Tesco on special offer after being oversold June 14, 2010 TESCO share prices tumbled to 397p last week after the announcement that chief executive Sir Terry Leahy was to step down after 14 years at the helm. Sales data released today is expected to be lacklustre, and combined with an expected weak consumer environment in the UK, Tesco’s margins in the near future look vulnerable [...]
Peacocks could be put back on the block with £600m tag June 14, 2010 FASHION CHAIN Peacocks could be put up for sale, after its owners commissioned a review of the retailer’s options. It is understood the retailer could secure a price-tag of £600m if put on the market, handing its US hedge fund owners a neat multi-million pound windfall. Peacocks’ management is currently reviewing the company’s operations, including [...]
Latitudinal thinking in Aldwych June 14, 2010 28-50 140 Fetter Lane, EC4A 1BT 020 7242 8877 www.2850.co.uk Cost per person without wine: £30 THE first thing to chew on at 28-50 is its name. It gets stuck in the teeth, frankly, involving two non-symmetrical numbers that bear no obvious relation to each other. For the innumerate among us, it’s a bit intimidating, [...]
TASTING NOTES June 14, 2010 FINDING an excuse to enjoy chocolate is always welcome. And – as with all the naughtiest things in life – if it is of the highest quality then it is probably a bit less bad for you. Well, still another way to mitigate the dangers of greedy chocolate consumption is to learn more about how [...]
European executive eyes new watchdog to control speculators June 14, 2010 THE EUROPEAN executive dealt a blow to French and German hopes of a permanent EU-wide ban on some forms of trading after throwing its weight behind empowering new watchdogs to rein in financial speculators. Last week, German Chancellor Angela Merkel and French President Nicolas Sarkozy wrote to the European Commission demanding it look at outlawing [...]
TECHNICALS DRIVING THE RECENT RALLY June 14, 2010 CFD MARKET STRATEGIST, GFT WE HAVE seen a fair recovery in global equities over the past few days. Even Friday’s terrible retail sales numbers from the US weren’t considered bad enough to dampen renewed risk appetite. Traders concentrated on the modest improvement in consumer sentiment and used it as an excuse to buy stocks, giving [...]
MORGAN STANLEY STAR TO JOIN HEDGE FUND June 14, 2010 TEUN Draaisma, the highly-respected European equity strategist, has stepped down from his role at Morgan Stanley after 13 years in order to join investment group TT International to run a European stocks macro hedge fund. Graham Secker is to step into his shoes at Morgan Stanley to lead the European equity strategy team.
FOOD & BOOZE NEWS June 14, 2010 WIMBLEDON TEA AT THE DORCHESTER Get into grand slam spirit with a Wimbledon Afternoon Tea at The Dorchester’s famous Promenade, with a selection of tennis-inspired pastries including the citrus court, raspberry drop and coconut smash. Included is also a glass of champagne, traditional strawberries & cream, finger sandwiches and homemade scones. From 21 June to [...]
Commodities should take off later this year June 14, 2010 MARKETS tend to react quickly to bad news. Last month, after fears that the Greek debt crisis could spread across Europe and dent the outlook for global growth, the markets traded lower as investors sold risky assets. Commodities – sensitive to the global growth outlook – were hit hard. For example, the oil price fell [...]
Record deal won by Dana Petroleum June 14, 2010 LISTED oil and gas group Dana Petroleum yesterday sealed a deal to buy Petro Canada Netherlands for €328m (£272.7m) in cash, its biggest ever acquisition, in order to open up access to the Dutch North Sea. Dana, which has oil and gas assets in the UK and North Africa, will put the deal to shareholders [...]
