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  • Online fashion retailer Boohoo raises revenue target after strong Christmas

    January 15, 2019 7:46 AM 105

    While rival ASOS issued a profit warning before Christmas, Boohoo saw sales jump in the UK and US market. The owner of Nasty Gal and Pretty Little Thing said revenue rose 44% to £328.2m in the four months to 31 December, up from £228.2m a year earlier. In the UK, revenues rose 33% to £180m and US sales jumped 78% to £70.4m. Boohoo now expects revenues

  • New Look to slash debt by £1bn to restore profitabilty

    January 14, 2019 9:12 AM 113

    The South African-owned company warns that conditions in the UK retail market continue to be challenging.  The company, which is closing its remaining 120 stores in China as well as 60 stores in the UK to return to profitability, said it had agreed with key shareholders to slash its debt from £1.35bn to £350m. It will raise £150m in new money to finance

  • British economy hit by 'steep decline' in manufacturing

    January 11, 2019 10:55 AM 105

    The biggest brake on growth comes from a drop in car production, amid factory shutdowns, weak demand and falling diesel sales. The nation's GDP grew by 0.3% in the three months to November, according to the Office for National Statistics (ONS). This is compared to growth of 0.4% recorded in the three months to October. The data reveals that on a rolling

  • Fat cat Friday: Top bosses' 2019 pay already matches the average annual salary

    January 4, 2019 1:39 AM 87

    Chief executives of leading UK companies are now paid 133 times more than the average worker. A report by the High Pay Centre think tank and the Chartered Institute of Personnel and Development (CIPD) says chief executives of FTSE 100 firms have average pay packets £3.9 million, around £1,000 per hour. Published on what it calls "Fat Cat Friday", the report

  • Train punctuality falls to 13-year low amid bad weather, new timetables and strike action

    December 27, 2018 12:26 PM 69

    Latest figures from the rail regulator show passengers have suffered the worst year for rail delays since 2005. Data published by the Office of Rail and Road (ORR) showed 14.6% of services missed the industry's public performance measure (PPM) of punctuality in the year to 8 December. It comes as passengers face widespread disruption to their plans over the Christmas

  • Ex-Nissan boss Carlos Ghosn rearrested in Japan on new charges

    December 21, 2018 5:51 AM 78

    Prosecutors alledge Carlos Ghosn passed on personal investment losses of $16.6m (£13.1m) to Nissan.  Carlos Ghosn can be held for another 10 days in a Tokyo jail after prosecutors alleged he had passed on personal investment losses of $16.6m (£13.1m) to Nissan. Ghosn was arrested a month ago - along with a colleague - as part of an investigation into alleged

  • Buyout giant TPG in talks to wash hands of Victoria Plum

    December 13, 2018 11:04 AM 87

    TPG, which bought Victoria Plum in 2014, has been holding talks about merging it with Bathstore, Sky News learns. Sky News has learnt that TPG has been exploring a merger of Victoria Plum, which it bought in 2014, with Bathstore, the high street chain which trades from more than 150 stores across the country. Sources said the talks between TPG and Bathstore

  • Carney warns no-deal could see 10% shopping bill hike

    December 4, 2018 10:18 AM 84

    The Bank of England governor set out his view of the expected impact of crashing out of the EU without a withdrawal agreement as he appeared before MPs on the Treasury select committee. Food prices would be expected to see a sharp one-off rise as the impact of new tariff barriers and a plunge in the pound takes effect, he said. "In the most extreme scenario

  • New ombudsman service for rail passenger complaints

    November 26, 2018 7:01 AM 75

    Consumer groups hope the new system will act as a 'wake-up call' to train companies to start improving their services. Consumer groups hope the new system will drive improvements in the way train companies handle complaints. The ombudsman's decision will be binding and companies will have to take action if failings are identified. Figures from the regulator

  • Carlos Ghosn: Ex-Nissan boss denies financial misconduct allegations

    November 25, 2018 11:10 AM 76

    Prosecutors accuse Carlos Ghosn and fellow Nissan executive Greg Kelly of under-reporting the ex-chairman's income by about £34m. The Brazilian-born tycoon, who was arrested on Monday, told investigators there was no intention to under-report his earnings, public broadcaster NHK said. Mr Ghosn, a car industry titan who led the Renault-Nissan alliance