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Monday, November 11, 2019

There Is No Recession!

Wednesday, November 06, 2019

M&S Proifts Fall 17%

The pre-tax profits of M&S tumbled by 17% to £176.5m on total sales down 2.1% to £4.86bn.

Like-for-like sales in clothing and home fell by 5.5% during the six months to 30 September, worse than the expected 4.3% drop.

However, like-for-like sales in food grew by 0.9%, ahead of a forecast 0.3% rise.

M&S need to consider spinning off their food business into a stand alone business, and facing the reality that they are no longer a clothing retailer.

Monday, November 04, 2019

KPMG To Cut 10% of Its Partners

As further evidence of cost cutting in KPMG, The Telegraph reports that KPMG is set to cut a tenth of its UK partners in the run up to Christmas as the firm steps up an overhaul of its business operations. 

The cuts are the result of performance reviews involving of some of KPMG’s senior team, and follow on from reports that KPMG's private members' club will be closed.

Monday, October 28, 2019

KPMG To Shut Private Members' Club

KPMG appears to be facing a financial squeeze, as it is preparing to shut down its private members’ club in Mayfair and move staff to Reading as part of efforts to trim £100m in costs.

The Telegraph reports that KPMG is exploring plans to close the five-storey townhouse at 20 Grosvenor Street, which boasts a rooftop terrace, restaurant and private meeting rooms.

KPMG will also transfer most of its marketing department from Canary Wharf to Reading.

It is understood that around 50 roles were placed at risk of redundancy as a result of the restructure.

Known as Number Twenty, the facility was set up only four years ago to entertain clients.

Friday, October 25, 2019

Brexit 50p Piece Production Nixed

In the event any of these coins have already gone into circulation, look out for them they will be worth a mint!

Monday, October 21, 2019

The Trade War Continues

I thought Trump said they were ready to do a deal?

Tuesday, October 15, 2019

Mark Carney Displays "Remarkable" Foresight!

Business Committee Sticking The Knife Into Thomas Cook Board

The Board saddled the company with debts that it could not afford.

Monday, October 14, 2019

Happy 50th Birthday To The 50p Piece

Wednesday, October 09, 2019

Hays To Buy All 555 Thomas Cook Stores

ECB Ignores Risk of No Deal Brexit

Thursday, October 03, 2019

Brexit Uncertainty Is Fucking Up The Economy

Monday, September 23, 2019

Thomas Cook Ceases Trading

As per the BBC:
"Thomas Cook has collapsed after last-minute negotiations aimed at saving the 178-year-old holiday firm failed.

The UK Civil Aviation Authority (CAA) said the tour operator had "ceased trading with immediate effect".

It has also triggered the biggest ever peacetime repatriation, aimed at bringing more than 150,000 British holidaymakers home.

Peter Fankhauser, Thomas Cook's chief executive, said the firm's collapse was a "matter of profound regret".

Commenting as the company entered compulsory liquidation, Mr Fankhauser also apologised to the firm's "millions of customers, and thousands of employees".

The tour operator's failure puts 22,000 jobs at risk worldwide, including 9,000 in the UK."
My sympathies to those who have lost their jobs.

Wednesday, September 18, 2019

Lagarde Wins Vote To head ECB - She Was The Only Candidate

Wednesday, September 11, 2019

Trump Calls For Negative Interest Rates - #Volfefe