City firm Berenberg sees Asda as top of the food chain in the UK, making life tough for the big four listed supermarkets.
Its growth will mean rival Morrisons (LON:MRW) will watch on as shoppers head for the exit as the broker expects it to lose market share.
Analyst Niamh McSherry reckons investors should ask for a refund after downgrading the stock to ‘sell’ from ‘hold’ with a reduced 300 pence target price, down 40 pence.
“Although we appreciate Morrisons’ greater food exposure and strong balance sheet, we expect it to lose market share in 2012 and beyond,” she said.
McSherry suggests investors switch from Morrisons to Sainsbury’s (LON:SBRY) to “protect against Asda’s strength”.
The analyst has bumped up her target price for Sainsbury’s to 360 pence from 330 pence, adding that the giant can continue to add shoppers to its basket in the push for market share.
Given its exposure to London and the South East and its convenience store business, she predicts Sainsbury’s will avoid the brunt of Asda’s plot to edge out its competitors and sticks with her ‘hold’ recommendation.
Elsewhere in retail, the rain is still putting a damper on B&Q owner Kingfisher (LON:KGF).
There has been no place for barbeques or sun loungers in Britain so far this summer as the showers continue to wash out sales at the retailer.
As a result, Nomura reins in its full-year expectations for the company, knocking down its target price to 325 pence from 340 pence.
The broker remains upbeat however with a ‘buy’ stance, claiming that longer-term investors should sit up and take notice given the “attractive valuation”.
Although Tullow Oil (LON:TLW) revealed yesterday it had been hit by US$440 million in asset write-downs, Credit Suisse preferred to focus on the positives in its note on the oil firm today.
Analyst Thomas Adolff sees plenty of catalysts ahead for the stock, including Wawa in Ghana reaching total depth in July, results from Jaguar in Ghana in July or August, while the Zaedyus-2 well in French Guiana should spud soon, with a number of wells also set to be drilled in Kenya and Ethiopia.
The analyst retains an ‘outperform’ rating but scratches off 15 pence from his target price to 1,841 pence.
Despite closing 1.9 per cent lower yesterday, Tullow shares lifted 1.4 per cent to 1,524 pence in trading today.
Shares in energy company Centrica (LON:CNA) slipped 4 pence or 1.3 per cent today following a downgrade from US heavyweight broker Goldman Sachs.
It cut its rating to ‘neutral’ from ‘conviction buy’ as well as lowering its target price to 422 pence from 441 pence.
Source: www.proactiveinvestors.co.uk
As close you barefaced an Essex girl gets: TOWIE's Lydia Bright tones down the slap after a big night out - Daily Mail
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It's a well known fact that the stars of The Only Way Is Essex love to party and nothing is better than a big night out on the town which is usually followed by a slow start the next day.
But after a big night out with her boyfriend Tom Kilbey, Lydia Bright was spotted yesterday out and about in Loughton, Essex proving she's a natural beauty.
The 21-year-old showed of her flawless complexion as she ran errands in a very demure ensemble.
Fashionista: Lydia looked elegant in a mustard pencil skirt and a black camisole which she teamed with a pair of grey pumps by Vivienne Westwood
Flawless: Lydia Bright proved she's a natural beauty when she was spotted in Essex yesterday makeup free
Going for a more sophisticated look than people are used to seeing the TOWIE girls, Lydia stepped out in frilly black camisole which she teamed with a mustard coloured pencil skirt.
Having spent the previous evening with her head in the clouds, the boutique owner opted to wear a pair of grey pumps by British designer Vivienne Westwood.
Completing her outfit the beautiful blonde armed herself with an over-sized black leather bag and a pair of black sunglasses as she wore her hair back in one.
On the move: The 21-year-old smiled and waved at the cameras as she ran her errands
At the beginning of the year following her breakup from her long term boyfriend and co-star James 'Arg' Argent Lydia went on the hunt for her own place.
The reality TV starlet was pictured back in February with her mother Debbie, who also stars alongside her in the hit ITV show as she checked out a properties in Essex.
However yesterday on Twitter she revealed why she wasn't ready to move out just yet when she uploaded a picture of herself and family members jumping on a trampoline.
Her tweet read: 'This is why I can't move out I would miss the chaos to much. Love my family ♥ Nom, Bob, Roma & @freddiebright1'.
Her reason to stay: Lydia uploaded a picture of herself and her family jumping on a trampoline to her Twitter account as she explained why she wasn't ready to move out of her family house just yet
On Tuesday evening TOWIE's Lydia Bright and Tom Kilbey brought a new sophisticated spin to cream as they headed out to the Katy Perry Part Of Me London premiere in matching palettes.
