FTSE stalls on route to record high after Greek talks falter – London Report February 18, 2015 After touching a 15-year peak yesterday morning, the FTSE 100 ended the trading day unchanged. London’s blue-chip index hit 6,921.3 at one point, but then fell back to close at 6,898.08 – just 0.05 points down on the previous day. The index’s record closing high of 6,930.2 was reached in December 1999, while the record [...]
Former Apple boss quits role at Monsoon after two years February 18, 2015 Monsoon chief executive John Browett has quit after two years in the job to pursue other opportunities. The former boss Dixons Retail has had an eventful few years after leaving the electricals giant in 2012 to join Apple as head of retail. However, his stay at Apple’s US headquarters was short-lived and he [...]
Tesco investors non-plussed by John Allan as chairman – he’s no Archie Norman say analysts February 18, 2015 Something to tick off Dave Lewis’ Tesco recovery to-do list: – appointing a new chairman. The milestone was finally passed after a near four-month search with the naming of Dixons Carphone’s John Allan as Richard Broadbent’s successor. What’s that done to Tesco shares? Not much. They edged up slightly in early trading and are [...]
Tesco hopes Allan is the key to resolving its lingering problems February 17, 2015 John Allan turned around Dixons, but can he now reboot Tesco? ONE sat on the board of high street electricals giant Dixons Carphone while the other has already led a successful turnaround of supermarket Asda. Both Archie Norman and John Allan were considered strong contenders for the chairman role at Tesco, but last night the [...]
Warren Buffett sheds $3.9bn Exxon Mobil stake as oil prices tumble February 17, 2015 Warren Buffett’s Berkshire Hathaway shed its holding in Exxon Mobil in the fourth quarter of 2014 as the company reacted to tumbling oil prices. Berkshire had held 41m shares worth $3.9bn (£2.5bn) in Exxon and 471,994 shares in Conoco as recently as the end of September, but a regulatory filing has revealed that [...]
Here’s everything we know about Tesco’s new chairman, John Allan February 17, 2015 After a four-month search, Tesco has finally revealed who will replace Sir Richard Broadbent as chairman. John Allan was chosen after “a deep and thorough process” to lead the supermarket's board as it attempts to recover from a wretched 2014. Allan, who commented that he was “very pleased to be taking on this role at such a [...]
Tesco appoints former Dixons Carphone deputy as new chairman February 17, 2015 Tesco has named John Allan as its next chairman following Richard Broadbent's decision to step down from the role. The beleaguered supermarket has turned to current Dixons Carphone deputy chairman Allan who will step into the role on 1 March. He will pay be paid a fixed salary of £650,000 for three years, inclusive of [...]
Tesco to cut up to 10,000 jobs amid overhaul February 15, 2015 Tesco could cut up to 10,000 jobs as part of a radical overhaul by chief executive Dave Lewis aimed at halting a slide in profits. Britain’s biggest supermarket, which employs around 314,000 staff, announced plans last month to save £250m a year by axing 43 unprofitable stores, shelving 49 new projects and closing its [...]
Tesco Bank moves into new mortgage territory with independent brokers February 15, 2015 Tesco Bank is extending its mortgage offering to include independent brokers, with the hope of dramatically increasing its customer base. In an interview with The Telegraph this weekend, the business said it would start selling the loans through intermediaries in 2016. The bank has already shown promise in the property market – [...]
Valentine’s Day 2015: South West Trains just won Valentine’s Day with When Harry Met Salisbury, Waterlove and Breakfast at Twickenham departure boards February 14, 2015 A train company just got something right for once. It’s not often they can be given credit for getting something right, but on Valentine’s Day, South West Trains have done it and even revealed a romantic side. We thought Tesco was doing it well, but the folks over at South West Trains, usually embattled by [...]