RSA limits losses and boosts income May 12, 2011 HOME insurer Royal and Sun Alliance (RSA) reassured investors yesterday with solid quarterly numbers that moved on from heavy winter losses in the UK and Europe. RSA’s net written premiums rose eight per cent to £2.1bn in the three months to March from 2010 as rates rose and it felt the benefit of takeovers in [...]
Oil price fall fuels hopes of cheaper petrol May 11, 2011 CRUDE oil prices dropped below $100 a barrel and US petrol futures slumped yesterday, fuelling hopes that UK forecourt prices may fall substantially soon. Crude futures plunged more than five per cent in the week’s second major oil price fall, with light sweet crude for June hitting a low of $97.50 (£59.55). Brent crude traded [...]
RADIO SILENCE BY SKY BOSS ON MURDOCH BID May 11, 2011 INNOVATION was the theme for BSkyB chief executive Jeremy Darroch at the Institute of Directors’ convention yesterday, where fellow speakers included McDonald’s chief executive Jill McDonald, chancellor George Osborne and shadow chancellor Ed Balls. “The most successful businesses are those that constantly seek to adapt and renew themselves,” said Darroch, as he charted the broadcaster’s [...]
Tesco names City grandee as new chair May 11, 2011 TESCO yesterday announced that Sir Richard Broadbent will become its next chairman. Sir Richard (pictured), who is deputy chairman at Barclays, will join Tesco as a non-executive director in July. He will take over the reins from Tesco chairman David Reid, who retires in November. The City grandee was tipped to take over at insurer [...]
WHAT THE OTHER PAPERS SAY THIS MORNING May 10, 2011 FINANCIAL TIMES PACE OF UK GROWTH UNDER THREAT Britain’s economy is unlikely to grow as fast as before the financial crisis because its most productive sectors have been hardest hit, jeopardising government plans to cut the deficit. A Financial Times analysis of the sectorial performance of the economy before and after the crash highlights how [...]
Tesco appeals to aspirational customer base May 10, 2011 TESCO plans to create new brands to spruce up its product ranges and appeal to increasingly aspirational shoppers across the world, its new chief executive said yesterday. Phil Clarke, outlining his strategy, said Tesco would be online in all 15 of its markets this decade and, while it would continue to expand rapidly in its [...]
Tesco to appeal to “aspirational” shoppers May 10, 2011 Tesco plans to create new brands to spruce up its product ranges and appeal to increasingly aspirational shoppers across the world, its new chief executive said. Phil Clarke, outlining his strategy for the supermarket group, also said Tesco would be online in all 15 of its markets this decade and, while it would continue to [...]
THE TIPSTER May 9, 2011 SAINSBURY’S, the third largest supermarket by market share after Tesco and Asda, is expecting a rise in pre-tax profit by eight per cent to £659m when it reports on Wednesday. The top three chains have all dropped market share since April 2010, which suggests shoppers may be looking for cheaper alternatives such as Aldi and [...]
THE TIPSTER May 8, 2011 SILVER saw its biggest drop since 1980 on Thursday and has declined a massive 30 per cent since hitting its all time high at the end of April. The unwritten rule is that a fall of 20 per cent marks the start of a new bear market, but considering that the bulk of the selling [...]
A truly useful, if less than sexy, resource for the novice investor May 5, 2011 HOW TO BUILD A SHARE PORTFOLIO BY RODNEY HOBSON Harriman House, £16.99 Phillip Salter IF you own a handful of UK shares but lack a strategy beyond: “I like to shop at Tesco, so I bought a few of its shares,” this book will help you build a financial future upon more secure foundations. Written [...]