he chief executive of Sainsbury’s said he was “more confident than ever” in the supermarket’s £1.4bn takeover of Argos despite falling profits and rising concerns that the deal has made the grocer more vulnerable to a lower sterling.
Category: News Wire
Daily feed of the best news affecting your small and medium sized business SME / SMB from media and websites in Britain and across the world
RBS to compensate squeezed firms
Royal Bank of Scotland is to compensate up to 12,000 small business customers that it allegedly mistreated in the wake of the financial crisis.
FTSE 100 sink and EU stock market slide on Trump victory
FTSE 100 sees £37bn plunge as Trump win sparks market turmoil
Retail sales up in best month since January
UK retail sales were up 1.7 per cent from last October, boosted by strong online sales of 11 per recent in the last three months.
Aberdeen demoted in list of ‘Best UK cities’ thanks to oil industry downturn
The granite city has dropped from 5th to 10th in the 2016 Good Growth for Cities index.
RBS to set up compensation scheme for businesses affected by turnaround unit
Royal Bank of Scotland is to set aside £400m to compensate some of the small business owners who allegedly suffered at the hands of its controversial restructuring unit, despite being largely cleared of wrongdoing by the financial industry watchdog.
M&S to cut 60 clothing and home stores
Marks and Spencer has announced that over the next five years it will have 60 fewer clothing and home stores, of which 30 will close down.
HSBC profit falls 86% on Brazil disposal
HSBC’s third-quarter profits have fallen sharply after it booked a loss from the sale of its Brazilian unit.
Tesco blocks customer cards after ‘suspicious activity’ affecting accounts
Tesco Bank has been forced to block some customers’ cards after thousands appeared to have been targetted by hackers.
Smart energy technology ‘stymied by current policy’
Policy Exchange says policies boost growth in dirty diesel, arguing a smarter power grid could cut costs and curb emissions
Manufacturers growing wary of investment in wake of Brexit vote
Manufacturers are reining in their investment plans because of Brexit and are unwilling to take on loans to fund new equipment, instead preferring to build up their cash reserves.
BHS pension deal ‘could be struck by Christmas’
Sir Philip Green and pension regulators could reach a deal over the BHS scheme within weeks, the BBC understands.
FCA to investigate £100 per month bank overdraft fees
Charges can be £100 per month – more than many credit cards and pay-day loans
Uber facing hundreds more claims from drivers for back pay
Lawyers for two former drivers last week won tribunal ruling that they were entitled to minimum wage and sick pay
Bank of England stages post-Brexit U-turn as it hikes growth forecast for 2017
The Bank of England has almost doubled its economic growth forecast for 2017 and scrapped its planned interest rate cut, in a dramatic U-turn on its earlier warnings that the economy would suffer a severe post-referendum crunch.
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