Telecoms giant BT is to axe 4,000 jobs worldwide as part of a global restructuring.
BT made the announcement, which will affect "back office and managerial roles", as it revealed fourth quarter results, which saw pre-tax profit fall 19% to £440 million.
It follows an accounting scandal at the telecoms giant's Italian division, which has resulted in BT boss Gavin Patterson being stripped of his annual bonus.
The firm said Mr Patterson will receive a total pay packet of £1.3m for 2016/17, down from £5.3m the previous year.
He claims in a letter to Lloyds Banking Group that he lost tens of millions of pounds and suffered ‘deep distress and public humiliation’.Read the full story ›
When Ed Miliband suggested an energy cap the Conservatives panned it, calling it dangerous and from a Marxist universe. So why change now?Read the full story ›
Metals group Liberty House is to create 300 jobs and make multi-million pound investments to secure the future of five steel plants in the UK.
It comes as the company formally completed the £100m deal to acquire the Speciality Steels division of Tata Steel UK; protecting the jobs of 1,700 existing staff at several sites across Britain.
The company announced expansion plans expected to generate an additional 300 production jobs in the business.
The positive results come after Chancellor Philip Hammond admitted the government is prepared to sell its stake at a loss to the taxpayer.Read the full story ›
The insurance broker says it is reviewing 84 branches as 90% of its customers now purchase policies online.Read the full story ›
Almost 300 jobs will be lost as the confectionery giant takes production of one of its leading biscuits abroad.Read the full story ›
Workers are to vote on industrial action as they fight to save their jobs and the future of the South Wales plant, ITV News has learned.Read the full story ›
The brand, made famous in Sex and the City, is expected to be sold for over £700 million.Read the full story ›
Despite other formats coming onto the market over the years, such as the CD then the download, sales of vinyl continue to thrive.Read the full story ›