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Sky News
Hundreds of job losses at Wilko confirmed as rescue bid collapses
Hundreds of job losses at Wilko have been confirmed after a bid to buy the entire business fell through.Administrators PwC said 269 roles at the chain’s support centre in Worksop, Nottinghamshire, would be made redundant, along with 14 roles at Wilko subsidiary Kin Limited. It said further redundancies across two distribution centres in Worksop and …
Business
Euro News
Annual inflation in the eurozone remains unchanged in August at 5.3%, still far from the ECB target
Business
Sky News
UBS to cut 3,000 jobs in Switzerland despite huge profits from takeover of rival
Swiss banking giant UBS has reported a record pre-tax profit of $29bn (£22.8bn) in the latest quarter following its takeover of Credit Suisse.The Zurich-based bank said its bumper earnings in the three months to June were largely down to the assets it acquired from its collapsed rival, which it bought for a discounted price of …
Business
Sky News
Electrified models help power UK car production up by almost a third
The UK car industry has declared it is “recovering” after production last month rose by almost a third compared to a year ago.The Society of Motor Manufacturers and Traders (SMMT) reported a 31.6% hike in output during July versus the same month in 2022. It said the 76,451 vehicles made represented a sixth consecutive month …
Business
Sky News
M&S returns to FTSE 100 as investors cheer turnaround progress
Marks & Spencer (M&S) has secured a return to the FTSE 100 share index, four years after the bellwether retailer was relegated amid a battle for its very future.FTSE Russell, which manages the constituents of UK stock markets, carries out quarterly reviews based on the companies’ market values. In addition to M&S, it also promoted …
Business
Sky News
Job losses at Wilko ‘could be announced on Thursday’
Job losses at Wilko could be announced on Thursday after an offer to buy the entire business reportedly failed to “pass basic checks”, according to a union representing workers.The GMB said it had been told redundancy plans at the discount homeware chain, which were said to have been suspended earlier this week, could be “restarted” …
Business
Sky News
New Future chief ditches past with SmartBrief sale
The new chief executive of Future is to sever ties with its business-to-business operations in a signal of his plans for the owner of Marie Claire and the GoCompare price comparison platform.Sky News has learnt that Jon Steinberg, who took over as the media group’s CEO in April, has hired investment bankers to explore a …
Business
Business Live
Former Co-op Bank boss Paul Flowers accused of fraud
Former Co-op Bank boss Paul Flowers has been accused of defrauding someone of carpets and by using cheques while acting under a power of attorney. The case against the 73-year-old was detailed in court listings at a hearing at Manchester Magistrates’ Court, where the case was adjourned until next week. Flowers was not present for …
Business
Evening Standard
Ticket office closure plans spark fresh safety concerns from rail unions
Rail unions have raised fresh safety concerns over the closure of ticket offices ahead of a protest on the eve of the final day of consultation on the controversial plans.All three main rail unions are stepping up campaigning against closures amid a huge response from more than 460,000 people to the proposals.The Rail, Maritime and …
Business
Evening Standard
An ‘unusual piece of data’ caused flight chaos – air traffic control boss
An “unusual piece of data” caused widespread flight disruption, an air traffic control (ATC) boss said, as airlines are under growing pressure over their treatment of passengers.Many UK holidaymakers are stranded overseas after around 2,000 flights were cancelled because of the issue.There is speculation the ATC failure was caused by a French airline submitting a …
Business
Sky News
What to expect from Apple’s new iPhone event as the date is set
Just as night follows day, September brings an Apple event.The tech giant traditionally sets aside a date in the ninth month of the year to unveil its new iPhones, and 2023’s handsets are set to feature a significant change thanks to new EU rules. Apple will host the event at its campus in Cupertino, California, …
Business
Sky News
Mortgage approvals drop in further sign of housing market slowdown
Mortgage approvals dropped almost 10% last month, new Bank of England figures show.The net decrease – from 54,600 in June to 49,400 in July – is a five-month low and worse than expected. A poll of economists predicted the figure would be around 51,000. It comes following a string of figures from lenders and property …

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