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All Mothercare UK stores to close

All Mothercare UK stores to close

Business
Troubled baby goods retailer Mothercare has called in administrators, putting 2,500 UK jobs at risk.There will be a phased closure of all of its 79 UK stores, administrators from PwC said.The UK firm "has been loss-making for a number of years", but international franchises are profitable, PwC said.On Monday the baby goods firm said it was "not capable" of being sufficiently profitable and that it had failed to find a buyer.Joint administrator Zelf Hussain said: "This is a sad moment for a well-known High Street name," adding that Mothercare "has been hit hard by increasing cost pressures and changes in consumer spending.""It's with real regret that we have to implement a phased closure of all UK stores. Our focus will be to help employees and keep the st...
Close to 70 senior bankers in fray for LVB top-post

Close to 70 senior bankers in fray for LVB top-post

Finance
Mumbai: Close to 70 senior bank executives are in the fray to occupy the corner room office of the chief executive and managing director of the Tamil Nadu-based lender Laxmi Vilas Bank. The Chennai-headquartered mid-sized private sector bank has been headless since mid-September after the then chief executive Parathasarathy Mukherjee left before the completion of his three-year term. The bank, which has been placed under the prompt corrective action by the monetary authority since August for low capital buffer and higher NPAs coupled and mounting losses, is scheduled to complete the process by November 10. “We have received as many as 68 applications for the post of chief executive and managing director, signalling higher interest in the nearly 100-year- old private sector bank,” a bank so
Agent: Ezekiel Elliott, Dallas Cowboys ‘very close’ to deal

Agent: Ezekiel Elliott, Dallas Cowboys ‘very close’ to deal

Sports
Sept. 3 (UPI) -- Dallas Cowboys star running back Ezekiel Elliott is nearing a deal with the team to end his holdout. Elliott's agent, Rocky Arceneaux, said the tailback is "very close" to reaching a contract extension with the Cowboys. Elliott, who has been training in Cabo San Lucas, Mexico, during his holdout, returned to Dallas on Tuesday in the hopes of finding a long-term agreement. "I think Zeke is showing he's committed by coming back to Dallas. We didn't come here not to do a deal," Arceneaux told reporters at DFW International Airport. "We're talking. They're committed and we're committed. That's why we are here." Arceneaux said Elliott is in playing shape if a deal is reached this week. League sources told NFL Media that Elliott and the Cowboys are in the final stages of a con...
Queen agrees to close British Parliament; opponents outraged

Queen agrees to close British Parliament; opponents outraged

World
Aug. 28 (UPI) -- British Queen Elizabeth II agreed Wednesday to shut down Parliament for five weeks at Prime Minister Boris Johnson's request, drawing backlash from lawmakers working to strike a deal with the European Union before Britain leaves in two months. Johnson asked the queen to temporarily suspend Parliament from early September to Oct. 14, saying the move will allow him to better pursue his domestic policies. Opponents say he's trying to ward off interference from lawmakers hoping to block an exit without an EU agreement. Johnson has previously vowed Britain will have departed the 28-nation alliance by Nov. 1, with or without an EU agreement. He also said a reason for the move is because the present session has gone on for too long. Johnson denied the move had anything to do wi...
Bond market close to sending biggest recession signal yet

Bond market close to sending biggest recession signal yet

Finance
Scott Olson | Getty ImagesAs Wall Street economists up the odds for a recession in the coming year, the bond market is sending its own scary warning about an economic downturn.Various parts of the yield curve have been inverted, but the traditionally watched 2-year to 10-year spread looks set to invert any day now, with the curve at its flattest level since 2007.The 10-year yield, at its low yield of 1.64% Monday came less than 6 basis points above the 2-year yield, which was at 1.58% in afternoon trading. The spread broke below 10 basis points last week. An inverted curve simply means a shorter-term interest rate is higher than the longer-term one that it is being compared too, and that inversion has been a reliable recession signal. "It's the whole idea that the Fed is making a mistake. ...