FTSE 100 lower on weak corporate news October 8, 2012 The blue chip index was firmly lower in early trade, as worries over the health of the global economy pulled stocks down. Weaker resources prices and concerns ahead of a meeting of EU finance ministers to launch the latest bailout fund weighed on sentiment. Materials firm Cookson Group and recruiter Michael Page led the index [...]
Wincanton to run Morrisons’ M Local centre October 7, 2012 WINCANTON, the logistics company, has won a multi-million pound contract to run Morrisons’ new distribution centre in West London as the grocer prepares to roll-out 20 convenience stores across the capital by year-end. Wincanton said the five-year contract will see it managing both the 100,000 square feet warehouse, opening in Feltham next year, and the [...]
Tesco posts 10.5 per cent profit drop October 3, 2012 Tesco posted a 10.5 per cent drop in first-half trading profit this morning. Over the six months to 25 August, profit came in at to £1.6bn. A £1bn capital investment programme, to stem a decline in market share to chains such as Asda, Sainsbury’s and Morrisons, was largely responsible for the firm’s first fall in [...]
Auto-enrolment begins to shake up UK pensions September 30, 2012 BUSINESS lobbies, unions, and pension funds have backed pensions minister Steve Webb’s auto-enrolment scheme, as it is rolled out this morning. From today, firms with more than 120,000 employees must enrol all staff in a pension scheme, and by 2018 all employees earning enough to pay national insurance will have to be put in a [...]
Benched Bent has nothing to prove to Lambert after scoring Villa’s late derby day leveller September 30, 2012 ASTON VILLA 1 vs WEST BROM 1 ASTON Villa manager Paul Lambert was insistent that Darren Bent need not prove a point to him after yesterday’s late equalising goal concluded a period in which the striker was both stripped of the club captaincy and dropped. After West Brom’s Shane Long had given the away side [...]
Classy Maureen can give Hannon another Cheveley Park September 27, 2012 RICHARD Hannon won the Cheveley Park Stakes back in 2006 with the top class Indian Ink and he may have unearthed another star filly in the shape of MAUREEN. The daughter of Holy Roman Emperor won the Princess Margaret easily at Ascot last month and she was very unlucky behind Sendmylovetorose in the Cherry Hinton. [...]
Tesco displaying recovery signs after its shock profit warning September 25, 2012 TESCO, the world’s third biggest retailer, said a recovery plan to recapture home market share was making an impact after a shock profit warning, backing up industry data showing evidence of success in its fight-back against rivals. Once one of the most consistent British companies in terms of earnings growth, Tesco stunned investors in January [...]
What the other papers say this morning September 23, 2012 FINANCIAL TIMES Banks to shed €20bn property loans Europe’s banks are on track to dispose of €20bn worth of loans backed by offices, shops and hotels this year as lenders across the continent race to reduce exposure to the volatile real estate sector ahead of tough regulatory changes. Banks including Lloyds Banking Group, Santander and [...]
Supermarkets slate minimum alcohol pricing September 16, 2012 SUPERMARKETS have hit out at plans for minimum alcohol pricing, despite being told they could make up to £2.2bn in extra profits under proposals to curb binge drinking. Public responses to David Cameron’s plans to introduce a price floor are set to be invited in the coming weeks, with drinks manufacturers set to campaign against [...]
Morrisons puts faith in roll out of local stores September 6, 2012 MORRISONS yesterday batted off concerns that it is slipping behind rivals, unveiling plans to roll out convenience stores across London and step up its fresh food offer in a bid to stem declining sales. Britain’s fourth largest supermarket said like-for-like sales, excluding VAT and fuel, fell 0.9 per cent in the first half of the [...]