Tesco’s chief executive Phillip Clarke is to leave the retail giant in October and will be replaced by Dave Lewis at Unilever.It will be the first time Tesco has appointed someone from outside the firm to the position of chief executive.In a statement, Tesco chairman Richard Broadbent said: "Philip Clarke...
Cross channel company Eurostar has seen passenger numbers rise 2% in the first half of 2014 with a 0.5% rise in revenue. However, the second quarter was impacted by the timing of UK’s Easter and May holidays as well as the effect of people staying in to watch the World...
Online auction site eBay made $676 million in profits from March to June, beating expectations and despite a “challenging quarter”.In the financial period, the company saw a slump in its search rankings and a data breach which saw up to 145 million accounts compromised. However, the company settled a dispute...
The Co-operative Group has agreed a deal to sell its pharmacy chain to cash and carry owner Bestway Group for £620 million. The chain of 774 branches and 6,500 employees will be transferred in October.Richard Pennycook, interim group chief executive of the Co-operative group, said:"Bestway is acquiring an excellent pharmacy...
A French judge has told a blogger that she must pay EU1,500 (£1,200) and change the title of a restaurant review because it was too prominent in Gooogle’s search results.The unfavourable review of Il Giardino restaurant in the Aquitaine region of southwestern France was titled "the place to avoid in...
Apple has agreed to pay up to $400 million (£233 million) in a settlement to a lawsuit over allegations over price fixing of e-books.It is the latest move in a case that dates back a 2013 ruling that it had violated anti-trust laws over pricing by colluding with publishers to...
Sportswear retailer Sports Direct has celebrated a “record year of out-performance” in pre-tax profits rose 15% and total group sales also rose 23.8% to £2.7 billion, from £2.1 billion a year earlier. Meanwhile, like-for-like sales were 10.5% higher.Dave Forsey, chief executive, said: "We have delivered another record year of out-performance...
Mother and baby products retailer Mothercare has seen success in the early days of its turnaround plan, led by its new CEO Mark Newton-Jones.Since Mr Newton-Jones took over as interim boss in March after Simon Calver quit, he has “already made a substantial difference in many areas” including the introduction...
Sports Direct founder and deputy chairman Mike Ashley has said that he will not be awarded any shares under the 2015 Bonus Share Scheme.Keith Hellawell, non-executive chairman, said: “The resolution passed by shareholders to implement the 2015 Bonus Share Scheme clearly recognises the success of previous company-wide schemes, and the...
Young people have been hit the hardest by the recession, according to a report by the Institute of Fiscal Studies (IFS).According to the paper, household income for people aged 22-30 fell by 13% between 2007 and 2013, whilst people aged between 31 and 59 saw a 7% drop.Employment rates were...
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