Allan Leighton: the man behind Crozier’s move January 28, 2010 ITV chairman Archie Norman yesterday said he had scoured the world for a new chief executive before finally settling on Adam Crozier. But the man he eventually chose came via a more direct route, through his friendship with long-time friend and former Asda colleague Allan Leighton. Norman – chief executive and then chairman of Asda [...]
Morrison’s gets its man with hire of ex-Wal Mart executive January 27, 2010 WM MORRISON has appointed Dalton Philips, a former Wal-Mart executive, as its new chief executive, ending months of speculation over who would succeed Marc Bolland. Philips is chief operating officer of Loblaw, Canada’s largest grocer with 1,000 supermarkets nationwide and a turnover of £18bn. He previously ran the Irish department store group Brown Thomas. The [...]
Defensive shares lift FTSE but banks and miners weak January 26, 2010 BRITAIN’S leading share index added 0.3 per cent yesterday, as support for defensive issues, and a modest early rally on Wall Street, offset weakness in heavyweight miners and banks. At the close, the FTSE 100 index was up 16.54 points at 5,276.85, snapping a four-session losing streak, having earlier reached an intraday low for the [...]
DON’T FORGET THE IMPACT OF POLITICS January 25, 2010 DAVID MORRISON CFD MARKET STRATEGIST, GFT LAST week equities hit a brick wall. The US fourth quarter earnings season has been a disappointment so far. Companies are finding that a decent result on the bottom line just won’t cut it with investors if revenues haven’t improved. Also, the actions taken by the People’s Bank of [...]
Morrisons is Xmas winner as sales surge January 21, 2010 SUPERMARKET chain WM Morrison posted the biggest rise in Christmas sales among Britain’s top four grocers – but urged caution about 2010. Sales at stores open at least a year rose 6.5 per cent, excluding petrol and VAT, in the six weeks to 3 January. Total revenue rose by 10.8 per cent for the period. [...]
US unit could be up for sale, says Wimpey January 21, 2010 TAYLOR Wimpey, one of Britain’s biggest housebuilders, is understood to be considering spinning off its North American business through a sale or stock market flotation, which could enable it to slash its debt mountain. The company’s adviser JP Morgan Cazenove is thought to have started sounding out rival and other institutions on their appetite for [...]
Morrison beats rivals with festive sales boost January 21, 2010 SUPERMARKET chain Morrison posted the biggest rise in Christmas sales among Britain’s top four grocers – but urged caution about 2010. Sales at stores open at least a year rose 6.5 per cent, excluding petrol and VAT, in the six weeks to 3 January. Total revenue rose by 10.8 per cent for the period. Morrison, [...]
NEWS | IN BRIEF January 18, 2010 HSBC battles for $900m Thai bank HSBC is fighting off rivals for an estimated $900m (£551m) stake in Thailand’s seventh largest bank, after state-owned Korea Development Bank joined the race for the 47.6 per cent stake of Siam City Bank yesterday. Thanachart Bank, based in Thailand, is also in the running. Final bids are due [...]
Morrisons to trump its retail rivals January 17, 2010 WM MORRISON supermarkets is expected to announce outstanding trading results this week as it emerges from the Christmas period outperforming its rivals. Like-for-like sales of the UK’s fourth biggest supermarket chain are predicted to have improved seven per cent on the previous year, adding to the impressive turnaround overseen by soon-to-depart chief executive Marc Bolland. Bolland [...]
THE TIPSTER January 17, 2010 Retailers have had mixed fortunes over the Christmas period. Although shoppers spent huge amounts of cash in the run-up to the festive season, not everybody has gained in the same way. Supermarkets and cheap high-street chains have out-performed – department store John Lewis recorded its best ever revenues in December. But others could not keep [...]