Tesco in turmoil: Share price dives after £2bn is wiped off market value September 22, 2014 Britain’s largest retailer suspends four executives and launches probes after £250m profit overstating debacle. Tesco shares plunged 12 per cent yesterday after the embattled supermarket chain admitted that an error in its accounts meant profits for the last six months would be £250m lower than expected. The retailer has suspended four senior executives, [...]
Four Tesco senior executives “step aside” and FCA called in as share price plummets 11pc after “profit overstatement” September 22, 2014 Four senior Tesco executives have been suspended while it investigates a £250m "overstatement" of half-year profits. One of the figures understood to have stepped aside is Chris Bush, the supermarket's UK managing director. Shares in the supermarket opened more than 11 per cent down this morning after it admitted the error. The embattled supermarket said it [...]
New York Report: S&P closes in on landmark 2,000 points September 21, 2014 US STOCKS have been on a roll of late, with the S&P 500 hitting the latest in a series of records on Thursday, and investors expect the index’s momentum to soon carry it to – if not past – the 2,000 milestone. The S&P is about 10 points, or 0.4 per cent, from that landmark, [...]
Sport Comment: Rugby has the ability to infuriate but when in full flow the game simply inspires like few others September 14, 2014 Many of you will have spent last Friday hunched over a computer pretending to be observing market trends and world news, when in fact you were trying to access tickets for the Rugby World Cup next year. Some will have been lucky. One or two will have given up after encountering the usual glitches that [...]
Tesco share price: What the analysts are saying August 29, 2014 Tesco's profit warning – its second in just over a month – came out of the blue this morning, but its sentiment has been known for a while. The supermarket's struggles are well documented, from loss of market share against Lidl and Aldi, and growth at a 10-year low. Here's how analysts have responded to Tesco's [...]
Boris Johnson dismisses Uber as “excessively bumptious” August 5, 2014 London Mayor Boris Johnson has criticised the attitude of San-Fransico based firm Uber as "excessively bumptious." Johnson, speaking on LBC, added that he didn't like the way Uber were "moving into London and claiming they could take all this business away from black cabs." The company's rapid growth and penchant for innovation have clearly not conformed [...]
Fresh sanctions expected as West blames Putin’s Russia for MH17 crash July 21, 2014 Western governments yesterday warned that a more severe round of sanctions could be imposed against the Russian government, with heads of state increasingly blaming Moscow for supplying the missile which brought down a Malaysian airlines jet last week. Foreign secretary Philip Hammond, who has held the post for less than a week, said yesterday that [...]
UK GDP passed its pre-crisis peak in May, says think tank June 10, 2014 The long, slow path to a GDP recovery is complete, says think tank Niesr. They estimate that GDP grew by 0.9 per cent in the three months to May, taking output above its previous all-time high. By their reckoning it’s taken from 2008 to May 2014 for GDP to recover fully. We’ll still have to [...]
UK’s scariest chart is dead: Think tank says GDP has passed pre-crisis peak June 10, 2014 The long, slow path to a GDP recovery is complete, says think tank Niesr. They estimate that GDP grew by 0.9 per cent in the three months to May, taking output above its previous all-time high. By their reckoning it's taken from 2008 to May 2014 for GDP to recover fully. We'll still have to [...]
Cyclists encircle Smithfield for Nocturne races June 9, 2014 AN UNLIKELY velodrome sprang up around Smithfield’s meat market on Friday night as the area prepared for its annual Nocturne races, sponsored by Jupiter. The usual mix of early clubbers arriving at Fabric and refrigerated lorries full of sides of beef were replaced by cycle enthusiasts of every stripe, from elite athletes to masters of [...]