Sunday newspaper round-up: Starmer, Burberry, Tesla
Keir Starmer opted to recall senior ministers from the New Labour government to join his team. The experienced hands being installed as non-political ministers include Douglas Alexander, as trade minister, or Jacqui Smith as education minister. Starmer's approach was reminiscent of Gordon Brown's attempt to build a "government of all the talents". - Guardian
Burberry Group
650.00p
16:44 04/10/24
FTSE 100
8,280.63
16:49 04/10/24
FTSE 350
4,570.17
17:14 04/10/24
FTSE All-Share
4,527.24
16:54 04/10/24
Nasdaq 100
20,035.02
12:15 04/10/24
Personal Goods
11,330.39
17:14 04/10/24
Tesla Motors Inc
$250.08
13:09 04/10/24
Burberry is set to cut staff numbers as it struggles to right the ship. The redundancies are a part of wider cost-cutting plans aimed at buttressing profit. The decline in the company's share price year-to-date carries the danger of a possible ejection from London's top-flight index. Affected employees were first notified in June and the retailer is now in the midst of a 45-day consultation. As many as 400 jobs may be at risk. - The Sunday Telegraph
Owners of Tesla-made batteries Down Under may be unable to benefit from power companies' rewards from for altering their power usage during peak load periods, including for air conditioning, hot water and solar panels. That is because the manufacturer disables the ability in its main storage product, the Powerwall 2 battery, in Australia, unlike in the US. - Guardian
Grant Thornton is studying a radical plan to sell part of the business to a private equity investor. Should it come to pass, it would be but the latest in a long list of deals that are reshaping the accountancy industry. At present, the firm was owned by over 200 partners. However, the terms of any deal would stipulate that the audit side of the business would have to remain majority-owned by the company's partners. - The Sunday Times