User: rohan Topic: Foreign Direct Investment in Retail
Category: Big Box Retailers :: Tesco
Last updated: Sep 30 2014 21:57 IST RSS 2.0
 
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Tesco has become too big to fail its time to break it up 30.9.2014 The Guardian -- Front Page
We cannot be so dependent on one company to distribute the nations food, argues retail expert Bill Grimsey

Imagine a world without Tesco. Difficult isnt it? So ubiquitous is Britains biggest retailer that no high street seems right without it.

But then didnt we used to say the same about Woolworths?

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Tesco chiefs face grilling by MPs 25.9.2014 The Guardian -- Front Page
Committee chairman Adrian Bailey says Tesco has questions to answer and ponders widening inquiry into grocery sector

Tesco executives could face a parliamentary committee over its overstatement of profits, the select committee chairman told the BBC on Thursday.

Adrian Bailey told BBC Radio 5 Live that Tesco executives could be asked to explain its £250m misstatement of first-half profits which wiped £2bn off its stock market value.

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Tesco loses £2bn in value as profit overstatement investigation begins 23.9.2014 The Guardian -- Front Page
Shares tumble as Britains biggest supermarket chain suspends four executives after profits were inflated by £250m

Tesco has been plunged deeper into crisis after it was forced to suspend four senior executives and call in investigators following the discovery that its profits had been artificially inflated by £250m.

More than £2bn was wiped off the value of Britains biggest retailer on Monday after its new chief executive told the City that forensic accountants and lawyers had been drafted in to scrutinise its books in the wake of a warning from a whistleblower that payments from suppliers were being misbooked and business costs were being glossed over. Tesco said the changes had misleadingly boosted profits by £250m in the first six months of the year.

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Tesco: why did it all go so wrong? 22.9.2014 The Guardian -- Front Page
Tesco starts investigation into overstated profits There are two types of chancellor, Gordon Brown used to joke. Those who fail and those who get out in time. Tescos former chief executive, Terry Leahy , now enjoying a lucrative career as a feted business guru, got out in time. The irony is that many of the problems now bringing the retail giant low are a legacy of the strategic decisions he made. The latest blow to the company is the extraordinary overestimate of expected half-yearly profits amounting to a quarter of what was expected for the period that has seen Tesco lose about a tenth of its value, massive in City terms. Its an unwelcome greeting for the new chief executive, Dave Lewis , who has only just taken over from Leahys successor, Philip Clarke. The latter left after failing to resolve the problems he ...
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Primark to launch £200m bid to crack US clothing market 9.9.2014 The Guardian -- Front Page
Retailer reveals ambition to build substantial chain in £202bn sector after year in which it closed in on M&S in sales and profits

Fashion retailer Primark is to plough £200m into a bid to crack the notoriously difficult US market as it looks to succeed where some of Britain's biggest high street names including Tesco, Marks & Spencer and Sainsbury's have failed.

The retailer will start its campaign by opening a high profile store in central Boston at the end of next year but it is already in talks to open outlets in shopping malls in neighbouring states, including New York and New Jersey pointing to ambitions to build a substantial chain in the £200bn US clothing market.

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Government will not Allow FDI in Multi-brand Retail: Nirmala Sitharaman 8.9.2014 newindianexpress.com
The NDA government will not allow foreign direct investment in multi-brand retail, Commerce and Industry Minister Nirmala Sitharaman said Monday.
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UK Stocks-Factors to watch on Sept 1 1.9.2014 Sify Finance
LONDON, Sept 1 (Reuters) - Britain's FTSE 100 index is seen open between 4 points higher and 7 points lower on Monday, according to financial bookmakers. For more on the factors affecting European
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European Factors to Watch- Flat start expected; D. Telekom in focus 1.9.2014 Sify Finance
(Adds further spreadbetter calls, news) LONDON, Sept 1 (Reuters) - Financial spreadbetters expected Britain's FTSE 100 to open between 4 points higher and 7 points lower, with Germany's
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Tesco's third profit warning this year - what the analysts say 29.8.2014 The Guardian -- Front Page

Here is what analysts made of Tescos third profit warning this year

Tesco issued its third profit warning of the year on Friday and slashed its half-year dividend and capital spending. New chief executive Dave Lewis is being parachuted in a month earlier than planned and will now take the reins on Monday. Here is what analysts made of the news.

