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 [...]
Blackberry maker Research in Motion to cut 2,000 jobs July 25, 2011 Blackberry maker Research in Motion is to cut 2,000 jobs from its workforce worldwide and is replacing its chief operating officer as it fights off competition from rivals Google and Apple. The job cuts are equivalent to 11 per cent of the Canadian firm’s workforce and part of a wider cost cutting programme designed to [...]
Soaring tech stocks burnish banking rally to send FTSE up July 20, 2011 BANKING stocks led Britain’s top shares higher yesterday on strong corporate earnings and optimism over a deal in Washington to increase the US debt ceiling and avoid default. The UK benchmark index closed up 63.83 points, or 1.1 per cent, at 5,853.82, building on the previous session’s 0.7 per cent advance. Solid US earnings, including [...]
Aldi and Lidl grow their market share July 19, 2011 DISCOUNT supermarkets have grown their market shares as cash-strapped customers seek out bargains. Aldi and Lidl saw strong market share growth in the 12 weeks to 10 July, according to figures from the Kantar Worldpanel. Aldi achieved a 20.2 per cent rise in UK market share to 3.5 per cent. Lidl’s share rose 15.6 per [...]
THE WEEK AHEAD in association with GFT July 17, 2011 COMPANIES ● Today, Iceland Foods announces. Investors will hope it doesn’t get frosty results after news that Morrison may bid for some of its individual stores. ● IG reports tomorrow. The spread betting provider could soon be in the FTSE 100. ● On Thursday, the business process outsourcing company Capita will announce. It has been [...]
Commodity falls and fears for stress tests see FTSE decline July 14, 2011 FALLS among commodity issues sapped the strength of Britain’s top share index yesterday, as worries over global growth clouded the demand outlook for metals and oils. At the close, the FTSE 100 index was down 59.48 points, or one per cent at 5,846.95, reversing all and more of the previous session’s 0.6 per cent rally. [...]