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  • UK Brewer Whitbread Appoints Brittain Chief

    Whitbread (LSE: WTB.L - news) , has named Alison Brittain as its new chief executive, succeeding Andy Harrison who confirmed his retirement last month. Brittain who is currently group director of Lloyds’ retail division, will join the company at the beginning of January 2016. Before her current role at Lloyds, Brittain …

  • Buyout Firms Circle Fresh Food Giant Bakkavor

    Some of Europe's biggest private equity firms are circling a supplier of ready-meals to Marks & Spencer (Other OTC: MAKSF - news) and Tesco (Xetra: 852647 - news) even as price deflation hampers food producers' profitability. Sky News understands that PAI Partners and Pamplona Capital are two of the buyout groups which …

  • UK Brewer Whitbread Appoints Brittain Chief

    Whitbread, has named Alison Brittain as its new chief executive. Her appointment takes the number of female FTSE 100 bosses to six. Brittain who is currently group director of Lloyds’ retail division will ...

  • 220515 BREAKING New Whitbread CEO Sky News - 3 hours ago
    UK Brewer Whitbread Appoints Brittain Chief

    Whitbread, has named Alison Brittain as its new chief executive. Her appointment takes the number of female FTSE 100 bosses to six. Brittain who is currently group director of Lloyds’ retail division will ...

  • Severn Trent Sees Pre-tax Profits Fall 50%

    Severn Trent (Other OTC: STRNY - news) , the water and sewage service provider, has seen pre-tax profits fall 53.5% to £148.2m – from £318.9m for 2014. Nik Stanojevic, utilities analyst at Brewin Dolphin (LSE: BRW.L - news) told Sky News the pre-tax profit numbers should not set alarm bells ringing and was unlikely to …

  • Japan Holds Fire On Further Fiscal Stimulus

    The Bank of Japan has decided not to introduce more fiscal stimulus, days after the country showed improved first quarter GDP growth. On Wednesday the government released figures showing Japan's economy, which sank into a brief recession last year, expanded by a better-than-expected 0.6% from the previous quarter. Japan’s …

  • PM Needs To Build Allies In EU Reset Bid

    David Cameron arrives at his first major European summit since the election with a mandate to negotiate. In Riga, the main agenda item of the EU Partnership Summit is the troubled Eastern border not the possible break off of its major power on the West of the bloc. But in the sidelines of this summit, the Prime Minister …

  • Worldpay Hunts New Chair As Allan Steps Down

    John Allan, the new chairman of Tesco (Xetra: 852647 - news) , is to step down from his role at Worldpay as the payments processing giant heads towards one of London's biggest stock market flotations in years. Sky News has learnt that Worldpay will announce on Friday that Mr Allan will vacate the role of chairman, which …

  • Unions Suspend Bank Holiday Rail Strike

    The TSSA rail union has suspended its strike planned for Bank Holiday Monday, after it received a new pay offer from Network Rail. The Transport Salaried Staffs Association, along with the Rail, Maritime and Transport union (RMT), had planned to walk out from 5pm on Monday 25 May. The threat caused a number of train operators …

  • Unions Suspend Bank Holiday Rail Strike

    A planned rail strike has been put on hold after the unions involved suspended their walk-out plans. The Transport Salaried Staffs Association (TSSA) and the Rail, Maritime and Transport union (RMT) had planned to walk out from 5pm on Monday 25 May. But they put these plans on hold this afternoon after receiving a new …

  • Bubble Trouble: Warning Of Prosecco Shortage

    A "very poor" harvest of Prosecco grapes could lead to a global shortage of the sparkling wine, a leading producer has warned. Robert Cremonese, Bisol export manager, told The Drinks Business trade publication that wine merchants, known as negociants, have been bumping up their prices by as much as 50% to take advantage …

  • Phones 4U Debtor EE Targeted By Administrator

    Administrators to Phones 4U, the high street retailer which collapsed last year, are inching towards launching legal action against third party debtors including the UK's biggest mobile phone group. Sky News has learnt that PricewaterhouseCoopers (PwC) has issued a series of so-called "letters before action', setting out …

  • Up To 1,600 Jobs To Be Lost At Magnox Sites

    Up to 1,600 jobs are to be lost at 12 Magnox nuclear power sites by September 2016, the company has said. Eleven of the plants have already shut down and the remaining one in operation - Wylfa on Anglesey in North Wales - is due to stop generating power at the end of the year. Magnox said that it expected between 1,400 …

  • Record Immigration As PM Announces Clampdown

    David Cameron has said he will not abandon his pledge to reduce net migration to the "tens of thousands" despite figures showing the level is at three times his target. It is the highest net migration figure for a calendar year since the International Passenger Survey began in 1970. The Prime Minister repeated that pledge …

