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It has been reported that consumers are using their contactless cards more, having overtaken the use of coins and notes. Figures by the Payments Council have shown that cash being used by businesses, consumers and financial organisations has dropped to 48% and the other 52% is electronic transactions. It has also...
Airbus has said it will reconsider investment in the UK if Britain leaves the European Union.President of Airbus UK, Paul Kahn said Britain must compete for international investment."The best way to guarantee this is by remaining part of the EU," he said.Airbus is the world's second-largest plane maker and employs...
Luxury retailer Burberry has seen profits increase for the year to March 31st, however it has decreased its profit expectations for the 2016 financial year due to foreign exchange movements.Figures show that adjusted pre-tax profit increased by 7% to £456 million, but profits went down 1% after a £38 million...
American global coffee company Starbucks has announced a partnership with music streaming service Spotify.The coffee giant stopped selling physical music formats three months prior to this announcement, which links customers to exclusive content. Loyalty members will have access to Starbucks music on Spotify and among other benefits will have input on...
Marks & Spencer has reported its first rise in underlying pre-tax profit under its chief executive Marc Bolland. The results are the first rise in profits in four years and come as the group’s troubled general merchandise division started to show signs of a turnaround. In the year to March...
Supermarket Asda has reported its worst quarterly sales in over five years, in a slump that outstrips rivals Tesco, Sainsbury’s and Morrisons. The 3.9% fall in sales is the Walmart-owned grocer’s third successive quarterly fall. However, Asda’s CEO Andy Clarke said that its strategy to breakaway from the prices offered...
Fashion retailer New Look is to be bought by South Africa’s fourth richest man, Christo Wiese in a £1.9 billion deal. The transaction comes only one month after his £1.3 billion purchase of fitness chain Virgin Active.New Look, is ending plans for a stock market floatation and will sell up...
Popular fashion retailer H&M has announced that it will be working in partnership with The Parisian house of Balmain to launch accessories and men and women’s clothing in autumn, which will be under the creative watch of Olivier Rousteing.The first items of clothing were shown off yesterday at The Billboard...
It has been reported that Britain’s leading music retailer HMV is planning to introduce a website to allow customers to buy games and CDs online for the first time.The company, which collapsed in 2013 with £170 million worth of debt and the threat of 223 shops closing, was saved within...
Travel firm Thomas Cook has issued an apology to the parents of Christianne and Robert Shepherd who died from carbon monoxide poisoning in Corfu in 2006. Peter Frankhauser, the chief executive of Thomas Cook, sent a letter of apology to the parents, although Sharon Wood and Neil Shepherd said that they...
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