Burberry boost for Nomura March 30, 2011 The iconic clothing group Burberry has hired Nomura, the Japanese bank, to be one of its corporate brokers. Nomura will advise Burberry alongside Morgan Stanley and Bank of America Merrill Lynch. The appointment will be a boost for Nomura which also advises Tesco and Invensys. Nomura’s team comprised of Ed Matthews, Ed Peel, Ed Boyce [...]
TESCO CAPS ITS PRICE CHECK OFFER March 27, 2011 TESCO has been forced to cap its offer to refund double the difference on products that can be bought for less at Asda. The supermarket giant has introduced a £20 maximum refund on its Price Check offer after canny shoppers researched Asda deals and made sizeable claims. Tesco claims they profited by finding Asda promotions.
Wake up and smell the instant coffee March 24, 2011 CHRISTMAS?2010 will be remembered as Britain’s last big spending splurge. What better way to end almost two decades of unsustainable, debt-fuelled largesse than with a massive turkey dinner and tonnes of presents? Supermarkets could barely believe it as families spent more than ever before on rich food and booze; John Lewis notched up record sales. [...]
FTSE inches up despite Sainsbury’s glum update March 23, 2011 BRITAIN’S top shares edged up higher yesterday, on a budget day that brought a mixed outlook for UK corporates. J Sainsbury fell sharply after a downbeat trading update, while sector peers firmed after the budget, as did housebuilders which got a first-time property buyers boost, while North Sea-focused oil firms were hit by a tax [...]
Sainsbury’s misses quarter four target as times get tough March 23, 2011 J Sainsbury, the third-biggest supermarket group, missed fourth-quarter sales forecasts and said trading was likely to remain tough as shoppers face rising fuel prices and government spending cuts. The group, which trails Wal-Mart’s Asda and industry leader Tesco by annual sales, said on sales at stores open over a year rose one per cent, excluding [...]
CITY MOVES | WHO’S SWITCHING JOBS March 20, 2011 BAE Systems Paula Rosput Reynolds (pictured) has joined the defence firm’s board as a non-executive, an appointment that will take effect from 1 April. Reynolds has spent more than 20 years in the energy sector, including roles as president and chief executive of AGL Resources in 2002 and Safeco Corporation. She took on the job of [...]
High street brands popular for legal advice March 15, 2011 WITH the implementation of the “Tesco law” looming, a new report from YouGov into the legal services sector provides positive news for big brands looking to diversify into this sector. It reveals that consumer willingness to seek legal advice from retailers or high street brands is high; 60 per cent of consumers would consider using [...]
The revolution will be beamed into your head March 14, 2011 THE revolution is here and it won’t be televised. It will be beamed directly into your head. It will be everywhere you go, knowing what you are thinking, what you are wearing. It will probably be able to guess what you are going to do next, before even you know it. Welcome to “Gladvertising,” the [...]
Deutsche to advise UKFI March 10, 2011 DEUTSCHE Bank has won the government’s biggest advisory mandate since it bailed out failing banks during the financial crisis, with UK Financial Investments (UKFI) bringing the bank on board to secure the privatisation of Northern Rock. UKFI, which manages the government’s stake in nationalised banks, chose Deutsche ahead of Morgan Stanley, which had been considered [...]
Morrisons profit up as it unveils share buyback March 10, 2011 Supermarket group Morrisons has reported a rise in annual profit and issued details o f a share buyback plan. The company announced a pre-tax profit of £874m for the 12 months to the end of January, up from the £858m it made in the same period a year ago. Like-for-like sales, excluding fuel and VAT, [...]