Morrison sluggish as hard times bite November 4, 2010 WM MORRISON supermarkets said yesterday it expected shoppers to remain under pressure into the second half of next year, as it met forecasts with a 1.3 per cent rise in third-quarter underlying sales. However, the fourth-biggest grocer played down fears of a surge in food prices, saying it did not see big inflationary pressures and [...]
Morrison sales in slim rise November 4, 2010 Wm Morrison Supermarkets met forecasts with a modest rise in third-quarter underlying sales as the benefits from a small rise in food price inflation were held back by subdued consumer spending. Britain’s fourth-biggest grocer said sales at stores open over a year rose 1.3 per cent, excluding petrol and VAT sales tax, in the 13 [...]
ASDA appoints new top exec November 1, 2010 Asda yesterday announced that experienced retailer Simon King will join the WalMart-owned supermarket business as its new chief operating officer in January 2011. He is currently the chief executive of supermarket and hypermarket operator Panda Retail, a subsidiary of The Savola Group, based in Saudi Arabia. Until 2009 he was chief of Tesco Kipa in [...]
Keep control of your car insurance October 21, 2010 CAR insurers have hit drivers with the biggest annual price hike on record, and premiums are expected to continue rising into 2011. The cost of annual comprehensive car insurance soared 39.3 per cent in the 12 months to the end of September – the biggest annual jump recorded since the benchmark AA British Insurance Premium [...]
Keep control of your car insurance October 21, 2010 CAR insurers have hit drivers with the biggest annual price hike on record, and premiums are expected to continue rising into 2011. The cost of annual comprehensive car insurance soared 39.3 per cent in the 12 months to the end of September – the biggest annual jump recorded since the benchmark AA British Insurance Premium [...]
ITEM: cuts won’t cause double-dip October 17, 2010 THE UK faces a slow economic recovery but fears of a double dip recession are overdone, one of the UK’s top forecasters will say today. The Ernst & Young Item Club – which uses the Treasury’s own economic model to make its predictions – also suggests that far from hurting the economy, Wednesday’s Comprehensive Spending [...]
Osborne gets boost from 35 top business leaders over spending cuts October 17, 2010 DOZENS of business leaders have backed George Osborne’s swingeing spending cuts, saying hesitation could cost £100bn in extra debt, more taxes and an increase in the rate of interest. A total of 35 captains of industry, including BT chief executive Ian Livingston and Asda chairman Andy Bond, penned a letter to the Daily Telegraph urging [...]
Asda closes final salary pension scheme October 8, 2010 Asda is closing its final salary pension scheme as it seeks to tackle a soaring deficit, in a move affecting around 4,000 of its staff, it said. The Walmart owned chain closed the final salary scheme to new members in 2005, said it would compensate affected employees with a cash sum equivalent to 25 per [...]
Freud Communications profit soars October 8, 2010 Freud Communications bucked the recession with a 28 per cent increase in pre-tax profits to £6.7m last year. Annual accounts for the PR agency, which is majority-owned by French advertising giant Publicis Groupe, show revenues rose 23 per cent to £33 million. It is understood that significant growth at teh firm run by Matthew Freud, [...]
Henry: Self-made millionaire who brought Red Sox glory October 6, 2010 PROSPECTIVE Liverpool owner John W Henry knows what it takes to revive the dwindling fortunes of a world famous sporting name, having done as much with Boston Red Sox. Henry, 61, and his holding company New England Sports Ventures took control of the baseball franchise in 2002 and by 2004 had ended their 84-year wait [...]