While Lydia wore a stunning feather-trimmed cream Coast dress with nude peeptoe heels, Tom opted for a matching pair of trousers, with a beige shirt and tan boots.
The couple looked sleek and polished as they posed up for photographers at the event in London's Leicester Square.
Co-ordinating in cream: Lydia Bright and boyfriend Tom Kilbey looked sleek in matching colours as they attended the London premiere of Katy Perry's 3D movie Part Of Me on Tuesday evening
Following the event, Lydia took to her Twitter page and wrote: 'Loved the @katyperry movie I laughed & I cried amazing lady. Now drinkies with the crew.'
But Tom had some grumbles about his girlfriend's behaviour at the premiere, jokingly writing on his Twitter page: '@LydiaRoseBright been here 10 mins already ate the popcorn and the chocolate #filmaintevenstarted.'
Family night out: Lydia and Tom were joined by her mother Debbie and sister Georgie for the event
Source: www.dailymail.co.uk
Essex: People connected to Essex Police to carry Olympic torch - essexcountystandard.co.uk
Essex: People connected to Essex Police to carry Olympic torch
11:39am Thursday 5th July 2012 in Countywide news By Emma Robinson
Three people connected to Essex Police will carry the Olympic torch as it travels through the county this week.
John Bowman, the husband of a former Essex Police sergeant who died in February, will be carrying the Olympic torch in memory of his wife.
Kirste Snellgrove, served with Essex Police for 22 years and despite her health problems completed marathons and other challenges to raise money for Breast Cancer Campaign.
Kirste had originally been nominated to carry the torch by the charity but John, 45, of Little Dunmow, will now carry it in her honour.
He said: "It’s a great honour to be able to carry the torch for Kirste but it will be a difficult day for me.
"I know how much Kirste was looking forward to carrying the torch so it’s really fitting that I’ll be able to carry it for her.
"I’ll do whatever I can to raise awareness of breast cancer and the legacy Kirste left behind.”
Former Chief Superintendent Jed Stopher, leader of the Essex Police Marathon Team, will carry the torch on Saturday.
The 49-year-old was nominated to become a torchbearer by his wife and staff at Broomfield Hospital after helping to raise thousands of pounds to help equip an intensive care unit at the hospital by running marathons.
He said: "It’s a real honour to be part of the torch relay. I’ve got my kit ready and I’m looking forward to the occasion.”
Pc Alan Bowen of Leigh Neighbourhood Policing Team will also carry the torch tomorrow.
The 40-year-old was nominated by his wife because of his continual efforts to make his community a safer place to live.
He said: "I always put 110% into my work and I hope that I can help people to feel safe and happy in their local community.
"I am looking forward to what is a once in a lifetime opportunity.”
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Source: www.essexcountystandard.co.uk
450 jobs in store as Asda shows off plan - This is Sentinel
DETAILED plans for a new supermarket have been unveiled.
Asda wants to build a 160,000 square foot store on the former Somerfield site in Longton as part of a wider regeneration scheme.
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PLANS: The former Somerfield site.
The plans also include a new doctors' surgery and two industrial units, as well as improved road and pedestrian links.
Around 450 jobs could be created across the development in Spring Garden Road.
Part of the site is currently occupied by Willow Bank Surgery and a small number of independent businesses.
But Willow Bank could be one of six surgeries which relocates to a new primary care centre, proposed for a site in nearby Coronation Avenue.
The proposed two-storey supermarket would be built on stilts above a car park, with spaces for up to 440 cars.
Access to the site will be via Trentham Road, with the existing roundabout being replaced with a junction.
According to the application, pedestrian routes across the site and into Longton town centre would be improved as well, with a new bus stop being established outside the store.
The application states: "The design team appreciate the significant impact this scheme will have for local people as well as for visitors to Longton and therefore, we endeavour not only to commit to sustainability and environmental issues, but also to reflect them through the architectural design and the provision of a high quality sustainable public space."
NHS Stoke-on-Trent and developer Prima 200 held a consultation for the proposed primary care centre yesterday.
The single-storey building will be built on what is currently open waste ground.
Some residents raised concerns that the plans would not include a multi-use games area (MUGA), despite earlier suggestions that it would.
But Sandra Jones, project manager for the PCT, said there would be no room on the site for a MUGA, due to the need to provide 146 parking spaces.
