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 [...]
Bonus hikes help US banks to outbid UK for top staff March 12, 2014 BANK bonuses hit a post-crash high on Wall Street in the latest pay round, official figures showed yesterday, as the recovery boosted traders’ fortunes. Booming pay in the US contrasts with sustained political pressure on British banks who have been cutting back on bonuses in recent years. The average bonus for investment bankers hit $164,530 [...]
What the other papers say this morning – 13 March 2014 March 12, 2014 FINANCIAL TIMES HS2 chairman finds £1.5bn savings The new head of HS2 has identified at least £1.5bn in potential cost savings in London alone from the project’s £50bn budget but will warn MPs that the best way to save money on the line is to build it faster than planned. Sir David Higgins took over [...]
Inside Track: Co-op board spat highlights need for change March 12, 2014 COMPANIES usually ban the use of social media sites to stop employees idling away work-time on frivolous gossip. In the case of the Co-operative Group, it might have been better advised to put a filter on the internet access of Euan Sutherland, its now-former chief executive. Sutherland took to Facebook on Sunday to denounce the [...]
Meet the UK’s professional mermaids March 12, 2014 LinkedIn, the internet’s answer to a our hatred of networking events, has passed a notable milestone (ahem, as has the internet, “happy 25th birthday internet”). The business-friendly social network now has 15m members in the UK. That’s a relatively impressive 23 per cent of the UK. But what is perhaps more impressive, is the [...]
Co-op Group in turmoil: Sutherland quits and rival factions begin the fight for control March 11, 2014 THE CO-OP was plunged deeper into chaos yesterday as chief Euan Sutherland sensationally quit after just 10 months, inflaming a divisive row over modernising the mutual that threatened to split the board. Sutherland’s exit leaves serious question marks over the business’ future, with his resignation statement pointing to deep divisions at the top of the [...]
Lombard moving to America March 11, 2014 Medical devices company Lombard Medical Technologies is planning to leave the London stock market and rehome with an initial public offering on Nasdaq worth up to $80m. The decision by the Aim-listed company, which specialises in the repair of aneurysms, reflects the attraction of the US market for small medical companies, following an exceptionally strong [...]
London Report: FTSE nudges down to near month-long low after banks fall March 11, 2014 THE UK’S top equity index steadied yesterday after hitting a three-week low, with some investors seeing value in beaten-down stocks, although the market remained vulnerable to further declines in the near term. The blue-chip FTSE 100 index closed 0.06 per cent lower at 6,685.52 points after falling to 6,660.59, its lowest since the middle of [...]
Consolidate: Don’t let your Isas go to waste March 11, 2014 But be very careful to avoid committing the cardinal sin of losing the tax wrapper on your existing investment With the end of the tax year fast approaching (5 April), the clock is ticking to make the most of your full Isa allowance (currently £11,520, up to half of which can be held in cash). [...]
Here’s why the UK’s food sector has a rocky road ahead March 11, 2014 With some dire Christmas sales, heavy discounting and a ramping up of online shopping, the UK food retail sector feels unloved. That’s according to Barclays, which points out that the UK’s sector is now trading at a clear price-to-earnings discount when compared with continental Europe. It hasn’t always been like this for UK companies. Expansion [...]