Just 15 per cent think challenger banks are better than big lenders August 26, 2014 New banks want to establish themselves as a fresh alternative to the dominant high street banks which have taken the blame for the financial crisis. But it is a tough ask. For new research out today from U-Switch suggests the public is not impressed with their offerings so far. Just 15 per cent think the [...]
Carve Tesco into three, says former director August 26, 2014 A former Tesco executive has called for the business to be radically restructured by its incoming boss, creating three separate entities. Bruno Monteyne, an analyst at Bernstein Research and previously Tesco.com's development director, has argued that carving the supermarket up could be the only way to halt its decline. He suggests dividing it [...]
London Report: Reports of new Pfizer Astra bid pushes up FTSE August 21, 2014 BRITAIN’S top equity index yesterday rose on gains in healthcare stocks, led by Astrazeneca on speculation that previously rejected US suitor Pfizer might make another bid. The blue-chip FTSE 100 index closed up 22.18 points, or 0.3 per cent, at 6,777.66 points. Astrazeneca rose three per cent to 4,411.50p, while domestic rival Glaxosmithkline advanced 1.2 [...]
Fashion wars… a Lidl bit of what you fancy August 20, 2014 The invasion of supermarkets into the fashion sector is hotting up after hard discounter Lidl announced yesterday it was entering the fray. The German retailer is to launch a new fashion range for women next Monday, including ankle boots for £9.99 and even a faux leather jacket for £15. Lidl already sells basic clothing such [...]
Lidl clothing range: Discount retailer challenges British supermarkets on fashion front August 20, 2014 Not content with challenging big British supermarkets on food prices, discount favourite Lidl is taking the stores on in the fashion stakes. The German retailer is about to launch a fashion range for women that includes jeans, shoes and even leather jackets, with a men's range to follow later this year. From August 25th shoppers [...]
Tesco-backed coffee shop chain Harris + Hoole to close six stores August 19, 2014 Harris + Hoole confirmed yesterday its decision to shut six stores, raising questions over its performance less than two years after Tesco’s investment in the coffee shop chain. The group sparked controversy last year after it emerged that Tesco owned a stake despite its independent guise. Tesco bought a stake with the view of introducing [...]
Supermarkets spark Bank Holiday petrol price war by slashing costs August 18, 2014 Britain’s leading supermarkets have fired the latest salvo in a fuel price war after slashing prices at their pumps today in a bid to win over customers ahead of the Bank Holiday. Asda was the first to take action, announcing that it would cut the cost of petrol by up to two pence per litre [...]
London Report: FTSE rises as Ukraine-Russia fears subside August 18, 2014 THE FTSE 100 yesterday climbed on the back of investor relief that a feared escalation in the Ukraine crisis had failed to materialise. Tensions spiked on Friday when Ukraine said it had partially destroyed an armoured column that had crossed the border from Russia, triggering a sell-off in global shares. But Moscow made no threat [...]
Concern over Tesco dividend August 17, 2014 FEARS that Tesco may have to cut its £1bn dividend increased yesterday after a fresh warning from one of the supermarket’s activist investors. Harris Associates, which owns a three per cent stake, told The Sunday Times that the dividend “should be cut if it’s paid for by borrowing” and not covered by free cash flow. [...]
Asda sales ahead despite profit warning from owner Wal-mart August 14, 2014 ASDA is outperforming its leading supermarket rivals in the battle for customers’ loyalty after reporting a 0.5 per cent increase in like-for-like sales in the second quarter. The US-owned chain was the first of the big four to take action against the discounters by cutting its prices when it pledged in November to invest £1bn [...]