Could Archie Norman be Tesco’s new chairman? These are the runners and riders for the supermarket’s top job February 14, 2015 Archie norman is the latest City boss to be touted as Tesco’s new top boss and a successor to Sir Richard Broadbent who left last year in the wake of a profit scandal. The current chairman of ITV and former boss of rival supermarket Asda where he gained the tag of being the turnaround king, [...]
Tesco pays out £1.2m to former chief executive February 3, 2015 TESCO has reluctantly agreed to hand over more than £2m in payments withheld from its former chief executive and former chief financial officer in the wake of last year’s shock £263m profit scandal. Britain’s biggest supermarket said yesterday that it will pay Philip Clarke £1.22m and Laurie McIlwee £970,880 in “liquidated damages” after lifting suspensions [...]
Retail veteran John Allan in the running for Tesco chairman role February 1, 2015 DIXONS Carphone deputy chairman John Allan is tipped to be named as the next chairman of Tesco as the supermarket attempts to revive its fortunes and draw a line under last year’s accounting scandal. Tesco is understood to have drawn up a shortlist of potential candidates to replace Sir Richard Broadbent, who announced in November [...]
Tesco said to shortlist Sir Ian Cheshire and John Allan for its new chairman January 21, 2015 Tesco is said to have drawn-up a shortlist for the appointment of its new chairman, as it prepares to bounce back with a turnaround plan following a hefty profit overstatement. The UK's biggest supermarket chain is said to be choosing between Sir Ian Cheshire, who recently left home improvement retailer Kingfisher, and John Allan, the [...]
Focus on Blackfriars: The rise and rise of City towers on the South Bank January 15, 2015 Of all the makeovers the City of London has undergone in the ancient heart of the capital, Blackfriars is set to be one of the most breathtaking. The opening of Blackfriars South in 2013 marked the first new train station to open on the south bank of the Thames in 120 years. Commuters will no [...]
Barratt Developments sees property sales and completions jump in first half January 14, 2015 Sales at residential property company Barratt Developments jumped by 17 per cent in the six months to 31 December, up to £1.68bn from £1.44bn in the first half of the 2014 financial year. Completions also increased, improving from 6,195 to 6,971. Of the total number of completions, 1,149 were in the affordable housing sector, which [...]
Inflation falling after price wars over Christmas – London week ahead January 11, 2015 CONSUMER price inflation figures for December, due out tomorrow, will shine a light on to what extent falling oil prices and intense retail competition have boosted spending power in the UK. Analysts says the fall in inflation is likely to have been tempered by the fact that there was more retail discounting than usual in [...]
Barratt, Taylor Wimpey and Bellway among 16 national house builders to sign up to government’s Starter Homes initiative December 15, 2014 Some of the UK's biggest property developers have signed up to a new government scheme designed to help first-time buyers get a foot on the ladder. Avant, Barratt, Taylor Wimpey and Bellway are among 16 house builders to have put their name to the scheme, which offers first-time buyers under the age of 40 [...]
FTSE falls back but airlines soar after Osborne’s tax cut – London Report December 3, 2014 LONDON’S top share index edged down from a one-week high yesterday, with moves in stocks exposed to measures announced in the Autumn Statement dominating in an otherwise quiet session. The blue chip FTSE 100 index closed down 0.4 per cent at 6,716.63 points. Large-cap airlines easyJet, up 2.46 per cent at 1,668p, and British Airways [...]
Barratt Developments and Taylor Wimpey join the FTSE 100 in quarterly shake-up December 3, 2014 Home-builders Barratt Developments and Taylor Wimpey will join the FTSE 100 index, replacing Petrofac and IMI, it has been announced today. The latter two have recently been hurt by crumbling commodity prices amid a global sell-off. Jimmy Choo, Allied Minds, CLS Holdings, Game Digital, Greggs and Spirit Pubs will join the FTSE 250. EnQuest, Fenner, [...]