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Evening Standard
Vodafone warns on profits and seeks e1 billion in cost cuts
NICK Read’s bit to transform Vodafone into a simpler, more dynamic business took a hit today as it warned that in some parts of Europe hyperinflation is leading to soaring costs.Last week the CEO agreed to sell 50% of its mobile phone masts business to private equity, a deal welcomed by investors keen to see …
Business
Sky News
The sliver of good news as UK’s economic malaise spreads to jobs market
The cracks are starting to show.Tuesday’s labour market figures suggest that the economic malaise afflicting the country is now spreading to the jobs market. The unemployment rate edged higher in the three months to September to 3.6%, in a sign that employers are paring back their hiring plans in the face of rising costs and …
Business
Evening Standard
Imperial Brands takes hit to annual earnings from Russia exit
Tobacco giant Imperial Brands has revealed a steep fall in annual profits after taking a £463 million hit from its move to pull out of Russia.The group behind brands such as blu, Gauloises cigarettes and Rizla posted a 14.7% drop in operating profit to £2.7 billion for the year to September 30, with earnings sent …
Business
Evening Standard
BAE Systems set for growth amid higher global military spending
Defence giant BAE Systems has enjoyed stronger sales as countries increase military spending amid the Russian war in Ukraine.The FTSE 100-listed company said that many of the countries it operates in have either announced increases in defence spending, or are making plans to lift spending “to address the elevated threat environment”.Most major defence programmes tend …
Business
Business Live
Tobacco giant Imperial Brands’ profits hit after Russia exit
Tobacco giant Imperial Brands has reported a sharp drop in profits following its exit from Russia and the country’s associated markets in March. In its full-year results on Tuesday (November 15), the Bristol-headquartered company said operating profits had fallen by 14.7% over the year to £2.6bn – down from £3.1bn the year before. The maker …
Business
Business Live
Poundstretcher exits CVA after paying off creditors at a rate of 12p in the pound
Management at the Poundstretcher discount chain say they have exited a two year CVA after repaying creditors at a rate of 12p in the pound. The business brought in the legal arrangement back in July 2020 to find a way of offloading high rent stores. It means the Leicestershire headquartered discount chain has paid off …
Business
Business Live
West Midlands Tech Awards 2022 shortlist revealed
The shortlist for our West Midlands Tech Awards 2022 can be revealed. The annual ceremony will celebrate the region’s top tech and digital companies, entrepreneurs and rising stars across a broad range of different categories (see full shortlist below). This year’s awards is being run by BirminghamLive and CoventryLive in association with BusinessLive and we …
Business
Sky News
‘You’re having a laugh’: Tesco Christmas shoppers complain about huge online queue and crashing site
People hoping to bag themselves a Tesco Christmas delivery slot have been faced with an online queue of nearly 300,000 people this morning.Not only has the wait been extremely long, but shoppers have also had to struggle against a crashing website, with some reporting that they were booted out of the supermarket queue as soon …
Business
Sky News
Wages up – but so is unemployment
Wage growth picked up by more than expected over the three months to September, according to official figures also showing a rise in the jobless rate.The Office for National Statistics (ONS) said average weekly earnings, excluding bonus payments, rose at an annual rate of 5.7% during the three months to September as more workers secured …
Business
Sky News
Hunt expected to announce rise in national living wage
Chancellor Jeremy Hunt will announce a rise in the national living wage this week, Sky News understands.Mr Hunt and Prime Minister Rishi Sunak will accept an official recommendation to increase the living wage from £9.50 an hour to about £10.40 an hour, according to news first reported in The Times. The rise of nearly 10% …
Business
Sky News
Amazon ‘to axe 10,000 workers’ after forecasting weaker growth
Amazon is to let go of approximately 10,000 employees as early this week, it has been reported.The jobs are to be lost in the corporate and technology parts of the company, according to The New York Times. Cuts are being made in the devices section of the company which makes the Alexa voice-assist tool; human …
Business
Sky News
Joules was a company that had lost its way | Ian King
There has been an air of inevitability for some time hanging over Joules, the fashion retailer, which today announced that it was going into administration.You name it, it has gone wrong for Joules this year. There is an old saying in the City that, like buses, profits warnings come in threes and, sure enough, Joules …

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