11 h. ago Burberry to axe 1,700 jobs globally in bid to cut costs as it swings to a loss

Burberry said it was hiking its cost-cutting target to £100million of savings per year by the 2027 financial year.

Economics

13 h. ago Burberry to cut up to 1,700 jobs worldwide after £3 million loss

The luxury fashion brand said it was hiking its cost-cutting target to £100 million of savings by the 2027 financial year.

Economics

13 h. ago Burberry to axe up to 1,700 jobs after falling into loss on luxury slump

Burberry said it had suffered a “challenging first half” and warned of a “difficult macroeconomic backdrop.”

Politics

31 h. ago Is Nissan's Sunderland plant safe? Huge global cost saving plan includes seven car factory closures and 20,000 job cuts

The 'Re:Nissan Plan' announced Tuesday sets a number of stringent cost-saving measures to pull the car maker out of the red. What does it mean for the 6k workforce in Sunderland?

Economics

31 h. ago Residents' anger over council's plans to shut county's libraries

Caerphilly County Borough Council wants to close 10 smaller libraries and develop seven hybrid 'community hubs' in cost-cutting measures

Politics

33 h. ago Thames Water CEO says crisis ‘decades in the making’; Goldman Sachs cuts US recession odds – business live

Rolling coverage of the latest economic and financial newsUK pub chain Marston’s has swung back to a profit in the first half of its financial year, thanks to a busy Christmas and Mother’s Day, as well as a tighter focus on costs.The pub owner reported a pre-tax profit of £19m in the 26 weeks ended on 29 March, compared with a loss of £0.2m in the comparable period in 2024.Their revised forecast reflects a combination of a lower effective tariff rate and the recent easing of financial conditions.We raise our S&P 500 return and earnings forecasts to incorporate lower tariff rates, better economic growth, and less recession risk than we previously expected. Our new 3- and 12-month returns forecasts are +1% and +11%, indicating levels of 5900 and 6500 (previously 5700 and 6200). Continue reading...

Economics

35 h. ago Goldman Sachs cuts US recession odds on tariff optimism; UK wage growth slows as jobs market cools – business live

Rolling coverage of the latest economic and financial newsUK pub chain Marston’s has swung back to a profit in the first half of its financial year, thanks to a busy Christmas and Mother’s Day, as well as a tighter focus on costs.The pub owner reported a pre-tax profit of £19m in the 26 weeks ended on 29 March, compared with a loss of £0.2m in the comparable period in 2024.Their revised forecast reflects a combination of a lower effective tariff rate and the recent easing of financial conditions.We raise our S&P 500 return and earnings forecasts to incorporate lower tariff rates, better economic growth, and less recession risk than we previously expected. Our new 3- and 12-month returns forecasts are +1% and +11%, indicating levels of 5900 and 6500 (previously 5700 and 6200). Continue reading...

Economics

35 h. ago Pub group Marston’s returns to profit after cost cuts and drawing in punters

The company reported a pre-tax profit of £19 million for the six months to March 29.

Economics

38 h. ago Nine ways to cut the cost of hen or stag dos and still have a ball

The average weekend jaunt costs £779 a person in the UK, rising to £1,208 if going abroad. But sendoffs don’t have to be that dearCosts can spiral quickly when you’re planning for a big group and there are lots of ideas flying around. Agree on a realistic budget from the start that works for everyone, and stay within it. Continue reading...

Politics

69 h. ago Trump vows to lower drug prices in the US by up to 80 per cent

President promises to defy industry pressure and dramatically cut cost of pharmaceuticals

Politics

8 d. ago Britain signs £25.5billion India free trade deal that could cut the cost of clothes, shoes and food for consumers and boost exports of booze and cars

An agreement hammered out with Delhi will see the UK lower tariffs on clothes, shoes and food from the subcontinent, in exchange for reciprocal cuts for products including whisky and cars.

Economics

8 d. ago Papa Johns shares huge update after closing 40 high street restaurant branches

The UK boss of the pizza giant has shared that the company is set to return to profit for the first time since 2021, this year with Papa Johns managing director Chris Phylactou recently confirming that it was "no longer losing money”.

Politics

9 d. ago Trump cuts will increase devastation after disasters, expert warns: ‘It is really scary’

Layoffs and funding cuts to Fema and Noaa will hamstring emergency managers, warns professor Samantha MontanoThe Trump administration’s sweeping cuts to disaster management will cost American lives, with hollowed-out agencies unable to accurately predict, prepare for or respond to extreme weather events, earthquakes and pandemics, a leading expert has warned.Samantha Montano, professor of emergency management at Massachusetts Maritime Academy and author of Disasterology: Dispatches from the Frontlines of the Climate Crisis, said the death toll from disasters including hurricanes, tornadoes and water pollution will rise in the US unless Trump backtracks on mass layoffs and funding cuts to key agencies. That includes the Federal Emergency Management Agency (Fema), whose work relies heavily on the National Oceanic and Atmospheric Administration (Noaa), which is also being dismantled. Continue reading...

Events

9 d. ago Trump cuts will lead to more deaths in disasters, expert warns: ‘It is really scary’

Layoffs and funding cuts to Fema and Noaa will impact how they predict and respond to disasters, warns professor Samantha MontanoThe Trump administration’s sweeping cuts to disaster management will cost lives in the US, with hollowed-out agencies unable to accurately predict, prepare for or respond to extreme weather events, earthquakes and pandemics, a leading expert has warned.Samantha Montano, professor of emergency management at Massachusetts Maritime Academy and author of Disasterology: Dispatches from the Frontlines of the Climate Crisis, said the death toll from disasters including hurricanes, tornadoes and water pollution will rise in the US unless Trump backtracks on mass layoffs and funding cuts to key agencies. That includes the Federal Emergency Management Agency (Fema), whose work relies heavily on the National Oceanic and Atmospheric Administration (Noaa), which is also being dismantled. Continue reading...

Events

1 week ago How Man Utd will suffer £26m blow by winning Europa League as Sir Jim Ratcliffe reels over sly condition

The Red Devils have been under drastic cost cutting measures - and yet someone is in line for a Cristiano Ronaldo level reward

Economics

2 w. ago Taylor Wimpey sees lower profit margins amid return of inflation

The house builder said it had seen ‘the return of a low level of build cost inflation’ in the opening months of this year.

Economics

2 w. ago Elon Musk is leaving Trump. Or is he? What’s next for DOGE’s ‘authoritarian’ wrecking ball

The world’s wealthiest man is ‘significantly’ stepping back from the White House, but the cost-cutting force isn’t going anywhere, Alex Woodward reports

Politics

2 w. ago Workers’ rights Bill could lead to cost increases and job cuts, retailers warn

Labour’s proposed Employment Rights Bill includes a right to guaranteed hours, cracking down on zero hour contracts without the offer of work.

Events

2 w. ago Sir Muir Gray and Angela Rippon to speak at The Oxford Longevity Project's Smart Ageing Summit

The innovative Smart Ageing Summit, organised by the not-for-profit Oxford Longevity Project, will return again this summer to explore how we can age smarter and better right now, with Sir Muir Gray, author of Dr. Gray’s Walking Cure and TV'S Angela Rippon amongst key speakers.

Politics

2 w. ago Ayrshire school claims VAT on private school fees is a 'disincentive' to parents

Wellington School in Ayr, Ayrshire's only private school, returned to "a relatively small" profit the year before VAT was introduced on school fees.

Politics