Tag: Fortis

Tesco takes next step in banking as it selects Fiserv

Tesco takes next step in banking as it selects Fiserv

Supermarket giant Tesco has taken the next step in its quest to become a bank by signing up Fiserv. US-based Fiserv provides information management and electronic commerce systems to the financial services industry. Tesco said Fiserv will assist it in becoming a full-service bank by providing account information and banking transactions for Tesco Bank customers. […]

November 20, 2009 More
Tesco opens UK’s first self-service store

Tesco opens UK’s first self-service store

In a bid to speed up trips to the shops, supermarket giant Tesco has opened the first self-service store in Northampton. The Tesco Express store has five self-service tills but no manned checkouts. There is, however, one member of staff available to authorise transactions for age-restricted items such as alcohol and knives. The news will […]

October 22, 2009 More
Tesco posts strong results amid downturn

Tesco posts strong results amid downturn

Supermarket giant Tesco has today announced a 1.5% rise in pre-tax profits for the half year to the end of August and has bucked the trend by creating 6,500 jobs in the period. Tesco, which has a 30% share of the grocery market, said pre-tax profits were £1.42 billion - up 1.5% compared with the […]

October 6, 2009 More
Tesco and Fortis team up to form Insurance Partnership

Tesco and Fortis team up to form Insurance Partnership

Supermarket giant Tesco is continuing its expansion into financial services by agreeing a partnership with Fortis, which will form a new motor and household insurance company. Tesco, which has a 30% share of the grocery market, already offers credit cards, savings accounts and insurance via its Tesco Personal Finance (TPF) brand and announced plans late […]

September 11, 2009 More
Belgian bank Dexia is latest to be rescued by Government

Belgian bank Dexia is latest to be rescued by Government

Yesterday saw Belgian-Dutch financial group, Fortis, rescued after the Governments of Belgium, Luxembourg and the Netherlands invested a total €11.2 billion (£8.9 billion) in the respective Fortis bank institutions in each country. Each Government will take a 49% stake in Fortis. It has emerged today that Fortis’ rival, Dexia, has become the latest European bank […]

September 30, 2008 More
Fortis bailed out by three Governments

Fortis bailed out by three Governments

Belgian-Dutch financial group Fortis has been partially nationalised after concerns were raised about its future health over the weekend. The group, which is Britain’s third-largest private car insurer, based on volume, and the fourth-largest travel insurer, saw its shares plummet by 35% last week over fears about its future. However, it has emerged this morning […]

September 29, 2008 More
Fortis in rescue talks

Fortis in rescue talks

Belgian-Dutch financial group Fortis has been in rescue talks over the weekend after concerns have been raised about its future. The Belgian government, regulators, and the Dutch central bank are all involved in the talks with a deal to be announced by tomorrow morning. Fortis, which is Britain’s third-largest private car insurer, based on volume, […]

September 28, 2008 More
Fortis plans to raise £1.2bn

Fortis plans to raise £1.2bn

Fortis, the Belgian-Dutch bank, has announced fundraising plans of €1.5 billion (£1.2 billion). It said current circumstances necessitate these measures. Following the announcement, its shares dropped by 6.9% in Brussels trading this morning. The bank, like many others, needs extra capital to ride out the credit squeeze. It also requires the cash to fund its […]

June 26, 2008 More