Morrisons looks to build on its rising sales trend September 4, 2011 SUPERMARKET chain Morrisons reports its half yearly results on Thursday in which it is expected to give an update on its £320m cost saving programme and the performance of its new convenience stores under the M Local brand. The group’s first quarter figures showed a surprise like-for-like rise in sales, excluding fuel, of 2.5 per [...]
THE WEEK AHEAD September 4, 2011 COMPANY NEWS ● Lonrho announces today. It invests in infrastructure, transport, agribusiness, hotels and support services businesses in Africa. ● On Tuesday, Allstate, Ashtead and Genus all announce. The latter is a British-based business selling products manufactured using biotechnology to cattle and pig farmers. ● Amphenol will announce on Wednesday. Amphenol was founded in Chicago [...]
China’s answer to Vegas is Eastern gambling paradise September 4, 2011 OF all the improbable consequences of China’s headlong rush into beating capitalism at its own game, Macau is the weirdest.In common with nearby Hong Kong, the former Portuguese colony returned to Chinese ownership in 1999, but remains largely self-determining. As a result, gambling is legal. And not just legal: Macau is known as the Vegas [...]
Poet’s Voice to give Godolphin double Celebration August 25, 2011 FRANKIE Dettori had a tremendous final two days at York and I expect his good run to continue as POET’S VOICE is going to be extremely hard to beat in tomorrow’s Celebration Mile at Goodwood (3.20pm). He won this race easily last year on his favoured soft ground before going on to take the Group [...]
Sir Ken Morrison fined £210k August 16, 2011 Former Morrisons chairman Sir Ken Morrison has been hit with a £210,000 fine for failing to disclose his reduced shareholding and voting rights to the company and investors. The 79-year-old businessman, who spent more than 50 years turning the business into the UK’s fourth largest supermarket chain, reduced his stake in the company from 6.38 [...]
Regulator fines Sir Ken Morrison over share sale August 16, 2011 The Financial Services Authority has fined Ken Morrison, former chairman of supermarket chain William Morrison Supermarkets £210,000 for failing to disclose a series of shareholdings in the company. In a statement the FSA said Morrison, who retired in March 2008, had failed to disclose shares sales in 2009 and 2010 which reduced his holding in [...]
Supermarkets kick off price war over petrol August 14, 2011 TESCO today reduced its fuel prices by up to two pence per litre (ppl). The price cut covers both unleaded and diesel and is in addition to the price cut of up to 1ppl announced earlier in the week. Yesterday Morrisons took two pence off the price of a litre of unleaded and diesel. The [...]
Supermarkets cut petrol prices as oil tumbles August 8, 2011 SUPERMARKETS have cut the price of petrol from near-record levels after the cost of oil tumbled in the face of continuing fears over Eurozone debt, the US downgrade and plunging stock markets. Asda was the first of the big retailers to announce yesterday that it would cut the price of unleaded petrol and diesel by [...]
OFFSHORE FUNDS: HALF THE NATION’S WEALTH COMES OUT FOR COWES August 7, 2011 THE RUM Jungle was once chartered by Hugh Hefner and an assortment of his Playboy bunnies, when the ageing porn baron came to London for his eightieth birthday celebrations. But on Saturday, it was the turn of Aberdeen Asset Management’s seafaring chief executive Martin Gilbert to hop aboard the 75-foot gin palace, as part of [...]
RIM plunges after it axes 2,000 staff July 25, 2011 SMARTPHONE maker Research In Motion (RIM) plunged more that 4.4 per cent yesterday after it announced it would axe a tenth of its global workforce. The firm, best known for its BlackBerry range, has struggled in the face of soaring demand for Apple’s iPhone and handsets running Google’s Android, especially those made by Samsung. Its [...]