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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”


BT Openreach to bring ultrafast broadband to 3m households by 2020

BT Openreach has pledged to bring ultrafast broadband to three million households by 2020, according to BBC News. The company said it would speed up its plans to bring fibre connections to homes … Continue reading “BT Openreach to bring ultrafast broadband to 3m households by 2020”


Insurers face £30m bill for Carillion claims

Insurance companies have estimated that £30m will be paid out in claims by companies owed money by the liquidated contractor giant Carillion, according to BBC News. Claims for between £5,000 and several million … Continue reading “Insurers face £30m bill for Carillion claims”


JP Morgan issues warning over Brexit job losses

The chief executive of JP Morgan has said the bank may cut its UK workforce by more than 25% if different financial rules are adopted following Brexit, according to BBC News. Boss Jamie … Continue reading “JP Morgan issues warning over Brexit job losses”


UK mortgage approvals drop to lowest rate in five years

Mortgage approvals in the UK have dropped to their lowest level for five years, according to BBC News. Figures from UK Finance indicate that just 36,115 seasonally-adjusted mortgages were approved in December 2017, … Continue reading “UK mortgage approvals drop to lowest rate in five years”


GKN rejects hostile £7.4bn takeover bid from Melrose

The engineering giant GKN has fought off a £7.4bn hostile takeover from Melrose Industries, according to BBC News. Melrose, which specialises in turning around struggling businesses, claimed it could “deliver significantly greater benefits” … Continue reading “GKN rejects hostile £7.4bn takeover bid from Melrose”


Heathrow bids to make third runway 300m shorter

Heathrow Airport has proposed making its third runway 300m shorter in a bid to cut costs in its development scheme, according to the Guardian. The northwestern runway would be reduced in length by … Continue reading “Heathrow bids to make third runway 300m shorter”


BoE says UK jobless rate will fall in 2018

The level of unemployment in the UK is set to fall faster than the Bank of England (BoE) and other economists had predicted, according to a statement from BoE policymaker Michael Saunders reported … Continue reading “BoE says UK jobless rate will fall in 2018”


Carillion enters liquidation

The construction company Carillion has announced that it will go into liquidation. Government-backed attempts to negotiate a deal to save the company failed, according to BBC News. The contractor is the UK’s second … Continue reading “Carillion enters liquidation”


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