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Press Round-Up Short (Premium)
30 Sep
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Monday newspaper round-up: Miss Selfridge, Wrightbus, Hinkley Point

Sir Philip Green’s Miss Selfridge chain posted a £17. 5m loss last year as sales fell and it wrote down the value of loss-making stores. Sales at the youth fashion chain fell more than 15% to £102m in the year to 1 September 2018, while pretax losses more than quadrupled from £4. 3m a year before. Losses widened after more than £12m in one-off costs mostly related to property writedowns were added, as well as redundancies. The average number of staff working in the chain’s UK stores fell by about 300 to 1,188.

27 Sep
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Friday newspaper round-up: Empty shops, executive pension pay, Woodford

Britain’s high streets, shopping centres and retail parks have been left with the highest number of empty outlets in five years as chains have taken a battering from rising costs and low consumer confidence. Nearly 12% of shopping locations were empty in the first half of 2019, up 0. 6% compared to the same period last year, according to research from Local Data Company’s (LDC) review of 3,000 retail centres. – Guardian.

26 Sep
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Thursday newspaper round-up: Ryanair, UK car production, Thomas Cook, Prudential

Bulgaria’s Kristalina Georgieva has said the global economy needs to be ready to cope with a fresh economic downturn after being chosen to head the International Monetary Fund (IMF). The economist said she was taking charge of the Washington-based organisation at a time when growth was slowing, trade tensions growing and with debt at record levels. – Guardian.

25 Sep
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Wednesday newspaper round-up: Wrightbus, Brexit, Woodford, Thomas Cook

Wrightbus, one of Northern Ireland’s largest employers with 1,400 staff, is expected to slump into administration tomorrow after failing to securing an eleventh-hour rescue deal. The move will represent the UK’s second largest insolvency of the week, following the liquidation of the holiday group, Thomas Cook. – Guardian.

24 Sep
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Tuesday newspaper round-up: Thomas Cook, bank branches, Lloyd's of London, Metro Bank

While thousands of holidaymakers were waiting in overseas airports for the government’s emergency airlift to get them home and Thomas Cook staff were losing their jobs, former bosses of the stricken travel firm came under fire for receiving payouts worth more than £35m in the last 12 years. Manny Fontenla-Novoa, who led the acquisition spree that saddled the company with more than £1bn of debt, was handed more than £17m in just over four years as boss of Thomas Cook, boosted by bonuses awarded for slashing 2,800 jobs following the merger with MyTravel.

23 Sep
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Monday newspaper round-up: Brexit, Woodford, Standard Chartered

A health check of Britain’s manufacturers has shown thatsome of the most economically and socially deprived areas in UK are highly exposed to the impact of a no-deal Brexit. Exporters are already suffering losses, especially in Wales, north-east England, Yorkshire and Humberside, which have a significant exposure to trade with the EU, according to a report by manufacturing trade body Make UK and business advisory firm BDO. – Guardian.

20 Sep
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Friday newspaper round-up: Thomas Cook, LSE, Airbus

The future of Thomas Cook is hanging in the balance as the travel company scrambles to raise an additional £200m to secure an emergency rescue deal. Britain’s oldest package-holiday firm must secure the funds before a crucial meeting next Friday after a last-minute demand from its lenders, which include about 10 banks led by RBS, Barclays and Lloyds. – Guardian.

19 Sep
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Thursday newspaper round-up: Credit card spending, River Island, Royal Mail, EDF

Credit card spending has overtaken cash for the first time, according to data from UK retailers. This means notes and coins have been demoted to the third most popular method of payment. The figures from the British Retail Consortium (BRC) – whose members are responsible for £180bn of sales – come amid warnings that millions of adults would struggle to cope in a cashless society. – Guardian.

18 Sep
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Wednesday newspaper round-up: Stockpiling, Sirius Minerals, BHP, Help to Buy

Britons are £128 a year worse off on average than they were in 2008, according to a report that reveals household incomes were hit harder in the wake of the financial crash than official figures have revealed. The New Economics Foundation said figures used to calculate GDP, which is adjusted to take account of rising prices, failed to include essential items that affected the cost of living over the last 10 years. – Guardian.

17 Sep
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Tuesday newspaper round-up: Thomas Cook, Woodhouse, Saudi Aramco, PWC

Thomas Cook has delayed a crunch creditors’ vote until next week, giving the stricken tour operator more time to smooth obstacles to a £1. 1bn rescue package aimed at saving it from collapse. Fears for the future of the the 178-year-old tour operator have been mounting, as it threatens to buckle under the weight of high debt, intense competition and one-off factors including last summer’s heatwave and Brexit uncertainty. – Guardian.

