Image copyright Getty Images Three of the biggest US banks reported strong profits on Friday, helping to lift US share markets. The gains at JP Morgan Chase, Citigroup and Wells Fargo came despite concerns about rising interest rates and the impact of trade tariffs on business expenses and global growth. JP Morgan Chase boss, Jamie …
Image copyright Getty Images Patisserie Valerie has been saved from collapse after entrepreneur Luke Johnson, who owns 37% of the company, offered up to £20m in loans to the struggling chain. Mr Johnson has offered £10m in a three-year loan to owners Patisserie Holdings plc, which the company said would provide “immediate liquidity”. He has …
Image copyright Colin McLatchie Image caption The listed building on Buchanan Street extends over several floors Sports Direct plans to buy the House of Fraser building in Glasgow in a £95m deal. The firm has promised to turn the luxury department store into the “Harrods of the North”, safeguarding 800 jobs. The store, which is …
Image copyright Regis hair salons Regis UK, the firm behind hairdressing chains Regis and Supercuts, is seeking a rescue deal in order to stay afloat. The firm is looking to slash its rents through a company voluntary arrangement (CVA) as it struggles with lower footfall, the apprenticeship levy and higher pension costs. The firm employs …
Image copyright Ben Pruchnie/Getty Images Profits at toy store Hamley’s plunged more than 600% with the the firm blaming factors such as Brexit and the threat of terrorism for the drop. The firm made a £9.2m loss for the year to 31 December, having made a £1.7m profit the previous year. Hamley’s, the world’s oldest …
Image copyright Getty Images Thousands of pubs face closure if the chancellor presses ahead with a rise in beer duty in this month’s Budget, the industry has warned. Britain’s Beer Alliance, made up of individual publicans and brewers, is urging drinkers to contact their MP. A report estimates 6,000 pubs could go over the next …
Image copyright Airbus Image caption Airbus made fuel system changes to its existing A350-900 aircraft to allow for an extended flight range – giving it the name A350-900 ULR (ultra long range) The world’s longest non-stop commercial flight has landed New York, beginning a journey in Singapore covering more than 15,000km in 17 hours and …
The chancellor says the pace is picking up on Brexit talks and a deal could lift the economy. Source by [author_name]
Image copyright Getty Images The owner of Patisserie Valerie has said its finance director Chris Marsh was arrested last night and then released on bail. The cafe chain is fighting for survival after revealing on Wednesday it had uncovered “significant, and potentially fraudulent, accounting irregularities”. Mr Marsh had been suspended when these problems were discovered. …
Image copyright Rob Kim Sir Richard Branson has halted talks over $1bn Saudi investment in Virgin space firms after the disappearance of Saudi journalist Jamal Khashoggi. Sir Richard has also suspended directorships in two tourism projects. Mr Khashoggi, a noted critic of the Saudi government, disappeared when visiting the Saudi consulate in Istanbul last week. …