Gender pay gap: Royal Bank of Scotland Group (RBS) pays women 37 per cent less than men February 23, 2018 Royal Bank of Scotland Group may have announced its first annual profit in a decade this morning, but it wasn’t all good news for the state-backed lender. RBS said it pays women about 37 per cent less than men on average, largely due to men holding more senior roles. The bank announced that women held [...]
Tesco reports gender pay gap of 8.7 per cent saying male workers take more shifts that offer premiums February 21, 2018 Tesco has reported a gender pay gap of 8.7 per cent across its UK retail business after crunching the pay data of more than 225,000 members of staff. It becomes the first of the big supermarkets to report the figures required by government ahead of an April deadline. All firms with more than 250 employees [...]
Glass Lewis tells Booker shareholders to vote against Tesco’s £3.7bn takeover February 20, 2018 An investor advisory firm has thrown another obstacle in the path to Tesco’s £3.7bn takeover of Booker, telling Booker shareholders to oppose the deal. Glass Lewis told clients in a note today that it advised rejecting the deal, on the grounds that the bid “clearly lags regional trends” and may fall below Booker’s true value. [...]
Tesco UK chief Matt Davies to become N Brown’s chairman February 18, 2018 Tesco's UK chief Matt Davies is leaving the retailer to become the chairman of N Brown. N Brown, which owns JD Williams, Simply Be and Jacamo, has been seeking a replacement for its current chairman Andy Higginson for a number of months. Davies will take the reins from Higginson after Tesco's £3.7bn takeover of Booker [...]
UK petrol prices: Sainsbury’s, Morrisons and Asda kick off war at the pumps February 9, 2018 A UK petrol price war has kicked off with three of the big four supermarkets slashing prices at the pumps. In the last few minutes, Sainsbury's mirrored an earlier move by Asda and Morrisons this morning to knock 2p off a litre of petrol and diesel. Sources at Tesco said a decision had yet to [...]
UK petrol prices: Sainsbury’s, Morrisons and Asda kick off war at the pumps February 9, 2018 A UK petrol price war has kicked off with three of the big four supermarkets slashing prices at the pumps. In the last few minutes, Sainsbury’s mirrored an earlier move by Asda and Morrisons this morning to knock 2p off a litre of petrol and diesel. Sources at Tesco said a decision had yet to [...]
Tesco fraud trial: Carl Rogberg heart attack puts a stop to Tesco trial February 6, 2018 The fraud trial of three former Tesco executives has been discontinued after one of the defendants had a heart attack. Former Tesco UK finance director Carl Rogberg had a heart attack last Thursday, it emerged today. He is in hospital. He has been standing trial on charges of fraud and false accounting alongside former UK [...]
Britain’s big banks decline to follow Lloyds lead on bitcoin credit card bans February 5, 2018 Lloyds Banking Group has banned customers from buying bitcoin and other cryptocurrencies using credit cards, but other big British banks say they currently have no plans to clamp down on the risky assets. A wave of lenders around the world have placed restrictions on customers using debt to buy digital currencies, including JP Morgan Chase, [...]
‘Supermarket giants doomed’ – no, just history repeating February 2, 2018 Investors, analysts, journalists or other market commentators often become convinced some scenario or trend definitely will or will not play out. Check back a few years later, however – always anyone bothers – and that certainty may prove unwarranted. Three or four years ago, for example, many were arguing it was ‘game over’ for supermarket [...]
Sainsbury’s takes full control of Nectar in £60m deal with Aimia February 1, 2018 Sainsbury’s has paid £60m to take full control of the Nectar loyalty scheme, giving it greater access to information about customer habits. It said the decision to acquire the shares in the programme from analytics firm Aimia Inc UK was part of a strategy “of knowing its customers better than anyone else”. While consumers will [...]