Business

Poundworld to start 'closing down' sales

Image copyright Getty Images Staff at discount retailer Poundworld have been told “closing down” sales will start on Thursday. However, administrators Deloitte stressed that no stores were “definitely” closing and that the search for a buyer continued. Deloitte also said it had appointed retail consultants Hilco to help with the management of the stores. Poundworld, […]

Business

Prescott and Conran hospitality group goes bust

Image copyright Getty Images Image caption Sir Terence Conran, 86, founded homeware chain Habitat An upmarket restaurant group run by Habitat founder Sir Terence Conran has gone into administration. Prescott and Conran, which was co-founded by the design guru, said its three remaining outlets in London had shut, putting 168 jobs at risk. The affected […]

Business

Siemens UK boss says no-deal Brexit does not look good

Image copyright Reuters The UK should should remain in the customs union after Brexit unless there is a proper alternative, the boss of Siemens UK has said. J├╝rgen Maier, chief executive of the German firm’s UK operations, told Reuters contingency planning for Brexit was “very difficult” as “we don’t know… what we are planning for”. […]

Business

M&S should look at Amazon tie-up, says Marcus East

Image copyright Getty Images A former digital boss at Marks & Spencer has told BBC Radio 5 Live that the retail chain should “seriously” look at a tie-up with Amazon. Marcus East, who worked under former chief executive Marc Bolland, said it needs to “tackle the digital space”. Last month, Marks & Spencer said it […]

Business

Asda and Sainsbury's heads lambasted by MPs

Image copyright Getty Images MPs have accused the heads of Asda and Sainsbury’s for talking “baloney” about the impact of their merger. Neil Parish, chair of the Environment, Food and Rural Affairs Committee, said small suppliers would suffer from their pledge to cut 10% off the price of “everyday” items after they merge. Asda chief […]

Business

Disney increases bid for Murdoch's Fox assets

Image copyright Getty Images Disney has increased its offer for 21st Century Fox to $71.3bn in cash and shares, up from an earlier $52bn offer. The move values Fox at $38 a share, some $10 higher than Disney’s first offer in December. Disney is locked in a battle with US media conglomerate Comcast, which has […]

Business

British Airways cancels 'incorrectly' cheap tickets

Image copyright Getty Images Image caption British Airways has apologised and offered full refunds for the error Passengers who bought cheap British Airways flights say they are angry after their tickets were cancelled because the prices were wrong. The airline said it had sent incorrect fares to a number of travel agents for flights to […]

Business

EU to launch counter-tariffs against US on Friday

Image copyright Devaki Knowles Image caption The EU will target emblematic US exports such as blue jeans The European Union will launch a raft of retaliatory tariffs against US exports on Friday, a top official has said. The move comes after US President Donald Trump imposed steep duties on steel and aluminium in May. American […]

Business

RBS branch closure reviewer appointed

Image copyright Google Image caption Melrose is one of the 10 branches which will have its future put under review A review of 10 Royal Bank of Scotland branches earmarked for closure will deliver its findings by September. Chartered accountants and business advisers Johnston Carmichael will carry out the independent study. The branches are Biggar, […]