Unions have expressed their disappointment and concern after their efforts to prevent thousands of job losses at Tata Steel were rejected by the company. In January, Tata announced plans to cut up to 2,800 jobs in the UK, with the majority of those job losses taking place at the Port Talbot steelworks in South Wales. This decision was made following the company’s confirmation of their desire to... Source ..read more

Former Post Office executive, Angela van den Bogerd, appeared at the inquiry today to provide evidence regarding the faulty Horizon system. Van den Bogerd, who spent over 30 years at the Post Office and was the former people services director, handled complaints about the system. During her testimony, she expressed her sincere apologies to the hundreds of sub-postmasters who were wrongly convicted... Source ..read more

Along with the travel money service, Morrisons has also introduced advertisements on their trolleys. The ads will be placed on the handles of the trolleys and will feature brands such as Coca-Cola, Walkers, and John West. This move is expected to generate additional revenue for the supermarket chain, while also providing brands with a new advertising opportunity. The introduction of these two... Source ..read more

Barclays Reports 12% Decrease in First Quarter Profits Due to Drop in Mortgage Lending and Deposits Barclays, one of the UK’s largest high street banks, has announced a 12% decline in profits for the first three months of the year. The company reported a group pre-tax profit of £2.3bn, down from £2.6bn during the same period last year. Although this figure was slightly higher than analysts’... Source ..read more

Labour Promises Major Shake-Up to UK Railways By [Author] The Labour party has announced plans to bring the railways back into public ownership and establish the Great British Railways (GBR) organization, promising the biggest shake-up to the rail industry in a generation. Shadow transport secretary Louise Haigh made the announcement in a speech, stating that the current “broken” model of the... Source ..read more

Sainsbury’s Reports Higher Than Expected Profits, Credits Aldi Price Match Campaign and Nectar Card Benefits Sainsbury’s, the country’s second-largest supermarket chain, has announced strong financial results for the 2022/23 financial year, exceeding company forecasts and reporting higher than expected profits. The company reported an underlying pre-tax profit of £701m, a 1.6% Source ..read more

Nestle, the world’s largest packaged food company, has reported a decrease in sales following a recent increase in prices. On Thursday, the company announced that its first-quarter sales did not meet expectations, with a notable decline in business in North America. Total reported sales for the first quarter of 2024 were 22.1 billion Swiss Francs (£19.4 billion), a 5.9% decrease compared to the... Source ..read more

McLaren Group, the British supercar maker and Formula One team-backer, has provided lenders with positive indications of an improvement in its financial performance despite facing a record loss of £873m in the 2020 fiscal year. According to sources familiar with the matter, McLaren has informed its bondholders that it recorded a loss of £873m in the 12 months ending 31 December. Source ..read more

One of the UK’s leading double-glazing suppliers, Everest, has entered into administration, causing insolvency practitioners to scramble in an effort to save hundreds of jobs. The company, which has been under the ownership of Jon Moulton’s investment firm Better Capital for over a decade, appointed administrators earlier this week, according to sources. Professional services firm ReSolve has been... Source ..read more

In a recent announcement, the Labour party has promised to renationalise most passenger railways within their first term if they win the next election. This plan has sparked discussions about the potential impact of a Great British Railway on efficiency and cost-effectiveness compared to the current privatised system. To delve deeper into the details of Labour’s proposal, Sky News Daily host Niall... Source ..read more