Peter Gold

In a pair of announcements released today, supermarket chain Tesco (LSE:TSCO) announced that it would be ceasing operations of its Tesco Cars arm, while it would also be revamping its line of low-cost, “value” groceries. Tesco Cars, launched last year in partnership with Carsite, was projected to list up to 3,000 used cars online every […]

Songbird Estates (LSE:SBD), the property company that owns Canary Wharf, announced its 2011 financial results today, posting a disappointing £4m in profits, down from £28.8m in 2010. The results confirm that high-priced commercial real estate is not immune from the economic downturn, as Songbird was forced to sell two properties and saw its rents drop […]

Automotive and cycling retailer Halfords Group (LSE:HFD) released its quarterly results today, announcing that sales were down 2.3% compared to the first quarter of 2011. The company attributes a slip in consumer demand within the automotive sector due to a particularly warm winter, when the retailer usually sees increased sales of replacement parts due to […]

In a statement released today, ADVFN (LSE:AFN) announced it will be partnering with TheStreet, Inc., a US-based financial news and services website founded by host of CNBC’s “Mad Money” and former hedge fund guru Jim Cramer. ADVFN will distribute TheStreet’s core premium products to its various markets across the globe. The partnership comes as ADVFN […]

Drilling at a controversial BP (LSE:BP.) deepwater oil well off the coast of the Shetland Islands could begin within days in spite of recent controversy over the well’s environmental impact. The oil giant was given the go ahead to begin drilling after thorough review of the well’s environmental impact and emergency contingency plans by the […]

GlaxoSmithKline (LSE:GSK), the pharmaceutical giant, announced today that it will be investing £500M in manufacturing, including a brand new £350M manufacturing facility in Ulverston, Cumbria. The remaining investment will be used for improvements to existing factories in Scotland and England, where key ingredients in the company’s vaccines are manufactured. The investment, strengthening...

Hector Sants, chief executive of the Financial Services Authority (FSA), announced today that he will resign from his post in June. This sudden resignation leaves the regulatory body reeling, as several senior employees have also resigned. Sants was expected to oversee the FSA’s transition to the “twin peaks model,” effective April 2nd.  Under this structure, the […]

Scottish & Southern Energy (LSE:SSE), a “big six” energy company, today lost an appeal against charges that the company had engaged in illegal sales techniques. Three judges at the Court of Appeals in London threw out the plea on the grounds that they “were not convinced that the conviction was unsafe.” Last May, the Surrey […]

Shares of Goldman Sachs (NYSE:GS) closed down 3.4% yesterday after a now former executive published a scathingly expository editorial in the New York Times. The London-based executive, Greg Smith, headed the firm’s United States equity derivatives department in EMEA and had been with the firm for 12 years, beginning as a summer intern. Smith asserted […]

Barclays (LSE:BARC) Chief Executive Bob Diamond earned £6.3m in remuneration last year according to its annual report, made available online today. For 2011, Diamond earned £1.35m in base salary, £2.7m in bonuses, and £2.2m in long-term incentives. Though Diamond earned £9m in 2010, £2.7m more than 2011, the announcement comes at a time when banking […]