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Debenhams unveils turnaround strategy

Debenhams unveils turnaround strategy

Image copyright Reuters Department store group Debenhams has announced a turnaround strategy aimed at boosting its appeal as a “destination” shop and improving its online offering. The plan includes a review of up to 10 of its 176 UK stores for possible closure over the next five years. A central distribution warehouse and about 10 […]

Fox dumps star presenter Bill O’Reilly

Fox dumps star presenter Bill O’Reilly

Image copyright Getty Images Image caption More than 50 sponsors have withdrawn ads from Mr O’Reilly’s show Presenter Bill O’Reilly has been dropped from Fox News over sexual harassment claims, the company says. “After a thorough and careful review of the allegations… Bill O’Reilly will not be returning,” the network said in a one-sentence statement. […]

Emirates to cut US flights after Trump travel restrictions

Emirates to cut US flights after Trump travel restrictions

Image copyright AFP Emirates will reduce flights to five US cities from next month, after new security rules targeted travellers from the Middle East. The Dubai-based airline said the change was due to weaker demand for US travel. In March, the US banned electronic devices larger than a mobile phone from cabin luggage on flights […]

Starbucks joins ‘unicorn food’ craze with new drink

Starbucks joins ‘unicorn food’ craze with new drink

Image copyright Starbucks Coffee chain giant Starbucks has hopped on an internet craze for “unicorn food” by launching a limited edition iced drink in the US, Mexico and Canada. It says its Unicorn Frappuccino – a brightly-coloured confection of ice, mango syrup, “creme” and “sour blue drizzle” – changes colour when mixed. Some social media […]

Energy secretary to ‘flex muscles’ over rising bills

Energy secretary to ‘flex muscles’ over rising bills

Image copyright PA “Muscular” action will be taken by the government against energy firms’ “damaging” price rises, a minister has said, but the timing remains unclear. Business and Energy Secretary Greg Clark said that, owing to the imminent election, the date for this “decisive” move was being reviewed. He claimed that firms “milked” loyal customers […]

Financial watchdog to investigate car finance market

Financial watchdog to investigate car finance market

Image copyright Getty Images Britain’s financial watchdog is to investigate the car finance market, with concerns about irresponsible lending. The Financial Conduct Authority (FCA) is also raising concerns about a lack of transparency and potential conflicts of interest. The move follows a rapid surge in consumer credit led by car dealership finance. The FCA said […]

Pound soars and FTSE 100 tumbles after election announcement

Pound soars and FTSE 100 tumbles after election announcement

Image copyright Getty Images The pound rose strongly and share prices in London fell sharply after Theresa May announced plans to call a general election on 8 June. Sterling had fallen before the statement, but it quickly recovered following Mrs May’s announcement. The pound charged 2.2% higher at $1.2846 and rose 1.4% against the euro […]

Next slashes Wolfson’s pay by half after profits slide

Next slashes Wolfson’s pay by half after profits slide

Image copyright Next/PA Image caption Lord Wolfson of Aspley Guise Next has slashed its chief executive’s pay package by more than half after the retailer’s profits fell for the first time in eight years. Lord Wolfson’s total pay, which includes big bonuses, has been cut from £4.3m to £1.8m, for the 2016-17 financial year. He […]

Weetabix to be sold to US company Post Holdings

Weetabix to be sold to US company Post Holdings

Image copyright Reuters UK cereal firm Weetabix is to be bought by US firm Post Holdings for $1.8bn (£1.4bn), its owner has confirmed. Weetabix – made in the UK since 1932 – was put up for sale in January by China’s Bright Food, which bought a 60% stake in 2012. Bright’s acquisition was the largest […]

Cyber attacks ‘hit one in five UK firms’

Cyber attacks ‘hit one in five UK firms’

Image copyright Thinkstock Image caption Firms that don’t adopt the appropriate protections leave themselves open to tough penalties, the BCC says One in five British firms was hit by a cyber attack last year, research suggests. Larger firms – defined as those with over 100 staff – were more likely to be attacked than smaller […]