Christmas trading is slow at Metro as it issues profit alert December 6, 2011 METRO, the world’s fourth-biggest retailer, issued a profit warning that sent shockwaves through the sector yesterday, saying Christmas trading had started slowly and the Eurozone debt crisis was undermining consumer confidence. Shares in the German group, which runs cash and carries, hypermarkets, electrical goods and department stores, slumped over 13 per cent. “We feel the [...]
Amazon launches its video on demand service Lovefilm on Microsoft’s Xbox December 6, 2011 LOVEFILM, Europe’s largest subscription service, today becomes available on Microsoft’s video games console Xbox. The company, which was originally established in May 2002 as Online Rentals Limited and was acquired by Amazon in February 2011, has traditionally operated as a mail-order DVD rental service. However, in the last two years Lovefilm has enabled its customers [...]
Former Tesco boss cuts till rolls December 4, 2011 Lord MacLaurin, the former chief executive and chairman of Tesco, is investing in a British start-up championing paper-less receipts. MacLaurin, who helped pioneer Tesco’s Clubcard, is backing Paperless Receipts, which sends digital receipts to personalised websites.
A warning from the future: Don’t bank on old ways December 4, 2011 FOR banks, the path of lowest possible risk is to continue doing what they’ve always done; however this would be a grave mistake, as Alan Hughes wrote in the Forum last week [The challenge to banks: Who will lead on service, Wednesday]. Not only is service important, as Hughes argues, but with technology shifting the [...]
THE TIPSTER December 4, 2011 WHEN Victrex reports its earnings on Tuesday, analysts are expecting revenues of around £93m, up from £75m this time last year. The maker of polymers’s shares have slid 27 per cent from their highs in July of 1,600p, but it looks like it is on the way back from lows of 1,020p. Strong gains and [...]
Tesco makes new push into online movies December 1, 2011 CUSTOMERS who buy a DVD from Tesco will also be able to watch the film online in a new venture launched by video-on-demand website Blinkbox and the supermarket giant. This is the first time a major retailer has bundled a material product with its digital version, in a sign that DVDs are becoming increasingly obsolete. [...]
Property firm St Modwen sees big year December 1, 2011 PROPERTY regeneration company St Modwen expects its full-year results to buck the economic downturn, coming in at the upper end of forecasts. The company, which owns the Elephant and Castle and Edmonton Green shopping centres in London, said in a trading update that sales and buyer interest in its new sites have both been high, [...]
Tesco launches second inflation linked bond November 30, 2011 TESCO Bank yesterday launched a follow-up to its sell-out retail bond, offering investors a return of retail price inflation (RPI) plus one per cent over the next eight years. The inflation-linked bond will pay interest twice a year, with the full amount repaid at maturity even if RPI has fallen. Tesco’s latest issue comes a [...]
Broadbent takes over as new chairman of Tesco November 30, 2011 SIR RICHARD Broadbent has officially taken over as Tesco’s new chairman, replacing David Reid, who has spent almost two decades on the board of the UK’s leading supermarket chain. The appointment, seen as one of the biggest corporate roles in the UK, was first announced in May, with Sir Richard joining the board as a [...]
WHAT THE OTHER PAPERS SAY THIS MORNING November 28, 2011 FINANCIAL TIMES LLOYDS SET TO EASE PRESSURE ON CHIEF Lloyds Banking Group is exploring ways to reduce the workload on António Horta-Osório, its chief executive, as it attempts to convince investors he will be able to make a successful comeback from a period of medical leave. The state-backed bank is considering fortifying the support around [...]