Bottom Line: This is the end of the big four supermarkets March 13, 2014 DALTON Philips kicked off more than just a price war yesterday. By promising to slash prices in an effort to turn around Morrisons’ fortunes, he also exposed a growing schism at the heart of the British grocery market. For years, supermarket analysts have talked about the big four (Tesco, Asda, Sainsbury’s and Morrisons) but with [...]
Scarlett fever: Under The Skin is a classic March 13, 2014 FILMUNDER THE SKINCert 15 | By Alex DymokeFive Stars IF YOU were considering the filmic potential of Scotland, first to come to mind would probably be the highlands; the dramatic barrenness of the western isles, the bronze light that illuminates the Grampians every evening. You probably wouldn’t think of Asda, Tescos, or obscure ring-roads on [...]
3 ways Morrisons will change your supermarket March 13, 2014 Morrisons’ extensive and rapid loss last year, and its foreseeable future profit warning, perhaps put it ahead of other supermarkets in terms of how quickly it needs to change. But the changes it needs and is planning to make affect all mainstream supermarkets. Indeed, the shares of all of them have lost this morning on [...]
Asda and Tesco kick off latest fuel price war March 10, 2014 SUPERMARKET chain Tesco kicked off another fuel price war yesterday, swiftly followed by Asda, following a decline in the wholesale cost of petrol and diesel despite escalating political unrest in Ukraine. Tesco cut the price of its petrol and diesel by one pence per litre (ppl) from yesterday afternoon. Asda is lowering its diesel by [...]
Tesco slashed the price of milk. Here’s how dairy farmers have responded March 3, 2014 Dairy farmers have accused Tesco of sparking a price war with its supermarket rivals that will cause further damage to an already fragile dairy industry, after the retail giant slashed the price of milk. Britain’s biggest food retailer delivered a fresh broadside in the battle for customers’ loyalty after cutting the price of a four [...]
Asda staff in line for £28m bonus February 27, 2014 Asda is to pay out £27.8m in staff bonuses today, with some employees receiving up to £500 after the Walmart-owned chain published results last week showing a slowdown in fourth quarter sales. Some 142,600 staff who have worked over six months at Asda will receive a bonus of up to £320 while 14,000 colleagues from [...]
Tesco retreats as Clarke puts the brakes on February 25, 2014 Supermarket pulls out of the space race with plans to slash spending and cut prices TESCO’S chief executive pledged yesterday to put the brakes on its UK expansion and spend £200m slashing prices as Britain’s biggest grocer seeks to revive sales and win back falling market share. Speaking at an investor conference, Philip Clarke laid [...]
Venture capitalists pour £25m into big data firm eCommera February 24, 2014 FAST growing retail technology company eCommera, which works with huge retailers like Asda and House of Fraser, has secured a further $41m (£25m) in funding from investors, it said yesterday. The company, based in London, said investors like Sir Martin Sorrell’s WPP had put more cash into the company alongside backers such as West Coast [...]
Lloyds brings in the machines with plan for mini-banks February 20, 2014 LLOYDS is looking at setting up a range of mini-branches across London with fewer staff and more machines, City A.M. understands. The aim is to plugs gaps in the bank’s coverage across the capital, while keeping costs low. It marks a new stage in the banking sector’s plans to cope as branches receive fewer visits [...]
What the other papers say this morning – 21 February 2014 February 20, 2014 FINANCIAL TIMES Business Wire halts high speed traders Business Wire, which has published corporate news releases in the US for the last half century, will stop selling direct feeds to high-speed traders, amid concerns that the practice gives the firms an unfair advantage over other investors. Warren Buffett, whose conglomerate Berkshire Hathaway owns Business Wire, [...]