BUY: Tesco (TSCO) It’s all about price points at the UK’s largest grocer as inflation reduces real household budgets, writes Mark Robinson. The market gave the thumbs down to Tesco’s full-year figures. The initial markdown of the shares seems curious given a 35.8 per cent increase in adjusted operating profit for its core retail segment,
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Boris Johnson faces the prospect of a crunch parliamentary vote on Tuesday over whether he misled the House of Commons in relation to the “partygate” scandal after the Metropolitan Police fined the prime minister for breaching Covid rules. The opposition Labour, Liberal Democrat and the Scottish National parties are in discussions over the best way
Selling Peloton, the maker of stationary bikes beloved of tech bros and suburban homemakers, will be uphill work. Top of the list of impediments is insiders’ stranglehold on voting rights. Like most of its quoted tech-minded peers, Peloton has a dual-class share structure that expires a decade after it listed — 2029 in this case.
To the victor go the spoils. Pfizer and BioNTech will secure 58 per cent of this year’s $64bn Covid-19 vaccine market, says analytics group Airfinity. But what about the also-rans? Plucky contenders are still puffing towards the finish line. This week, France’s Valneva won approval in Britain for its Covid jab. Valneva’s vaccine is based
One of the reasons I like writing Swamp Notes is that I almost always enjoy the resulting interaction with our subscribers (I’m sure you agree Rana). As readers go, you are unusually polite, thoughtful and engaging. Where you disagree, which does occasionally happen (I didn’t say you were perfect), most of you are constructive in
There has been much talk in recent years about companies as increasingly powerful political — even geopolitical — actors. As executives have spoken up about voting rights in the US or forced labour in China, the notion of CPR — corporate political responsibility — has begun to elbow out CSR, the decades-old acronym for corporate
Hello from New York, where the newsroom is buzzing with the start of another earnings season — a unique one, amid the war raging in Ukraine. Comments from some of the biggest US financial players suggest Wall Street has not shied away from ESG, even as commodity producers and energy companies surged in the first
Two months before its armies invaded Ukraine, Russia published a set of security demands that aimed at a drastic revision of Europe’s post-cold war order. Above all, the Kremlin wanted far-reaching restrictions on Nato’s presence in central and eastern Europe, a region where 14 countries joined the US-led alliance between 1999 and 2020. Two months
We’re taking Good Friday and Easter Monday off to enjoy some DJ Sol contemplate the future of finance, as one does. However, if you have some spare time we’d love it if you shared some of your own thoughts on the future of FT Alphaville in the comments below. What would you like to see
Dressed in a pale blue shirt and navy blue jacket, the 62-year-old sitting across the table from me at the Ristorante Cesarina in Bologna could be any British visitor enjoying the city’s medieval architecture and the March Italian sunshine. There are no obvious signs of either fame or fortune. But I am facing a revolutionary
Another global energy crisis has produced a series of political pledges to use energy more wisely. Russia’s invasion of Ukraine has brought calls to embargo the oil and gas exports that support the country’s economy, and laid bare the folly of maintaining fossil-fuelled energy systems that are no longer fit for purpose. This time, world
The superbloom of southern California was the ultimate botanical hit for plant geeks and meadow fanatics. In spring 2019, after an unusually wet winter, the region’s mountains and deserts erupted with wildflower meadows of orange California poppies, violet Phacelia and vivid blue Chia sage – a surreal display of nature so vast and vivid it
Perhaps sensing a buying opportunity, the chief executive of Victorian Plumbing has increased his stake in the company, though some may interpret the move as a means of shoring up investor confidence, which is probably at a low ebb given the company’s shares have fallen by 80 per cent since it floated on Aim last
South Korea will ditch all remaining social-distancing measures next week while downgrading Covid-19 to a “Class 2” disease alongside conditions such as tuberculosis and cholera. The east Asian country’s decision to remove restrictions offers a stark contrast with neighbouring North Korea and China, both of which continue to wrestle with variations of their zero-Covid approach.
Richard Desmond’s Northern & Shell group has become the third company to sue the UK’s gambling regulator over its decision to award the next National Lottery licence to Czech operator Allwyn, making it the most contested award in the competition’s history. Northern & Shell, which owns The Health Lottery, and The New Lottery Company, another
The seven movements of composer/vibraphonist Joel Ross’s The Parable of the Poet, his third album for Blue Note, use personal experiences as a springboard for collective endeavour. Solos emerge, but the dominant sonorities are the rich tones of four-brass layering overlapping melodies across a bed of rhythm. Titles like “Guilt”, “The Impetus (To Be and
During the long years when women composers were largely ignored the name of Ruth Gipps was never entirely absent. As an oboist, conductor and founder of two orchestras, she had a varied career that kept her in the public eye even if her music was only rarely getting performances. That neglect stemmed not only from
The first outing for Jon Balke’s collective Siwan, a 2009 album of the same name, saw a wide range of texts set for the Moroccan singer Amina Alaoui and a baroque ensemble. Its soundscape, with Jon Hassell’s trumpet wobbling behind a scree of percussion on the prison love song “Itimad”, was mystical without being slavishly
Small protests have broken out in Shanghai as residents grow increasingly frustrated with Covid-19 lockdown restrictions, just as Beijing looks to widen national support for its commitment to eliminating the coronavirus outbreak. Shanghai residents in the Zhangjiang compound in the eastern Pudong district pleaded with police on Thursday to let them stay in their rented
Good morning. Who cares if Elon Musk buys Twitter, the whole thing is stupid and annoying, let’s all do our best to ignore it. So it’s the US economy, and more on Russian oil, below. Also, we’re taking Monday off. While we’re away, try other good FT Newsletters, like Moral Money (sign up here) and
In aviator shades and a brightly coloured jacket, Natalia Sindeyeva is not a person to let life’s troubles stand in her way. The 50-year-old was treated successfully for breast cancer in 2020; today she puffs happily on miniature cigarettes from a heated tobacco device. A competitive dancer, she is in Istanbul to take part in