Most people at the meeting said they were happy with the plans.
Margaret Webb, aged 73, of Conifer Grove, Longton, said: "I think it's a brilliant idea to build the health centre, especially if they're going to provide things like blood testing. It will mean older people in the area won't have to get a bus to Meir."
Peter Lowe, aged 57, of Heathcote Road, said: "I think it's a good plan. I think they should find room for the MUGA though. They could probably lose some parking spaces, as there will never be enough whatever they do."
The practices set to move into the centre are: Willow Bank, in Trentham Road; Mayfield Partnership, in Trentham Road; Longton Hall Surgery, in Longton Hall Road; the Sinha and Chand practices, in Rosslyn Road; and Dr Vasantha Maheepathi, in Dunrobin Street.
Source: www.thisisstaffordshire.co.uk
Sussex woods saved from sell-off (From The Argus) - The Argus.co.uk
Sussex woods saved from sell-off
10:20am Thursday 5th July 2012
Campaigners are celebrating after the Government announced it would no longer try to sell off historic woods to private developers.
The Government has announced it will not sell off the public forest estate after an expert panel called for the 258,000 hectares of woodland to remain in public ownership.
More than a dozen forests in Sussex were among those listed as potential commercial projects including Friston Forest near Seaford and Abbots Wood near Hailsham.
Brighton Pavilion MP Caroline Lucas described the decision as “an incredible victory” but warned forests would remain under threat if the Government imposed further cuts on the Forestry Commission.
Yesterday (July 4), environment secretary Caroline Spelman pledged the forests would stay in public hands following the publication of a report by the specially commissioned Independent Panel on Forestry.
The panel said the estate should remain in public ownership as land held in trust for the nation and that the Government needed to invest in the public forest estate to avoid having to sell off woods to balance the books.
The Department for Environment, Food and Rural Affairs also confirmed that the planned sale of 15% of the public forest estate, the most that can be sold off under existing legislation, would not go ahead.
The sale to raise up to £100 million had been put on hold while the panel conducted its inquiry.
The sell-off plans caused a huge public outcry when they were announced last year with more than half a million people signing a petition against the proposals.
Speaking yesterday Dr Lucas said: “Today’s announcement that the Government will not be selling off our public forests is an incredible victory for the many groups and individuals, including thousands in my constituency, that joined forces to protect the forest estate for people to enjoy today and for future generations.”
However, she added that questions about the management and funding of the estate remained.
She said: “There is a real risk that the Forestry Commission’s ability to evolve and build upon its track record of innovation and value for money will be hampered by current cuts to its budget and by job losses – the Government must now promise that there will be no further cuts to the Commission’s budget and staff.”
Simon Pryor, the natural environment director for the National Trust, said: “We encourage the Government to adopt and implement this report.
“If it does, the nation’s protest last year will not only have saved the public forest estate, it will also have triggered a step-change in the way we treat woodland in England.”
Source: www.theargus.co.uk
Sussex woodland saved from potential development after government U-turn - thisissussex.co.uk
The government has announced that it is abandoning a plan to sell of historic woodland in the UK, including more than a dozen in Sussex.
A panel set up by the government has advised that more than 250,000 hectares of woodland should remain in public ownership.
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More than a dozen Sussex woods have been saved from potential development
The U-turn follows a backlash from the public who want to protect one of the UK's iconic natural wonders.
The decision means that some of Sussex's favourite areas of nature such as Friston Forest, near Seaford and Abbott's Wood, near Hailsham will be protected from commercial development.
The government announcement was made by Caroline Spelman, the Environment Secretary after a report was published by the specially commissioned Independent Panel on Forestry.
The panel concluded that the woodlands should be held in public ownership and that the government needs to find other ways to increase revenue to avoid having to sell off woods in the future.
The Department for the Environment, Food and Rural affairs (DEFRA) said that the planned sale of a maximum of 15 per cent off the nation's woodland will not go ahead.
The plans proved deeply unpopular with the public, with more than half a million people signing a petition against the proposals.
Brighton Pavilion MP Caroline Lucas said the decision represented "an incredible victory".
She said: "Today's announcement that the Government will not be selling off our public forests is an incredible victory for the many groups and individuals, including thousands in my constituency, that joined forces to protect the forest estate for people to enjoy today and for future generations.
"There is a real risk that the Forestry Commission's ability to evolve and build upon its track record of innovation and value for money will be hampered by current cuts to its budget and by job losses – the Government must now promise that there will be no further cuts to the Commission's budget and staff."