  • OECD: Widening Income Gap Holds Back Growth Sky News - Thu, May 21, 2015 14:01 BST
    OECD: Widening Income Gap Holds Back Growth

    The widening gap between haves and have-nots in much of the developed world is holding back economic growth, according to a global study. The Organisation for Economic Cooperation and Development (OECD) said income inequality has not just social and political implications but also economic ones. An increase in income …

  • Kuoni Travel Auction Draws Bid From Endless Sky News - Thu, May 21, 2015 12:26 BST
    Kuoni Travel Auction Draws Bid From Endless

    A British turnaround investor has entered the fray to buy Jules Verne and some of Britain's best-known specialist travel brands. Sky News understands that Endless, a private equity group, was among a clutch of preliminary bidders for the tour operating arm of Kuoni, the Swiss-based company. Kuoni said earlier this year …

  • Tesco Paid New Boss £4m In First Six Months Sky News - Thu, May 21, 2015 12:13 BST
    Tesco Paid New Boss £4m In First Six Months

    Tesco (Xetra: 852647 - news) has paid new chief executive Dave Lewis £4.1m in the six months since luring him from consumer goods group Unilever (NYSE: UL - news) and tasking him with turning around the firm. Mr Lewis received salary of £570,000, benefits of £97,000, pension of £143,000 and £3.32m in lieu of incentive …

  • Booker Agrees To Buy Londis And Budgens For £40m Sky News - Thu, May 21, 2015 11:56 BST
    Booker Agrees To Buy Londis And Budgens For £40m

    The food wholesale‎r Booker has agreed to buy the Londis and Budgens chains in England, Scotland and Wales for £40m from privately owned Musgrave Group. The deal, as reported by Sky News , will strengthen its status as an independent grocery retailer. Booker, Britain's biggest cash-and-carry wholesaler, said on Thursday …

  • Record Number Of EU Immigrants Coming To UK Sky News - Thu, May 21, 2015 11:02 BST
    Record Immigration As PM Announces Clampdown

    A record number of EU immigrants came to the UK in 2014, figures show, delivering a significant blow to David Cameron's pledge to reduce net migration. It has helped boost the net migration figure for 2014 to a record 318,000 - an increase of 109,000 (52%) on 2013. It is the highest net migration figure for a calendar …

  • Mothercare Halves Losses As Online Sales Rise Sky News - Thu, May 21, 2015 10:11 BST
    Mothercare Halves Losses As Online Sales Rise

    Baby clothes retailer Mothercare (LSE: MTC.L - news) has said it halved its losses in the year ending 28 March. The company's new boss, Mark Newton-Jones, took over earlier this year as Mothercare's attempts to fight off strong competition, particularly online, faltered under Simon Calver, who quit in February. Mothercare shares …

  • Net Migration Figures Up By 100,000 In A Year Sky News - Thu, May 21, 2015 09:56 BST
    Record Immigration As PM Announces Clampdown

    Net migration has risen by more than 100,000 in a year hitting 318,000 - a near-record level, figures show. The latest figures from the Office for National Statistics will come as a significant blow to David Cameron's continued pledge to reduce net migration to the tens of thousands. The rise of 109,000 in a year is described …

  • Wages Of Illegal Workers To Be Seized Sky News - Thu, May 21, 2015 09:24 BST
    Net Migration Figures Up By 100,000 In A Year

    David Cameron will say the promise is part of a wider crackdown on immigration - which will particularly focus on people who do not have permission to live in Britain. He will also use one of his first major speeches since the election to reaffirm his ambition to bring net migration down to the tens of thousands despite …

  • Cost Savings Help Royal Mail Profit Rise Sky News - Thu, May 21, 2015 09:04 BST
    Cost Savings Help Royal Mail Profit Rise

    Royal Mail (LSE: RMG.L - news) said adjusted operating profit before transformation costs was £740m for the year to 29 March, up 6% on a year ago. Including pensions accounting and other one-off items profit on a reported basis fell 8.7% on 2014 to £611m, on group revenue up 1%. Chief executive Moya Greene said operating …

  • Hg To Buy Effects Firm The Foundry For £200m Sky News - Thu, May 21, 2015 06:26 BST
    Hg To Buy Effects Firm The Foundry For £200m

    The British visual effects firm which has worked on Hollywood blockbusters such as Gravity and Interstellar will be sold on Thursday in a deal valuing it at £200m. Sky News has learnt that The Foundry, which offers post-production and other services to film and television studios, is being bought by Hg Capital, a London-based …

  • Payment Trends Mark 'Slow Death Of Cash' Sky News - Thu, May 21, 2015 04:37 BST
    Payment Trends Mark 'Slow Death Of Cash'

