Business

Newcastle United and Sports Direct chief, Mike Ashley, has sacked a number of senior management at the department store he recently bought for £90m. In a one-sentence statement, Sports Direct said it had "dismissed the former directors and senior management of House of Fraser". Those departing the chain will include chief executive Alex Williamson. Mr Ashley has said he will turn the department store chain into the "Harrods of the High Street" and will try and keep most of its stores...

If Michael Gove is serious about taking back control he must put England’s water back in public hands, says GMB Union Shock findings show that almost three quarters of England’s water industry is currently owned from overseas. At least 71% of shares in England’s nine privatised water companies are owned by organisations from overseas including the super-rich, banks, hedge funds, foreign governments and businesses based in tax havens. The revelations showed the need to end the scandal of water privatisation...

More than a quarter of British workers say they have experienced discrimination in the workplace, research has revealed. The study found prejudice towards gender, race and age is still commonplace in UK businesses, but a youth-driven revolution could be underway to counter it. Generation Z (under 25s) are twice as likely to believe employers should do more to promote inclusion than Baby Boomers (over 55s). And they are twice as likely to question the status quo on equal opportunities too,...

Forget the marginalised revolutionaries that first captured the country’s imagination, this is about a supermarket-dominating, tap conquering, marketed to the nines mega brew.

Shadow Chancellor John McDonnell told the Labour Conference he would end the profiteering of privatised water and set up a new publicly owned water system that puts control back in the hands of the people. GMB, the union for water industry workers, has welcomed an announcement. The Union is running the campaign to Take Back the Tap and return the water industry into public hands  The campaign is supported by six pledges to water industry workers, including investment, health and safety,...

B&M staff was caught selling the weapons to teenagers as young 14 in areas of east London where knife crime is rampant

Danske Bank Chief Executive Thomas Borgen has quit after he was embroiled in a huge money-laundering scam. An investigation into the bank’s dealings discovered a potential £177bn fiddle through its Estonian operation,between 2007 and 2015. The Danish bank said many of those payments were suspicious. Mr Borgen said: "Even though the investigation conducted by the external law firm concludes that I have lived up to my legal obligations, I believe that it is best for all parties that I resign."...

Economists at the British Chambers of Commerce (BCC) say growth will slow to 1.1 per cent this year. The influential business lobby group is also highly concerned of the impact of a no-deal Brexit. Shockingly, this would be the slowest rate of growth since the global financial crisis of 2009. The previous prediction was 1.3 per cent, still a sluggish growth rate for the UK economy. Adam Marshall, the group’s director general, said the UK economy is slowing to a...

House of Fraser customers are up in arms after refunds they were promised will now not be paid. Mike Ashley, Sports Direct founder and Newcastle United owner, bought House of Fraser for £90m from administrators, in August. Customers were told that they would receive refunds for undelivered goods. However, now customers will have to join other creditors on a long list of people who are chasing money from the administrator of House of Fraser, EY. A spokesperson for House of Fraser said:...