Today's letter from the Editor
Today's Matrices
iJobs Job Widget
iJobs General

Recruitment Genius: Technical Author / Multimedia Writer

Negotiable: Recruitment Genius: This recognized leader in providing software s...

Recruitment Genius: Clinical Lead / RGN

£40000 - £42000 per annum: Recruitment Genius: This is an exciting opportunity...

Recruitment Genius: IT Sales Consultant

£35000 - £40000 per annum: Recruitment Genius: This IT support company has a n...

Recruitment Genius: Works Engineer

Negotiable: Recruitment Genius: A works engineer is required in a progressive ...

The Business Matrix: Monday 28 November 2011


Thomas Cook to cut 1,000 jobs

Thomas Cook, the troubled holiday firm, is to poised to start the axing of at least 1,000 jobs and shake up its boardroom, following a rescue injection of £200m at the weekend. The tour operator is expected to exit 200 of its 1,100 high-street shops. Thomas Cook needs to slash its debt of £900m after trading worsened following three profit warnings.

Lloyds may offer £6m 'golden hello'

Lloyds Banking Group is considering handing a possible "golden hello" of £6m to George Culmer to release its incoming finance director early from his 12-month notice period at the insurer RSA. Sir Win Bischoff, the chairman of Lloyds, has started discussions with his opposite number at RSA, John Napier, about Mr Culmer.

Sales fall again at John Lewis chain

John Lewis sent a chill down the high street yesterday, posting another decline in sales for last week, as the unseasonably warm weather continues to hit pre-Christmas trading. The department store chain said its total sales fell by 1.2 per cent to £98.7m for the week ending on Saturday, after a 3.3 per cent fall the previous week. But its latest online sales rose 18 per cent.

Chancellor urged to act on tax cuts

British companies will today call on the Chancellor to use the autumn statement to focus on slashing taxes to boost growth. More than half of the tax professionals surveyed by accountants PwC say the tax regime needs to be made more attractive, but many admitted the biggest barrier to growth was the turmoil in the global economy.

Goldman talks to Peacocks on debt

The investment bank Goldman Sachs is in talks to become the biggest shareholder in Peacocks, the debt-laden fashion chain. Peacocks is labouring under debts of £240m and falling sales, as consumers cut back. Goldman Sachs has significant exposure to Peacocks' debt and is a small shareholder. The bank plans to write off some of the retailer's debt in return for a bigger stake.

Unemployment set to jump in 2012

The number of unemployed people in the UK could reach almost three million in 2012, as the downturn affects private firms' ability to create jobs. The Office for Budget Responsibility is expected on Tuesday to increase its forecast unemployment rate for next year to a peak of between 8.5 and nine per cent.


A third-quarter trading update from B&Q owner Kingfisher on Friday will underline the struggle faced by retailers as it is expected to report a 1.5 per cent decline in UK sales. The firm has seen them come under pressure as the economic outlook deteriorates but managed to keep its head above water through boosting profit margins.

Topps Tiles

Topps Tiles is set to report another fall in annual profits on Tuesday as it struggles against a decline in consumer spending. The City expects profits at the UK's largest tile and wood flooring specialist to fall 19 per cent to £13m. The homewares market has been particularly badly hit by the squeeze on domestic budgets.


Sage will reveal whether the recent slowdown in global growth has derailed its recovery when it provides full-year results on Wednesday. The company, which sells software to small and medium-sized businesses, reported a 4 per cent rise in half-year revenues earlier in the year as its customers grew in confidence.


Housebuilder Berkeley's focus on more affluent locations in London and the South-East will help it buck the gloom surrounding the property market when it reports half-year results on Friday. The group is expected to benefit from a strong pipeline of building projects after snapping up land at bargain basement prices following the recession.

Latest stories from i100
Career Services

Day In a Page

Isis profits from destruction of antiquities by selling relics to dealers - and then blowing up the buildings they come from to conceal the evidence of looting

How Isis profits from destruction of antiquities

Robert Fisk on the terrorist group's manipulation of the market to increase the price of artefacts
Labour leadership: Andy Burnham urges Jeremy Corbyn voters to think again in last-minute plea

'If we lose touch we’ll end up with two decades of the Tories'

In an exclusive interview, Andy Burnham urges Jeremy Corbyn voters to think again in last-minute plea
Tunisia fears its Arab Spring could be reversed as the new regime becomes as intolerant of dissent as its predecessor

The Arab Spring reversed

Tunisian protesters fear that a new law will whitewash corrupt businessmen and officials, but they are finding that the new regime is becoming as intolerant of dissent as its predecessor
King Arthur: Legendary figure was real and lived most of his life in Strathclyde, academic claims

Academic claims King Arthur was real - and reveals where he lived

Dr Andrew Breeze says the legendary figure did exist – but was a general, not a king
Who is Oliver Bonas and how has he captured middle-class hearts?

Who is Oliver Bonas?

It's the first high-street store to pay its staff the living wage, and it saw out the recession in style
Earth has 'lost more than half its trees' since humans first started cutting them down

Axe-wielding Man fells half the world’s trees – leaving us just 422 each

However, the number of trees may be eight times higher than previously thought
60 years of Scalextric: Model cars are now stuffed with as much tech as real ones

60 years of Scalextric

Model cars are now stuffed with as much tech as real ones
Theme parks continue to draw in thrill-seekers despite the risks - so why are we so addicted?

Why are we addicted to theme parks?

Now that Banksy has unveiled his own dystopian version, Christopher Beanland considers the ups and downs of our endless quest for amusement
Tourism in Iran: The country will soon be opening up again after years of isolation

Iran is opening up again to tourists

After years of isolation, Iran is reopening its embassies abroad. Soon, there'll be the chance for the adventurous to holiday there
10 best PS4 games

10 best PS4 games

Can’t wait for the new round of blockbusters due out this autumn? We played through last year’s offering
Transfer window: Ten things we learnt

Ten things we learnt from the transfer window

Record-breaking spending shows FFP restraint no longer applies
Migrant crisis: UN official Philippe Douste-Blazy reveals the harrowing sights he encountered among refugees arriving on Lampedusa

‘Can we really just turn away?’

Dead bodies, men drowning, women miscarrying – a senior UN figure on the horrors he has witnessed among migrants arriving on Lampedusa, and urges politicians not to underestimate our caring nature
Nine of Syria and Iraq's 10 world heritage sites are in danger as Isis ravages centuries of history

Nine of Syria and Iraq's 10 world heritage sites are in danger...

... and not just because of Isis vandalism
Girl on a Plane: An exclusive extract of the novelisation inspired by the 1970 Palestinian fighters hijack

Girl on a Plane

An exclusive extract of the novelisation inspired by the 1970 Palestinian fighters hijack
Why Frederick Forsyth's spying days could spell disaster for today's journalists

Why Frederick Forsyth's spying days could spell disaster for today's journalists

The author of 'The Day of the Jackal' has revealed he spied for MI6 while a foreign correspondent