United Kingdom

Barclays preparing to slash thousands of jobs

London-based Barclays is reportedly preparing to slash thousands of jobs at its investment banking division under a strategic review that aims to cut costs and boost profits.

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Spending Still Remains Sluggish In Spite of the Recovering Economy

A warning was issued yesterday by SRC, the Scottish Retail Consortium following a drop in spending and a rise seen in unemployment. The percentage of shoppers going to the stores has decreased by 2. 1% if compared to last year.

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Tesco reports over 6% fall in annual profits

Tesco Plc, the UK's biggest retailer, on Wednesday reported a fall of more than 6 per cent in its annual profits even as its total global sales reported a marginal increase.

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U.K. unemployment rate slips to lowest level in 5 years

Rate of unemployment in the U. K. tumbled to its lowest for five years, triggering speculation that the country's central bank could soon hike interest rates.

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Debenhams stock jumps despite drastic fall in profits

Department store group Debenhams reported a steep decline in profits, but the poor performance could not shake investors' trust in the group.

Debenhams announced that its pre-tax profits slipped 25 per cent year-on-year to £85.2 million in the 26 weeks through 1 March, 2014. The decline was in line with the warning that it had issued in late December.

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