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Shapps tells British Steel owner redundancy plans are “unhelpful”
The business secretary, Grant Shapps, has told British Steel’s Chinese owner that proposals to make hundreds of workers redundant are “unhelpful” amid negotiations over a £300m taxpayer support package.Sky News understands that Mr Shapps wrote to Li Huiming, Jingye Group’s chief executive, this week prior to the public disclosure of its plans to axe 800 …
Business
Sky News
Shapps tells British Steel owner redundancy plans are ‘unhelpful’
Business Secretary Grant Shapps has told British Steel’s Chinese owner that proposals to make hundreds of workers redundant are “unhelpful” amid negotiations over a £300m taxpayer support package.Sky News understands that Mr Shapps wrote to Li Huiming, Jingye Group’s chief executive, this week prior to the public disclosure of its plans to axe 800 jobs …
Business
Business Live
JD Sports sets out plans to become the ‘leading global sports-fashion powerhouse’ and open hundreds of stores a year
JD Sports has set out its vision to become the world’s “leading global sports-fashion powerhouse”. The Bury-headquartered group has drawn up a five-year plan that is being presented to analysts and investors. In an update to the London Stock Exchange, JD Sports said it is aiming to put its JD brand first, focus on “complementary …
Business
Evening Standard
How will the latest rail strikes affect each train operator?
Britain’s train services will be hit by strike action on Friday.Train driver members of Aslef and the Rail, Maritime and Transport union (RMT) will walk out in a long-running dispute over pay, jobs and conditions.Here is a breakdown of each operator’s plan for Friday:– Avanti West CoastNo trains will operate.Read MoreRail passengers warned of continued …
Business
Evening Standard
Virgin Atlantic to relaunch Shanghai flights suspended since 2020
Virgin Atlantic has announced it will restart flights between London Heathrow and the Chinese city of Shanghai on May 1, ending a two-and-a-half-year suspension.The airline has not operated flights on the route since December 2020 due to the coronavirus pandemic.It said it will resume operations following a relaxation of China’s travel restrictions, with borders reopened …
Business
Sky News
Bank of England hikes interest rates by 0.5 percentage points in tenth consecutive rise
The Bank of England has raised UK interest rates by a further half percentage point to 4%, but gave its clearest signal yet that borrowing costs may now be nearing their peak.This was the Bank’s tenth successive interest rate increase, but in the accompanying documentation, it hinted that there is a chance it might be …
Business
Sky News
Base interest rates up to 4% but Bank of England’s language on economy shifts
The Bank of England has raised UK interest rates by a further half percentage point to 4%, but gave its clearest signal yet that borrowing costs may now be nearing their peak.This was the Bank’s tenth successive interest rate increase, but in the accompanying documentation, it hinted that there is a chance it might be …
Business
Business Live
Queens Arcade in the centre of Cardiff in property receivership
The Queens Arcade in the centre of Cardiff has been put into property receivership. The previous owner of the freehold interest in the two level retail scheme, Isle of Man based company Sapphire, is understood to have breached its banking covenant. The undisclosed bank has maintained Addington Capital as asset manager for the scheme, while …
Business
Evening Standard
Heathrow boss John Holland-Kaye to stand down this year
Heathrow Airport boss John Holland-Kaye is to leave his role this year.The UK’s busiest airport announced that Mr Holland-Kaye, who has been chief executive for nine years, will remain in post until a successor is appointed.Mr Holland-Kaye played a key role in Heathrow securing parliamentary approval for its third runway scheme, and has been a …
Business
Business Live
Studio Retail chief executive stands down almost a year after rescue by Mike Ashley’s Frasers Group
The chief executive of Studio Retail has stepped down almost a year after it was rescued by Mike Ashley’s Frasers Group. Paul Kendrick has left his position at the Lancashire-headquartered company, according to newly-filed documents with Companies House. Mr Kendrick took on the role permanently in March 2021, having served as CEO designate since July …
Business
Evening Standard
Heathrow Airport boss to step down
Heathrow Airport CEO John Holland-Kaye has informed the company’s board that he will step down this year.Holland-Kaye became the boss of Britain’s largest airport in 2014 and led the airport through the Covid-19 crisis, as well as helping to develop expansion plans that included a controversial third runway. He joined Heathrow in 2009 from construction …
Business
Business Live
Superdry chief executive ‘no plans’ to take company private – for now
The boss of fashion chain Superdry says he has no plans to take the company private “at the moment”. Julian Dunkerton, who is the founder of the Cheltenham-headquartered retail group, confirmed the news to the London Stock Exchange on Thursday (February 2). He was responding to recent reports in the press. It means under UK …

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