Image copyright Reuters Image caption Sears sales have been declining for years A US bankruptcy court has approved billionaire Eddie Lampert’s controversial $5.2bn (£4bn) takeover of troubled US retailer Sears. The plan, announced in January, could keep more than 400 stores open and preserve up to 45,000 jobs. It was the only proposal that offered …
Image copyright Empics Flybe has warned shareholders it will wind up the company if they do not back a sale to a consortium led by Virgin Atlantic and Stobart Air. The airline said failure to approve a sale would mean investors were unlikely to get anything for their shares. The airline’s board agreed the £2.2m …
Image copyright Getty Images A decision on budget cuts which could have prevented Ramsgate reopening as a ferry port in the event of a no-deal Brexit has been delayed. Thanet District Council had been set to cut £730,000 of spending on the port. But it delayed the decision at the request of Transport Secretary Chris …
Image copyright Raspberry Pi Image caption Computer firm Raspberry Pi is opening its first store, in Cambridge The team behind the pocket-sized Raspberry Pi computer is opening its first high street store in the city where it was invented. In a move bucking the online retail trend, the company will open an “experimental space” in …
Image copyright PA According to the Bank of England’s latest assessment, the uncertainty of the last few months has left the UK in the weakest growth environment since the crisis – and those scars will linger. It confirms that both growth and inflation at the end of last year is weaker than it previously thought …
Image copyright BAE Systems Image caption The aircraft carriers were constructed across seven sites before being assembled at Rosyth Another 150 jobs are to be lost at the Babcock shipyard in Rosyth, the company has confirmed. The yard is currently working on the second of two aircraft carriers for the Royal Navy. In November 2017, …
Image copyright Getty Images Jaguar Land Rover booked a loss for the last three months of 2018 as sales collapsed in China. The company booked a £3.1bn reduction in the value of its plants and other investments leading to a £3.4bn quarterly loss, its biggest to date. Carmakers are being hit by stronger regulations and …
Image copyright Geograph/Mark Boyer Image caption Bernard Matthews employs workers across Norfolk and Suffolk A suspected cyber attack “potentially compromised” the bank account details of 200 workers at Bernard Matthews. The Norfolk-based turkey producer said it was alerted by its bank on 22 January. “We reported the incident to the relevant authorities and put in …
Bank of England governor Mark Carney says the “fog of Brexit” is creating “tensions” within the economy. Source by [author_name]
Image copyright Reuters Twitter has reported a jump in profits for the final quarter of 2018, despite a fall in the number of people using the micro-blogging platform. Profits rose sharply to $255m (£197m), more than double the $91m profit it made a year earlier, as advertising revenues grew. But Twitter downgraded its revenue forecast …