Investec cuts jobs, retail rebounds, pound gains

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.

Spending in

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Heathrow CEO warns of jobs ‘cliff edge’, UK GDP rebounds, and stocks cautious



a man and a woman holding a sign: Passengers Charlotte and Frank, arrive at Heathrow Airport as they return from Mykonos in Greece, after the British Government added the island to the coronavirus quarantine list, at Heathrow, London, Tuesday Sept. 8, 2020. From early Wednesday, people arriving from several Greek islands will need to self-isolate for 14-days, but mainland Greece will maintain its quarantine-exemption, according to Britain's Transport Secretary Grant Shapps, who said that England is to start applying a regional approach to its coronavirus quarantine policy. (Yui Mok/PA via AP)


Passengers Charlotte and Frank, arrive at Heathrow Airport as they return from Mykonos in Greece, after the British Government added the island to the coronavirus quarantine list, at Heathrow, London, Tuesday Sept. 8, 2020. From early Wednesday, people arriving from several Greek islands will need to self-isolate for 14-days, but mainland Greece will maintain its quarantine-exemption, according to Britain’s Transport Secretary Grant Shapps, who said that England is to start applying a regional approach to its coronavirus quarantine policy. (Yui Mok/PA via AP)

Here are the top business, market, and economic stories you should be watching today in the UK, Europe, and abroad:

Heathrow CEO warns of jobs ‘cliff edge’

The chief executive of Heathrow has warned that thousands of jobs could be lost when the government’s furlough scheme comes to an end next month.

“Furlough is going to be a cliff edge when that comes to an end at

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