New User:

Forgot your password?

Stock Market & Financial Investment News

News Breaks
July 21, 2014
06:14 EDTTSCDY, UN, ULTesco names Unilever's Dave Lewis as CEO, effective October 1
Tesco (TSCDY) announces that Dave Lewis will join the Board of Tesco on October 1 as CEO in succession to Philip Clarke. Philip Clarke will continue as CEO until that date when he will step down from the Board but will continue to be available to support the transition until the end of January 2015. Lewis, was previously President, Personal Care at Unilever (UN, UL). Tesco says "urrent trading conditions are more challenging than we anticipated at the time of our first quarter interim management statement on June 4. The overall market is weaker and, combined with the increasing investments we are making to improve the customer offer and to build long term loyalty, this means that sales and trading profit in the first half of the year are somewhat below expectations. The outlook for the full year will be influenced by the extent to which benefits from the investments we are making begin to be seen; by conditions in the overall market; and by any steps that may be taken during the remainder of the year to improve our customer offer further."
News For TSCDY;UN;UL From The Last 14 Days
Sign up for a free trial to see the rest of the stories you've been missing.
October 23, 2014
05:34 EDTULUnilever down 1.5% after reporting Q3 results
05:34 EDTULUnilever reports Q3 underlying sales growth of 2.1%
Subscribe for More Information
October 22, 2014
14:08 EDTTSCDYTesco preparing top shareholders for potential change at chairman, FT says
Subscribe for More Information
October 20, 2014
07:16 EDTTSCDYTesco Asia business targeted by private equity groups, The Times says
Subscribe for More Information
06:18 EDTTSCDYTesco executives in South Korea face prosecution, Telegraph reports
Tesco executives could face prosecution in South Korea over claims that the retailer's Homeplus arm sold personal data of over 5M customers to insurance companies, the Telegraph reports. In addition to Homeplus being probed, CEO Sung-Hwan Do and other executives could be investigated for their role in the scandal. Reference Link
October 19, 2014
13:54 EDTTSCDYTesco accounting probe reveals staff's 'inappropriate behavior,' Telegraph says
Subscribe for More Information
October 16, 2014
06:09 EDTTSCDYBerkshire Hathaway cuts Tesco stake to less than 3%, Telegraph reports
Warren Buffett's Berkshire Hathaway (BRK.A) has cut its stake in Tesco (TSCDY) to less than 3%, and now owns 245.3M shares in the supermarket chain, the Telegraph reports. Before October 13, Berkshire owned a 3.97% stake in Tesco. Buffett recently called his investment in Tesco a "huge mistake." Reference Link
October 14, 2014
07:29 EDTTSCDYTesco suspends three more execs as part of accounting scandal, Sky News says
Tesco has suspended three more executives as part of the company's GBP250M "black hole" accounting scandal, Sky News reports. According to sources, the newly suspended executives are Dan Jago, head of beer, wine and spirits, director of convenience Sean McCurley and William Linnane, another category director. Reference Link

Sign up for a free trial to see the rest of the stories you've been missing.

I agree to the disclaimer & terms of use