Business NEWS

UK retailers John Lewis and Next post higher profit

Retailers John Lewis and Next, two of Britain’s biggest high street names, reported an increase in half-year profit in their financial reports released today. Employee-owned partnership John Lewis, which operates John Lewis department … Continue reading “UK retailers John Lewis and Next post higher profit”


OECD lowers forecast for UK economy in 2012

The Organisation for Economic Co-operation and Development (OECD) has said that it expects the UK economy to contract by 0.7% in 2012. This is a significant decrease from the OECD’s forecast in May … Continue reading “OECD lowers forecast for UK economy in 2012”


Amazon to compete with Groupon by launching daily deal site in London

E-commerce giant Amazon is on a quest to conquer new territories by launching a daily deals site, designed to operate for London initially, it has emerged. The new site will aim to compete … Continue reading “Amazon to compete with Groupon by launching daily deal site in London”


UK business groups expect economy to shrink this year

Leading business groups in the UK have downgraded their economic forecasts and called for action from the government. The British Chambers of Commerce (BCC) announced today that it expects the UK’s gross domestic … Continue reading “UK business groups expect economy to shrink this year”


E-crime costs UK retailers £200m a year

Internet crime is the biggest emerging threat to the UK’s retail sector, the British Retail Consortium (BRC) claimed today. This type of criminal activity is a growing threat to retailers as more and … Continue reading “E-crime costs UK retailers £200m a year”


Wet weather keeps shoppers away from Britain’s high streets

There was a decrease in the number of shoppers visiting high streets, shopping centres and out of town retail parks across the UK in the three months to July, according to a report … Continue reading “Wet weather keeps shoppers away from Britain’s high streets”


UK airport operator BAA to put Stansted Airport on the block

UK’s BAA Airports Limited said today it will proceed with the disposal of London-based Stansted Airport Limited after deciding not to file an appeal to the Supreme Court against a court decision regarding … Continue reading “UK airport operator BAA to put Stansted Airport on the block”


Virgin Rail loses West Coast contract to FirstGroup

Sir Richard Branson’s UK rail operator, Virgin Rail, has lost its bid to continue running the West Coast mainline route, it was announced today. The contract has been handed to rival operator FirstGroup … Continue reading “Virgin Rail loses West Coast contract to FirstGroup”


Sponsor Bain acquires 30% stake in Genpact for $1bn

US private equity firm Bain Capital LLC has agreed to buy some USD1bn (EUR815.7m) worth of common shares in Bermuda-based business process management (BPM) company Genpact Ltd (NYSE:G) from certain existing sponsors, the … Continue reading “Sponsor Bain acquires 30% stake in Genpact for $1bn”


Online travel agents and hotel group broke competition law, OFT claims

Two online travel firms and a hotel group have been accused of infringing competition law by limiting hotel room discounts. The UK’s Office of Fair Trading (OFT) issued a Statement of Objections today, … Continue reading “Online travel agents and hotel group broke competition law, OFT claims”


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