    The latest figures show £19.8bn was spent using cards, online payments or cheques in 2014 while £18.3bn was paid in cash. Over a period of half-an-hour at the Asda Superstore in Wytheshawe, Greater Manchester, 11 out of 18 customers at one checkout paid for their shopping using cards, while just seven paid in cash. Shopper …

  • Airbus UK Chief Warns Over 'Brexit' Threat Sky News - Thu, May 21, 2015 01:23 BST
    Airbus UK Chief Warns Over 'Brexit' Threat

    One of the largest foreign manufacturing employers‎ in the UK has warned that future investment could be jeopardised by a British withdrawal from the European Union. Paul Kahn, the ‎UK president of Airbus Group (Swiss: AIR.SW - news) , said on Wednesday that a so-called "Brexit" risked damaging the UK as a destination …

  • Airbus Chief Warns On Brexit Threat Sky News - Thu, May 21, 2015 01:22 BST
    Airbus UK Chief Warns Over 'Brexit' Threat

    One of the largest foreign manufacturing employers‎ in the UK has warned that future investment could be jeopardised by a British withdrawal from the European Union. Paul Kahn, the ‎UK president of Airbus Group (Swiss: AIR.SW - news) , said on Wednesday that a so-called "Brexit" risked damaging the UK as a destination …

  • Booker To Buy Londis and Budgens Chains Sky News - Wed, May 20, 2015 23:39 BST
    Booker Agrees To Buy Londis And Budgens For £40m

    The food wholesale‎r Booker is to buy the Londis and Budgens chains in England, Scotland and Wales in a deal that will strengthen its status as an independent grocery retailer. Sky News has learnt that Booker will announce a £40m deal on Thursday to buy the two so-called symbol groups from Musgrave Group, an Irish company. …

  • Osborne Vows To Boost Britain's Productivity Sky News - Wed, May 20, 2015 22:11 BST
    Osborne Vows To Boost Britain's Productivity

    George Osborne has told business leaders he will demand further spending cuts and unveil plans for the biggest ever sell-off of public assets as he bids to boost Britain's productivity. Mr Osborne said: "When it comes to saving money, we all know that the more you can do early, the smoother the ride. In a drive to improve …

  • Bosses Told To 'Turn Up Volume' On EU Support Sky News - Wed, May 20, 2015 21:38 BST
    PM Needs To Build Allies In EU Reset Bid

    British business leaders are being urged to "turn up the volume" in support of remaining in the European Union. CBI president Sir Mike Rake says it is time to reform the EU at the business group's annual dinner in London. His call comes as the new Government presses ahead with its promised in-out referendum.

  • Profits Soar At Energy Firm SSE After Bill Hike Sky News - Wed, May 20, 2015 18:56 BST
    Profits Soar At Energy Firm SSE After Bill Hike

    The firm's annual results report said the huge rise in earnings "followed an increase in household electricity and gas tariffs in November 2013". "With the threat of a Labour price freeze now off the table, the big six have officially run out of excuses for not making proper, double-digit reductions to customers' bills, …

  • Banks Fined Nearly £4bn Over Exchange Abuses Sky News - Wed, May 20, 2015 18:10 BST
    Banks Fined Nearly £4bn Over Exchange Abuses

    Barclays (LSE: BARC.L - news) , Royal Bank of Scotland (LSE: RBS.L - news) and three other banks have been fined almost £4bn over the manipulation of foreign exchange and currency rates. Four of the institutions - JPMorgan Chase, Citigroup (NYSE: C - news) , Barclays and RBS - have agreed to plead guilty to US criminal …

  • Streaming Giant Spotify Branches Out Into Video Sky News - Wed, May 20, 2015 17:37 BST
    Streaming Giant Spotify Branches Out Into Video

    Spotify will now offer video, alongside podcasts, radio and news, the music streaming company has announced. At an event in New York, Spotify demonstrated the "video capsules" that will run on the new version of the platform, from companies including Vice News, Comedy Central and ESPN. Spotify CEO Daniel Ek described …

  • Barclays And RBS Fined Over Forex Abuses Sky News - Wed, May 20, 2015 16:00 BST
    Banks Fined Nearly £4bn Over Exchange Abuses

    Barclays (LSE: BARC.L - news) , Royal Bank of Scotland (LSE: RBS.L - news) and three other banks have been fined almost £4bn over the manipulation of foreign exchange and currency rates. Four of the institutions - JPMorgan Chase, Citigroup (NYSE: C - news) , Barclays and RBS - agreed to plead guilty to US criminal …

  • Barclays And RBS Fined £4bn Over Forex Abuses Sky News - Wed, May 20, 2015 15:37 BST
    Banks Fined Nearly £4bn Over Exchange Abuses

    Barclays, Royal Bank of Scotland and three US banks have been fined almost £4bn over the manipulation of foreign exchange rates. Four of the institutions - JPMorgan Chase, Citigroup, Barclays and RBS - ...

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