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Value retailer Wilko has put a quarter of its head office staff into consultation, a move that is widely expected to result in job cuts amongst the 170 employees based there.The company, which rebranded itself from Wilkinson earlier this year, said: “This ongoing programme is essential to maintaining Wilko’s unique...
Amazon has said that losses for the third quarter widened, sending shares down 10%. The internet giant has increased investment in its Amazon Fresh grocery delivery service in the US, and its newly acquired video game streaming site Twitch, which has hurt profits.In the third quarter, Amazon reported a loss...
Microsoft is to phase out the Nokia name on some new products, less than a year after its acquisition and reversing an agreement that stated it would continue to use the name for 10 years.Nokia’s non-mobile division will continue to use the name, but mobile phones will not. The new...
The founder of Superdry, Julian Dunkerton, has stepped aside as CEO, becoming the company’s product brand director. He will be replaced by ex-Co-operative boss Euan Sutherland.Mr Sutherland left the Co-operative in March, having previously held posts in B&Q, Dixons and Coca Cola.Peter Bamford, chairman said: "Euan's appointment marks another important...
A report by MPs into the Co-operative Bank’s failed attempt to buy 632 branches of Lloyds has slammed the company’s auditor KPMG and the financial watchdog the FSA which both should have spotted a black hole in the company’s finances which scuppered the deal.MPs said the late discovery of the...
The chairman of Tesco, Sir Richard Broadbent, has announced that he will leave the firm following the overstatement of its profit expectations in September by £263 million, coupled with a sharp fall in first-half sales and profits.In a statement, Tesco set out the action it was taking to get its...
Two of the US’ largest food and drink groups saw a significant downturn in profits in the quarter year to September, due to lower sales in their domestic market.McDonald's saw earnings fall 30%, whilst Coca-Cola's fell 14%, with revenues down 4.6% at the fast-food chain and broadly flat for the...
Pilots at German airline Lufthansa have said that they will extend their strike action, currently on its eighth day, to international routes, hitting 200,000 passengers.The strike, over proposed changes to retirement and pensions, is expected to deliver a blow to Lufthansa’s profits. Simone Menne, Lufthansa's chief financial officer, said in...
Home Retail Group is to close a quarter of stores at its DIY chain Homebase following a review of the business. The company said that a number of its 323 Homebase stores are either “unprofitable or are in decline" and would face closures under a three-year transformation plan, but insisted...
Apple Inc. shares rose in late trading after the tech giant’s quarterly results exceeded expectations on stronger-than-anticipated iPhone sales.Strong iPhone sales were the key drivers behind Apple’s positive results. The company sold 39.27 million iPhones in the quarter ended Sept. 30, up from 33.79 million units in the previous year....
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