March 18, 2010

Barclaycard to close office in Glasgow with loss of 350 jobs

by Kay Murchie
Barclaycard has today confirmed it is to close its loan centre in Glasgow this summer, which will result in the loss of 350 jobs. The centre, which is located at Academy Park on the city's south side, deals with loans arranged at the point of sale in shops. Neil Radley, managing director of International Consumer Lending at ...

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Hundreds more jobs set to go at the Land Registry

by Kay Murchie
According to The Times, the Land Registry is to axe a further 800 jobs, on top of the 1,500 job losses it announced last October. The Registry, which has 20 offices across the country and covers England and Wales and records and guarantees the ownership of domestic and commercial property, said staff would fall further to 4,200 in ...

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PayPal updates iPhone wallet app

by David Masters
PayPal has launched version 2.0 of its Send Money application for the Apple iPhone. PayPal said the app transforms an iPhone into a wallet. "Today, you leave the house with three critical things: your phone, your wallet and your keys," said Osama Bedier, PayPal's vice president of platform and emerging technology. "PayPal Send Money lets consumers access their wallets through their phones. "Because with PayPal, ...

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British jobs secured as Nissan electric car to be built in Sunderland

by Kay Murchie
Japanese carmaker Nissan has announced it will build its electric car at its Sunderland plant. The announcement will safeguard hundreds of jobs when production begins in 2013 – as part of a £420 million investment from Nissan. Meanwhile, Trevor Mann at Nissan said the Government had played a major part in the carmaker's decision to build ...

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Co-op profits boosted by Somerfield takeover

by Kay Murchie
Britain’s largest mutually-owned retailer, the Co-operative Group, has today posted "record sales and profits" for the 2009 year after its acquisition of Somerfield and its merger with the Britannia building society. The group said underlying operating profits before significant items soared 20% to £473 million over the year, while revenue was £13.7 billion. Meanwhile, the Co-operative group's grocery division, which is ...

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March 16, 2010

Shell steps up cost-cutting programme with further job losses

by Kay Murchie
Oil giant Royal Dutch Shell has today announced it will axe a third of its global petrol station network and shed a further 1,000 jobs by the end of next year, as part of its ongoing cost cutting programme. The Anglo-Dutch firm, which is Britain’s second largest oil company, has been hit by a slump in demand for ...

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Report reveals impact cold weather had on SMEs

by Kay Murchie
A study by Lloyds TSB Commercial has revealed the impact the big freeze had on the UK's small and medium-sized companies (SMEs) earlier this year. According to the research, the coldest winter in decades cost SMEs more than £7 billion. Seven out of ten small firms were severely affected with snow and ice hitting deliveries and resulting in the firms to ...

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Kraft promises no further factory closures

by Kay Murchie
Marc Firestone, vice-president of US food giant, Kraft, has today appeared before MPs on the Business Select Committee and has apologised for the firm’s pledge to keep open Cadbury’s Keynsham factory. Mr Firestone was questioned by MP’s over the company’s takeover of Cadbury. Kraft completed its takeover of the 186-year-old iconic British confectioner on 2 February after a five-month battle. Kraft, which ...

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Kraft VP to be questioned over Cadbury factory closure

by Kay Murchie
Marc Firestone, vice-president of US food giant, Kraft, will appear before MPs on the Business Select Committee today. Mr Firestone will be questioned by MP’s over the company’s takeover of Cadbury. Kraft completed its takeover of the 186-year-old iconic British confectioner on 2 February after a five-month battle. Earlier this month, the US food giant was investigated by the ...

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March 12, 2010

Misery for passengers as BA union unveils strike dates

by Kay Murchie
Talks aimed at averting industrial action at British Airways (BA) collapsed earlier this week and, as a result, Unit has today announced BA cabin crew members will strike for three days from March 20 and for four days from March 27. Last month, BA‘s 12,000 cabin crew members voted to take industrial action over cost-cutting measures, which include a ...

