Tesco will start a sale process in the coming months for its 129 small-format Japanese stores in the greater Tokyo area Tesco, the world’s third-biggest retailer, put its loss-making Japanese business up for sale, abandoning an eight-year attempt to break into a tough retail market and underscoring its new boss’s commitment to investor returns. The move is a rare admission of defeat by the British supermarket group and raised speculation it could be prepared to exit its much larger loss-making business in the United States if its current recovery plan fails to deliver. “It shows (new chief executive) Phil Clarke is taking an unemotional attitude to international businesses,” said analyst Chris Hogbin at brokerage Bernstein. Tesco’s shares were up 2.1% at £21.90 in early trading. Japan is the smallest of Tesco’s 13 international businesses, consisting of 129 stores in greater Tokyo employing just over 3,900 people and making less than £500m in annual sales, according to analysts’ estimates. Analysts had long tipped the business for disposal after it failed to make significant inroads into a market dominated by general merchandise operators such as Seven & I Holdings and Aeon. Many foreign retailers have struggled in Japan, hampered by fickle consumer tastes, a super-competitive landscape and prolonged, profit-sapping deflation. French retailer Carrefour and British drugstore chain Boots are among the companies to have pulled out over the past decade. “The move raises hopes that if the US business cannot be moved into profitability within the next couple of years … that too might be disposed,” Citi analysts said, referring to Tesco’s Fresh & Easy chain, which made £186m of losses in the year through February. Tesco chief Clarke, who took over from long-serving predecessor Terry Leahy in March, has laid out a plan aimed at significantly reducing US losses this financial year and moving into profit towards the end of fiscal 2012-13. “Any comparison with Fresh & Easy would be inappropriate,” Clarke told reporters on a conference call, when asked whether the Japanese exit set a potential precedent. Clarke was confident Tesco would find a buyer for the Japanese stores. However, officials at several Japanese retailers said there might not be a lot of appetite for shops which they described as larger than the average convenience store, but smaller than a regular supermarket. RBS analyst Justin Scarborough predicted a sale could raise between £50m and £75m — a minimal sum for a business that made more than £3.8bn of underlying profits in fiscal 2010-11 on sales of more than £67bn. Tesco, which trails Carrefour and US industry leader Wal-Mart Stores by annual sales, had already written down the goodwill on its Japanese business and stopped investing in it, fuelling speculation of an eventual exit. Clarke said it had invested less than £100m in the operation and wanted to focus resources on more promising business in countries such as China and South Korea. Tesco, with over 5,300 stores globally, exited Taiwan in 2005 by swapping assets there for stores run by Carrefour in the Czech Republic and Slovakia. Tesco Supermarkets Retail industry Japan guardian.co.uk
Continue reading …A federal safety panel blamed a series of missteps by one of the nation’s largest gas companies for the largest pipeline accident in a decade, a suburban San Francisco explosion that killed eight people and incinerated a neighborhood. (Aug. 31)
Continue reading …Falling out of love replaces infidelity as top cause of marriage breakdown in survey of divorce lawyers Extramarital affairs are no longer the leading reason why couples decide to split up, according to accountancy firm Grant Thornton’s latest annual study of divorce in the UK. Instead, “growing apart” is now the most popular motivation to file for divorce. Divorce lawyers interviewed by the firm said in 27% of cases falling out of love had led to a marriage breakdown. Extramarital affairs, which had been the prime reason since the survey began in 2003, fell to second place, with 25% citing this. Unreasonable behaviour was given as the reason for 17% of marriage breakdowns and 10% of couples cited a mid-life crisis. Of course couples could be indulging in fewer flings, but Louisa Plumb, associate director, forensic and investigation services at Grant Thornton, suggested that, as in so many areas of life, celebrities could be a factor. “The movement in the reasons for divorce is interesting and certainly difficult to explain. We are seeing an increasing number of ‘celebrities’ putting up with alleged affairs in their marriage or relationship – with Abbey Clancy staying with Peter Crouch, and Cheryl Cole looking set to go back to Ashley. “It may be that this is starting to have an effect on the behaviour of couples affected by extramarital affairs, with more marriages than before surviving a bout of infidelity.” Christine Northam, a counsellor working for the charity Relate , said she thought the change “reflected a slight shift in people’s expectations of relationships”. She said: “While in the past an affair would have been the signal that all was not right in a relationship, now that is not necessarily the case. People are not necessarily having those affairs before they decide the spark has gone out of their relationship.” One thing most celebrities don’t generally have to worry about is money, but this was the reason cited by 5% of divorcing couples. Despite the economic downturn and inflation putting pressure on household budgets, that figure hasn’t increased since last year, but divorce lawyers believe couples have been influenced by the recession. Of those surveyed, 82% said they thought people had delayed divorce proceedings because of the recession, with 54% saying that the lack of value and/or liquidity of personal assets was the greatest contributor to this delay. However, some lawyers said their clients had taken advantage of the economy and