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Stock Market & Financial Investment News

News Breaks
July 21, 2014
06:14 EDTUN, TSCDY, 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
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September 2, 2015
06:13 EDTTSCDYTesco selects MBK as preferred bidder for South Korean unit, Reuters says
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September 1, 2015
11:57 EDTUL, UNMexico withholds tax refunds to P&G, Unilever, Colgate, Reuters reports
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August 27, 2015
19:38 EDTTSCDYFormer Tesco CEO to be questioned by U.K. prosecutors, Bloomberg says
Former Tesco CEO Philip Clarke has been notified to come in for "interviews under caution" with the U.K. Serious Fraud Office related to an earlier accounting scandal, Bloomberg reported earlier, citing people with knowledge of the matter. Former commercial director Kevin Grace has also been asked to come in for questioning, said the sources. Reference Link
06:35 EDTTSCDYTemasek partners with MBK for Tesco unit bid, Reuters reports
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August 25, 2015
06:16 EDTTSCDYKKR, Carlyle bid for Tesco's South Korean unit, Reuters reports
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August 21, 2015
07:36 EDTTSCDYKKR, Affinity teaming up to bid for Tesco's South Korean unit, Reuters reports
KKR (KKR) is teaming up with Affinity Equity Partners to bid for Tesco's (TSCDY) South Korean unit, Reuters reports, citing sources. Another bidder, Carlyle (CG), is teaming up with Singapore's GIC, the sources say. The Tesco unit is valued at about $6B. Reference Link

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