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M&S closure plans trigger £300m charge

M&S closure plans trigger £300m charge

Business
Marks & Spencer is braced for a financial hit of up to £300m from an expanded store closure programme that reflects brutal trading conditions on the British high street. Sky News has learnt that the retailer will announce as part of its annual results on Wednesday a huge charge triggered by costs associated with its efforts to shrink underperforming parts of its store portfolio.A source close to M&S said the company was expected to include so-called adjusted‎ items worth approximately £500m in its 2017 results statement.Of that sum, between £200m and £300m is related to the company's plans to shut 100 UK shops by 2022 as well as a number of international outlets, a source said.Those costs include charges related to lease‎s, staff redundancy...
Minimal air pollution can trigger lung conditions in kids

Minimal air pollution can trigger lung conditions in kids

Health
April 13 (UPI) -- Brief exposure to minuscule air pollution particles trigger acute lower respiratory infection in young children, according to research.Scientists from Intermountain Healthcare in Utah, Brigham Young University and the University of Utah studied exposure to PM2.5, pollution-causing particles that measure about 3 percent of the diameter of a human hair. Their findings were published Friday in the American Journal of Respiratory and Critical Care Medicine, an American Thoracic Society journal.The study involved 146,397 patients with acute lower respiratory infection in Utah between 1999 and 2016. The researchers said this is the largest study involving air pollution and children."The most important finding of this study is that infectious processes of respiratory disease may...
Watch out for these red flags that can trigger an IRS tax audit

Watch out for these red flags that can trigger an IRS tax audit

Finance
Little can strike more fear in the heart of taxpayers than the prospect of the Internal Revenue Service questioning their tax return.Yet, for most people, the chances of an audit are slim. Of the nearly 148 million individual tax returns filed in 2016, just 0.7 percent (about 1 million) were audited, according to the IRS.The factor that increases your chances the most? Making a lot of money. If you earn more than $ 1 million, the audit rate jumps to 5.8 percent."This is one case where the less money you make, the better off you are," said Bill Smith, managing director at CBIZ MHM's National Tax Office in Washington.More from Advisor Insight:Americans go on more drunk shopping spreesScammed taxpayers agree to pay IRS 'debt' on iTunes cardsMarket shocks should be wake-up call for investorsWh...
Giving money to adult children could trigger your financial ruin

Giving money to adult children could trigger your financial ruin

Finance
You might want to think twice before giving money to your adult child.A new study from CreditCards.com found that 74 percent of parents with adult children, defined as 18 and up, are continuing to help them financially.Of those parents, 84 percent are helping with living expenses, while 70 percent are assisting with debt.Cell phone bills, followed by transportation, rent and utilities, tops the list of living expenses, and with debt, parents are most commonly helping with student loans, followed by auto bills, medical debt and credit card bills."The worst case scenario is because the parents have helped their kids, and sacrificed their retirement, in 20, 25 years, the script might get flipped and the kids might have to help out their parents because they can't afford to retire," said Matt ...