City File: U-turn on Asda
Your support helps us to tell the story
From reproductive rights to climate change to Big Tech, The Independent is on the ground when the story is developing. Whether it's investigating the financials of Elon Musk's pro-Trump PAC or producing our latest documentary, 'The A Word', which shines a light on the American women fighting for reproductive rights, we know how important it is to parse out the facts from the messaging.
At such a critical moment in US history, we need reporters on the ground. Your donation allows us to keep sending journalists to speak to both sides of the story.
The Independent is trusted by Americans across the entire political spectrum. And unlike many other quality news outlets, we choose not to lock Americans out of our reporting and analysis with paywalls. We believe quality journalism should be available to everyone, paid for by those who can afford it.
Your support makes all the difference.Archie Norman, the youthful new boss of Asda, receives a pat on the back from the brokers Panmure Gordon. Pointing out that shares in the supermarket group, now 25p, are their lowest for 14 years, Panmure reckons it is time to buy. Price cuts are boosting volumes and sales are apparently ahead of Asda's internal budget. However, the buy tip seems a little confusing. According to a rival publication, Panmure's food retailing analyst, Michael Bourke, was very down on the company only four weeks ago and warned of a possible dividend cut. The shares then were around current levels. Perhaps he was misquoted.
Join our commenting forum
Join thought-provoking conversations, follow other Independent readers and see their replies
Comments