ROTHSCHILD GIVES STAFF ITS TURKEY OF A BONUS October 23, 2011 EVERY little helps, as the Tesco slogan goes. So the price-conscious supermarket giant will be pleased to learn that the competitively remunerated London employees of Rothschild receive daily luncheon vouchers for the sum of £3 that can be refunded in any of its stores. But Rothschild’s solicitous attempts to ensure its workforce is well fed [...]
Retail sales up with gadgets boost October 20, 2011 Retail sales grew more than expected in September after a surprise increase in sales of laptops and video games, the Office for National Statistics said. The ONS said sales volumes including automotive fuel rose by 0.6 per cent on the month after a fall of 0.4 per cent in August, giving an annual rise of [...]
WHAT THE OTHER PAPERS SAY THIS MORNING October 16, 2011 FINANCIAL TIMES CHOPPY MARKETS THREATEN EMI SALE Turbulent financing markets could derail Citigroup’s attempt to sell EMI, according to people close to the $3bn-plus auction who warned that the US bank could abandon the sale if it cannot squeeze higher offers from bidders. The bidding process remains fluid, with Citigroup expected to decide within two [...]
FTSE rises as miners gain and euro hope pushes bank stock October 12, 2011 STRONG miners and banks boosted Britain’s top shares yesterday, keeping the index on an upward tilt, underpinned by progress in tackling the Eurozone sovereign debt crisis and recent upbeat US data. The mood, already elevated by hopes European leaders will unveil new measures to solve the crisis by the month’s end, was further lifted when [...]
FTSE flat after Slovak vote blow October 12, 2011 The FTSE 100 was flat this morning after Slovak lawmakers rejected a plan to expand the Eurozone rescue fund and the US earnings season kicked off with disappointing results. Slovakia’s decision rattled world markets as the plan — which would see Greece saved from economic abyss through new loans — is central to hopes that [...]
Aldi market share lifts in tough climate October 11, 2011 BUDGET supermarket groups are growing sales faster than rivals in Britain’s grocery sector as cash-strapped shoppers battle to preserve their income by trading down, market research showed yesterday. Kantar Worldpanel said grocery sales rose 5.1 per cent year-on-year in the 12 weeks to 3 October, up from 4.5 per cent in the previous 12 week [...]
Leahy looks for £500m for his China venture October 11, 2011 FORMER Tesco boss Sir Terry Leahy is looking to raise up to £500m to invest in Chinese shopping centres with the support of a former colleague. Leahy and Paul Mercer are working with stockbroker Numis to handle a fundraising in the hope of capitalising on China’s economic growth, which has remained strong despite the global [...]
RBS and Lloyds asked to explain cash machine restriction plans October 10, 2011 THE Treasury select committee has called for an explanation from banks planning to restrict which cash machines basic bank account holders have access to. Committee chairman Andrew Tyrie wrote to RBS and Lloyds about their schemes after consumer groups said the they could affect some of the most vulnerable in society. A million RBS customers [...]
Sainsbury’s to join price match battle October 9, 2011 SAINSBURY’S will turn up the heat this week in the price war between the UK’s leading supermarkets with a pledge to match thousands of prices at rivals Tesco and Asda. The supermarket announced yesterday that it will start its “brand match” campaign this Wednesday, just two weeks after Tesco launched a £500m “Big Price Drop” [...]
Legal market overhaul starts as Tesco law comes into force October 6, 2011 SUPERMARKETS, banks and other high street stores are now able to offer legal services to their customers, after a new law to liberalise the UK’s legal sector came into force yesterday. The Legal Services Act, dubbed the Tesco law, introduces the idea of alternative business structures (ABS), which allow law firms to seek outside investment, [...]