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Sainsbury’s to cut up to 2,000 administrative jobs

Image copyright Newscast Sainsbury’s has said it will cut up to 2,000 jobs in its human resources and central support departments. The chain, which is the UK’s second biggest supermarket, says the “difficult decision” is part of a wider plan to cut costs. The restructuring will affect roles in stores, as well as in the […]

Harvey Weinstein: Film company in talks over possible sale

Harvey Weinstein: Film company in talks over possible sale

Image copyright AFP The film production company co-founded by Harvey Weinstein, who is facing a number of sexual assault allegations, is in talks over a possible sale. The Weinstein Company said it had entered a preliminary deal with US private equity firm Colony Capital. Mr Weinstein, 65, was fired by the board of his company […]

Daimler recalls 400,000 Mercedes-Benz cars in the UK

Daimler recalls 400,000 Mercedes-Benz cars in the UK

Image copyright Getty Images Daimler is recalling about 400,000 Mercedes-Benz cars in the UK over a potential airbag safety issue. The problem affects certain A, B, C, and E-Class models, together with CLA, GLA and GLC vehicles, built between November 2011 and July 2017. The recall is not related to the exploding Takata airbag scandal, […]

Lufthansa bids for parts of Alitalia

Lufthansa bids for parts of Alitalia

Image copyright Getty Images German airline Lufthansa has submitted an offer for parts of Italy’s failing Alitalia, as the Monday deadline for offers approaches. Lufthansa said it hoped to establish a “New Alitalia”, but was only interested in parts of the existing business. On Friday, the Italian government postponed the deadline for making a final […]

Financial regulator warns of growing debt among young people

Financial regulator warns of growing debt among young people

Image copyright Getty Images The chief executive of the Financial Conduct Authority has warned of a “pronounced” build up of debt among young people. In an interview with the BBC, Andrew Bailey said the young were having to borrow for basic living costs. The regulator also said he “did not like” some high cost lending […]

The seaside towns hit by a rising tide of debt

The seaside towns hit by a rising tide of debt

Seaside towns in England and Wales – and the young families living in them – are suffering the worst levels of debt in the country, new figures reveal. The Isle of Wight has the highest level of insolvencies amongst young adults, according to the Insolvency Service, followed by Torbay and Scarborough. Overall the number of […]

Interest rate rise should be delayed, EY Item Club says

Interest rate rise should be delayed, EY Item Club says

Image copyright PA The Bank of England should hold off from raising interest rates next month, according to a forecasting body. Bank Governor Mark Carney said rates could go up in the “relatively near term”, with many analysts expecting a hike in November. However, EY Item Club said such a move risked hurting the UK’s […]

Vauxhall plans 400 job cuts at Ellesmere Port as sales fall

Vauxhall plans 400 job cuts at Ellesmere Port as sales fall

Image copyright Vauxhall Vauxhall is cutting about 400 job at its Ellesmere Port car plant due to falling sales. The carmaker, now owned by France’s PSA Group – maker of Peugeot and Citroen – is “facing challenging European market conditions,” a spokesman said. Ellesmere Port, which makes the Astra models, will move from two production […]

Saudi Aramco said its flotation remains on track for 2018

Saudi Aramco said its flotation remains on track for 2018

Image copyright Reuters Saudi Aramco has insisted that its plans for what is likely to be the world’s biggest stock market listing remain on track. There are reports Aramco might shelve the initial public offering (IPO) in favour of private share placings. But the state-owned oil giant said the timing for a £1.5 trillion dual […]

UK farmers will ‘grow more food’ if no Brexit deal – minister

UK farmers will ‘grow more food’ if no Brexit deal – minister

Media captionChris Grayling said that British farmers would produce more if food prices increase post-Brexit British farmers would produce more food themselves in the event of the UK leaving the EU without a trade deal, a cabinet minister has suggested. Transport Secretary Chris Grayling was responding to industry claims that food prices could rise sharply […]

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