UK Business News

British Land have confirmed the sale of a 50% stake in its City of London office complex Broadgate, to private equity group Blackstone for a reported £77million in cash. It has also off loaded half of the £1.9bn debt associated with Broadgate to Blackstone.
The much anticipated deal slashed the British Land debt and has opened [...]

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Arthur Ryan the founder of the Primark chain in the UK, will be stepping down from his role as chief executive of the company after forty years at the helm.
Over the last ten years Primark has become increasingly popular for its ‘throw away fashion’ clothing, using the stack ‘em high,  sell ‘em cheap philosophy that [...]

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The deal struck with Canadian car parts manufacturer Magna with General Motors, to buy the European Vauxhall and Opel units, is likely to come at a higher price than anticipated for the companies workers across Europe.
That is all except Germany where  job losses are in line with what was first estimated when Magna made their [...]

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Business secretary Peter Mandelson has called upon the former bosses of carmaker Rover MG to apologise for milking the profits from the business following the news that they took pay and pensions worth £42million, shared by five executives.
The government has said that the former directors known as the ‘Phoenix Four‘ plus chief executive Kevin Howe, [...]

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The Uk’s second biggest supermarket group, Asda, have announced that they will be taking on an extra 10,000 temporary staff for the anticipated Christmas and New Year shopping rush. The good employment news comes a week after rival group Sainsbury announced the recruitment of its holiday staff.
Asda already employ a 10,000 strong ’seasonal squad’ who [...]

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