Police seize bitcoins from criminal hacker in first case of its kind May 25, 2018 Police have seized around half a million pounds worth of bitcoin from a “prolific” hacker in the first case of its kind for the Met. Grant West was responsible for attacks on more than 100 companies worldwide, obtaining the financial data of tens of thousands of people though phishing scams, which he would then sell [...]
City analysts say there’s more M&A activity on the horizon May 21, 2018 Equity markets nearing all-time record highs, interest rates still low and a weak pound have created a cauldron for mergers and acquisitions (M&A) that analysts anticipate continuing while current market conditions persist. Two FTSE 100 companies have already been acquired this year, a third looks set to go and with two more facing bids, 2018 [...]
MPs to launch select committee inquiry into Sainsbury’s Asda merger May 20, 2018 MPs are planning their own inquiry into the tie-up of Sainsbury’s and Asda, separate to the competition watchdog’s probe. The Environment, Farming and Rural Affairs (EFRA) committee is gearing up to investigate the deal due to concerns for the impact it could have on suppliers to the supermarkets, The Mail on Sunday reported. This comes [...]
Last Week in the City: England has an 8.5% chance of winning the World Cup May 18, 2018 Garry White, chief investment commentator, looks at the market-moving events that have shaped the UK equity markets this week (14 to 18 May 2018). UBS has used its City analysts’ predictive firepower to try and work out the winner of the upcoming World Cup in Russia – and England came surprisingly high in its league [...]
Competition and Markets Authority starts scrutiny of Sainsbury’s-Asda merger ahead of formal investigation May 18, 2018 The Competition and Markets Authority (CMA) said today it was kicking off its scrutiny of the proposed merger between supermarket giants Sainsbury’s and Asda. Sainsbury’s announced at the end of last month that it intended to merge with Asda, which is currently owned by Walmart in the US. The two have said a deal will [...]
Asda reports steady sales growth ahead of Sainsbury’s merger May 17, 2018 Asda reported steady sales growth today as the supermarket looks forward to its proposed tie-up with Sainsbury’s. Comparable sales growth was up 3.4 per cent in the three months to the end of March. This was helped by the early timing of Easter, but Asda said sales still grew by one per cent when adjusted [...]
We meet Annabel Karmel, the celebrity cook who leaves children hungry for more May 14, 2018 Annabel Karmel comes bounding into the room like a bundle of sunshine. With her yellow dress and immaculate makeup, she seems a world apart from the drab Bloomsbury bar where we meet. For millions of parents, Karmel is a household name, with major supermarkets stocking her baby and toddler food. It was her first book, [...]
The future of UK supermarkets is big data and personalisation May 9, 2018 The proposed merger of two supermarket giants, Asda and Sainsbury’s, has been hailed as one of the new “forces of UK retail”. But in a rush to point out that the combined chain would have nearly a third of the UK supermarket sector, one key factor has been ignored: Amazon. Amazon recently launched its online [...]
Walmart takes on Amazon in battle for Indian Flipkart with $15bn bid May 7, 2018 Walmart is set to take on Amazon to buy a stake in India’s biggest online retailer Flipkart, in a deal worth $15bn (£11.06bn). Reports today say that the American retailer will buy three-quarters of Flipkart’s shares at a valuation of just under $20bn. Sources close to the deal told the Financial Times that Walmart boss [...]
Morrisons earnings preview: Grocery chain faces uphill battle amid Asda-Sainsbury’s merger May 7, 2018 Grocery chain Morrisons is set to announce its first quarter trading results on Thursday, and the company may have a lot to prove. Analysts at Barclays forecast sales growth of 1.7 per cent, below the company’s figures for the fourth quarter of 2017. If so, it would be the lowest sales growth since the end [...]