Sainsbury's has finalised an agreement to sell Argos to a private equity consortium for £120 million. The deal will see Argos maintain its presence within Sainsbury's retail outlets and continue to offer Habitat products, alongside participation in the Nectar loyalty scheme.
After 43 consecutive days of increases, the rise in petrol and diesel prices has paused, with motoring organisation RAC anticipating potential reductions in the coming weeks following a drop in wholesale costs.
Supermarket giant Morrisons has announced plans to cut approximately 200 jobs at its Bradford headquarters, representing just under a tenth of its head office workforce. The move is part of a broader restructuring initiative, which includes a significant push towards integrating artificial intelligence and automating manual tasks.
Labour MP Nic Dakin has urged the government to nationalise British Steel by the summer if a long-awaited deal with Chinese owner Jingye fails to materialise, a year after the state intervened to save the Scunthorpe plant. The uncertainty is costing the taxpayer £1.3m daily and concerns are mounting over the long-term viability and national security implications.
