Ageas UK sees profits fall on higher claims November 10, 2010 AGEAS UK reported a 50 per cent fall in pre-tax profit for the first nine months of the year following increased claims from the severe wintry weather at the start of the year and poor private car sales. The insurer, formerly known as Fortis, reported profits of £16.6m for the first nine months of the [...]
THE TIPSTER November 10, 2010 The supermarket Sainsbury’s recently saw a dip in its share price, offering a rare buying opportunity for spread betters. Thanks to its immense property portfolio, Sainsbury’s is still preferred over competitors like Tesco. Capital CFDs quotes a price of 373.4p-374.0p. The G20 meeting in South Korea is now underway and the world is hoping for [...]
NATIONAL BUSINESS AWARDS CELEBRATE VERY BEST OF BRITISH November 9, 2010 “CELEBRATING” the Best of British was how Prime Minister David Cameron described the National Business Awards last night, speaking via a video link recorded before his trip to China this week. And a fine celebration the ceremony was too, honouring companies of all sectors and sizes across the UK economy, from niche tiddlers such as [...]
J Sainsbury outpaces rivals as it sees its market share inch higher November 9, 2010 UK SUPERMARKET sales are rising slightly more than food price inflation, with the third largest grocer J Sainsbury outpacing its major rivals, market researchers Kantar Worldpanel said yesterday. Grocery sales climbed four per cent in the 12 weeks ended 31 October, helped by a three per cent rise in inflation — little changed from the [...]
Trade envoys named as Cable signs pigs deal November 9, 2010 DAVID Cameron has named a raft of new business ambassadors to be responsible for promoting British trade interests abroad. The positions are not paid but give the envoys the chance to strike profitable deals for the UK abroad. The ambassadors include the CBI’s outgoing chief Richard Lambert, fomer governor of Hong Kong Chris Patten, Brunswick’s [...]
Tesco plans big move into Asia November 8, 2010 TESCO is poised to make a $1bn swoop on Carrefour’s supermarket networks in Malaysia, Singapore and Thailand after the French group’s decision to withdraw from South-East Asia. Carrefour’s planned exit — reportedly to pursue areas where it has market leadership — has drawn a flock of potential buyers as the process enters the second round [...]
Rok calls in administrator November 8, 2010 SOCIAL housing company Rok stunned investors yesterday by filing for administration less than two months after management declared its confidence in the business. The Essex-based firm, which employs 3,800 people, released a terse statement to the stock market yesterday and PricewaterhouseCooper were later appointed as administrator. The firm issued a profit warning in August, but [...]
Growth in China on the cards at Boots November 7, 2010 HIGH STREET health and beauty retailer Boots hopes to make headway in China when its executive chairman travels to the country as part of David Cameron’s first official visit as Prime Minister. Stefano Pessina has reportedly organised talks with potential partners in Beijing and Shanghai while he is in the country, as part of a [...]
Bids are in for Carrefour’s southeast Asian assets November 7, 2010 TESCO and Singapore’s Dairy Farm are among those to submit second-round bids for French retailer Carrefour’s Southeast Asian assets, it emerged yesterday. Carrefour, the world’s second largest retailer, had set a November 5 deadline for second-round bids in an auction which is expected to fetch $1bn (£620m). The auction has generated strong interest, mostly from [...]
Morrison sluggish as hard times bite November 4, 2010 WM MORRISON supermarkets said yesterday it expected shoppers to remain under pressure into the second half of next year, as it met forecasts with a 1.3 per cent rise in third-quarter underlying sales. However, the fourth-biggest grocer played down fears of a surge in food prices, saying it did not see big inflationary pressures and [...]