Ocado sales increase but jury still out January 10, 2011 ONLINE grocer Ocado yesterday reported a 27 per cent sales rise in the four weeks to Christmas – but some analysts still questioned the company’s progress following a troubled float. The firm posted gross sales of £50.9m for the period, helped by more customers shopping online instead of going to supermarkets in freezing weather conditions. [...]
Debenhams: our market share is up January 10, 2011 DEBENHAMS claimed it was winning market share from rivals as it posted a small rise in sales over the key Christmas trading period that was affected by December’s snow. Sales at stores open more than a year increased 0.3 per cent including VAT sales tax in the 19 weeks to 8 January. Chief executive Rob [...]
Morrisons sees slim Xmas lift January 10, 2011 WM MORRISON Supermarkets posted a modest rise in Christmas sales yesterday, held back by disruption from severe weather and a tough consumer backdrop. Britain’s fourth-biggest grocer behind market leaders Tesco, Asda and J Sainsbury said sales at stores open at least a year rose one per cent, excluding fuel and VAT, in the six weeks [...]
Bid battle for S&N eyed as shares rocket January 10, 2011 SHARES in medical supplier Smith & Nephew rose 9.5 per cent yesterday to close at 712p, after rumours of a takeover bid by Johnson & Johnson flooded the market. At its peak during morning trading the stock hit an all-time high of 739p. The fluctuations followed reports that Smith & Nephew was the target of [...]
Takeover Panel sets deadline on De La Rue January 10, 2011 THE Takeover Panel yesterday issued a “put up or shut up” order on Oberthur Technologies, the French smart card maker eyeing a purchase of UK money-printer De La Rue. The order gives Oberthur until 7 February to decide whether or not it will make a formal offer for the company. Oberthur made an indicative offer [...]
A merger makes sense but J&J needs to come up with a higher price tag January 10, 2011 A MERGER between Smith & Nephew (S&N) and Johnson & Johnson (J&J) would certainly make sense. The orthopaedics business has struggled in the wake of the recession, and S&N is no exception. Sales at its flagship hip reconstruction business fell in the first nine months of 2010 compared to a year earlier, largely due to [...]
Moment of truth looms for Hammers manager Grant January 10, 2011 WEST HAM UTD vs BIRMINGHAM UNDER-SIEGE West Ham manager Avram Grant has put talk of the sack on hold as he prepares for a 24 hours that could make or break his tenure. Grant leads the Hammers into tonight’s Carling Cup semi-final first leg at Upton Park seeking to earn the club a first trip [...]
EU: Bank taxes are an uneven playing field January 10, 2011 THE UK boasts Europe’s most stringent and wide-ranging bank levy, according to a report by the European Council, raising concerns about “spill-over effects, distortion of competition and relocation of businesses” within the EU. The report into bank levies across the region, which was written by the General Secretariat for European Council members, also emphasises that [...]
Babel faces FA wrath after misuse of the Webb January 10, 2011 Liverpool winger becomes first footballer to be charged with improper conduct for use of Twitter LIVERPOOL forward Ryan Babel has become the first footballer to be charged with improper conduct for his use of Twitter, after he posted a mocked-up picture of Howard Webb wearing a Manchester United shirt. Babel (right) was upset at Webb’s [...]
Barclays may set up bad bank for weak assets, analysts say January 10, 2011 BARCLAYS could soon start a radical restructuring to spin out a “bad” investment bank to wind down poorly performing assets, analysts said yesterday. Shedding non-core and credit-impaired assets by repackaging them into a separate entity would allow it to meet its looming Basel III capital requirements while maintaining high earnings and dividends to shareholders. Barclays [...]
