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Archive for February, 2017

Deal struck over BHS pension scheme

February 28, 2017

Sir Philip Green has agreed a £363m cash settlement with the Pensions Regulator to plug the gap in the BHS pension scheme. Workers will get the same starting pension that they were originally promised under the agreement. It brings to a close a long-running negotiation over benefits for former workers of the collapsed retailer. Share […]

Delay Brexit if no trade deal reached, say business leaders

Brexit should be delayed if no trade deal can be struck with the EU by the end of the two-year negotiating process, business leaders have said. The British Chambers of Commerce (BCC) also wants businesses to continue to be allowed to recruit skilled and low-skilled EU workers after the UK leaves. The business organisation is […]

Free-range eggs temporarily lose status after bird flu measures

Millions of UK eggs will temporarily lose their free-range status after hens were forced to spend weeks inside barns as part of emergency bird flu measures. Since December, poultry has had to be kept indoors under government orders to prevent the spread of the disease. Under European Union rules, if birds have been housed for […]

Moneysupermarket shares hit as revenues dip

Shares in Moneysupermarket fell more than 6% after the comparison website warned that revenues so far this year were running below last year’s levels. The FTSE 250 company said this was due to customers switching less between savings and current accounts because of low interest rates. The news overshadowed the 16% rise in annual profits […]

Vietnam’s ‘bikini airline’ Vietjet takes off in public listing

Vietnam’s low-cost carrier Vietjet – known for its occasional bikini PR stunts – has soared the maximum 20% in its trading debut in Ho Chi Minh City. The country’s first private airline is thought to soon overtake flag carrier Vietnam Airlines in market share. Investor interest is driven by the growth pace in the domestic […]

State pension age ‘could rise above lifespan’ in poorer areas, say MPs

The state pension age may have to rise to levels above the average lifespan of men in the UK’s poorer areas, MPs say. The Work and Pensions Committee said the age would need to rise above 70 to make the current policy of increasing the pension amount sustainable. State pensions rise each year by the […]

Greggs sales up as it warns on inflation

High Street food chain Greggs has reported a rise in both sales and profits, but it warned it is facing increased inflationary pressures and greater economic uncertainty. Total sales rose by 7% to £894.2m last year, while pre-tax profits hit £75.1m, up from £73m in 2015. But the company said the consumer outlook was “more […]

Indian economic growth slows in December quarter of 2016

India’s economic growth slowed in the December quarter of 2016, but the pace of expansion still beat expectations. The 7% rate was slower than the previous quarter’s rate of 7.4%, but beat analysts’ expectations of 6.4%. Economists had expected the economy to suffer from the government’s decision to withdraw high-denomination banknotes as part of an […]

Net migration to UK falls to 273,000

February 23, 2017

Net migration to the UK has dropped to 273,000 in the year to September, down 49,000 from the previous year. The Office for National Statistics said it is the first time net migration has dipped below 300,000 in two years, but is not statistically significant. But it is short of the government’s target figure for […]

Barclays full-year profits almost treble to £3.2bn

Barclays has reported a jump in annual profits after making “strong progress” in restructuring. The bank reported a profit before tax of £3.2bn for 2016, up from £1.1bn the year before. Its reorganisation has included the sale of its Africa business and selling off “non-core” assets. Chief executive Jes Staley told the BBC the bank […]

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