The
final 22 remaining BHS stores finally closed on Sunday 28 August,
ending the department store's 88-year high street history. BHS rose
from humble beginnings as an affordable general store in Brixton to
become one of the stalwarts of British retail. However, a recent
collapse into administration in April saw it become one of Britain's
biggest retail failures since Woolworths. While staff oversaw the
final closing-down sales, former owner Sir Philip Green continued his
holiday in the Mediterranean on board his new £100m yacht. The
retail tycoon has been accused of 'plundering'
the company and described as an 'asset stripper'. The Serious Fraud
Office is currently investigating whether the collapse was caused by
fraud or deception.
Read
more: http://www.bbc.co.uk/news/business-37207481
Go-Ahead,
that company that owns Southern Rail operator Govia Thameslink
Railway has reported a 21 per cent jump in pre-tax profits to £99.8
million, while revenues for the 12 months to July 2 rose 4.5 per cent
to £3.4 billion. The results sent the FTSE 250 company's shares
surging by 8.6 per cent. This is likely to anger commuters who have
suffered months of delays, cancellations and chaos exacerbated by
strikes sparked by an industrial dispute between the RMT union and
GTR.
A
closely watched measure of factory activity swung to a 10-month high
in August from a 41-month low recorded in July, suggesting that
manufacturers quickly shrugged off the shock of the vote to leave the
EU in June. However, there were signs a weaker pound was stoking
inflation and raising the cost of imported materials for UK
factories.
UK
shares rose on Thursday as house builders rallied and mining stocks
rose on recovering metals prices. The blue chip FTSE 100 index .FTSE
was up 0.3 percent at 6,799.70 points by 0903 GMT, slightly
under-performing the wider European market. Data on Wednesday had
shown British house prices rose more than expected in August.
According
to recruitment firm Hays, hiring of new permanent staff in the UK has
stalled following the decision to leave the EU. Alistair Cox, Hays’
chief executive, said some sectors, and particularly businesses based
in London, had been hit particularly hard. However, in its temporary
jobs business, activity levels in the UK had remained broadly at
pre-referendum levels.
Some
of Britain's biggest energy suppliers are within the best at dealing
with customer complaints. A Citizen's Advice league table shows that
the SSE had the lowest level of complaints at 22.5 per 100,000
customers. They were closely followed by EDF, British Gas and E.On in
second, fourth and fifth place respectively. A small supplier, Extra
Energy, was worst of all the 21 firms measured, with a complaints
rate that was 80 times greater than that of SSE.
A
report
by the Social Mobility Commission found that candidates who wear
brown shoes, "loud" ties or ill-fitting suits can fall foul
of "opaque" codes of conduct at investment banks. It said
that firms recruiting for front of office roles tend only to hire
those from a few elite universities and those who 'fit in'. The
report found that, when interviewing candidates for client-facing
roles, managers often select those who fit the traditional image of
an investment banker.
In
Other News:
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Barclays Accused Of Making $3bn Loan To Fund Qatar Share Deal http://news.sky.com/story/barclays-accused-of-making-3bn-8206loan-to-fund-qatar-share-deal-10561352
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Berkeley Group set to drop out of FTSE 100 http://www.bbc.co.uk/news/business-37228778
-
Fund manager backs MP's plan to rein in executive pay https://www.theguardian.com/business/2016/sep/01/fund-manager-backs-mps-plan-to-rein-in-executive-pay
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Peer-to-peer giant Zopa cuts lending rates after interest rate cut http://www.telegraph.co.uk/business/2016/09/01/peer-to-peer-giant-zopa-cuts-lending-rates-after-interest-rate-c/
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