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Stock Market & Financial Investment News

News Breaks
February 21, 2014
13:52 EDTTSCDYTesco looks to cut exposure to Turkey, FT says
Tesco is looking into a deal to cut its exposure to Turkey as it aims to turn around its struggling domestic business, reported the Financial Times. Reference Link
News For 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
January 19, 2015
06:35 EDTTSCDYTesco upgraded to Overweight from Equal Weight at Morgan Stanley
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

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