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Tuesday newspaper round-up: Retail woe, credit card misselling, AA, Lidl
The number of retailers going into administration has risen for the first time in five years as falling consumer confidence and rising costs take their toll on businesses. Figures compiled by Deloitte show that 118 retailers became insolvent last year, a 28 per cent increase on 2016, when 92 firms filed for administration. - The Times.
Hastings chairman Fairey to retire in May, Toby van der Meer to take over as CEO
Insurer Hastings said on Tuesday that Mike Fairey has decided to retire as chairman and will step down from the board in May, while Toby van der Meer will take over as chief executive officer.
Morrisons enjoys bumper Christmas, Persimmon expects modestly gain
London open The FTSE 100 was being called 18 points higher on Tuesday, having lost ground to finish at 7,696. 51 the day before.
London pre-open: Stocks to edge higher as investors digest BRC survey
London stocks were set for a slightly firmer open on Tuesday following losses in the previous session.
BAT sees 6% boost to 2018 earnings from US tax cut
Cigarette maker British American Tobacco said 2018 earnings would get a 6% boost from the recent US tax cuts “supporting our commitment to high single digit earnings growth and increased investment in the roll out of next generation products”.
UK retail sales remain lacklustre amid household income squeeze - BRC
UK retail sales remained lacklustre in the industry's vital festive period, a widely followed survey showed on Tuesday, with non-food sales growth the lowest in five years.