Tesco chief exec Philip Clarke relieved to be out as supermarket issues profit warning July 21, 2014 Tesco boss Philip Clarke has said he is relieved to be leaving the struggling supermarket as the retailer issued a profit warning. Britain's largest retailer said sales and profit in the first half of the year are below expectations. Clarke oversaw Tesco's attempt at repositioning in the face of tough market conditions and increasing competition [...]
London Report: UK’s second quarter growth and minutes from Bank in focus July 21, 2014 THE first estimate of gross domestic product data for the second quarter is likely to be closely watched after hints of a rate rise later this year. The minutes of the July meeting of the Bank of England’s Monetary Policy Committee will also be of interest, for the same reason, and retail sales figures will [...]
Best of the Brokers for 17 July 2014 July 16, 2014 To appear in Best of the Brokers, email your research to notes@cityam.com UNILEVER Oriel Securities has upgraded the consumer goods group to “reduce” from “sell”, raising the target price to 2,600p from 2,190p. The broker thinks while Unilever is strong, earnings per share will be flat. It also sees a lack of consolidation pressure, and [...]
The in-house agency: Oliver Marketing CEO Simon Martin on the new media model July 13, 2014 Traditional ad and media agency models are under pressure – this everyone knows. But while some executives are nervously looking over their shoulders at the tech giants and consultancies, the in-house agency model is also shaking things up. According to the Association of National Advertisers, nearly 60 per cent of clients used in-house [...]
Tungsten hails its maiden results July 8, 2014 TUNGSTEN Corporation, the fast- growing electronic invoicing group, celebrated maiden full-year results yesterday by announcing it had won a new contract with the German government. The group, founded by private equity pioneer Edi Truell, beat rivals such as SAP to land the government as a client, adding to a blue chip list which includes firms [...]
Graduate jobs market bounces back to pre-recession levels July 7, 2014 The number of graduate-level job openings has returned to its pre-recession peak, with an 11.6 per cent increase in vacancies this year, according to a study conducted by High Fliers Research. Based on a poll of 18,000 final year university students, the study shows the biggest increase in vacancies since the dramatic 23 per cent [...]
Croda share price drops after profit warning June 24, 2014 Croda, the world's second-largest supplier of cosmetic ingredients, has seen its share price drop more than eight per cent in early trading this morning following a profit warning. The FTSE 250-listed global chemicals manufacturer, which counts Procter & Gamble, Unilever, L’Oreal and Estee Lauder among its customers, has warned that second quarter pre-tax profits will be about [...]
City of London Festival: Bowler hats off in Paternoster Square June 23, 2014 Anyone walking through Paternoster Square this morning, be not afraid of the giant millinery planted in the middle. You haven’t woken up in a Lewis Carroll novel – the City of London Festival has started and that giant bowler hat is a venue. The festival has previously slipped under the radar slightly, but this [...]
Chemical firm Croda’s financial chief Sean Christie to step down June 18, 2014 FTSE 250-listed chemicals manufacturer Croda announced yesterday that its finance chief would be stepping down next year. Sean Christie, who has worked at the firm since 2006, will remain at Croda until April 2015 to facilitate the board’s search for his replacement. “I have thoroughly enjoyed the role and all its challenges, but have decided [...]
WPP snaps up Dutch outfit June 17, 2014 WPP yesterday said it was taking over Dutch marketing strategy consultant EffectiveBrands for an undisclosed sum. The deal, made through WPP’s media research arm Millward Brown, would see EffectiveBrands combine its client list of Pernod Ricard, Barclays, Unilever and PepsiCo with the WPP firm to create a new unit called Millward Brown Vermeer. EffectiveBrands made [...]