FTSE retreats as Morrisons and Glencore drop – London Report September 15, 2015 BRITAIN’S top share index fell yesterday, with miner Glencore and supermarket group Morrisons underperforming as weak Chinese data and the possibility of a US rate rise weighed on markets. The blue-chip FTSE 100 index had initially risen but then lost ground to close 0.5 per cent lower at 6,084.59 points as caution crept in before [...]
Faceless fears: no one hears you scream online – it is far too distant and anonymous September 15, 2015 Opening shots René Carayol THERE IS rarely a business bulletin nowadays that doesn’t mention a significant successful fraud. This is of course not the full picture, as most businesses and many consumers do not feel compelled to report their perceived lax controls. It’s now nearly always a sophisticated cyber-attack or the now more prosaic online [...]
Marketers threaten to bring media work in-house September 13, 2015 AS MARKETING departments look for bang in every buck they spend, the relationship with brands and media agencies is set to change. A survey by MediaSense, ISBA and IPSOS Connect has shown that 60 per cent of brands anticipate moving their content development in-house, or going to alternative agencies, before 2020. So why are agencies [...]
Morrisons share price forecast: Supermarket warns of long recovery as profit slumps September 11, 2015 Morrisons chief executive David Potts warned yesterday that it will take “years not months” to turn the ailing chain around as first-half profit plunged by a third to its lowest level in nine years. Unveiling his plan for the business, the former Tesco director who took over in March said his main focus was on [...]
Morrisons share price fall drags FTSE 100 index down after closure statement – London Report September 11, 2015 London’s leading shares fell yesterday, with supermarket Morrisons among the biggest fallers. At the end of the day, the benchmark FTSE 100 index was down by 1.18 per cent, or 73.2 points, at 6,155.81. Morrisons shares fell 2.8 per cent after the supermarket said it was closing M Local stores amid falling sales and profits. [...]
Living Wage: Morrisons boss Dave Potts joins Next, John Lewis and Whitbread in warning of extra staff costs September 10, 2015 The cost of the National Living Wage is stacking up rapidly. Morrisons has today admitted that the introduction of the government-imposed measure next year is going cost the supermarket group “10s of millions of pounds” on top of the costs the business is already battling with to turn itself around. From April next year, businesses [...]
Morrisons share price jumps as it agrees to sell 140 M Local convenience stores for £30m loss September 9, 2015 Morrisons has reached a deal to sell 140 of its "M Local" convenience stores, to a team led by retail entrepreneur Mike Greene. In a statement today, Morrisons said it will retain five of the strores, which are either on forecourts or will be converted to miniature versions of Morrisons' own stores. Read more: Morrisons' ill-fated [...]
Milk emergency: Farmers face water cannons as they stage huge protest in Brussels against falling prices September 7, 2015 Today, thousands of farmers have driven their tractors into Brussels to protest against falling milk prices in Europe. They are gathering outside the headquarters of the European Union, bringing traffic to a standstill. The protest coincides with an emergency meeting held by the EU Agriculture Council in the Belgian capital. Anti-riot police have [...]
UK pensions deficits: FTSE 100 firms fear pension pain as workers retire September 6, 2015 Pension schemes represent a “material risk” for many of the largest companies in the FTSE 100, new research shows. Six firms, including BAE Systems, British Airways-owner International Airlines Group, RSA and Royal Bank of Scotland, all have total disclosed pension liabilities almost double their equity market value, so says JLT Employee Benefits’ quarterly report [...]
Bank to announce rates decision as China woes weigh – London Report September 6, 2015 THE BANK of England will be centre of attention on Thursday when it provides a simultaneous release of its monetary policy decision and minutes from its monetary policy committee (MPC) meeting. The MPC is almost certain to keep interest rates unchanged at 0.5 per cent, with worries about China and oil price declines meaning other [...]