Business NEWS

Plans for new Northumberland coal mine scuppered

Plans to develop an open cast coal mine in the North East of England have been rejected on climate change grounds, according to Reuters. Last year Northumberland County Council approved a proposal from … Continue reading “Plans for new Northumberland coal mine scuppered”


US hurricanes contribute to £2bn annual loss for Lloyd’s of London

Pre-tax losses for Lloyd’s of London reached £2bn last year, the first time the insurer has incurred an annual loss in six years. According to BBC News, this was a sharp reversal after … Continue reading “US hurricanes contribute to £2bn annual loss for Lloyd’s of London”


Unilever HQ to move to Rotterdam

Unilever has announced that it will move its headquarters from London to the Dutch city of Rotterdam, according to BBC News. The international giant said having a single legal entity in the Netherlands … Continue reading “Unilever HQ to move to Rotterdam”


Sainsbury’s to increase basic pay rate, remove Sunday working premiums

Sainsbury’s has announced a shake-up of working conditions for its employees, according to the Guardian. Staff are to receive a higher rate of basic pay but paid breaks and Sunday premium pay and … Continue reading “Sainsbury’s to increase basic pay rate, remove Sunday working premiums”


AXA to buy XL Group for $15.3bn

AXA is to acquire 1005 of XL Group Ltd, according to Actuarial Post. The purchase price is said to be $15.3bn, to be paid in cash. Under the terms of the agreement, which … Continue reading “AXA to buy XL Group for $15.3bn”


New Look to enter a CVA

UK fashion retailer New Look has announced a plan to close 60 stores in a bid to avoid going into administration, according to BBC News. The fashion chain’s rescue Company Voluntary Agreement (CVA), … Continue reading “New Look to enter a CVA”


Toyota pledges to build next gen Auris in UK

Carmaker Toyota has announced it will build its new Auris hatchback at the Burnaston factory in Derbyshire, according to BBC News. The Japanese automotive company said the next generation Auris would also have … Continue reading “Toyota pledges to build next gen Auris in UK”


Toys R Us enters administration

The toy retailer Toys R Us has gone into administration. According to BBC News, the ‘orderly wind-down’ puts 3,000 jobs at risk in the UK. The troubled toy chain had been facing a … Continue reading “Toys R Us enters administration”


UK government muses tax on tech revenues, not profits

The UK government could be set to change the way technology giants are handled by the taxation system, according to BBC News. The Treasury has confirmed that a new tax on company revenues … Continue reading “UK government muses tax on tech revenues, not profits”


US steel tariffs could trigger trade war, says German Chamber of Commerce

The German chamber of commerce has warned that US steel tariffs could trigger a trade war with major trading partners, according to Reuters. Analysts estimate that such a conflict could cut growth in … Continue reading “US steel tariffs could trigger trade war, says German Chamber of Commerce”


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