Latest finance news – Page 645
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Co-op to install mini-banks in 250 convenience stores
The Co-operative Group will put banking operations inside up to 250 of its biggest convenience stores to encourage customers to use more services within the mutual group, according to The Telegraph .
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UK economic growth grinds to a halt
UK economic growth has flatlined between April and June, increasing fears of a recession.
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Woolworths: The City View
Malcolm Walker’s surprise offer for Woolworths with backing from Baugur gave the group’s shares a fillip on Monday.
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Abrupt end to respite as sector share prices take turn for worse
After the party, the hangover. Retail’s rally proved short-lived and once again the sector headed south as food groups and general retailers alike underperformed the market.
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Signet poised for re-rating as it nears New York switchover
Jewellery giant Signet is likely to benefit from a re-rating when it switches its primary listing from London to the New York Stock Exchange.
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Findel quells City debt fears with sales climb
Home shopping group Findel has shaken off bad debt fears and posted a rise in sales. The retailer reported 2 per cent growth in group sales for the 19 weeks to August 15.
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Debenhams plagued by delayed developments
Debenhams is understood to have been hit by a string of delays to upcoming schemes it is due to anchor as the slowdown hits property developers hard.
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M&S brings forward trading statement
Marks & Spencer has fuelled fears of a deeper downturn on the high street by bringing forward its next trading statement by a month.
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Netto launches non-food Sale
Discount grocer Netto will launch a discount bonanza for the end of August to drive shoppers to its stores.
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Asda slashes pay-as-you-go tariff
Asda has unveiled a new flat-rate pay-as-you-go mobile phone tariff, which it claims will make it the cheapest service of its kind in the UK.
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Tesco lines up property deals worth £500m
Tesco is seeking to continue its sale-and-leaseback programme with a wave of deals that could be worth 500 million to the retailer.
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WHSmith to expand plastic bag fee trial
WHSmith is to extend its trial to scrap free plastic bags to other parts of the UK after a successful pilot in the Midlands and the Northwest.
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M&S benefits move triggers redundancy fears
Marks & Spencer is planning to cut redundancy benefits for its 60,000 staff, sparking fears of job losses.
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Matalan payment terms attacked
The Forum of Private Business (FPB) has put Matalan into its Hall of Shame following the retailer's decision to cut payments to suppliers by 2 per cent.
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Baugur approaches Woolworths shareholders to force negotiations
The Baugur-led acquisition consortium rejected by Woolworths has contacted other shareholders to try to force the board to open negotiations over a possible takeover, according to the Financial Times .
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Jumper enters administration
Lancashire-based fashion chain Jumper has fallen into administration.
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Recruitment dives as retailers hunker down
Thousands of retail jobs have disappeared in the past year as store groups initiated job freezes and other measures to reduce staff levels without axing staff.
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Analysts give new Woolworths boss two years to show improvements
City analysts hope to see evidence that Woolworths is being turned around in less than two years under new chief executive Steve Johnson.
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DSGi: The city view
DSGi was the week’s biggest riser as talk spiralled about a likely disposal of its Spanish business and troubled Italian chain UniEuro, encouraging short sellers to close their positions.
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Retail shares spring back as bid rumours surround troubled trio
Reversing the recent pattern, general retail stocks surged as bid speculation, stakebuilding and other chances of corporate action buoyed the sector.