Tesco ends talks to sell off 191 Turkish stores May 27, 2014 TESCO confirmed yesterday that it has scrapped plans to sell its loss-making business in Turkey after talks with potential joint venture partners broke down. The supermarket chain was in talks with various groups over Kipa, which has 191 stores. These parties were reported to include private equity group BC Partners about creating a joint venture [...]
Letters to the Editor – 28/05 – Ukip’s rise, Best of Twitter May 27, 2014 Ukip’s rise [Re: Why it’s hard to be optimistic about the future of UK politics, yesterday] Your point about Ukip needing to deal with the Lib Dem problem of being one thing to one set of supporters, and another to a different set, is spot on. It’s odd seeing so many younger metropolitan supporters regard [...]
John Lewis reveals the five brand new technologies it’s investing in May 27, 2014 John Lewis today crowned the five technology startups that have won a place in the retailer’s technology incubator, called JLAB. The winners were chosen from a shortlist of 30 companies that were given five minutes last week to pitch a product that will help ensure John Lewis’s stores and website remain at the forefront [...]
Best of the Brokers for 27 May 2014 May 27, 2014 To appear in Best of the Brokers, email your research to notes@cityam.com TESCO Deutsche Bank has maintained its “buy” recommendation and target price of 342p for the supermarket chain, ahead of a first-quarter trading update on 4 June. The broker forecasts UK sales to deteriorate but expects Europe to continue the improved trend seen in [...]
Seven habits of the most effective digital enterprises May 23, 2014 In an age where most developed economies are experiencing lacklustre growth, digital continues to expand at an ever more rapid pace. E-commerce is booming at double-digit rates in the US, as well as the majority of European countries, and is rising across Asia. However, many companies are struggling to move beyond the experimentation stage of [...]
B&M Retail lines up £2.5bn stock market debut May 22, 2014 B&M RETAIL, the discount shopping chain, yesterday batted away fears of a slowdown in London’s new issues market as it unveiled plans for a £2.5bn main market float. The chain, founded in 1978 by a shopkeeper in Blackpool, said its £1.2bn turnover, ambitious expansion plans and overseas subsidiaries set the company apart from others trying [...]
City IPOs: One falls down, four rise to take its place May 22, 2014 Investors keen to be involved in the IPO of clothing chain Fat Face were disappointed last night by news that its float was to be pulled. A regulatory filing submitted this morning shows that "despite a strong level of interaction with and interest from institutional investors, the company and its majority shareholder have decided to [...]
The fluid society: SMEs can grow by tearing down walls May 21, 2014 Flexible working and “flat” firms are thriving thanks to the growth of collaborative technology Developments in communication technologies are transforming modern businesses, leading to more fluid, less hierarchical workplaces. The archetypal office of the 20th century was filled with long, straight rows of desks and meeting rooms. As John McRae of ORMS Architecture Design writes, [...]
Best of the Brokers for 21 May 2014 May 20, 2014 To appear in Best of the Brokers, email your research to notes@cityam.com CAMBIAN Numis has started covering the newly-floated care home company with a “buy” rating and 340p target price. The broker reckons Cambian can deliver an earnings growth rate in the mid-teens, and thinks the current price does not reflect the prospects of this [...]
London Report: Vodafone and Marks weigh down on FTSE May 20, 2014 SELL-OFFS in mobile operator Vodafone and retailer Marks & Spencer dragged down Britain’s blue-chip equity index yesterday, after disappointing forecasts from both companies. The benchmark FTSE 100 index closed down by 0.6 per cent, or 42.55 points, at 6,802.00 points. Vodafone took the most points off the FTSE as it fell by 5.5 per cent [...]