Business NEWS

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”


Inquiry to be held into East Coast Mainline fiasco

The House of Commons transport committee has confirmed that it will hold an inquiry into the decision to end the East Coast Mainline rail franchise early, according to BBC News. The Department for … Continue reading “Inquiry to be held into East Coast Mainline fiasco”


Morrisons to cut 1,500 management jobs

UK supermarket chain Morrisons is to cut 1,500 management jobs and create 1,700 lower-paid roles, according to Reuters. The move is a big to cut costs along the lines of similar restructuring by … Continue reading “Morrisons to cut 1,500 management jobs”


eBay to ditch PayPal as preferred processor from 2020

eBay has said PayPal will no longer be its preferred payments processor, according to BBC News. In a blog post, eBay announced that users will be able to manage payments without leaving its … Continue reading “eBay to ditch PayPal as preferred processor from 2020”


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