Tesco announces it is cutting 800 UK jobs January 22, 2018 Tesco is cutting 800 jobs within the business in a bid to simplify its operations. The UK’s biggest supermarket is removing all people managers and compliance managers from its large stores and fulfilment centres, and is removing its customer experience managers. Read more: Tesco “outperforms market” with Christmas sales rise As a result of the [...]
Cartier owner Richemont makes an offer for Yoox Net-a-Porter January 22, 2018 Richemont has made an offer to take control of luxury online retailer Yoox Net-a-Porter. The Swiss luxury group owns a 49 per cent stake in Yoox Net-a-Porter and intends to increase its holding to 90 per cent, offering €38 a share, a 26 per cent premium on the Milan-listed stock’s closing price on Friday. Richemont, [...]
Ineos revs up for launch of Land Rover Defender successor with hire of former Bentley marketing director Mark Tennant January 22, 2018 Chemicals giant Ineos today announced it has hired the former marketing director of Bentley Motors to lead the marketing of its new 4×4, billed as the “spiritual successor” to the Land Rover Defender. Mark Tennant joins the firm as commercial director and will be tasked with leading Ineos Automotive’s sales, marketing and distribution options. Tennant [...]
UK house prices: Demand for UK property fell more than seven per cent last year January 22, 2018 The UK’s housing market continues to look shaky, after new figures showed the number of new buyers registering with estate agents dropped last year – as the number of properties on the market plunged. Figures from estate agent Haart showed demand for homes fell 7.4 per cent in the year to December, falling 3.4 per [...]
Facebook’s promising to help Europe learn digital skills and invest more in Paris artificial intelligence research centre January 22, 2018 Facebook is the latest US tech giant to jump on the digital skills bandwagon, promising to train one million people across Europe by 2020. And it’s also putting more cash behind its artificial intelligence efforts, investing €10m more in its Paris-based AI research lab. Read more: Facebook to expand probe into possible Russian influence on [...]
Brexit transition deal needed “urgently” to avoid cliff edge warns European banks group January 22, 2018 Politicians on both sides of the Channel must “urgently” agree a Brexit transition deal to avoid a legal and regulatory cliff edge which would cause chaos for firms and threaten financial stability, according to a lobby group for Europe’s biggest banks. The Association for Financial Markets in Europe (Afme), which counts JP Morgan, Lloyds, and [...]
Crossrail’s coming: Iconic London roundels unveiled on Elizabeth Line stations including Farringdon and Tottenham Court Road January 22, 2018 After providing an updated Tube map featuring the Elizabeth Line last month, Transport for London (TfL) has now revealed the first batch of its iconic roundels are in place for the new railway. Now 110 years since the installation of the first roundel sign at St James’s Park Underground station, the latest iteration has begun [...]
The European Union stands to benefit from a City Brexit deal January 22, 2018 French President Emmanuel Macron made quite an impression during his brief visit to the UK last week. Not since the visit of President Obama in 2011 has the British media been quite so excited about catching a word from a visiting politician. Angela Merkel may be a step closer to forming a government (Berlin watchers [...]
A quarter of London businesses are unprepared for new data laws, says industry poll January 22, 2018 One in four London businesses are not aware of new data regulations that are due to come into law in a few months, according to a new survey. The London Chamber of Commerce and Industry (LCCI) poll of more than 500 businesses found that of those that believe the new General Data Protection Regulation (GDPR) [...]
Modular housing the way forward to boost waning new build numbers, experts warn government January 22, 2018 A “radical new approach” to housing policy and a renewed focus on modular construction will be needed if the government is to hit its 300,000 new homes a year target, experts warned today. The Housing & Finance Institute (HFI) has urged the government to focus on modern construction methods to drive up the number of [...]