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Stock Market & Financial Investment News

News Breaks
August 11, 2014
14:50 EDTTSCDY, SHLDSears names former Tesco executive as President, Chief Member Officer for Kmart
Sears Holdings (SHLD) announced that Alasdair James has joined the company as President and Chief Member Officer for the Kmart business. In this role, James will be responsible for driving the Kmart format strategy, managing the Kmart P&L and aligning merchandise, marketing, pricing and selling to Shop Your Way members' needs. Since 2007, James held roles of increasing responsibility with Tesco (TSCDY), where he most recently served as the commercial director for the company's global business unit.
News For SHLD;TSCDY From The Last 14 Days
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January 26, 2015
11:44 EDTTSCDYTesco to close Blinkbox Books service by end of February, FT reports
Tesco will close its Blinkbox Books e-book-selling service by the end of February, The Financial Times reports. The company, which has been divesting non-core units, had previously been in talks with Waterstones to sell the service. Reference Link
January 21, 2015
12:46 EDTTSCDYTesco narrows down chairman candidates, FT reports
Tesco has narrowed down its shortlist of candidates for the chairman role to two, three sources tell The Financial Times. Sir Ian Cheshire, the former CEO of Kingfisher, as well as Barratt Chairman and Dixons Carphone co-deputy Chairman John Allan are said to be vying for the role of Tesco's new chairman, the sources say. Reference Link
12:12 EDTSHLDBest Buy, home retailers seen getting biggest bump from Sears demise
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January 20, 2015
12:01 EDTSHLDOverstock.com to appeal patent infringement case
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January 19, 2015
06:35 EDTTSCDYTesco upgraded to Overweight from Equal Weight at Morgan Stanley
January 16, 2015
11:04 EDTSHLDFAA proposes $533,000 civil penalty against Sears Holdings
The U.S. Department of Transportationís Federal Aviation Administration proposes a $533,000 civil penalty against Sears Holdings Management Corp. for allegedly violating Hazardous Materials Regulations. The FAA alleges that Sears on Dec. 20, 2012 offered UPS 27 boxes, each containing one DieHard Portable Power Supply that encased a non-spillable battery, for air transportation to various locations in the United States. Workers at the UPS sort facility in Louisville, Ky., discovered six of the corrosive shipments were vibrating and one was warm to the touch. The FAA alleges that Sears failed to package the batteries in accordance with the Hazardous Materials Regulations to prevent unintentional activation. The agency also alleges the shipment was not accompanied by shipping papers to indicate the hazardous nature of its contents, and was not marked or labeled. Additionally, Sears offered the shipment without providing emergency response information and failed to ensure its employees had received required hazardous materials training, the FAA alleges. Sears has 30 days from the receipt of the FAA's enforcement letter to respond to the agency.
January 14, 2015
10:00 EDTTSCDYOn The Fly: Analyst Upgrade Summary
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09:46 EDTTSCDYAckman says 'unlikely' to invest in McDonald's, Bloomberg reports
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08:18 EDTTSCDYS&P downgrades Tesco to BB+, outlook stable
Standard & Poor's Ratings Services lowered its long-term corporate credit rating on U.K.-based international retailer Tesco PLC to 'BB+' from 'BBB-'. S&P also lowered its short-term rating on Tesco to 'B' from 'A-3'. We remove the ratings from CreditWatch, where S&P placed them with negative implications on December 10, 2014. The outlook is stable. S&P commented "The downgrade reflects our view that, given the structural changes and competitive pressures that Tesco is facing in the U.K. market, the credit supportive financial policy measures announced by Tesco's management are unlikely to sufficiently improve the group's financial risk profile to maintain an investment-grade rating... We anticipate that increased competitive and price pressures in the U.K. from both traditional and discount retailers could suppress any benefits from various management strategies oriented toward improving trading performance. Accordingly, we anticipate that Tesco's profitability will continue to remain under pressure as market competition in the U.K. remains high."
05:37 EDTTSCDYTesco upgraded to Outperform from Neutral at Exane BNP Paribas
January 12, 2015
06:35 EDTSHLDObama to press for law requiring disclosure of hacking, NY Times says
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06:11 EDTTSCDYTesco suspends another executive over accounding scandal probe, Telegraph says
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