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House of Fraser rescue plan to cost 6,000 jobs

House of Fraser rescue plan to cost 6,000 jobs

Business
House of Fraser (HoF) is aiming to cut around 6,000 jobs and more than half its stores under a plan to save the chain amid the crisis facing the high street The company, whose roots can be traced back to 1849, warned it did "not have a viable future" unless creditors and landlords backed its proposals.Its flagship store - on Oxford Street in London - is among 31 of 59 stores facing the axe.:: Is your local store closing? The full list of stores that will goSky News has previously reported on HoF's struggle to secure its financial future - culminating in Wednesday's plan to seek a Company Voluntary Arrangement (CVA) and avoid falling into administration.It said that in addition to its Chinese shareholder taking a 51% stake and injecting millions in new funding, House of Fras...
House prices soar as Ireland's economy booms

House prices soar as Ireland's economy booms

Business
Ireland's economy is booming and so too are its house prices.In some parts of the country the property market is among the fastest growing in the world, with valuations almost as high as they were during the "Celtic Tiger".But what some see as a boom, others view as a crisis - with many simply unable to get on the property ladder.The statistics are certainly sobering.Nationally house prices have risen by nearly 72% from their low point five years ago.In Dublin they have gone up a staggering 88%, that's on average by £130,000.Image:Sivakumar Ramachandran queued with dozens of others for a week to a claim a new build houseThe increase has placed incredible demand on buyers, many desperate to get a home before they become unaffordable.Among them Sivakumar Ramachandran who queued with dozens o
Closures loom at struggling House of Fraser

Closures loom at struggling House of Fraser

Business
The struggling department store chain House of Fraser (HoF) has drafted in advisers to examine options for accelerating its restructuring, raising the prospect of further shop closures at a dire time for the British high street.Sky News has learnt that KPMG has been asked by the Chinese-owned company to explore the possibility of a formal process called a Company Voluntary Arrangement (CVA), months after it informally asked store landlords to agree to big rent cuts.The news of KPMG's appointment, which is understood to have been signed off in recent days, will fuel expectations that a substantial number of HoF's 59 outlets across the UK are facing the axe.Sources close to the company said it was not certain that HoF and its shareholders would pursue a CVA but conceded that one was a possib...
White House walks back Trump's call for US to leave Syria 'very soon'

White House walks back Trump's call for US to leave Syria 'very soon'

World
In a statement issued Wednesday meant to clarify the U.S. presence in Syria, the White House did not announce an immediate withdrawal of U.S. forces, despite President Donald Trump's repeated calls in the past week to leave the country "very soon." "The military mission to eradicate ISIS in Syria is coming to a rapid end, with ISIS being almost completely destroyed," White House press secretary Sarah Sanders said. But she added, "The United States and our partners remain committed to eliminating the small ISIS presence in Syria that our forces have not already eradicated. We will continue to consult with our allies and friends regarding future plans." The statement offered no timeline for a troop withdrawal, nor did it change the U.S. policy in Syria – which has been for the approximat
Trump offers Putin 'White House visit'

Trump offers Putin 'White House visit'

World
US President Donald Trump has invited Vladimir Putin to the White House, a senior Russian diplomat has revealed.The visit was offered in a phone call last month, the official said, when Mr Trump rang to congratulate Mr Putin on his re-election.But their governments did not have time to arrange details before the US expelled 60 Russian diplomats following the Salisbury poisoning, they revealed.Moscow's ambassador to the US Yuri Ushakov made the claims on Monday, adding he hoped for a "serious and constructive dialogue" between the two countries.White House Press Secretary Sarah Huckabee Sanders confirmed Mr Trump invited Mr Putin to Washington during the call.But she stressed the White House was among "a number of potential venues" discussed as a location for the bilat.She cited an announce...