Source: www.thisissussex.co.uk
Sussex’s 2nd XI runners-up in SE t20 finals day - Chichester Observer
Sussex’s 2nd XI were the beaten finalists after beating Essex’s 2nd XI in the semi-final, while England had progressed past Worcestershire’s 2nd XI.
Sussex batted first in the opening game against Essex and scored 166-6 from their 20 overs, with 70 from Matt Machan and 32 from Luke Wells.
In reply, Essex never looked set to chase down the total and a devastating spell of 4-17 from James Anyon accounted for the Essex middle order as they could only make 107-8.
Michael Rippon, following up his first-team debut against Kent the previous night when he took 4-23, was again among the wickets and took 3-22.
The victory meant Sussex would go on to face England Under-19’s in the final following their victory over Worcestershire in the semi-final.
Sussex won the toss and, after electing to bat, scored 156-6 with Wells hitting 53, Harry Finch 28, Devon Endersby 23 not out and Will Adkin 21.
The total was not enough, though, as England won by eight wickets with more than two overs remaining.
Alan Fordham, head of first-class cricket operations for the ECB was in attendance and awarded the man-of-the-match award to Ben Duckett, representing Northants, in the England under-19 side.
Joe Hudson, Arundel Castle club secretary, said: “This was a very successful day, for once – this season – played under pleasant weather conditions. We are pleased to have been able to host the event for the ECB.”
Source: www.chichester.co.uk
Essex gets caught up in hype around 50 Shades of Grey - essexcountystandard.co.uk
Essex gets caught up in hype around 50 Shades of Grey
3:00pm Thursday 5th July 2012 in News By Will Lodge
WHIPS, handcuffs and the red room of pain – readers have gone mad for the erotic novel Fifty Shades of Grey.
Copies of E L James’ cult book have been flying off the shelves of the town’s bookshops and library lenders have been told to expect a wait of months before they get their hands on it.
The book follows the story of university graduate Anastasia Steele as she embarks on a kinky affair with sexy and mysterious billionaire Christian Grey.
Essex Libraries have 69 copies of Fifty Shades of Grey, but all are currently on loan, with a waiting list growing all the time.
Essex county councillor Jeremy Lucas said: “We have ordered an extra 40 copies of Fifty Shades of Grey. All copies are on loan and the waiting list exceeds 600 – it is the biggest waiting list we have had for any book, except the Harry Potter titles.”
Booksellers have been astounded by the book’s success.
Peter Donaldson, owner of Red Lion Books in Colchester High Street, said the shop had sold around 50 copies in the past week.
He said: “It is one of our bestsellers by quite a way, it is off-the-scale.
“This only happens every few years when a book takes off in a way which throws it outside the normal focus.
“The publisher has been struggling to keep up with demands. It engaged a printer in Germany and held 17 print runs to keep up. It just keeps selling more and more.
“It proves nobody knows anything – all these experts who pronounce how much a book will sell missed this completely. Now publishers are blowing the dust off old books in this genre and putting new covers on them. Fashions change quickly these days.”
Bookshops have welcomed the phenomenon for the way it has opened up reading to a potentially new market.
Ginny Waters, owner of the Wivenhoe Bookshop in the town’s High Street, said: “We don’t usually sell a lot of this type of book, but we do stock it and it has been well received.
“At one time you couldn’t get it anywhere and we still had a few copies here, so we got some new people in. It is good, as it has brought people in to the bookshop who would not normally come in.
“It seems extraordinary to me how this has happened. This book has apparently come out of nowhere.”
Even in the genteel resort of Frinton, the boddice ripper is a best seller. Judith Charlesworth, of Caxton Books in Connaught Avenue, said: “It’s selling terribly well. We can’t get enough of them.
“We get a pile in and they’ve gone by the end of the day.
“It’s unusual for a book to sell so many copies in a shop this size. Normally you might sell a couple a week but this is just phenomenal. It’s probably the best-selling book we’ve ever had.”
It is not only smaller retailers who have benefited from the Fifty Shades craze. The Colchester branch of Waterstones sold its 1,000th copy on Monday beating previous records.
Lead book seller Vince Goddard said: “It is phenomenal and it has broken all the records – it is the most popular book bar none at the moment and shows no sign of letting up.
“Fifty Shades of Grey is out-doing all the Dan Brown craze. It seems every other customer is asking for one of the series.
“It is nice so many people are actually reading books. I have talked to a lot of people who have read it and it is quite surprising it is so mainstream given the subject matter.”
