SME finance: Which is best and how can you ensure success? October 6, 2016 British small and medium sized enterprises (SMEs) may be ambitious, but without financing, ambition is nothing more than a pipe dream. Whether it’s new equipment, a cash injection for a project, or simply extra working capital, businesses need money to ensure they can continue to grow. Clearly, there are different types of finance for different [...]
City Moves for 6 October | Who’s switching jobs October 6, 2016 PayPal PayPal has named Mark Brant as managing director of PayPal UK. Mark has been promoted to this role following his tenure as general manager, merchant services UK. Mark joined PayPal UK in 2008 as director of large merchant sales before promotions to sales director and general manager of merchant services, UK in 2012. During his time leading [...]
As Tesco shares jump after it reported another rise in sales, is the retailer out of the woods? October 5, 2016 Clive Black, head of research at Shore Capital, says Yes. If you go down to the woods today… well, you won’t find Tesco chief executive Dave Lewis. Two years on from a troubled and tortuous analyst meeting, with the business on its knees, the Tesco boss is reporting that the remedial measures introduced to guide the [...]
Eurozone speeds into slowdown with weak shop sales October 5, 2016 The Eurozone ended summer with a stumble, new economic data has shown, as political concerns begin to weigh on the continent. Retail sales, one barometer for consumer confidence, dropped by 0.1 per cent in August, Eurostat confirmed this morning, while it also dealt a significant downgrade to the sector's performance in July. The body now [...]
Topps Tiles share price slides after company warns on low consumer confidence October 5, 2016 Topps Tiles said this morning that it had been hit by the fall in consumer confidence following the Brexit vote. After the company announced a slowdown in like-for-like sales growth to 1.4 per cent its share price slid more than six per cent. The sales dip was in part to due to a strategic change to [...]
Tesco’s pension deficit has more than doubled in six months October 5, 2016 The market has responded positively to Tesco's new target for operating margin to move to four per cent by 2020, but Tesco also reported this morning that its pension deficit has more than doubled in six months. The deficit has risen from £2.61bn to £5.85bn due to exceptionally low bond yields, leaving the scheme's trustees in a tight spot. [...]
Analysts applaud Dave Lewis’ efforts to turn around Tesco October 5, 2016 Tesco posted a 0.6 per cent increase in UK like-for-like sales this morning and analysts have been reacting well to chief executive Dave Lewis' efforts to revive the embattled retailer. And the market seems to agree with them, with the retailer's share price jumping nine per cent in early morning trading. Lewis has been managing [...]
Tesco posts increase in UK like-for-like sales but profit drops 28 per cent October 5, 2016 Tesco's share price jumped nine per cent in early morning trading after it posted an increase in UK sales in its interim results. The company also confirmed its pension deficit has jumped by £3.2bn to £5.9bn "due to lower bond yields". The figures Tesco's like-for-like sales in the UK were up 0.6 per cent in the first [...]
Tesco’s Drastic Dave must keep delivering to revive fortunes of the supermarket giant October 5, 2016 Tesco's slogan “every little helps” was aimed at cost-conscious shoppers in the financial crisis, but the same could also be said of the grocer’s gradual recovery under CEO Dave Lewis. Two years into his tenure, the retailer can perhaps add a new catchline to its roster: buy everything here. Lewis is steering the Tesco juggernaut [...]
The cost of groceries fell once again in September as the supermarket price war waged on October 4, 2016 The cost of a basket of shopping fell again in September as the supermarket price war continued to take its toll on retailers' margins. According to research by comparison website mySupermarket, a basket of popular grocery items came to £83.19 in September, an annual drop of £2.74 and a month-on-month drop of 16p. Read more: Sainsbury's share [...]