PTT plots bid for Carrefour assets August 20, 2010 PTT, Thailand’s biggest energy company, said it plans to bid for French retailer Carrefour’s Thai assets, worth an estimated $600M (£386m), under a plan to diversify its businesses. Carrefour, Europe’s top retailer, wants to sell its Malaysia, Singapore and Thailand units at a potential price of $1BN to focus on core markets where it holds [...]
Asda warns of shopper misery as sales drop August 17, 2010 SUPERMARKET chain Asda said yesterday shoppers were being hit in the pocket by government cuts as like-for-like sales excluding fuel fell 0.4 per cent in the second quarter. The chain said its market share had reduced in the 12 weeks to 11 July as total sales crept up “in the low single digits”. Chief executive [...]
High achievers look beyond red bricks August 17, 2010 TOMORROW is a date that thousands of families across England and Wales will have indelibly committed to memory. Far from being merely another summer’s day, Thursday 19 August 2010 is A-Level “results day”, a make-or-break day for the career and life plans of thousands of 17 and 18-year-olds. For many, results day will simply confirm [...]
WHAT THE OTHER PAPERS SAY THIS MORNING August 12, 2010 FINANCIAL TIMES BARCLAYS REFUSES TO USE TARGETS The head of Barclays’ small business division has firmly refused to sign up to UK lending targets in a move that could fuel government criticism of the industry’s willingness to ease credit constraints in the economy. Speaking to the FT after Barclays broadened the remit of its business [...]
Micro Focus slashes its revenue target August 11, 2010 Micro Focus International was forced to slash its full-year revenue target after underlying growth stalled in the first quarter, with customers delaying contracts and low-value deals remaining weak. The firm’s shares fell 31 per cent to a 16-month low yesterday after the company, which upgrades legacy mainframe applications for companies like Boeing and Tesco, updated [...]
The late-night bank manager is planning a High Street revolution August 8, 2010 THE revolution in High Street banking has begun. That’s the bold claim of Craig Donaldson, chief executive of Metro Bank, the first addition to Britain’s retail banking scene in 100 years. And ground zero is the corner of High Holborn and Southampton Row, where its inaugural branch opened a couple of weeks ago. “The revolution has [...]
A new generation of banks August 5, 2010 BRITAIN saw the launch of its first new high street bank in many years recently, with the opening of Metro Bank’s first and only branch so far on High Holborn. The launch featured no end of gimmicks – including balloons, goodie bags and free dog biscuits – to persuade consumers that the bank offers something [...]
Boots buys up Turkish drug wholesaler July 25, 2010 ALLIANCE Boots will prepare for a major push into Africa and the Middle East with the purchase of one of Turkey’s biggest drug wholesalers. Alliance Boots will take full control of Hedef Alliance in a deal thought to value the Turkish company at more than £600m. Boots already owns a 50 per cent stake in [...]
Grocers see demand rise from footie July 20, 2010 SALES in the grocery sector received a boost as British shoppers stocked up for the World Cup. In the 12 weeks to 10 July sales grew 3.2 per cent compared with same period last year. Two of the weeks saw sales lifts of more than four per cent. Beers, wines and spirits saw the biggest [...]
Fast-growing SMEs are vital for UK’s future July 19, 2010 TO a fascinating lunch on Friday at Lombard Odier with Paul Marson, its chief investment officer. He believes that sovereign debt levels will force European welfare states to downsize. Is this a good thing? Martin Varsawsky, founder of FON, one of Europe’s largest Wifi communities, and a serial entrepreneur, is proud of the fact that [...]