New car sales fall as motorists switch to second hand models

New car sales have suffered their worst January since 1974 as cash-strapped motorists switch to second hand models to save money.

Jessops profits fail to develop

The company has just reported full-year losses of almost £50 million, hot on the heels of the first stumble encountered by the digital camera market in many years.

Shop Direct (Littlewoods) cuts 1,150 jobs – claims strong business

Shop Direct group (formerly Littlewoods Home Shopping) has dropped a stunner by closing their Crosby call centre thus axing 1,000 jobs and a further 150 redundancies at their Liverpool headquarters.

Further EMERGENCY meetings at PC World

Yesterday emergency meetings arranged by DSGi, to restructure the management of its PC World stores took place. Regional and store managers faced heavy redundancies, and that the prospect of PC World and Currys being merged into one store looked ever more likely.

Airlines suffer mass slump in passengers and cargo

Airline passenger growth nearly ground to a halt last year as the latest industry figures registered a “shocking” 22.6% drop in air cargo in the last month of 2008.

From pharmaceuticals to photography: fresh round of jobs cuts

The global economy suffered a fresh series of job losses today as companies from pharmaceuticals to photography and the law to London Underground announced cutbacks.

Jessops shares drop after debt restructure

Camera retailer Jessops admitted this morning that it needs a major restructuring of its debt after posting ballooning losses. The shares dropped by more than 16% to 2.3p on the news.

Japan heads for worst recession since second world war

Japan could be heading for its worst recession since the second world war after figures released today showed industrial output fell almost 10% last month and unemployment rose at its fastest pace for more than 40 years.

Honda shuts UK factory for four months

Japanese carmaker Honda will shut its British factory for four months this evening, after a slump in sales.

UK recession sends pound to new low

The pound slid to the lowest level since 1985 after Britain fell into its first technical recession in 17 years.