Image copyright Shell Royal Dutch Shell has said it plans to cut 7,000 to 9,000 jobs as it responds to challenges including the slump in oil demand amid the Covid-19 pandemic. The oil giant said the cuts would be implemented by 2022 and included 1,500 people who were taking voluntary redundancy. It gave no indication of where the job losses… Read more →
Image copyright Getty Images Caesars Entertainment, the Las Vegas casino-owner, has struck a £2.9bn deal to take over William Hill. The boards of the US firm and William Hill agreed a cash offer of 272p a share, compared with 273p at the start of Wednesday trading, subject to shareholders voting in favour. US private equity firm Apollo had also made… Read more →
Image copyright Getty Images British beef is back on US menus for the first in more than 20 years as exports restart on Wednesday. The beef was banned after the BSE outbreak in 1996 when cattle were infected by what became commonly known as Mad Cow Disease. Some UK beef was cleared for export in March after US inspections in… Read more →
Image copyright Sonia Hawkins Image caption Sonia Hawkins says more jobs will now have to go Chancellor Rishi Sunak admitted last week that his latest coronavirus economic support package won’t save all jobs. But as employers and employees digest the latest plans it’s clear many of them feel viable firms are being hung out to dry just as the economy… Read more →
Douglas FraserBusiness/economy editor, Scotland Related Topics Scottish Budget image copyrightReuters The forecast contraction in the Scottish economy of 10% is in line with the UK, but worse than most other countries. Paying the bills may continue to weigh on health budgets well beyond this year, say fiscal experts, and we can expect big tax increases by 2025. Scots support higher… Read more →
Image copyright Reuters LVMH once said that Tiffany “stood for love” but it now describes the New York jeweller as a “mismanaged” company with “dismal” prospects. The Louis Vuitton-owner made the claims in a countersuit against Tiffany in a dispute over a $16.2bn takeover deal. LVMH claims Tiffany is no longer the business it agreed to buy last November before… Read more →
Image copyright Getty Images Tesco has set a target to sell four times as much meat alternative protein by 2025 as demand for sustainable products climbs. The supermarket giant wants a 300% boost in sales compared with 2018 as part of a sustainability drive. It will aim to sell more plant-based sausages and burgers, as well as products designed to… Read more →
image copyrightGoogle image captionCrescent Link is one of the biggest retail developments in the north-west The owners of Crescent Link retail park in Londonderry have announced expansion plans that would create more than 100 jobs. Manchester-based David Samuel Properties said the £5m expansion would see upgrades to the existing Homebase and M&S stores. It will also see the Food Warehouse… Read more →
Image copyright Getty Images Bakery chain Greggs has hinted at possible job cuts as the government’s furlough scheme ends. The company, which employs 25,000 workers, expects business activity to “remain below normal for the foreseeable future”. It said it had reviewed staff costs and was currently consulting with unions and employee representatives. Greggs said it wanted to reduce the risk… Read more →
Image copyright Getty Images More than one in three young people say they have lost hope of getting their dream job because of coronavirus, the Prince’s Trust has said. The charity said a survey of 2,000 people aged 16 to 25 across the UK showed 44% had lower aspirations for the future as a result of the pandemic. Its UK… Read more →