divorced during the recession in order to benefit from lower income and asset values and give their partner a lower settlement. “While the economy has officially been out of recession for over a year, there are still clear indicators that financial concerns are one of the driving factors in both the timing of divorces and the settlements that have been awarded,” said Plumb’s colleague Geoff Mesher. “With cuts in public spending and the economy continuing to falter, it would be unsurprising to see a continuation of this trend as asset values and income levels remain unpredictable.” David Salter, joint national head of family law at Mills & Reeve , dismissed the idea that footballers’ wives were behind any changes in couples’ behaviour, but agreed the recession had made a difference. “The downturn is making people very wary about what is at the end of the day an elective purchase,” he said. “House prices have fallen terrifically. Where before you would have sold the house and bought two new homes, that may not be possible any more. Assets are very difficult to value and people are concerned about their jobs.” The research also showed an increase in the number of lawyers working on pre-nuptial agreements for clients after a high-profile divorce case last year . Divorce Family finances Divorce Hilary Osborne guardian.co.uk
Continue reading …New humiliation for BP a day after ExxonMobil ended its hopes of developing Arctic offshore oil fields with Russia Bailiffs raided BP’s Moscow offices on Wednesday, a new humiliation for the British oil company a day after ExxonMobil signed an agreement that ended BP’s hopes of developing Arctic offshore oil fields with Russia. The bailiffs gave no reason for the morning raid, in which witnesses said about 15 black-clad special forces officers entered the central Moscow headquarters of BP Trading and sealed it off. But a lawyer for minority shareholders in TNK-BP, BP’s joint venture in Russia, said the raid was connected with a lawsuit they have filed over BP’s failed bid to team up with Russia in the Arctic. “We were ordered to leave the office and work from home,” a BP source said, adding that only senior company officials and lawyers remained in the building with the bailiffs. Tuesday’s pact between US oil company ExxonMobil and Russia’s state-controlled oil group Rosneft on developing Arctic offshore prospects gives Exxon access to potentially substantial reserves in Russia, the world’s top oil producer. Rosneft gained the deal by being able to bring in one of the few companies capable of drilling in the harsh, deep waters of the Arctic. It was a big blow for BP, ending its chances of salvaging its own agreement with Rosneft to develop the same prospects. BP’s deal collapsed shortly after it was announced in January following objections from TNK-BP shareholders which also prevented a parallel $16bn (£9.8bn) share swap deal between BP and Rosneft going ahead. Alfa-Access-Renova (AAR), the consortium that represents the shareholders, had objected to the BP-Rosneft pact, saying that BP was obliged to pursue all its Russian ventures through TNK-BP. There is a growing history of bad blood between BP and Russian authorities. Russian security forces searched BP’s headquarters in Moscow in 2008 during a corporate standoff at TNK-BP which resulted in TNK-BP boss Bob Dudley – who is now CEO of BP – being forced out of Russia. BP Oil Oil and gas companies Energy industry Russia guardian.co.uk
Continue reading …Garmin is best known for its in-car navigation systems , but today delved deeper into the realm of personal navigation with a brand new iPhone app for the eternally lost. For a dollar, you’ll get standard walking, driving and public transportation directions, but go premium for $2.99 a month or $29.99 for the year, and you’ll cop more add-ons designed to transform your iPhone into a full-fledged PND. Like the standard iPhone mapping system or HopStop, the subscription-based version of this app lets you integrate public transportation into your journey — but the added feature here is the ability to view public transit schedules like you can in the Google Maps app for Android. It also has spoken turn-by-turn directions, Garmin’s traffic routing and Google search, making it a handy alternative to a clunky navigation system. Check out the full PR after the break. Continue reading Garmin launches StreetPilot onDemand iPhone app, offers transit schedules Garmin launches StreetPilot onDemand iPhone app, offers transit schedules originally appeared on Engadget on Wed, 31 Aug 2011 07:00:00 EDT. Please see our terms for use of feeds . Permalink
Continue reading …re: AIDS Healthcare Foundation, Derrick Burts, Shelley Lubben, and the latest HIV scare. Derrick Burts-Pornography, STD’s and faulty AIM Clinic(Reuploaded for Clarity) James Jamesson – pornstar, actor & model speaks about sexuality & his HIV negative status Thefreakmo says: http://t.co/JRM4Qyr man yall keep yourself tested
Continue reading …my doggy dose some tricks Cortometraje de comedia! Tyler realising we have fish! DarleneMcguire says: Ideas you can use when training your Weimaraner Home … http://t.co/eFaaMZ1
Continue reading …Type: Book Title: The Sleep Lady’s Good Night, Sleep Tight: Gentle Proven Solutions to Help Your Child Sleep Well and Wake Up Happy See all customer reviews Product Description: Kim West, LCSW-C, known to her clients as The Sleep Lady®, has developed an alternative and effective approach to helping children learn to gently put themselves to sleep without letting them “cry it out”—an option that is not comfortable for many parents. Essential reading for any tired parent, or any expectant parent who wants to avoid the pitfalls of sleeplessness, Good Night, Sleep Tight offers a practical, easy-to-follow remedy that will work for all families in need of nights of peaceful slumber! New material and updates include: • New research on pacifiers and SIDS, the impact of sleep deprivation on postpartum depression • Additional guidance on feeding your baby and toddler and how feeding relates to sleep • What you can do to improve your baby’s sleep habits before 6 months • New information on breastfeeding • Preparing a sibling for the birth of a baby • Creating a secure attachment with your baby while instilling healthy sleep habits for the family • How to read your baby’s cries See the details