16 Sep
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Monday newspaper round-up: Business investment, Betfred, Thomas Cook

Brexit uncertainty and a global economic slowdown amid the US-China trade war has set Britain on course for the most prolonged slump in business investment in 17 years, according to the British Chambers of Commerce (BCC). Setting Britain on course for weaker economic growth in future, the lobby group said business spending in the UK was due to decline by 1. 5% in 2019 and by 0. 1% next year as companies put their investment plans on ice amid the global political turmoil.

13 Sep
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Friday newspaper round-up: Bercow, Capita, LSE, Woodford

John Bercow has threatened Boris Johnson that he will be prepared to rip up the parliamentary rulebook to stop any illegal attempt by the prime minister to take the UK out of the EU without a deal on 31 October. In a direct warning to No 10, the Speaker of the House of Commons said he is prepared to allow “additional procedural creativity” if necessary to allow parliament to block Johnson from ignoring the law. – Guardian.

12 Sep
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Thursday newspaper round-up: British high streets, iPhone 11, KPMG

Strengthening local economies will do more to revive Britain’s struggling high streets than sprucing up city centres or changing the tax system to help retailers, according to a report. The Centre for Cities thinktank said the government should help towns and cities improve skill levels among local workforces in order to attract businesses and generate well paid jobs. Without the spending power these jobs provide, attempts to make high streets more attractive to consumers will fail, the report said.

11 Sep
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Wednesday newspaper round-up: Retailers, BMW, Cobham, annuity rates

Retailers and unions are calling for urgent government action to help struggling high streets as new data shows the number of shops, pubs and restaurants lying empty is rising at the fastest pace in nearly a decade. About 16 stores closed their doors every day in the first half of 2019 while only nine opened, resulting in a net decline of 1,234 chain stores on Britain’s top 500 high streets according to analysis by PricewaterhouseCoopers (PwC) and high street analysts the Local Data Company (LDC).

10 Sep
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Tuesday newspaper round-up: Spending review, Amazon, start-ups

The head of the Treasury spending watchdog has warned Sajid Javid that he is on track to break government borrowing rules after embarking on the biggest annual increase in spending for 15 years. Robert Chote, the chairman of the Office for Budget Responsibility (OBR), said the chancellor had set a course for the public finances that would probably breach a Conservative manifesto pledge to deliver balanced budgets by the mid-2020s. – Guardian.

09 Sep
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Monday newspaper round-up: Brexit, Morrisons, Nissan, National Grid

Britain will plunge into its first recession in a decade should the government quit the European Union without a deal, according to the latest in a string of gloomy forecasts about the UK’s fortunes outside the EU’s free trade area. Eonomists at the accountancy firm KPMG said that the knock-on effects to Britain’s trade and business confidence of a no-deal Brexit would lead to the economy shrinking by 1. 5% next year. – Guardian.

06 Sep
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Friday newspaper round-up: Fossil fuel, London economy, WeWork, Flannels

Major oil and gas companies have invested $50bn (£40. 6bn) in fossil fuel projects that undermine global efforts to avert a runaway climate crisis, according to a report. Since the start of last year, fossil fuel companies have spent billions on high-cost plans to extract oil and gas from tar sands, deepwater fields and the Arctic despite the risks to the climate and shareholder returns. – Guardian.

05 Sep
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Thursday newspaper round-up: Working conditions, Uniqlo, Cobham, The We Company

Britain risks turning the clock back to the working conditions of the Victorian age unless unions have greater powers to organise and negotiate, the head of the TUC has said. Frances O’Grady, the TUC’s general secretary, said that without a shift in the balance of power from employers to unions the UK would face rising inequality and insecurity at work. – Guardian.

04 Sep
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Wednesday newspaper round-up: Amazon, Google, Brexit, Rolls-Royce

Amazon has been accused of continuing to underpay corporation tax in the UK despite nearly tripling the payment from a key British division to £14m. Amazon UK Services, the company’s warehouse and logistics operation that employs more than two-thirds of its 27,500-plus UK workforce, said its corporation tax contribution had risen by nearly £10m in the year to December 2018 from the £4. 7m paid in 2017. – Guardian.

03 Sep
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Tuesday newspaper round-up: No-deal Brexit, JCB, BRC retail sales

The EU is considering whether to categorise a no-deal Brexit as a major natural disaster akin to flooding, fires or earthquakes, a move that would release emergency funds to the member states most affected. The plan would allow EU officials to distribute cash from the bloc’s solidarity fund, set up in 2002 in response to that year’s severe weather. About €500m (£450m) can be accessed every year but unspent cash from the previous year is also available if required.