Tesco slams Competition Commission July 16, 2009 TESCO, Britain’s biggest retailer, yesterday hit back at plans by the Competition Commission to introduce a new test into the planning system to combat the dominance of big supermarket chains. Tesco supermarket director Lucy Neville-Rolfe said the move “will cost jobs by deterring investment in the areas that need it most, in what is already [...]
SHAREHOLDER VIEWS: WHAT SHOULD SAINSBURY’S DO DIFFERENTLY? July 15, 2009 BERNIE FIELDING“I think they could do more to boost the share price. Despite all the updates and improved trading, it still hasn’t lifted the market value by much. Tesco and Morrisons have achieved that. I don’t understand why Sainsbury’s is lagging and I want answers.” DIANA DENNIS“I think under the current conditions Sainsbury’s have done [...]
Northern Foods jumps as warm weather boosts barbecue sales July 15, 2009 FOOD manufacturer Northern Foods yesterday reported solid first-quarter trade, boosted by warm weather, and said it was optimistic it could beat full-year profit targets, lifting its shares by 12.2 per cent to 61.7p. Northern Foods, which makes food products and ready meals for retailers as diverse as Marks & Spencer and Aldi as well as [...]
Japan offers the contrarian trader a wealth of opportunity July 13, 2009 GIVEN how badly export-oriented Japan has suffered from the financial crisis and the subsequent drop off in global demand, you might think that investing in Japanese equities would be one of the least successful trading strategies around right now. But in fact, a number of analysts have started turning bullish on the Japanese stock index [...]
Sainsbury’s in the spotlight July 12, 2009 J SAINSBURY is hoping, according to insiders, for a “plain old AGM” this Wednesday as shareholders gather around chief executive Justin King for the yearly meet. Sainsbury will be hoping the meeting will largely be an opportunity for investors to laud its current trading efforts, which has seen it outperforming rivals. But shareholders may want [...]
THE TIPSTER NEW SHARES PLACING LIFTS SAINSBURY’S July 12, 2009 SUPERMARKET chain Sainsbury’s had been doing well in the first months of 2009 despite consumers tightening their belts, and its share price reached a high of 347.25p in the middle of May. But its share price then slipped to around 309p and the stock has been trading broadly sideways since then. However, the announcement of [...]
Ericsson signs deal at Cable & Wireless July 8, 2009 TELECOMS giant Cable & Wireless said yesterday it had signed a three-year contract with equipment maker Ericsson, to provide “voice solutions” for 600 of the latter’s staff in Coventry. As part of the deal, Fixed Mobile Convergence will allow Ericsson staff to use their mobiles for all calls. Mobiles can be routed to a landline [...]
Miners give support as they rise to recoup their losses July 7, 2009 MINERS were the saviour of the FTSE 100 yesterday, offsetting falling oil stocks and disappointing UK industrial output data to keep the index flat, or just 7.91 points lower, at 4,187. Data showed that UK manufacturing output unexpectedly shrank in May, falling 0.5 per cent on the month, making it less likely the economy returned [...]
Freshfields is City’s top legal firm July 2, 2009 FRESHFIELDS Bruckhaus Deringer has overtaken rival Clifford Chance to clinch the top spot among the UK’s highest-grossing law firms. Profit per equity partner – considered the best measure of a law firm’s profitability – remained broadly constant for the 2008/09 financial year at £1.44m, outperforming rivals who saw profits slump. Revenue hit £1.29bn, an increase [...]
Britain’s transport policy in deep crisis July 1, 2009 BRITAIN’S transport policy is in chaos. This is hardly news, you might say, but the issue is once again at the fore. It is clear that there is a big problem with the way the rail franchises have been allocated. Firms have an incentive to bid too much for a franchise because they know that [...]