Here are the top business, market, and economic stories you should be watching today in the UK, Europe, and around the world:
Investec axes jobs
International banking giant Investec (INVP.L) said today that it’s planning to cut 210 jobs in London to “simplify and focus the business.” The statement was made as part of its trading announcement for the first half of the year.
The business added that a challenging economic backdrop, primarily caused by COVID-19, resulted in reduced economic activity and increased market volatility for the business.
Adjusted operating profit for the six months to the end of September was expected to be between 50 and 60 per cent behind the £175.6m ($228m) posted in the same period last year, the company said.
Retail sales registered their fourth month in a row of growth in August, the Office for National Statistics (ONS) said on Friday.