News

City watchdog tells banks to uncover ‘dirty money’ with robots and AI

The City watchdog has urged banks to track down criminals with artificial intelligence and machine learning rather than just throwing cash at the problem to “show willing” or appear virtuous. In a message that comes a day after the foreign […]

Tesco admits defeat against Amazon as it closes Tesco Direct, putting 500 jobs at risk

Tesco has announced that it is closing its non-food website Tesco Direct, putting around 500 jobs at risk. The e-commerce website, which sells clothing, homewares and electricals, was launched in 2006 as the supermarket giant’s attempt to take on Amazon […]

Homeserve UK boss to step down as profits jump 25pc

The UK boss of Homeserve, which provides home emergency insurance cover and repairs, is to step down, as the business reports growing success in its overseas markets. Martin Bennett will leave his role later this year having worked for the […]

Shell boss hit by shareholder revolt over £8m pay

The boss of Royal Dutch Shell has suffered a bruising shareholder revolt after more than a quarter of its investors voted against his multi-million euro payout for last year. Ben Van Beurden pocketed €8.9m (£7.8m) for 2017 after trebling the […]

Pets at Home boss vows to return profits to growth

The boss of Pets at Home has vowed to return the business to profitable growth, as the retailer reported a profit slump in the year to March 29. Pets at Home posted a 12.3pc drop in underlying pre-tax profit to […]

Bloomsbury flies high on Harry Potter anniversary

The 20th anniversary of the Harry Potter franchise and a Booker Prize win have helped the publisher Bloomsbury sharply lift its profit forecasts “well ahead” of earlier expectations. Bloomsbury said an “exceptional” performance by its consumer publishing division last year […]

Galliford Try warns bad weather will add to cost of Aberdeen road project

Construction and housing company Galliford Try is facing higher bills to build Aberdeen’s troubled ring road after bad weather caused delays. The construction of the Aberdeen Western Peripheral Route was a joint venture between Galliford Try, Balfour Beatty and Carillion, […]

M&S confirms 14 more shops to be axed taking total to over 100

Marks & Spencer has announced that it will shut another 14 stores affecting 872 jobs as part of a radical restructuring programme that will result in 100 shops closing their doors. The latest tranche of store closures comes as the […]

MPs urge Theresa May to take action over Sainsbury’s contract changes

More than 100 MPs have signed a letter to Theresa May urging her to take action against the “unscrupulous contract changes” at high street retailer Sainsbury’s, which they claim will see “10pc of its staff lose up to £3,000 per […]

DFS boss steps aside after eight years

The boss of furniture seller DFS will stand down in November after eight years at the helm. Ian Filby, who led the retailer through its March 2015 IPO, will be replaced by the company’s chief operating officer Tim Stacey. The […]