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Can supermarkets ever be sustainable? 26.8.2014 The Guardian -- Front Page

Walmarts new boss is on a mission. Will his drive for renewable energy and waste reduction transform the supermarket model?

In his recent appearance on Desert Island Discs, former Tesco CEO Sir Terry Leahy, described small independent shops as medieval. A recent Economic Evaluation for Herefordshire carried out by the Transition Network and REconomy Herefordshire found that between 70 and 83% of all food and drink sold in Herefordshire was sold through just five supermarkets in the county. In Brixton, London, 93% of food is sold through supermarkets.

They dominate our retail landscape but is the supermarket model inherently incapable of ever being sustainable? What might a different approach look like?

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British Deputy PM Clegg to visit India from Monday to Wednesday 22.8.2014 News
Will be visiting New Delhi, Mumbai and Bangalore
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Government won't entertain FDI in multi-brand retail: Nirmala Sitharaman 14.8.2014 ET: Retailing
BJP has criticised the UPA-approved multibrand retail policy that allows 51% foreign direct investment, but has not made any move to roll it back.
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SPAR international and Max hypermarkets announce new partnership 13.8.2014 News
SPAR International and Max Hypermarkets today announced a new partnership agreement which will see over 30 SPAR Hypermarkets operational across India by 2019
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India only received investment bid in multi-brand retail from Tesco: Textiles Minister 8.8.2014 ET: Retailing
Apart from UK-based Tesco Plc, the government has not received any other proposal for investment in the country's multi brand retail sector so far, Parliament was informed today.
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India only received investment bid in multi brand from Tesco: Govt 8.8.2014 Latest News
Apart from UK-based Tesco Plc, the government has not received any other proposal for investment in the country's multi brand retail sector so far, Parliament was informed today.
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India as Source Country for Global Apparel Importers 8.8.2014 Govt of india: PIB
India is sixth largest supplier in world with 3.7% share in global readymade garment exports as per World Trade Integrated Solutions database of 2013 while Bangladesh and Cambodia are 2nd and 14th largest readymade garment supplier in global market respectively.
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Titan helps Tatas win retail sweepstake 8.8.2014 Rediff: Business
Perhaps, the group's leadership position and potential in the retail segment prompted Tata Sons Chairman Cyrus Mistry to identify retail as one of the group's four growth clusters in his recent Vision 2025 statement.
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Titan helps Tatas win retail sweepstake 8.8.2014 Latest News
Leadership position and growth potential prompted chief Cyrus Mistry to identify retail as one of the group's four growth clusters
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UK interest rates on hold at 0.5%; no change at the ECB - Business live 7.8.2014 The Guardian -- Front Page
The Bank of England kept rates on hold at 0.5% and there was no change at the ECB, against a backdrop of weak German industrial output and Italys slide back into recession. 12.46pm BST The ECB has left rates on hold, as expected. In June, the bank cut its main refinancing to a record low of 0.15 per cent and put its deposit rate in negative territory, charging banks 0.1% on a portion of their reserves parked at the bank. It also launched a new ultra-cheap, four-year loan program, dubbed TLTROs, to be rolled out later this year. 12.30pm BST RBS points out that market opinion on when rates will rise has shifted forwards since the beginning of the year... 12.28pm BST But wage growth in the UK is amazingly low compared with the 40-year average. 12.26pm BST Chris Williamson at Markit says its all about when wage growth starts to pick up. If pay starts to rise in coming months, the first rate hike looks likely in November. Otherwise, any tightening of policy can wait until next year. 12.24pm BST The British ...
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Trent Q1 profit jumps 3.5-fold to Rs 61.11 cr 7.8.2014 Latest News
Tata group retail firm Trent Ltd today reported over three-and-half-fold increase in standalone net profit at Rs 61.11 crore for the first quarter ended June 30, 2014-15, boosted by partial sale of stake in Trent Hypermarket to UK's Tesco.
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