SEVEN DAYS.
Investors Chronicle - magazine and web content, May, 2009
Byline: Graeme Davies
Seven Days
Rose cuts
The strong run enjoyed by Marks & Spencer's shares came to a halt this week when the high street doyen bowed to the inevitable and slashed its final dividend by 33 per cent amid continuing tough trading conditions. UK revenues fell by 1.7 per cent, and even further on a like-for-like basis, as competition from cheaper rivals, a disappointing product range and the economic slowdown all hammered performance. To compound this, the previously strong food operation is struggling and margins across the business are under pressure.
See page 48
Shell shocked
Investors vote down pay plan
Shell's board was given a bloody nose by investors on Tuesday when 59 per...
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