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Ralph Lauren to cut another 1,200 jobs

Ralph Lauren to cut another 1,200 jobs

Image copyright Getty Images Ralph Lauren will cut 1,200 jobs, or 8% of its workforce, as part of a cost-cutting drive. The US fashion brand also planned to close more than 50 stores and simplify its management structure. Ralph Lauren said the measures should save between $180m (£1235m) and $220m a year. Last year Ralph […]

Ex-trader Kerviel wins unfair dismissal

Ex-trader Kerviel wins unfair dismissal

Image copyright AFP Image caption The labour court ordered Societe Generale to pay Jerome Kerviel €450,000 (£350,000) in damages The French ex-trader Jerome Kerviel, whose unauthorised transactions lost his bank €4.9bn (£3.82bn), has won a claim for unfair dismissal. A labour court said the bank, Societe Generale, had dismissed him not because of his actions, […]

Insurer considers demerging Gocompare

Insurer considers demerging Gocompare

Image copyright Esure Image caption Will Gocompare go it alone? Insurance group Esure has said it is considering options for its Gocompare price comparison website, including a possible demerger. Esure said it had “reinvigorated” the marketing strategy of Gocompare – best known for the Gio Compario opera singer character in its adverts – during its […]

WTO chief warns UK of Brexit risks

WTO chief warns UK of Brexit risks

Image copyright Getty Images Image caption WTO chief Roberto Azevedo said he did not know how trade talks would take if the UK left the EU The UK outside the European Union would face uncertain trade relations, according to the World Trade Organization (WTO). In a BBC interview, the WTO’s director general, Roberto Azevedo, said […]

Yellen drops summer rate rise hints

Yellen drops summer rate rise hints

Image copyright AP Federal Reserve chair Janet Yellen has given her strongest indication yet that an interest rate rise will be coming this summer. In a speech in Philadelphia on Monday she said that “positive economic forces have outweighed the negative”. Ms Yellen also warned that a UK vote to leave the European Union could […]

Pound volatile amid Brexit uncertainty

Pound volatile amid Brexit uncertainty

Image copyright Peter Macdiarmid Image caption Some analysts expect a sharp fall in the value of sterling in the event of a vote to leave the EU The pound has weakened after new polls suggested an increased chance of a vote in the referendum to leave the European Union. Sterling did subsequently recover some of […]

Burberry boss sees pay fall by 75%

Burberry boss sees pay fall by 75%

Image copyright Getty Images The boss of Burberry, Christopher Bailey, has seen his pay cut by 75% as the luxury brand battles against slowing growth and a share price fall. His pay fell from £7.5m in the 2014/15 financial year, to £1.9m in 2015/16, according to Burberry’s annual report. The fashion brand has been hit […]

China moves up ‘power women’ list

China moves up ‘power women’ list

Image copyright Getty Images Image caption Margaret Chan, secretary general of the World Health Organization, is the second-highest-ranking Chinese woman on the Forbes list Chinese women have made their strongest showing on Forbes magazine’s list of the world’s most powerful women. The survey also included a record number of women from the UK, though German […]

Vodafone ‘failed’ on customer service

Vodafone ‘failed’ on customer service

Image copyright Getty Images Telecoms provider Vodafone is facing the prospect of a large fine, after the regulator found that it failed to deal with customer complaints properly. Ofcom said it believed that Vodafone had broken the rules on handling complaints over a two-year period up to November 2015. It accused Vodafone of failing to […]

Sports Direct boss ‘will go before MPs’

Sports Direct boss ‘will go before MPs’

Image copyright Martin Rickett/PA Image caption Sports Direct boss and Newcastle United owner Mike Ashley had initially refused to appear before MPs Sports Direct boss Mike Ashley says he will now go before MPs to defend the firm’s “good name”. It reverses the billionaire’s previous decision not to appear before the Business, Innovation and Skills […]