Johnston Press boss reassures staff as they ‘prepare for restructure’
The chief executive of Johnston Press has reassured staff of a “brighter future” after the company announced it was preparing to enter into administration.
UK and abroad
Publisher Johnston Press announces preparations to enter into administration
Johnston Press, which owns newspapers including the i, The Scotsman and The Yorkshire Post, is preparing to enter into administration, the company has confirmed in a statement.
Mixed day on markets against backdrop of political uncertainty
The mood simmered on UK markets on Friday as the dust settled on a tumultuous week in British politics.
RBS drops out of regulator’s list of important global banks
Royal Bank of Scotland has been dropped from a list of the world’s most important banks, signifying the lender will no longer be required to hold extra capital in case it fails.
ShortList magazine axed as publisher focuses on women’s title
Men’s magazine ShortList is being axed in print as its publisher focuses on women’s title Stylist.
Iceland boss urges politicians to set aside ideology and seal May’s Brexit deal
The boss of Iceland has urged politicians to put aside personal ambitions and seal Theresa May’s Brexit deal, as businesses seek clarity after a tumultuous week.
EasyJet to see annual profits take off as focus shifts to guidance
EasyJet is to reveal annual profits surging by up to 42% on Tuesday with the low budget airline brushing off strike action and gaining from the troubles beset by rivals.
Pound steadies after biggest sell-off since 2016
The pound has steadied after enduring its biggest one-day decline for more than two years amid Thursday’s Brexit deal chaos.
Kier to book £10m for turnaround programme
Kier is to book £10 million of costs in its half-year related to the group’s turnaround programme, but has assured this is set to reverse over the full year.
More evidence needed for proposed US ban on menthol cigarettes: Imperial Brands
Tobacco giant Imperial Brands has welcomed US measures to curb teenager access to vaping products, but said further research is needed around plans for an outright ban on menthol cigarettes.
Virgin Media and EE fined total of £13.3m over ‘excessive’ exit fees
Virgin Media and EE have been fined a combined £13.3 million by regulator Ofcom for overcharging nearly 500,000 phone and broadband customers who wanted to leave their contracts early.
Pound and UK companies battered by Brexit deal resignations
The pound plummeted on Thursday as a series of ministerial resignations dealt a blow to Theresa May’s Brexit deal.
Quorn makes preparations for hard Brexit as new factory opens
Quorn Foods is making Brexit contingency plans as it opens a new facility to keep up with rising demand for alternatives to meat.
Run of higher sales continues at Asda ahead of Sainsbury’s merger
Sales at Asda increased in the three months to the end of September as more than 100,000 new customers shopped at the supermarket.
Patisserie Valerie brings in turnaround expert to replace CEO
The boss of beleaguered cake chain Patisserie Valerie has stepped down as the company installs a new CEO to lead its recovery.
Regulators ‘hold call with banks’ as pound and stocks tumble
Britain’s biggest banks have reportedly been summoned for a call with City regulators over market turbulence after Government Brexit resignations sent the pound and stocks tumbling.
Stansted’s expansion bid approved by council
London Stansted’s bid to raise the limit on its passenger numbers has been approved by a council.
Young’s Pubs makes Brexit plans as boss calls Raab resignation ‘big blow’
The boss of Young’s Pubs has said the company is making contingency plans for a hard Brexit, as he described ministerial resignations over a draft deal as a “big blow” for business.
Strong growth in the US offsets slower UK box office at Cineworld
Cineworld’s US business helped to offset sluggish growth in the UK in the year so far as the cinema giant posted a rise in revenue.
Supermarkets cut petrol and diesel prices by up to 3p per litre
Supermarkets have announced fuel price reductions after being accused of not passing on savings from lower wholesale costs.
Aston Martin shares fall despite upbeat sales guidance
Aston Martin Lagonda has seen shares remain under pressure despite upping its sales outlook in its first set of results as a listed company.
Government resignations spark pound sell-off
The pound has plummeted after shock ministerial resignations dealt a blow to Theresa’s May’s Brexit deal, and is set to remain under pressure as Cabinet support proves short-lived.
Eve Sleep shares rise amid plans to fund new strategy
Shares in online mattress brand Eve Sleep soared higher on Thursday as the company signalled a move away from heavy marketing and kicked off a fundraising plan.
Asda cuts fuel prices by up to 3p per litre
Asda has reduced its petrol and diesel prices by up to 3p per litre after fuel retailers were accused of not passing on savings from lower wholesale costs.
Card Factory returns to sales growth amid ‘challenging’ trading
Retailer Card Factory has returned to sales growth ahead of the peak festive season as it overcame “challenging” high street trading.
Bovis says Brexit uncertainty has affected buyers
Shares in Bovis Homes fell after the housebuilder cautioned uncertainty surrounding the UK’s departure from the European Union has put off discretionary homebuyers.
Royal Mail boss vows to take action after half-year profits tumble
Royal Mail’s new boss Rico Back has pledged action to boost the group’s performance including a review of its under-pressure UK postal network as it revealed a sharp fall in profits.
BBC accused of failing to ‘fully untangle’ mess over freelance tax affairs
The BBC has been accused of failing to “fully untangle” the “mess” caused by the use of personal service companies – as it emerged that some 800 presenters are at risk of being challenged over their tax affairs.
Brexit looms over markets as traders await draft deal verdict
Brexit jitters were hanging over the markets on Wednesday as traders awaited the result of Theresa May’s attempts to get a draft Brexit deal past her Cabinet.
IMF warns of 8% GDP fall if UK does not agree Brexit deal
The British economy could take a hit of up to 8% if there is no Brexit deal, the International Monetary Fund (IMF) has warned.
Prudential progressing with de-merger as profit lifted by Asia business
Prudential posted double-digit profit growth from its life insurance operations as it said the de-merger of its UK operations remains on track.
Sports Direct announces further House of Fraser closures
Four more House of Fraser stores are set to close after new owners Sports Direct failed to reach an agreement with the landlord.