Mothercare axes 200 head office roles to hit savings target October 31, 2018 Mothercare has axed 200 head office roles as the struggling business aims to meet a £19m cost-savings target. Net job losses will total 150, with 50 new roles being created as part of the restructuring process. Staff were informed of the cost-cutting proposals, which were first reported by Sky News, this morning. The Watford-based parent and [...]
The death of the sandwich: Britain’s favourite lunchtime meals October 31, 2018 Growing demand for a more luxurious lunch among London workers is causing headaches for the sandwich market. Salad has been elevated to Britain's favourite lunchtime food, it has been claimed. The humble sandwich has been an internationally renowned staple of British cuisine for centuries – but times are a-changing. A survey of 1,133 workers by Spitalfields Market revealed [...]
Facebook’s Mark Zuckerberg invited again to appear before MPs investigating fake news October 31, 2018 Facebook chief Mark Zuckerberg has been summoned to a special meeting of UK and Canadian MPs to give evidence about ‘fake news’. Conservative MP Damian Collins, chair of parliament’s digital, culture, media and sport committee, has joined forces with his Canadian equivalent, Bob Zimmer, to propose a one-off hearing on 27 November. The social media billionaire [...]
Eurozone inflation rate lifts to highest level in nearly six years October 31, 2018 Eurozone inflation has risen to its fastest rate in nearly six years led by rising energy prices. The EU's statistics office, Eurostat, said the bloc's inflation rate was expected to be 2.2 per cent in October – above the European Central Bank's (ECB) target of just under two per cent. The euro fell to its [...]
William Hill makes £242m offer for Swedish gaming company in Brexit hub move October 31, 2018 Bookmaker William Hill has today announced a recommended cash offer of £242m for Swedish gaming company Mr Green & Co as it prepares for Brexit. William Hill’s shares jumped nearly six per cent following the announcement while shares in Mr Green soared nearly 48 per cent to 68.5 Swedish krona, just short the offer price [...]
Jaguar Land Rover begins £2.5bn turnaround plan after second consecutive quarter of losses October 31, 2018 Bosses at Jaguar Land Rover embarked on a £2.5bn turnaround plan this afternoon, in an attempt to stem a rising tide of losses and lower sales at Britain’s largest car maker. Fears of job cuts swelled today in the wake of the firm’s strategy to slash costs by £1bn over the next 18 months. The [...]
Central London house prices set for sharp upturn on Brexit deal October 31, 2018 Central London’s waning high-end property market could be set for a resurgence over the next five years, with a new report forecasting that prime house prices could rocket by more than 15 per cent if an expected bounce in confidence returns to the capital. Despite stamp duty changes and political volatility causing a slowdown in [...]
This Halloween, businesses must tackle their demons and embrace the AI boogeyman October 31, 2018 Business leaders are an easily spooked bunch. Economic turbulence, new competitors, and workplace skill deficits are just a few of the things that can give us a fright at any time of year, without the added frisson of All Hallows’ Eve. But a new fear has emerged this year: customer data – namely how it’s [...]
Chancellor Philip Hammond’s Autumn Budget contained tricks and treats for your personal finances October 31, 2018 The move of this year’s Autumn Budget to Monday this week rather than its traditional Wednesday slot was ostensibly to give MPs more time to debate the chancellor’s proposals before the House of Commons rises for recess on 6 November. But presumably Philip Hammond also hoped to avoid some Halloween-themed headlines, which he himself alluded to [...]
Next shares drop as online shopping boost masks high street malaise October 31, 2018 Clothing and home products retailer Next managed to balance out falling high street sales with its growing online business, its third quarter trading update showed today. Store sales for the quarter were down eight per cent year on year and 6.3 per cent in the year to date compared with 2017. But online sales shot [...]