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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 …
Business
Sky News
Price of a pint up 9% in a year as inflation hits pubs
The average price of a pint is up 9% compared to last year, figures show, as the cost of living crisis hits pubs and breweries.The average costs for pubs and brewers were up 22% at the end of the summer – before the colder months brought with them increased heating bills and rising inflation. Rising …
Business
Sky News
The most popular branded foods that have soared in price
Some of the UK’s most popular branded foods have soared in price over the last two years – with a range of items now costing double, according to new research.An investigation by Which? looked at 79 branded items, comparing prices at six major supermarkets (Asda, Morrisons, Ocado, Sainsbury’s, Tesco, and Waitrose) over a 30-day period …
Business
Sky News
Jeff Bezos plans to give most of his £110bn fortune away
Jeff Bezos has revealed plans to give away most of his $124bn (£110bn) fortune during his lifetime.The Amazon founder, 58, is the world’s second-richest man after Elon Musk, the Tesla boss and new owner of Twitter, according to Forbes. This is the first time he has said he plans to give away most of his …
Business
Sky News
Threat to Jacob’s Cream Crackers as factory staff start ‘permanent strike’ over pay
Workers at a Jacob’s factory which makes a host of festive season staples have started an indefinite strike.The GMB union said that more than 750 staff at the plant in Liverpool were stepping up their fight for better pay after taking limited industrial action since September. The factory, which produces Jacob’s Cream Crackers, Twiglets and …

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