Sunday 25 February 2018

Media Bites

Tesco has abandoned three times as many new supermarket sites as all of its rivals put together over the last five years.

The grocer has slammed the brakes on 62 development sites across the country over the period as part of its efforts to cut costs while it struggles to turn the business around, according to figures from Barbour ABI.

Sunday Times

The owner of Sportingbet has teamed up with an American hedge fund to roar back into contention for Bwin. Party Digital Entertainment with a £1bn takeover bid. GVC, an online gambling company listed on AIM, is understood to have joined forces with Cerberus Capital Management to launch a new offer for Bwin. Bwin agreed to sell itself for £900m to its bigger rival 888 Holdings this month, despite a higher bid from GVC.

Sunday Independent

Irish chief executives are fearful of the impact of a government containing Sinn Féin or the Anti-Austerity Alliance on business, said PwC managing partner Feargal O'Rourke. PwC released a survey earlier in the week saying 83pc of CEOs were concerned about political change. O'Rourke said 29pc of those said they were "extremely concerned".

Les Echos

The CEO of Air France-KLM announced plans for a further €300m in additional savings and gave unions an ultimatum to reach agreement on cost reductions in three years. The airline has stalled in the first half of this year in the face of a general decline in fares.

Irish Independent

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