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Adult skills giant Learndirect in rescue deal

Adult skills giant Learndirect in rescue deal

Business
A little-known education entrepreneur has swooped to seal an audacious takeover of Learndirect, Brit‎ain's biggest provider of apprenticeships and adult training services. Sky News can reveal that Dimensions Training Solutions (DTS) struck a deal on Saturday to acquire Learndirect in a deal which will preserve roughly 1,000 jobs and the training courses of thousands more people.The ‎acquisition will be transformational for DTS, which is part of a wider group owned by Stonebridge Colleges, a mini-conglomerate in the further education sector.It will bring to an end months of uncertainty about Learndirect's future, with doubts about its survival prospects exacerbated by an adverse Ofsted evaluation of part of its business but which were originally triggered by govern...
Trump threatens 20% tariff on all European cars

Trump threatens 20% tariff on all European cars

Business
Donald Trump has threatened a 20% tariff on all European cars if the EU does not remove trade barriers introduced on Friday. His threat - which if carried out would represent a serious escalation of the burgeoning trade war - comes hours after new EU tariffs on goods imported from the US came into force. Based on the Tariffs and Trade Barriers long placed on the U.S. and it great companies and workers by the European Union, if these Tariffs and Barriers are not soon broken down and removed, we will be placing a 20% Tariff on all of their cars coming into the U.S. Build them here!— Donald J. Trump (@realDonaldTrump) June 22, 2018 In response to Mr Trump's tariffs on European steel and aluminium, the EU has imposed tariffs on ...
BMW joins Airbus in Brexit warning

BMW joins Airbus in Brexit warning

Business
Media playback is unsupported on your device The car giant BMW has followed plane-maker Airbus in warning about the consequences of Brexit uncertainty.BMW UK boss Ian Robertson says clarity is needed by the end of the summer. BMW makes the Mini and Rolls Royce and employs about 8,000 people in the UK.Earlier, Airbus, which employs 14,000 people in the UK, warned it could leave if the UK exits the single market and customs union with no transition deal.The UK government says it is confident of getting a good deal for industry.The customs union brings together the EU's 28 members in a duty-free area, in which they pay the same rate of duty on non-EU goods.Prime Minister Theresa May has ruled out staying in the customs union. The UK is due to lea...
Shinsegae wins duty-free license at Incheon airport

Shinsegae wins duty-free license at Incheon airport

Business
SEOUL, June 22 (UPI) -- South Korean retail giant Shinsegae has won the right to operate duty-free stores at the first passenger terminal of Incheon International Airport. Shinsegae DF Inc. has been picked as the sole operator of the two duty-free zones that sell cosmetics and perfumes and leather goods at the country's major gateway and the transit hub in Asia, according to South Korean media. Shinsegae competed with Hotel Shilla Co., another duty-free giant in South Korea in a bidding organized by the Korea Customs Service on Friday. The competition opened as Lotte returned their duty-free license in February due to a high rent price, according to Yonhap. The annual sales of the two duty-free zones are estimated to be more than $ 812 million (900 billion won). Lotte Duty Free holds the...
Hammond: Treasury not the 'enemy of Brexit'

Hammond: Treasury not the 'enemy of Brexit'

Business
The Treasury is not "the enemy of Brexit", Chancellor of the Exchequer Philip Hammond has insisted.In a speech in the City of London, Mr Hammond said the UK needed to protect patterns of trade with the EU that had been "built over decades".The chancellor also used his Mansion House speech to confirm taxes will have to go up to boost spending on the NHS.But he said the increase would be partly funded by lower contributions to Brussels post-Brexit. In the past the chancellor has come under fire from supporters of Brexit.Earlier this month Foreign Secretary Boris Johnson called the Treasury "the heart of Remain", in comments to a private dinner. However, addressing a City audience on Thursday, Mr Hammond said the "immediate key" to the UK and London's econom...