User: rohan Topic: Foreign Direct Investment in Retail
Category: Big Box Retailers :: Tesco
Last updated: Oct 20 2014 03:54 IST RSS 2.0
 
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After BJP's poll win, Tesco to be a test case in Maharashtra 20.10.2014 Latest News
Tesco is the only foreign multi-brand retailer to have made a proposal to operate stores in India
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Amazon to hire 1,000 UK distribution staff 13.10.2014 The Guardian -- Front Page
Online retailer, which has faced criticism for its working conditions, said permanent employees now work four 10-hour shifts a week, giving them three days off

Amazon plans to hire 1,000 permanent staff at its UK distribution centres to meet growing demand for goods online.

Britains biggest online retailer now employs 6,000 people at its warehouses and customer service centres in the UK. It will take on the extra staff in the next few months.

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The unromantic truth: supermarkets arent dying, and thats a good thing 11.10.2014 The Guardian -- Front Page
Tesco et al are our only hope if we are to feed the nation sustainably. So we need a reckoning, not a revolution For those minded to hate supermarkets and all their evil works, these have been sunlit days. With sales tanking at Sainsburys, Morrisons and Tesco, and the latter under investigation for overstating potential profits, some commentators have found the temptation to declare the end of big food retail just too hard to resist. We are apparently heading back to the days of Heartbeat and All Creatures Great and Small, when we all shopped locally, buying little and often from kindly shopkeepers who knew us by name. Its an appealing fantasy. That, however, is all it is. Sure, there may have been some increase in purchases from independent shops, but its from a very low base. Shopping little and often is generally a lifestyle choice for the affluent middle classes. Many people on low incomes dont have that choice, or the time. And while it may be an appealing fantasy, it really isnt a desirable one. ...
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Why supermarkets are on the way out 8.10.2014 The Guardian -- Front Page
The supermarkets business model is as broken as that of banking and Aldi and Lidl offer no magic fix Empires often seem at their most indomitable shortly before they fall. The march of the supermarket giants across our food and shopping landscape has, until very recently, felt inexorable. There is barely a small town in the country where the big chains have not planted their ring-road retail sheds however strong the local opposition and it seemed there was no part of our consuming lives they did not want to capture. Yet suddenly here they are in precipitate decline in the UK: Tesco , Sainsburys , Morrisons , skirmishing over falling sales, cannibalising their own profits with a price war, belatedly throwing margin cuts at the threat from the German discounters Aldi and Lidl . Asdas parent company, Walmart , has cut its profits forecast ...
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Tesco moves step closer to Tata; aligns top management of its back-end unit with Trent Hypermarket 6.10.2014 ET: Retailing
Tesco’s core business in India has been restricted mainly to Tesco Hindustan Wholesaling, which supplies merchandise, including its own labels.
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Brutal competition batters supermarkets the world over 5.10.2014 The Guardian -- Front Page
As discount chains knock spots off Sainsbury's, Tesco, Asda, and Morrisons in the UK, grocers in Europe and further afield are suffering too. Observer writers check out shopping struggles from Berlin to Beijing As they scramble to maintain market share, the big four British grocers can take comfort from the fact that at least they are not alone. The global supermarket industry has its share of epic competitive scraps, too. In Europe alone, the discounters that have wrought havoc for Tesco, Morrisons, Asda and Sainsbury's have an even more powerful grip on the industry. While Aldi and Lidl control around 8% of the UK market, according to figures from market research group Kantar the share controlled by discounters in France is 10% and in Germany home of Aldi and Lidl it is 37%. In the UK, two-thirds of the market is controlled by four players; this is the same as in Germany, while in France 56% of the market is controlled by the top four and in Spain just under 50%. A look at these markets, plus some of ...
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INSIGHT - Tesco's 250 million pound black hole: Who was minding the shop? 2.10.2014 Sify Finance
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Tesco’s 250-mn-pound black hole: Who was minding the shop? 2.10.2014 HBL: Home
"Things are always unnoticed, until they're noticed," Tesco Chairman Richard Broadbent said when asked how Britain's biggest retailer had failed to spot a 250 million pound ($410 million) sized ho...
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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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