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...sharlene.goff@ft.com...
...New entrants such as Metro, Tesco Bank and M&S are yet to have a meaningful impact....
...Neither Tesco nor M&S, which entered the current account market in 2012 but only launched a free account last month, are expected to take significant market share from the big banks....
...“The upgrade reflects that the Co-operative Group will incur less debt to support the recapitalisation of the Co-operative Bank than previously anticipated,” said S&P in a statement on Monday....
...Nevertheless it is a “more complicated business” than Tesco or Marks and Spencer, said Lord Myners, a former M&S chairman....
...His remarks were broadcast by BBC Radio 4’s Today programme on Tuesday, which the Barclays chief “guest edited”....
...Tesco Bank and Virgin plan to launch current accounts this year, while M&S Bank and the Post Office have done so in the past 18 months....
...Hamish Ogston, founder and major shareholder of CPP, told PA News the £1.3bn figure was “b******s” and “ridiculous” as there had never been a redress scheme that paid out 100 per cent....
...bonus rises at Lloyds and Barclays Moves this week by Barclays and Lloyds Banking Group to sharply increase their 2013 bonus pools sparked contrasting responses from investors and business groups, writes Sharlene...
...Additional reporting by Sharlene Goff The slideshow accompanying this article has been amended since original publication to correct the biographies of Gerry Grimstone and Robert Swannell...
...Walgreens Earnings DS Smith H1 (FY estimate) 21.17p (17.3p) Dollar General Q3 0.70p (0.63p) Mulberry H1 0.08p (12.90p) The Kroger Q3 0.53p (0.46p) Trading and sales updates Costco Wholesale Gap S&...
...Shortfall at Co-op ignites war of words A war of words broke out this week about who was responsible for the massive capital shortfall at the Co-operative Bank, writes Sharlene Goff....
...● As the world’s biggest temporary employment company, Adecco ’s fortunes tend to fluctuate in line with the global economy, writes James Shotter....
...————————————- Bankers’ bonuses Any bankers hoping that signs of economic recovery and improved City sentiment mean they will be in line for a fat bonus this year are likely to be disappointed, writes Sharlene...
...Customers will receive benefits that M&S said were worth up to £658 per year....
...The estimate is only 200,000 cars less than 2007’s pre-crisis peak, as part of a wider resurgence in the UK economy and manufacturing sector....
...Both S&P and Moody’s said their outlooks for Barclays could be stabilised if the bank quickly resolved its management issues....
...M&S opened its first branch last month but has not set a date to launch mortgages....
...Shares in Russia’s Uralkali fell 17 per cent on the week, Canada’s PotashCorp was down 20 per cent and K+S of Germany 29 per cent as analysts cut profit forecasts across the sector....
...Meanwhile, M&S has aimed its service firmly at its regular shoppers....
...Presented by Sharlene Goff, with Brooke Masters, Jennifer Thompson and Vinjeru Mkandawire...
...While profits are split evenly with M&S, additional charges deducted from the retailer’s share meant M&S recorded a pre-tax profit of £50.7m from the business for the same period....
...Those who do keep their jobs can expect far lower pay-outs than a year ago as the uncertainty caused by the eurozone crisis means investment banking revenues for 2011 are forecast to be about half of 2010’s...
...Temasek, with a triple A credit rating from Standard & Poor’s and Moody’s, raised S$650m up front, and has the option of increasing the deal by S$150m through an overallotment, or “greenshoe”, option....
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