Continue reading …High court decides whether to issue 28-day injunction against eviction notice issued by Basildon council Almost half of the residents of Dale Farm could find legal new homes nearby if Basildon council would consider two new planning applications, Traveller supporters said before a last-minute injunction before a high court judge. An emergency injunction against the eviction notice on more than 80 families living at Dale Farm in Essex is being sought by the Travellers to allow time for the new applications to be heard for smaller sites on brownfield land owned by the government, one of which is within sight of Dale Farm on the outskirts of Basildon in Essex. The high court will determine on Wednesday whether to issue a 28-day injunction against the eviction notice issued by Basildon council. The Travellers would then seek a series of rolling injunctions to delay their eviction from Dale Farm for several months until alternative accommodation can be found. A two-day public inquiry into the second proposed new site three miles from Dale Farm is due to be heard on 22 November. Candy Sheridan, a Traveller and expert in planning law who is assisting Dale Farm residents, said she was optimistic that there was a good case for an emergency stop to be placed on the eviction, which will happen over a number of weeks from Thursday. “We know we’ve got good enough grounds,” she said. According to Sheridan, Basildon council has wrongly claimed to have “exhausted all avenues” in the 10-year planning battle over Dale Farm, leaving it no option but to bring in bailiffs to enforce the eviction of up to 400 Travellers, including more than 100 children. Sheridan said that the council has failed to determine applications submitted for alternative sites in the Basildon area. “All we keep saying to Basildon is why don’t you stop and let’s talk about this,” she said. A spokesman for Basildon borough council said they would not comment further until the outcome of the high court hearing and would be “rigorously” defending its position. If the injunction is refused by the judge, there will be at least 10 pitches available for Dale Farm residents in Suffolk but the vast majority will be forced to live on the roadside if they do not take up Basildon council’s offer of temporary accommodation in social housing. As well as Vanessa Redgrave, the Bishops of Chelmsford and Brentwood visited Dale Farm yesterday. “Our hope is there will be a stay of execution and a chance to look again for a permanent solution which is a solution for the whole community,” said the Rt Rev Stephen Cottrell, the Bishop of Chelmsford. The Rt Rev Thomas McMahon, Bishop of Brentwood, added: “There is a fantastic primary school where all these children go – eviction will disrupt the education for these children and they will have to go to another school where they will be in a minority and discriminated against. “In our society we’ve learned to respect minority groups and here we are breaking one up.” Dale Farm Roma, Gypsies and Travellers Housing Communities Planning policy Patrick Barkham guardian.co.uk
Continue reading …Robbie Crofts remains missing after his girfriend was found washed up on a Wirral beach Detectives investigating the unexplained death of a 17-year-old girl whose body was found on a beach fear her missing boyfriend may also be dead. Hayley Holmes’s body was found on the beach at Fort Perch Rock, New Brighton, Wirral, on Monday morning. A postmortem examination established that she had drowned. Her boyfriend Robbie Crofts was last seen at 8pm on Sunday. Merseyside police believe the couple had spent the day together in Liverpool city centre at the Mathew Street Festival. A pair of women’s sandals and men’s Converse trainers were found close to where Hayley’s body was discovered by a dog walker. A mobile phone was also found. One theory is that they could have gone for a late night swim that went wrong, although the weather on Sunday was very cold for August. Police say they are extremely concerned about Robbie Crofts’s welfare and are appealing for anyone who has seen him since Sunday to contact them. Detective Inspector Rachel Wilson, from Birkenhead CID, said: “We now know that Robbie and Hayley were together on Sunday night and had spent the day at the Mathew Street music festival in Liverpool before returning to New Brighton for a short while. “They were not seen by friends or family after 8pm, but some of their belongings have been found on the beach, near to where Hayley’s body was found. We are understandably concerned about Robbie, as are his family, and we would appeal for anyone with any information to get in touch.” He is described as white, 21, stocky, 5ft 8in tall with short black hair and blue eyes. Hayley was a sixth-form student at Upton Hall RC Convent Grammar School. Headmistress Patricia Young said: “Hayley was a bright, beautiful girl with a bubbly personality and so much potential to fulfil. “Hayley was also a former member of the school council, with a real zest for life and a desire to look after others. “She should have been returning to school next week to start her final year at Upton and begin applying to university. She was looking forward to all the special events planned for the year ahead. “Her friends and teachers are deeply shocked and our hearts go out to her family who are so very proud of her.” Thousands of people have joined a Facebook tribute page in memory of Hayley. Helen Carter guardian.co.uk
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