Lord Stuart Rose says Sir Philip Green should not be stripped of knighthood March 9, 2017 Lord Stuart Rose, former boss of Marks & Spencer, has defended his frenemy Sir Philip Green, saying the ex-BHS boss should not be stripped of his knighthood. Rose and Green famously shouted at each other on the street in 2004 when Green's attempt to snap-up Marks & Spencer failed. But, at a retail conference today, Rose [...]
Estate agent Countrywide’s share price tumbles as profits fall by more than half March 9, 2017 Shares in the UK's largest estate agent have tumbled after it admitted pre-tax profit plummeted by close to 60 per cent last year. Read more: Estate agents Savills warns current UK house price growth is unsustainable The figures Countrywide, the company behind high street estate agency brands including Bairstow Eves and Hamptons International, said today its [...]
Spring has sprung: Londoners to bask in 16-degree heat today March 9, 2017 The official beginning of spring is just under two weeks away, but the weather has been gracing us with a preview of what's to come. Following a turbulent February, those in London and the South East will welcome a dry and bright day with plenty of sunny spells today – with maximum temperature hitting 16 [...]
Tesco returns nearly £10m to 140,000 employees after payroll error March 9, 2017 The UK's biggest supermarket will return nearly £10m to 140,000 current and former staff after discovering a payroll error that meant they did not receive the national minimum wage. Tesco said the payments will be up to £40 for each of the employees affected, and that they will be handing out the payments by the end [...]
West Texas Intermediate oil prices are below $50 a barrel March 9, 2017 After sharp losses yesterday, oil prices have continued their biggest downward slump of the year as US benchmark West Texas Intermediate (WTI) dropped below $50 a barrel. WTI is trading more than 2.5 per cent lower today at $48.79 a barrel while global benchmark Brent crude fell to a low of $51.60 a barrel. Yesterday, oil prices posted their sharpest [...]
The Queen will today unveil a war memorial dedicated to all those involved in the Iraq and Afghanistan conflicts March 9, 2017 The Queen is to unveil a new war memorial dedicated to all those involved in the conflicts in Iraq and Afghanistan. A sculpture by British artist Paul Day has been created to commemorate all military and non-military personnel who took part in the wars. The artwork is composed of two large stone monoliths supporting a [...]
London mayor Sadiq Khan launches London’s first low emission bus zone in Putney High Street with 11 more to come March 9, 2017 Sadiq Khan has launched the capital's first low emission bus zone in one of the most polluted areas of London: Putney High Street. The clean bus zone runs 145 buses on seven scheduled routes and will now be serviced by cleaner buses in a drive to slash nitrogen oxide emissions. Putney High Street exceeded hourly [...]
Hammond will need legendary persistence to find the productivity Holy Grail March 9, 2017 Legend has it that the Holy Grail was the cup used during the Last Supper and by Joseph of Arimathea to collect Christ’s blood at the Crucifixion. Finding the Grail was the mission of the knights of King Arthur. They are still looking. King Arthur and the Grail rarely feature in the cast of Budget [...]
John Lewis increases profits as it battles tough market conditions March 9, 2017 The John Lewis Partnership announced a profit rise today – but warned of a tough year ahead due to rising costs and structural changes in the retail industry. The figures For the year ending 28 January, the Partnership's profit before the bonus, tax and exceptional items, was up 21.2 per cent to £370.4m. This was [...]
Co-op Bank stems losses to £477m but says legacy problems and lower for longer interest rates led to sale March 9, 2017 Co-operative Bank today said legacy issues and low interest rates had dragged on performance and prompted the lender's owners to put the bank up for sale. Although the bank reduced annual losses of £477m from £611m in 2015, it took a further £60m hit from its merger with Britannia Building Society and was slapped with an £82m charge following [...]