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Source: www.essexcountystandard.co.uk
'This is the end for Newhaven' – controversial incinerator fires up - The Guardian
You see it as soon as you come over the headland. The 65-metre chimneys rise above the vast silver roofs. The trees around the incinerator will grow eventually, but for now it sits in a scrubby valley of chalk soil, exposed, and still shinily new.
Controversy has dogged the waste incinerator at Newhaven in East Sussex from the start. The small port town itself has a population of just 12,000, but more than 16,000 objections to the plans to locate an incinerator near the town centre were received from the area.
The county council went against popular sentiment and granted permission. Subsequent attempts for a judicial review were rejected, and the decision was chased all the way up to the then secretary of state Ruth Kelly. She ruled in favour. On Wednesday, after more than 10 years of fighting, the incinerator was officially opened.
The new site will be operated by Veolia, which currently owns seven operational incinerators, which they call "energy recovery facilities", with a further site under construction in Staffordshire. The government says incinerator facilities are expanding rapidly across the country, with 23 operating in England and a further 70 sites at various stages of planning and development.
On both sides in Newhaven, however, it seems the long battle over the plant has been neither forgiven nor forgotten. Outside a small group of protesters held up signs reading "What human rights?". One local woman, dropping off a friend, said that she wouldn't be staying. "It's too late, isn't it? I can't bear to look at it." Pauline Miles, 75, has lived in Newhaven for 46 years and said: "This is the end for Newhaven. Our town has been going down and down and we're the dregs now. The health risks frighten me. Why is it in a town? Why not up country somewhere? All those trucks!"
Inside, speaking at the launch ceremony, Peter Jones, leader of East Sussex council, referred angrily to the "voodoo science" peddled by campaigners, and talked of "the triumph of fact-based evidence over wilful ignorance" that has led to the facility opening. "It is a great shame that due to the misleading information, the liberal population of Newhaven just won't engage with this incinerator as they might."
Incinerators take residual waste – whatever is left over after recycling and compost collections – and turn it into fuel, using the rubbish in place of coal or gas to drive turbines and produce electricity.
At Newhaven the rubbish is trucked in from six different local authorities and tipped down chutes into the vast dump. From the control room, you can peer about 40 metres down into the extraordinary landscape of rubbish; it's possible to pick out wheel hubs, crisp packets and apple juice cartons, but much of it is shredded or just rotted and unrecognisable.
From here the 15 people who run the entire site use joysticks to control enormous grabbers that mix the rubbish and pick up huge bundles to dump into the furnaces. These run at 1000C, heating water and powering turbines to generate, at capacity, 19MW. By comparison, a large onshore wind turbine can have a capacity of 5MW, while the UK's largest power station, coal-fired Drax, has a generating capacity of 3,960MW.
Campaigners claim numerous problems with incinerators as a solution to the UK's waste problems. Shlomo Dowen, of UK Without Incineration Network believes that incinerators are disastrous in terms of climate, cost and efficiency. "There are far more exciting and useful waste disposal technologies coming through now, and incineration is stifling their development."
He also points out that an incinerator requires a certain amount of waste to keep the furnaces going, so the local community is locked into providing that for 20 years, rather than reducing or recycling.
Richard Kirkman, head of technology at Veolia, sees incineration as currently the most environmentally friendly option. Conceding that waste is a less efficient fuel than coal, he counters that the energy produced is far less carbon intensive, at just 275g of CO2 per KWh. That compares with about 910g from coal, and 390g from gas according to figures from the International Energy Agency. "Things will evolve, definitely. This may not be the best solution in 20 years. But for now, for the next 20 years, this is the right thing to do."
On the growing number of incinerators, a spokesman for the Department for Environment, Food and Rural Affairs, said: "It is one among several waste technologies, a combination of which is needed for sustainable waste management. The government is focused on energy outcomes in terms of maximising outputs and not specific technology." The government has a "waste hierarchy", he said, which places incineration above landfill but below re-use and recycling.
The people of Newhaven remain unconvinced. Norman Baker, the Liberal Democrat local MP, boycotted the opening ceremony. "This gigantic intrusion into the landscape was forced on the town against the wishes of virtually all its residents by the Tory county council," he said. "It has damaged the landscape and sent out a message that Newhaven is simply a convenient dumping ground for the rest of the county. There is nothing to celebrate."
Source: www.guardian.co.uk
Anyone know where her top is from in the first pictures...? :)
- Lauren, London, 05/7/2012 15:39
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