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Thousands of Tesco store managers across the country have seen their yearly bonus cut by up to £10,000, in another sign that tough times at the UK’s number one retailer are not yet a thing of the past. Around 5,000 directors and managers at Tesco are entitled to a performance-related salary. These include the majority [...]
(Read More)30th Apr 12
Clinton Cards in battle for future
by Natasha Redman
Embattled high street chain Clinton Cards is struggling to survive after efforts to sell all or parts of the company amounted to nothing. The listed-retailer, which boasts 628 shops in the UK, is mulling over an insolvency procedure in which it would jettison scores of stores, in an attempt to turn around its woeful performance. [...]
(Read More)28th Mar 12
Asda increases its market share
by Natasha Redman
Asda has narrowed the gap on struggling market leader Tesco after a report yesterday revealed that its grocery market share had increased to record levels. The retailer saw its market share go up to 17.9 per cent in the 12 weeks ending 18 March, from 17.3 per cent at the same stage last year, said [...]
(Read More)6th Mar 12
BRC survey shows drop in UK retail sales
by Natasha Redman
A brief increase in consumer confidence during the festive period appeared to evaporate last month after a drop in retail sales and a decline in the services sector. The British Retail Consortium revealed that retail sales volumes fell on a like-for-like basis of 0.3 per cent from the same month in 2011, when sales had [...]
(Read More)2nd Feb 12
Tesco exec who sold shares moved from role
by Natasha Redman
The Tesco executive who caused controversy by selling 50,000 shares in the retailer just days before it issued its first profit warning in over two decades has been removed from his old role. The UK chief operating officer Noel ‘Bob’ Robbins’ decision to sell the shares broke no stock market laws but came as a [...]
(Read More)31st Jan 12
Gary Speed talked of suicide before death
by Natasha Redman
Gary Speed, the former football manager of Wales, texted his wife just days before he was found dead and talked about taking his own life, heard an inquest. The 42-year-old, who played for Leeds, Everton, Newcastle, Bolton and Sheffield United, was found hanged by his wife Louise at their home in Cheshire on 27 November [...]
(Read More)30th Jan 12
New house buyers drop by 10.5 per cent
by Natasha Redman
There has been no respite for the struggling property market as the amount of new buyers fell by over 10 per cent in January compared with the previous month. Property analytics firm Hometrack’s latest monthly survey revealed that the amount of new buyers who registered with estate agents dropped by 10.5 per cent in January, on [...]
(Read More)27th Jan 12
Police officer numbers drop to ten-year low
by Natasha Redman
The number of police officers in England and Wales has dropped to its lowest level for 10 years, show official figures. In September 2011 there were 135,838 officers – 6,012 less than a year earlier, when there were 141,850. Out of the 43 forces only one, Surrey Police, increased the number of police officers during [...]
(Read More)26th Jan 12
Yahoo! chief vows to improve as profit drops
by Natasha Redman
Scott Thompson, the new chief executive of Yahoo!, attempted to manage expectations upon announcing his first set of figures, as the firm’s profit and sales dipped slightly during the fourth quarter. The chief executive broadly addressed the many issues which the internet company is dealing with – from the possibility of selling it to reviving [...]
(Read More)25th Jan 12
Sumatran elephant now critically endangered
by Natasha Redman
The Sumatran elephant is now listed as a critically endangered species after half of its population was lost in a single generation, triggering conservation groups to call for emergency measures in order to prevent its habitat from being destroyed. Deforestation is viewed as the main reason for the fall in numbers across Indonesia, which until [...]
(Read More)