Aldi to hire 35,000 new staff for expanding discount drive November 10, 2014 GERMAN discounter Aldi is to create 35,000 new jobs and employ up to 1,000 apprentices as it continues to expand its presence in the UK, the company announced yesterday. During a visit from the Prime Minister David Cameron to the chain’s headquarters in Atherstone, Warwickshire, Aldi reiterated its commitment to increasing the number of stores [...]
Tesco wins court battle against Sainsbury’s over Price Promise November 10, 2014 SAINSBURY’S claim that Tesco’s Price Promise campaign was unlawful and like comparing “apples with pears” has been thrown out by a High Court judge. Sainsbury’s complained that, when applied to Tesco’s own label products and fresh food, the price comparisons were misleading, unfair and unlawful. The promise involves a pledge to match Sainsbury’s, Asda and [...]
Soaring Tesco helps FTSE but Serco plummets – London Report November 10, 2014 BRITAIN’S top share index yesterday advanced to a five-week high as investors bought into the consumer staples and retail sectors, with ailing supermarket group Tesco leading the gainers. The stand-out mover of the day, however, was mid-cap services outsourcer Serco, whose shares fell 32.2 per cent to 215p after saying it planned a rights issue [...]
Hammers star acid charge KO November 10, 2014 WEST Ham star Ravel Morrison has been cleared of threatening to throw acid in the face of his ex-girlfriend and have her killed. The Crown Prosecution Service formally withdrew the allegations against the England Under-21 midfielder yesterday. Former Manchester United trainee Morrison is still due to stand trial in January on three charges of assaulting [...]
Sainsbury’s loses clash of the titans as its challenge over Tesco’s Price Promise is thrown out November 10, 2014 Tesco can breathe a sigh of relief – Sainsbury's claim that its Price Promise campaign was unlawful and like comparing “apples with pears” has been thrown out by a High Court judge. Sainsbury's had complained that, when applied to Tesco's own label products and fresh food, the price comparisons were misleading, unfair and unlawful. [...]
Fuel group calls for full inquiry into secretive petrol pricing process as oil continues to decline November 10, 2014 CAMPAIGN group FairFuel UK warned yesterday that petrol prices were not guaranteed to fall in tandem with the decline in benchmark oil prices. Brent crude dropped to a four-year low of $82 last week, and Asda, Morrison’s and Tesco all responded with a similar downward adjustment. This follows a call from chief secretary to the [...]
Sainsbury’s eyes dividend cuts as profits set to fall November 10, 2014 Spending cuts, including a reduction in its dividend, are tipped to be on the agenda for Sainsbury’s on Wednesday as the supermarket prepares to rein in costs along with its first-half results. Analysts expect chief executive Mike Coupe will reveal a disappointing 12.5 per cent fall in profits to £350m for the period, as the [...]
Morrisons’ sales slump begins to slow down November 6, 2014 SALES at WM Morrison fell again in the third quarter, but yesterday investors were pleased at promising individual sales figures. The supermarket’s sales fell 6.3 per cent on the year, on a like-for-like basis – an improvement on the 7.6 per cent fall in the previous quarter. Its shares jumped by 6.22 per cent on figures [...]
FTSE edges higher despite declines in insurers’ shares – London Report November 6, 2014 BRITAIN’S top share index ended slightly higher yesterday, with RSA leading insurers lower on weak premiums and drugmaker GlaxoSmithKline slipping after trading without the attraction of its latest dividend. The FTSE 100 ended 0.18 per cent higher at 6,551.15 points, after rising to as much as 6,580.21 earlier. RSA slipped five per cent to 460.10p, [...]
Morrisons share price rises, despite 6.3 per cent fall in sales as Ocado tie-in fails to deliver November 6, 2014 If Tesco can take any consolation from its nightmare few months, it only has to look at rival Morrisons to realise it’s not in its struggle against the might of the discounters alone. In its third quarter results statement, Morrisons shortened its underlying profit before tax expectations after it recorded a drop in sales [...]