News from Business

UK unemployment falls to 44-year low despite Brexit fears

UK unemployment falls to 44-year low despite Brexit fears

UK unemployment has dropped to the lowest level in more than 44 years despite mounting fears over Brexit, as employers across the country ramped up hiring at the fastest rate in more than three years. The Office for National Statistics said Britain’s...

Guardian, Tuesday, 15:08
 
HS2 would widen UK 'north-south' divide and should be axed, says report

HS2 would widen UK 'north-south' divide and should be axed, says report

The government’s planned HS2 high-speed rail project will make the UK even more divided and should be scrapped in favour of boosting services in the less well-off parts of the country, a left-leaning thinktank has said. A report from the New Economics...

Guardian, Tuesday, 14:25
 
Office Outlet is latest retailer to go into administration

Office Outlet is latest retailer to go into administration

The stationery chain Office Outlet has collapsed into administration, putting 1,200 UK jobs at risk. The struggling retailer, formerly known as Staples, has 90 stores, predominantly in out-of-town retail parks. Its collapse comes less than a year...

Guardian, Tuesday, 13:04
 

Former Staples chain Office Outlet in administration

The former Staples stationery chain, Office Outlet, is in administration, putting 1,200 jobs at risk. The retailer is not connected to the online-only business which trades under the Staples name. Two partners at business services firm Deloitte were...

BBC, Tuesday, 11:57
 
India 'asks banks to rescue Jet Airways'

India 'asks banks to rescue Jet Airways'

The Indian government has asked state-run banks to step in and save struggling carrier Jet Airlines, according to Reuters. India has urged the banks to swap debt for equity, and take stakes in Jet, the news agency said. With more than $1bn (£750m) in...

BBC, Tuesday, 11:57
 
Sainsbury's and Asda vow £1bn merger price cuts

Sainsbury's and Asda vow £1bn merger price cuts

Sainsbury's and Asda say their planned merger will bring £1bn in price cuts for savers and save £1.6bn in their own business costs. The two supermarket giants are battling to convince the Competition and Markets Authority (CMA) to allow them to join...

BBC, Tuesday, 10:36
 

Wood chairman to step down as revenues soar

Aberdeen-based energy services group Wood has reported soaring revenues and narrowed losses in 2018, also announcing that chairman Ian Marchant is to stand down. Revenues including joint ventures came in $11 billion (£8.2bn), marking a 79 per cent...

Scotsman, Tuesday, 10:23
 
Boeing expects 737 Max software fix by end of March

Boeing expects 737 Max software fix by end of March

Boeing has told airlines it expects to have new software for its troubled 737 Max ready by the end of the month. The plane has been grounded following the Ethiopian Airlines aircraft crash earlier this month, which caused the loss of 157 lives. The...

BBC, Tuesday, 09:55
 

Standard Life Aberdeen wins tribunal ruling £100 billion Lloyds contract

Standard Life Aberdeen has said a tribunal has ruled that Lloyds Banking Group did not have the right to end a mammoth £100 billion contract with the asset manager. It said the tribunal found in its favour that Lloyds was not entitled to give notice...

Scotsman, Tuesday, 09:30
 
Ocado revenue hit by warehouse fire

Ocado revenue hit by warehouse fire

Ocado's revenue grew by 11.2% in the 13 weeks to 13 March compared with the same period last year, although the online food retailer's income was hit by a fire in its warehouse in February. It brought in £404m during the period, but the fire in its...

BBC, Tuesday, 07:45
 
Bonmarché predicts deeper losses

Bonmarché predicts deeper losses

Clothing chain Bonmarché is warning losses could reach £5-6m this year, far worse than the £4m loss previously predicted. The warning, in a trading update to investors, is the third in six months from the Yorkshire-based firm. Bonmarché, which has 312...

BBC, Tuesday, 07:34
 
'It could be terrible for us': how one British high street is preparing for Brexit

'It could be terrible for us': how one British high street is preparing for Brexit

In a tiny, windowless back office, Dan Ebdon is hunched over a computer screen. “I’m trying to find a Victorian-style ash pan,” he says. “But I’m struggling.” His knees are pressed against rolls of black bin liners, the shelves at his elbow hold drums...

Guardian, Tuesday, 07:18
 
My Revolution Beauty makeup hasn’t arrived after three weeks

My Revolution Beauty makeup hasn’t arrived after three weeks

I recently ordered makeup from Revolution Beauty’s website, having previously bought from Superdrug. They are huge in the beauty industry and supply unusual products. I am training to be a part-time makeup artist and needed the products for a graded...

Guardian, Tuesday, 07:18
 

Scottish start-ups lent more than £26m via Business Bank

The British Business Bank (BBB) has identified Scotland as an entrepreneurial hub after total lending to Scottish microbusinesses through its start-up scheme topped £26 million. Data published today by the BBB shows that its Start Up Loans programme...

Scotsman, Tuesday, 06:04
 

Capital’s Bruce Group eyes Central Belt pubs on back of £20m bond bid

A Scottish independent pub group is targeting acquisitions across the Central Belt on the back on a £20 million bond offer. Edinburgh-based Bruce Group Scotland, which owns 19 pubs and live music venues in the capital and in Fife including the Royal...

Scotsman, Tuesday, 05:16
 


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