Flight to quality in stores February 2, 2010 Intense competition among Britain’s top grocers has hit sales growth at smaller hard discounters Aldi and Lidl, while Asda has suffered most from recent severe weather, market researchers said yesterday. Kantar Worldpanel, the new name for TNS Worldpanel, said sales at Britain’s grocers rose 5.2 per cent in the 12 weeks to 24 January, helped [...]
Blank makes comeback as UKTI adviser February 1, 2010 FORMER Lloyds Group chairman Sir Victor Blank has been brought in to advise the government on attracting overseas investment to the UK. Sir Victor, who resigned from the Lloyds board last year in the wake of its ill-fated takeover of HBOS, has taken a seat on a panel set up by Prime Minister Gordon Brown [...]
Retail bonds launch online February 1, 2010 A NEW online trading platform will open up the corporate bond and gilt market to the retail sector. The launch of a new order book by the London Stock Exchange (LSE) yesterday will allow far greater access to private investors. Of an estimated 10,000 bond packages available, only 200 were readily available to retail investors. [...]
RBS ponders sale of HQ at Gogarburn February 1, 2010 JUST five years after the completion of Gogarburn – Royal Bank of Scotland’s vast headquarters near Edinburgh and the darling of disgraced former chief Sir Fred Goodwin – and the £350m office complex may already be heading for the block. RBS is considering the merits of a sale and leaseback of the property to shore [...]
Defensive shares lift FTSE but banks and miners weak January 26, 2010 BRITAIN’S leading share index added 0.3 per cent yesterday, as support for defensive issues, and a modest early rally on Wall Street, offset weakness in heavyweight miners and banks. At the close, the FTSE 100 index was up 16.54 points at 5,276.85, snapping a four-session losing streak, having earlier reached an intraday low for the [...]
Potential buyers line up for retail chain Adams January 25, 2010 THE troubled Adams childrenswear retail chain has received approaches from a number of potential buyers, according to administrators trying to save the company as a going concern. Insolvency firm MCR yesterday confirmed the assets of Adams’ parent company, JS Childrenswear, were up for sale. “We are already seeing significant interest in the business and assets [...]
An oath can’t make lawyers more honest January 25, 2010 BIG changes are afoot in the legal world, not least those arising from the reforms which the profession is going to see under the Legal Services Act. This will include the introduction of so-called Tesco Law, which will see non-lawyers increasingly involved in the provision of legal services. In the face of this brave new [...]
Adams in strife as parent calls in the administrator January 24, 2010 Childrenswear chain Adams has gone in to administration for the second time in little more than a year, putting 2,000 jobs at risk. Insolvency firm MCR was called in on Friday to Adams’ parent company, JS Childrenswear. MCR partner Paul Clark said “all options” were being considered for the business, which has 120 stores across [...]
Morrisons is Xmas winner as sales surge January 21, 2010 SUPERMARKET chain WM Morrison posted the biggest rise in Christmas sales among Britain’s top four grocers – but urged caution about 2010. Sales at stores open at least a year rose 6.5 per cent, excluding petrol and VAT, in the six weeks to 3 January. Total revenue rose by 10.8 per cent for the period. [...]
Morrison beats rivals with festive sales boost January 21, 2010 SUPERMARKET chain Morrison posted the biggest rise in Christmas sales among Britain’s top four grocers – but urged caution about 2010. Sales at stores open at least a year rose 6.5 per cent, excluding petrol and VAT, in the six weeks to 3 January. Total revenue rose by 10.8 per cent for the period. Morrison, [...]