Marks & Spencer Group Plc reported the smallest decline in general-merchandise sales in more than two years, signaling that a new women’s clothing collection may be helping the U.K.’s largest clothing retailer regain shoppers.
Tesco Plc needs to invest as much as 1 billion pounds ($1.6 billion) to turn around its flagging U.K. business, a process which may take as long as three years, according to the U.K. retailer’s fourth-largest shareholder.
The U.K. must accept substantial losses on its stakes in Lloyds Banking Group Plc and Royal Bank of Scotland Group Plc if the government is to sell off its holdings within five years, say Britain’s biggest investors.
Several U.K. fund managers welcomed the reforms proposed for Britain’s banking sector, the Financial Times reported, citing comments from the managers, who included David Lis , head of U.K. equities at Aviva Investors ; Richard Black , U.K. equities fund manager at Legal and General Investment Management and James Alexander , head of equity research at M&G Group Plc , .
WM Morrison Supermarkets Plc is one of only two major British grocers not proven to have sold horsemeat mislabeled as beef this year. Even that -- a big advantage with tainted meat dominating headlines -- has done little to halt a market share slide for the company.
Tesco Plc’s third-largest investor, Legal & General Investment Management, questioned the future of the retailer’s U.S. and banking businesses as the company nears completion of a strategic review, the Sunday Times reported, citing the shareholder.