Business

Carpetright losses widen as gross sales fall

Picture copyright Reuters Struggling ground overlaying retailer Carpetright stated half-year losses widened sharply to £11.7m from £zero.6m final time. Identical retailer gross sales fell by 12.7% over the six-month interval however the firm stated there was a “marked sequential enchancment” between the quarters. The corporate additionally stated web debt had dropped from £53m to £12.4m. Earlier this 12 months the corporate agreed a rescue plan, which included the closure of

The pub the place your money is nugatory

Picture copyright Phil Coomes Picture caption Guests to this pub cannot pay for his or her drinks or meals with money Cashless institutions could also be safer and extra handy, however are they extra common with the general public at massive? After yet one more break-in at south London pub the Crown and Anchor, Arber Rozhaja determined sufficient was sufficient. Burglars have been after money mendacity round after lock-up, however

Barclays prospects can now ‘change off’ spending

Picture copyright Getty Pictures Barclays has develop into the primary Excessive Avenue financial institution to permit its prospects to “change off” sure sorts of spending on their debit playing cards. The thought is to assist weak prospects, significantly drawback gamblers, or these in severe debt. Nevertheless, all account holders can now block their very own spending in quite a few classes, together with supermarkets, eating places, pubs and petrol stations.

Push for various to leasehold system

Picture copyright Getty Inventive Growth of the commonhold system of house possession as a substitute for leasehold tenancies has been urged by the federal government’s legislation reform adviser. Commonhold – the place folks personal their houses with out an expiring lease – was launched 14 years in the past, however has been little-used. In the meantime, there have been widespread complaints concerning the leasehold system. The Regulation Fee needs commonhold

Crossrail delay: £1.4bn bailout as autumn 2019 launch delayed

Picture copyright Transport for London Picture caption Crossrail – to be often called the Elizabeth Line – had an authentic finances set at £15.9bn in 2007, which was then lower to £14.8bn in 2010 A £1.4bn bailout has been introduced for Crossrail, as Europe’s largest infrastructure venture is pushed again past its launch date of autumn 2019. London’s £15bn route, to be often called the Elizabeth line, had initially been

Brexit nervousness sends pound to 18-month low

Picture copyright Getty Photos The pound has fallen to an 18-month low in opposition to the greenback amid mounting uncertainty in regards to the phrases of the UK’s exit from the EU. After reviews that Theresa Could is delaying Tuesday’s vote on her Brexit deal, the pound fell to $1.2656, its lowest degree since June 2017. The pound slipped to a few month lows in opposition to the euro, buying

Vijay Mallya needs to be extradited to India, London court docket guidelines

Picture copyright AFP/Getty Indian enterprise tycoon Vijay Mallya needs to be extradited from the UK to India the place he faces fraud expenses, a London court docket has dominated. Mr Mallya attended Westminster Magistrates Court docket for the listening to. Mr Mallya, whose enterprise empire as soon as included Kingfisher beer, left India in March 2016 after defaulting on money owed of greater than $1bn (£785m). He denies “fleeing” from

Domino’s Pizza shares fall 7% amid franchise row

Picture copyright Domino’s Pizza Shares in Domino’s Pizza Group have dived 7% amid stories of an escalating row between the agency and its franchisees. In response to the Sunday Times, 11 of the corporate’s largest franchisees have written to the board threatening to “declare conflict” on the agency until they get an even bigger slice of firm’s earnings. They warned they might cease opening new shops if their calls for

UK financial system slows as automotive gross sales fall

Picture copyright Getty Photos Development within the UK’s financial system has slowed as automotive gross sales fell and the manufacturing sector stalled, the Workplace for Nationwide Statistics (ONS) has stated. The financial system grew by zero.four% within the three months to October, slower than the zero.6% within the three months to September. “GDP development slowed going into the autumn after a powerful summer season, with a softening in providers sector

Vijay Mallya: India’s most controversial businessman?

Picture copyright Reuters Picture caption Vijay Mallya denies the allegations towards him Controversial tycoon Vijay Mallya is ready to study whether or not he can be extradited to India to face costs of monetary crimes. As soon as known as the “King of Good Instances” as a result of his extravagant way of life, the businessman has been embroiled in monetary scandals since 2012 and stands accused of fraud and