Tesco, the UK’s leading supermarket operator and world’s third largest retailer, reported their highest ever profit overnight but has been criticised by an analyst for a “short-term approach” to counter the economic crisis in the UK. Mostly lauded for a 10% lift in underlying profit given the tough economic conditions, there were some critics willing to suggest the company may have erred in attempting to take on the discount grocers, whose share – while growing –... ...Read more »

Many Australian small businesses are headed for a cash crisis in the wake of the global credit crunch, a CPA Australia survey* has shown. The survey has prompted CPA Australia to produce a guide to help business through tough times. The latest CPA Australia Small business survey showed that cash flow problems and pressure on profit margins were being experienced by many small businesses. Increasing the likelihood of these becoming worse is a finding that many smaller enterprises may not be undertaking... ...Read more »