UK Business News

Bank of England’s David Blanchflower has conceded that talk of the economy recovering sharply at the end of this year is pretty much pie in the sky, despite the bright predictions made a month ago.
Blanchflower warned of further increases in unemployment, while speaking at a parliamentary meeting today and urged the government to take action [...]

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Property tycoon Ardeshir Naghshineh the largest single shareholder in Woolworths, has called upon the company to look at other options before any serious consideration of a buyout from Hilco.
Hilco have allegedly made Woolworths a token offer of £1 for the business, as posted here last week.
Woolworths have over 800 retail outlets in the UK, but [...]

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Wedding gift firm Wrapit has blamed the HSBC bank for putting it’s business in administration, despite owing the bank around £3.5million.
Wrapit was formed in 2000 by former fashion journalist Pepita Diamand and trades from fifteen showrooms and a website, the administration puts 100 jobs on the line.
Despite the protestations of Peter Gelardi the head of Wrapit, claiming [...]

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