Hopes that the General Motors-owned Vauxhall would be sold to the Canadian company Magna International, saving thousands of jobs, have been thrown into doubt after the German government announced it was in talks with other potential investors. Source:
Axa is gearing up to cut 560 jobs including 120 from its Ipswich office. The company currently has a workforce of around 3,500 people across the UK. Source:
Sir Terry Leahy, the chief executive of Tesco, warned that joblessness was the biggest threat to the current retail climate. Speaking at a retail convention, Leahy explained that although confidence was "seeping back", the risk of further unemployment still lingers. Source:
Home Retail Group, which owns Homebase and Argos, has posted better-than-expected results for the past three months of 2009. Homebase experienced a 3.8 per cent like-for-like increase in sales from 1 March to 30 March, while Argos' 2.8 per cent fall was better than projected. Source:
BT's campaign to charge the BBC and YouTube to send video over its network has hit problems, after its broadband rivals distanced themselves from their campaign. The BBC took umbrage when BT informed the broadcaster it could no longer afford to subsidise them for sending large video files over the web. Source:
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