Sears shares rocket 29 per cent as boss outlines plans for a “strategic transformation” February 10, 2017 Shares in US department store Sears rocketed as markets opened today, after plans to reduce debts sent investors on a shopping spree. The retail giant said its new strategy could remove $1.5bn from its debt and pensions obligations, which have weighed on the company’s stock market performance. “We are initiating a fundamental restructuring of our [...]
360kg of cocaine worth £50m has washed up on two beaches in Norfolk February 10, 2017 Around 360kg of cocaine has washed up on two beaches in Norfolf, the National Crime Agency said today. The drugs have a potential value of £50m. A member of the public contacted Norfolk Police yesterday afternoon having discovered a number of holdalls on Hopton Beach near Great Yarmouth. Police and Border Force officers initially attended the [...]
Focus On Victoria: A £4bn investment in housing, retail and infrastructure is making it a destination in its own right February 10, 2017 If the Queen’s getting a £369m refurbishment of Buckingham Palace, it seems only fair that the neighbourhood surrounding it should get a polish, too. £4bn should just about cover it, and that’s how much has been invested in the area by developer Land Securities over the last five years. Around £700bn of that has gone [...]
Instagram-obsessed millennials are wasting food February 10, 2017 Millennials are prioritising making food visually appealing and are wasting ingredients as a result, according to a Sainsbury’s report. Kids these days, eh? The study found older generations are more likely to plan meals in advance and make full use of the food available, while millennials are creating more interesting meals. Sainsbury’s surveyed 5,050 consumers on [...]
Greene King reveals sober sales despite gains over the Christmas period February 10, 2017 Sales at British pub operator Greene King grew over the 40 weeks to 5 February due to a strong Christmas period, but it was hit by a "dramatic" slowdown of sales in the quieter months. The figures In a trading statement today, Greene King said like-for-like sales grew 1.1 per cent over the period. For the [...]
London’s financial services can thrive says EU commissioner – but only if we work together February 10, 2017 London’s financial services can continue to thrive after Brexit but only if it works with the EU on regulation, according to a top EU diplomat. In a speech in the capital Valdis Dombrovskis, the EU’s commissioner for financial services, called for a more harmonised international regulatory system, in which the UK can play a central [...]
What the experts think the Pimlico Plumbers ruling means for the gig economy February 10, 2017 The Court of Appeals ruled against Pimlico Plumbers in a case concerning employment status today. The court ruled that Gary Smith, previously a plumber with the company, was a "worker", and as such should have been afforded basic workers' rights, such as sick pay. This is how legal experts reacted to the court's decision: Continuing the trend [...]
Pay-to-use motorway fails to secure bidders February 10, 2017 A £1.9bn deal to sell M6 Toll road has fallen through, prompting lenders to consider refinancing Britain’s only pay-to-use motorway. Plans to sell the motorway were announced in February last year and were already delayed as a result of the summer’s EU referendum vote. The sale is now not expected to take place, according to [...]
Don’t be boring this Valentine’s day: Here are six things to do instead of going out for dinner February 10, 2017 There are heart stickers plastered on every shop window, and you can’t seem get away from all the his’n’hers gift guides. It can only mean one thing – Valentine's day is on its way. By now the most romantic (and poshest) restaurants are booked up – but dinner is boring anyway, right? For a creative way [...]
ScottishPower is hiking energy prices while British Gas says it will extend its price freeze February 10, 2017 Another Big Six energy provider is raising its prices – this time its ScottishPower. The utility firm said more than a million customers will be affected by the rises. Dual fuel prices will increase by an average of 7.8 per cent, electricity prices will jump 10.8 per cent and gas prices will raise 4.7 per cent. ScottishPower blamed [...]