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March 11, 2010

John Lewis staff share £151m bonus pot

by Kay Murchie
John Lewis Partnership, the renowned employee-owned department store, has revealed its staff will share a bonus pot of £151 million. The announcement came after the 146-year-old group said annual pre-tax profits grew 9.7% to £306.6 million. According to John Lewis chairman, Charlie Mayfield, the company's 70,000 staff - or partners, as John Lewis refers to them - will receive payouts equal ...

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O2 sets aside £5m for community projects

by David Masters
Mobile phone operator O2 this week announced a £5 million project offering cash-in-hand grants to young people who plan to make a difference in their local communities. The three year programme, Think Big, will allow 13-25 year olds to apply for a £300 grant to fund projects designed to address local problems as identified by young people. Successful project will be eligible ...

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Possible strike action at BA as talks fail

by Kay Murchie
Talks aimed at averting industrial action at British Airways (BA) have collapsed and failed to reach an agreement. Brendan Barber, general secretary of the Trades Union Congress, said: "Despite a prolonged period of negotiations it has not been possible to reach agreement between BA and Unite." Last month, BA‘s 12,000 cabin crew members voted to take industrial action over cost-cutting ...

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March 10, 2010

BA in talks with union to avert strikes

by Kay Murchie
British Airways (BA) is to resume talks with the Unite union about averting industrial action. BA‘s 12,000 cabin crew members have vowed to take industrial action over cost-cutting measures, which include a pay freeze and a switch to part-time working for thousands of staff. Cabin crew members were scheduled to take 12 days of strike action over the Christmas ...

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March 9, 2010

Vodafone to axe further 375 jobs

by Kay Murchie
Telecoms company Vodafone has announced plans to cut a further 375 jobs as part of its £1 billion cost-cutting programme, undertaken last year by the company as a result of a sharp decline in revenues from its core UK market. The company, which is the world’s largest mobile phone operator, said the job losses would mainly affect back office positions in ...

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March 8, 2010

Kraft facing inquiry over Cadbury factory closure

by Kay Murchie
US food giant, Kraft, is set to be investigated by the City takeover panel about whether it made misleading comments at the time of its takeover of British confectioner, Cadbury. Kraft, which made several hostile bids for Cadbury before shareholders finally agreed to a deal, initially said a takeover of Cadbury would secure UK jobs, while keeping open its Somerdale ...

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Sustainable banks pledge to serve the poor

by David Masters
Eleven industry leading sustainable banks have pledged to deliver banking services to the world's poorest people. The banks made the promise at the second summit of the Global Alliance for Banking on Values (GABV) in Dhaka, capital of Bangladesh, earlier this month. "Fighting poverty will remain the first priority for the banking sector in the foreseeable future," said Fazle Hasan, GABV co-founder. This ...

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48-hour strike starts today for civil servants

by Kay Murchie
Up to 270,000 civil servants are to stage a 48-hour national strike today in a dispute over redundancy pay. The walkout involves job centre staff, tax workers, coastguards, border agency officials, courts staff and driving test examiners. If a satisfactory outcome is not reached then further strike action could take place later this month, according to the Public and Commercial Services ...

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March 7, 2010

Coventry Building Society in merger talks with Stroud & Swindon

by Kay Murchie
According to reports this weekend, Coventry Building Society is in merger talks with its smaller rival, the Stroud & Swindon. The talks follow a series of recent mergers between Britain’s building societies and, should a deal be successful, will bring more consolidation to the mutual sector. The news comes as Coventry, which is the country's third largest building society, ...

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March 5, 2010

John Lewis posts further double-digit rise, Waitrose eyes growth

by Kay Murchie
The John Lewis Partnership, which is seen as a barometer of British retailing, today announced sales grew 14.8% to £50.4 million in the week to 27 February compared with the same period a year ago. The figures at the renowned employee-owned department store suggest consumer spending recovered in February since it was the seventh consecutive double-digit percentage rise. Howard Archer, ...

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