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Rolls-Royce plans to cut over 200 jobs in Scotland

Rolls-Royce has announced plans to cut more than 200 jobs in Scotland. Credit: Anthony Devlin / PA ARCHIVE IMAGES

Rolls-Royce plants in Scotland will be losing more than 200 jobs under plans announced by the engineering giant for a worldwide cutback.

The company said 187 posts would go at its facility in Inchinnan, Renfrewshire, and another 31 jobs would be lost from its East Kilbride plant.

The cuts follow an announcement by the firm in November last year that 2,600 jobs will be cut worldwide over an 18-month period as part of restructuring of its aerospace division.

A Rolls-Royce spokeswoman said: "We have identified a requirement to reduce the headcount at our Inchinnan manufacturing facilities by approximately 90 during 2015 and 97 during 2016.

"We have also identified a requirement to reduce the headcount at our East Kilbride facility by 31 during 2015.

"It is never an easy decision to propose reductions in our workforce and we will look to meet this requirement by voluntary means wherever possible. We will also explore all mitigation including redeployment to other sites and are offering full support to employees who are impacted by the changes."

Google loses bid to prevent consumers suing it in the UK

Google has lost a Court of Appeal bid to prevent British consumers having the right to sue it in the UK.

Google has lost its Court of Appeal bid. Credit: Chris Ison/PA Wir

A group known as Safari Users Against Google's Secret Tracking want to take legal action in the English courts over the internet giant's Apple Safari internet browser.

They accuse Google of bypassing security settings in order to track their online browsing and to target them with personalised advertisements.

UK raises a further £500 million from Lloyds shares sale

The Government has raised a further £500 million from the sale of shares in Lloyds Banking Group, George Osborne has announced.

The Chancellor tweeted:

The size of the stake owned by British taxpayers in Lloyds has fallen below 22%, according to a regulatory filing.

When Lloyds was rescued in 2009 the Government took a 40% percent stake.


London taxi firm to build £250m factory in Coventry

Production of TX4 London Taxi at The London Taxi Company, Coventry Credit: PA

The firm that makes the iconic London taxi is to build a new £250 million factory, creating up to 1,000 jobs.

Chinese giant Geely said the new state-of the-art research, development and assembly facility for the London Taxi Company would be built in Coventry.

The group said it was preparing for the introduction of the next generation electric and ultra-low emission London Black Cab. mf 260607 MAR 15

Heinz to merge with Kraft Foods

Heinz is set to buy Kraft Foods Group, creating what the companies say will be the third-largest food company in North America.

The deal was engineered by Heinz's owner, the Brazilian investment firm 3G Capital, and billionaire investor Warren Buffett's Berkshire Hathaway.

Current Heinz shareholders will own 51% of the combined company. Credit: REUTERS/Phil Noble

Kraft shareholders will receive stock in the combined company and a special cash dividend of approximately $10 billion dollars (£6.7 billion), or $16.50 per share (£11).

Current Heinz shareholders will own 51% of the combined company, with Kraft shareholders owning a 49% stake.

Mobile phone firm O2 to be sold for £10.25 billion

A deal to buy O2 has been reached Credit: PA

A deal has been reached by Hong Kong-based Hutchison Whampoa to buy mobile phone company, O2.

It will be sold for £10.25 billion.

HWL already owns the Three network and in acquiring O2 will become the UK's biggest mobile operator ahead of EE, itself recently the subject of a takeover.

Tesco faces huge compensation claim from shareholders

Tesco admitted in September 2014 it had overstated its profits. Credit: PA

Tesco is facing a multi-million pound compensation claim from shareholders over last year's accounts scandal.

The supermarket giant’s announcement in September that it materially overstated its profits caused a crash in its share value.

A non-profit organisation under the name Tesco Shareholders Claims Limited said:

A permanent destruction of value has occurred and had the accounting irregularities not taken place the share price, and value of the company, would today be materially higher.

TSC expects the claim to be in the region of 50p-70p per share. Tesco Plc has in excess of 8 billion shares listed.

– Tesco Shareholders Claims Limited
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