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 [...]
Emerging markets boost RSA figures November 4, 2010 GROWTH in emerging markets helped revenue at RSA Insurance Group jump by just under 10 per cent in the third quarter. Net written premiums rose to £5.5bn in the nine months to 30 September, up from £5.03bn a year earlier. The insurer announced strong numbers in emerging markets with net written premiums up 19 per [...]
Morrison sales in slim rise November 4, 2010 Wm Morrison Supermarkets met forecasts with a modest rise in third-quarter underlying sales as the benefits from a small rise in food price inflation were held back by subdued consumer spending. Britain’s fourth-biggest grocer said sales at stores open over a year rose 1.3 per cent, excluding petrol and VAT sales tax, in the 13 [...]
Fears over consumer climate send retailers and FTSE down November 3, 2010 BRITAIN’S top share index closed lower yesterday, with retailers weak as Next posted falling sales, while banks gained ground after Lloyds Banking Group poached Santander UK’s head as its new CEO. Investors were reluctant to take big positions ahead of a Federal Reserve decision on further monetary policy easing later yesterday. Markets are pricing in [...]