| CATEGORY: PRESS ROUND-UP SHORT SECTOR: GENERAL RETAILERS |
Wed 07 Jul 2004
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LONDON (SHARECAST) - The trustees of Marks & Spencer’s pension fund are set to meet today to decide whether to allow Philip Green access to the retailer’s pension fund details, according to the Times.
The Takeover Panel handed Philip Green an ultimatum yesterday, reports the Independent, which said the retail entrepreneur must bid for Marks & Spencer by noon on 6 August or walk away.
A successful bid for Marks and Spencer by Philip Green would threaten its reputation as a responsible retailer, the business-led campaign for corporate responsibility Business in the Community has said, according to the FT.
The Times reports that brewing group Greene King is in exclusive negotiations to acquire a package of 430 neighbourhood pubs from the Laurel Pub Company for about £660m.
Virgin Mobile has drawn up plans to introduce a contract tariff for the first time in the company’s four-year history when it launches its flotation prospectus this morning, says the Times.
Vedanta Resources, the Indian mining group, axed its chairman Brian Gilbertson yesterday, citing a conflict of interest after he refused to give up a role at a rival Russian aluminium producer, reports the Telegraph.
The long-running battle for control of Baltimore, the former internet star which has now become a cash shell, ended in victory yesterday for its largest shareholder Acquisitor, says the Independent.
Thorntons, the luxury chocolate maker, is scrapping the job of human resources director because the chief executive says the role is unnecessary, according to the Telegraph.
The Telegraph says warnings from the Governor of the Bank of England that house prices could fall after years of inflation have already had an effect in dampening the market, according to a report by auditing firm PriceWaterhouseCoopers.
John Wardle, chairman of Manchester City Football Club and co-founder of John David Group, has scooped £10m after selling nearly half of his 25% stake in the sportswear retailer at an 11% discount, according to the Times.
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| Name |
Price |
% |
| Marks & Spencer Group |
344.70p |
-1.85% |
| Baltimore Technologies |
0.000p |
0.00% |
| Greene King |
443.00p |
-0.43% |
| JD Sports Fashion |
751.50p |
-1.44% |
| Thorntons |
83.50p |
-2.05% |
| Vedanta Resources |
2,447.00p |
-1.29% |
| |
| FTSE 100 |
5,258 |
-1.05% |
| FTSE 250 |
9,949 |
-1.25% |
| FTSE 350 |
2,776 |
-1.08% |
| FTSE All-Share |
2,715 |
-1.05% |
| FTSE Fledgling |
4,047 |
+0.07% |
| FTSE Small Cap |
2,782 |
-0.07% |
| techMARK |
1,636 |
-1.11% |
| Food & Drug Retailers |
4,498 |
-1.65% |
| General Retailers |
1,595 |
-1.61% |
| Mining |
20,834 |
-1.10% |
| Software & Computer Services |
634 |
-0.84% |
| Travel & Leisure |
4,446 |
-0.93% |
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