Supermarket chain Morrisons today named the successor to chairman Ken Morrison, who is to step down after more than 50 years with the company.

British supermarket chain Morrisons ditched its advertising slogan of more than 30 years today as it unveiled plans for a £450m (€659.1m) makeover.

London’s top ranking shares were led by supermarket group Morrisons today after chairman Sir Ken Morrison delivered a major boost to the chain’s recovery hopes.

Supermarket group Morrisons boosted recovery hopes today after revealing like-for-like sales jumped 6.1% in the past nine weeks.

Renewed merger and acquisition speculation proved insufficient to keep the FTSE 100 Index in positive territory today.

More than £35bn (€36.4bn) was wiped from the value of London’s top shares after a series of interest rate rises worldwide put the skids under markets.

Investors ran for cover today as world markets reacted badly to a surprise hike in interest rates in South Korea.

Shares on both sides of the Atlantic were in positive territory today as bargain hunters moved in after yesterday’s falls.

The FTSE 100 Index drifted lower today after heavy losses in New York and Japan overshadowed gains by Morrisons and Cadbury Schweppes.

Share prices in London made welcome headway today as a sunnier outlook emerged on both sides of the Atlantic.

Developments in two long-running takeover sagas caught the eye of investors during a solid session for the beleaguered London market today.

Veteran supermarket boss Ken Morrison today outlined plans to stand down as chairman of the Morrisons chain in January 2008.

Directors at Morrisons are threatening to quit over chairman Ken Morrison’s continued failure to appoint a new chief executive, it was reported today.

British supermarket chain Morrisons today unveiled its three-year plan to revive the business, after profits fell 81% in the wake of its £3bn (€4.3bn) takeover of Safeway.

British supermarket chain Morrisons said today that it had been encouraged by recent trading after like-for-like sales showed a 5% improvement.

Former Asda boss Archie Norman today moved to quash speculation he could take over at the helm of troubled supermarket group Morrisons.

Troubled British supermarket group Morrisons appeared to have won important breathing space today as the City gave its backing to a major boardroom overhaul.

British supermarket group Morrisons laid bare the full scale of its trading woes today when it disclosed annual profits could be as low as £50m (€74m).

Ken Morrison pledged to stay at supermarket group Morrisons for at least another year today in order to see through the troubled integration of Safeway.

Ken Morrison will come under pressure over his running of UK supermarket group Morrisons today when he faces investors after a series of profits warnings.

SUPERMARKET boss Ken Morrison is set to come under intense investor pressure this week amid claims he is delaying the modernisation of the group’s board.

Supermarket boss Ken Morrison is set to come under intense investor pressure this week amid claims today he is delaying the modernisation of the group’s board.

Tesco boss Sir Terry Leahy was today named the UK’s most powerful retailer after topping a poll ahead of Top Shop-to-Bhs tycoon Philip Green.

London shares failed to make headway today as lower oil prices and the aftershock of a US interest rate rise dampened spirits.

Significant falls by oil stocks and fears of further interest rate rises conspired to drag the FTSE 100 Index below the key 4900 barrier today.

British supermarket boss Ken Morrison bowed to shareholder pressure today with a major boardroom shake-up at the chain he has run for almost 50 years.

British supermarket chain Morrisons was today under pressure to consider a boardroom shake-up after a second profits warning in less than a year shook investors.

London shares ended the week on a low note after worse-than-expected US economic news left traders downbeat on Wall Street.

Supermarket group Morrisons today cheered the London financial sector with news that converted Safeway stores were reaping the benefits of their change to the Morrisons format.

British supermarket group Morrisons today revealed that Safeway’s performance had continued to decline, with like-for-like sales 7.9% lower in the first half.

London shares struggled to make significant progress today after a profits warning from Morrison’s and last night’s losses on Wall Street.

Irish football hero and Leeds United legend Jack Charlton wished his troubled old club well today as he picked up another honorary degree.

UK supermarket chain Morrisons has reported record sales over Christmas. The company said like-for-like sales jumped 10.2% in the six weeks to January 4.

Supermarket group Morrisons was holding talks with takeover target Safeway today as it put the finishing touches to a new £3bn (€4.2bn) bid for the chain.

BILLIONAIRE Bhs boss Philip Green was yesterday reported to have ruled himself out of the bidding for supermarket group Safeway.

SUPERMARKET chain Asda has dismissed reports that its attempt to bid for takeover target Safeway could be in jeopardy.

Supermarket chain Asda today dismissed reports that its attempt to bid for takeover target Safeway could be in jeopardy.

A competition watchdog today handed the findings of an investigation into all five potential bidders of UK supermarket chain Safeway to the British government for approval.

Britain’s super-rich appear to be weathering the economic storm after a report today showed the combined wealth of the wealthiest 300 people in Britain rose by 5% last year.

British supermarket group Morrison’s, which sparked a bidding war for rival Safeway, today “strongly urged” shareholders in both companies to back its £2.4bn (€3.6bn) offer.

Supermarket target Safeway’s six-way takeover tussle took another twist today when it dropped its recommendation of an original offer from Morrisons.

New figures show that top chief executives saw their pay packets grow by an inflation-busting 17% last year.