEVE MARSHALL | HW WOOD LTD “I don’t agree with the teachers striking, however it’s relatively good timing as it’s after the exam period. The idea of parents taking over classes is ridiculous as it disrupts the parents’ working day.” CHRIS MARTIN | PRICE FORBES & PARTNERS “I think it is quite destructive. Parents won’t [...]
Ocado slumps despite profit June 27, 2011 OCADO shares took a hit yesterday, falling 9.1 per cent despite the company reporting its first profit and unveiling a deal to deliver a range from French supermarket giant Carrefour. Chief executive Tim Steiner admitted the online delivery retailer had issues with capacity but said its growth plan was on track. In the six months [...]
HMV offloads 121 Canadian stores in £2m deal with Hilco June 27, 2011 HMV has agreed to sell its Canadian business for £2m to the retail restructuring specialist Hilco UK. The struggling retailer has 121 stores in Canada. As part of the deal, HMV has agreed to retain some of the debt owed to it by HMV Canada. HMV is in the process of restructuring, having sold the [...]
ANALYST VIEWS: CAN OCADO LIVE UP TO ITS EXPANSION PLANS? June 27, 2011 CLIVE BLACK | SHORE CAPITAL In its half-year update Ocado disappointed the market. With a very challenging consumer economic environment and Waitrose’s challenge to come, we believe there are few tailwinds to support Ocado’s momentum. Hence, unsurprisingly with downgrades, we remain cautious on Ocado stock. ANNA SMEE | HUNDRED The fundamental question mark above Ocado [...]
Walker prepares a bid to take back Iceland June 27, 2011 ICELAND founder Malcolm Walker is negotiating with banks to secure the finance to buy back the frozen food retailer. Its current owner, the resolution committee of Landsbanki, needs to offload the budget chain. Walker is in negotiations with several banks, including Goldman Sachs, for a £1.5bn loan that would allow him to buy the 67 [...]
Asda joins the petrol price war June 27, 2011 ASDA yesterday cut its fuel price for the second time in a week, sparking talks of a war at the pumps. The supermarket cut 2p from the cost of a litre of petrol, taking it down to 128.7p and 132.7p for diesel. Sainsbury’s quickly matched the cut, taking 2p a litre off from last night. [...]
Jane Norman in administration June 27, 2011 TROUBLED fashion retail chain Jane Norman has collapsed into administration, closing 89 of its stores across the UK. Zolfo Cooper, the US accounting firm, confirmed yesterday that is has been appointed as administrator to the group and that discussions with potential buyers and relevant parties were still ongoing. Debenhams and Edinburgh Woollen Mills have been [...]
Wolfson sees shares plunge after warning June 27, 2011 WOLFSON Microelectronics, the Scottish chipmaker, yesterday scaled back its forecast for 2011 after its customers delayed the launch of new gadgets and sold fewer-than-expected smartphones and tablets. The warning sent shares in the Edinburgh-based company plummeting. They closed down 26 per cent at 175p, making it the biggest faller in the FTSE indices. The downgrade [...]
Chipmaker fails to cash in on iPad boom June 27, 2011 WOLFSON Microelectronics is the government’s idea of a perfect British business. It is a manufacturer; it is high-tech; it is based in Scotland; and it was spun out of the University of Edinburgh. A business in the regions that actually makes stuff, all the while demonstrating the success of Britain’s education system. A great photo [...]
