Asda chief quits after 12 years

The chief executive of Asda has quit the supermarket chain after 12 years of service with the company.

The chief executive of Asda has quit the supermarket chain after 12 years of service with the company.

Tony DeNunzio, who lives in North Yorkshire, is leaving in the next few weeks to "pursue other business interests".

He was with Asda during the supermarket's years of market share expansion, leading to its takeover by US giant Wal-Mart.

Demand for crude oil grows

DEMAND for crude oil will grow even faster than expected as China's appetite for energy stays undiminished, a new report claims.

The International Energy Agency said demand would rise 1.8 million barrels a day to 84.3 million.

Key causes include freezing weather and strong growth in the US and China.

Whitbread to sell upmarket hotels

LEISURE group Whitbread has confirmed it is in talks to sell some or all of its Marriott hotels in the UK.

Whitbread, which also owns the Travel Inn, Beefeater restaurants and Costa Coffee brands, owns 52 of the upmarket Marriott hotels including sites in Newcastle and Durham.

Full story: Page 79

Estate agency jobs rescued

RECEIVERS of collapsed upmarket estate agency Chesterton have sold part of the business for an undisclosed sum, including its Newcastle office which has 20 staff.

Full story: Page 78

Music group sought after

THE world's largest concert promoter is among investors plotting a takeover of the Mean Fiddler music group.

Clear Channel Entertainment has forged an alliance with Irish firm MCD Productions to acquire the 35pc stake held in Mean Fiddler by its founder, Vince Power.

Mean Fiddler owns a string of UK music venues such as London's Astoria, the Reading rock festival and 34pc of the Glastonbury music festival.

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