Mosaic Fashion which was put into administration, is being partly bought back by Icelandic bank Kaupthing. The deal would save around 8,700 jobs, although remaining 4,200 jobs would still be at risk. Read the rest of this entry »
One third of staff at Five, the terrestrial television channel, is going to lose jobs this week.
It is reported that around 100 jobs out of 350 would be made redundant as part of business restructuring to be announced on Thursday. ITV is also considering cutting 500 jobs when it will make announcement of annual results. Read the rest of this entry »
The energy giant British Gas reported 34% drop in its profits from previous year due to phenomenal rise in cost of wholesale gas. It had made profit of £571 million in 2007 which was much above 2006 levels, when it made £96 million. Read the rest of this entry »
Asda and Tesco have strongly attacked Competition Commission’s crackdown plans on supermarket’s relationships with vendors, saying it will escalate prices as grocers will be experiencing further deluge of red tape. Read the rest of this entry »
The value fashion giant Primark defies recession by declaring that its half-yearly sales would go up by 5%, but revealed that performance of grocery division of its Associated British Food (ABF) will be disappointing. Read the rest of this entry »
Centrica announced that it will create 1,500 ‘green’ and engineering jobs at British Gas in 2009 under its £15 billion investment plan.
‘Green collar’ jobs will include energy efficiency advisers, windform jobs and 1,000 service engineer staff. Read the rest of this entry »
Survey data released by the CBI business group on February distributive trades showed balance of 49% of retailers had slashed their workforce, the highest cut since 1983. While record 45% stated that they planned staff reduction for March. Read the rest of this entry »