UK pensions: Defined benefit pension schemes deficit edging downwards in private sector companies January 4, 2016 UK private companies have marginally narrowed the deficit they are running on their defined benefit (DB) pension schemes. Figures from JLT Employee Benefits show that, at 31 December 2015, funding for DB pensions in all UK private sector pension schemes stood at a £228bn deficit. By comparison, at 31 December 2014, the deficit was £248bn. [...]
Sainsbury’s, Tesco, Asda and Morrisons diesel prices lowered to 99.7p falling under £1 for first time since 2009 amid falling oil prices January 3, 2016 The price of diesel will fall below £1 for the first time since 2009 at all Big Four supermarkets as Tesco and Asda were first to announce the cost of filling up will cost less, bringing a new year gift to motorists across the country. Supermarkets will drop the price per litre to 99.7 pence from Monday, with both [...]
Amazon expands Pantry online supermarket as it lays out fresh challenge to UK’s Big Four supermarkets Asda, Tesco, Sainbury’s and Morrisons December 29, 2015 Amazon’s foray into the supermarket sector has quickly become a success, after the online retail giant announced plans to expand its new Pantry service in the UK next year. In other words, there's more disruption ahead for the UK’s troubled traditional supermarkets. The “Big Four” – Asda, Tesco, Sainsbury’s and Morrisons – are struggling to keep up [...]
Tesco, Sainsbury’s, Asda, Morrisons and even Lidl supermarkets slash Christmas 2015 advertising spend December 22, 2015 Britain's beleaguered supermarkets have slashed the amount of cash they are spending on advertising over Christmas this year, with Tesco and Sainsbury's cutting budgets by as much as 30 per cent. Troubled Tesco made the biggest cuts to its festive advertising, spending almost £3m less in a four week run up to the big day compared to last [...]
Sir Ken Morrison has taken a £6m stake in rival Sainsbury’s December 21, 2015 The outspoken former chairman of Morrisons has taken a £6m stake in rival supermarket Sainsbury's. Sir Ken Morrison now owns 2.6m share in Sainsbury, while his son William owns 2.1m, giving the pair a combined £11.9m stake. The man who once told Morrisons' chief executive Dalton Phillips his strategy was "bulls***" has gone further than just implied support. [...]
FTSE rallies on expectations of a US rate rise – London Report December 17, 2015 RISES in Dixons Carphone and Pearson pulled the markets up for a second session in a row, ahead of a 25 basis point rise in US interest rates. The blue-chip FTSE 100 index was up 43.40 points, or 0.7 per cent at 6,061.19 points by the close, outperforming the broader European market. The gains were [...]
City Moves for 17 December 2015 | Who’s switching jobs December 16, 2015 L&G Legal & General Investment Management (LGIM) Real Assets has announced the appointment of Tony Doherty as head of product development in its business development team. Tony takes over from Dan Batterton who has moved into the new role of build-to-rent fund manager . Prior to joining LGIM Real Assets, Tony spent 15 years at [...]
FTSE posts biggest one-day gain in over two months – London Report December 16, 2015 The top FTSE index rose yesterday after eight straight sessions of falls, with supermarkets, commodity stocks and firms with South African exposure among the companies rebounding from previous falls. The FTSE 100 was up 2.5 per cent at 6,017.79 points at its close, its biggest one-day gain in over two months, having fallen 8.5 per [...]
The Mog effect? Sainsbury’s share price climbs as grocer outperforms Tesco, Asda and Morrisons as Kantar supermarket figures December 15, 2015 Could it be the Mog effect? Sainsbury's has beaten Tesco, Asda and Morrisons to become the best performing supermarket among the Big Four. In fact, Kantar Worldpanel figures show that Sainsbury's was the only grocer among the top spots to post a growth in sales for the 12 weeks to 6 December, up 1.2 per cent. Tesco and Asda had [...]
Defined benefit pension schemes becoming less and less popular with FTSE 100 companies, as contributions for their provision falls by 13pc in a year December 14, 2015 Defined benefit (DB) pension schemes have fallen further out of favour among FTSE 100 companies, as payments for their provision have tapered off. Research released today by JLT Employee Benefits has revealed that ongoing DB pension provisions among FTSE 100 firms fell 13 per cent in real terms to about £7.2bn in the 12 months [...]