London Stock Exchange-Deutsche Boerse merger could lead to 1,250 job losses
The London Stock Exchange and Deutsche Boerse could cut up to 1,250 jobs if their $30 billion planned merger goes ahead.
The combined group would generate pre-tax revenue synergies of at least €250 million ($279 million) annually from the fifth year after the deal completes, Deutsche Boerse and LSE said in a filing on Wednesday.
LSE said that while there will be job cuts, 200 new roles could also be created because of growth initiatives.
Halfords profits fall
Profits at Halfords have been hit by a fall in bicycle sales, the company said on Wednesday.
Halfords reported a profit of £79.8 million for the year to 1 April down 1.2 per cent on the previous year, as revenues slipped slightly to £1.02 billion from £1.03 billion. But the bicycle chain said it will stick by the financial target it set out in November.
The company also announced the launch of an exclusive bike range from double Olympic gold medallist Laura Trott.
Waitrose wins record share of UK grocery market
Waitrose captured a record 5.3 per cent of the UK grocery market over the past quarter, according to research firm Kantar Worldpanel.
The retailer’s sales increased by 2.1 per cent in the 12 weeks to May 22 compared with the same period last year.
Aldi and Lidl continued to expand with Lidl’s growth up 12.2 per cent and Aldi up 11.4 per cent.
Goldman Sachs Said to Cut Dozens of Investment Banking Jobs
Goldman Sachs has reportedly cut dozens of investment banking jobs across its global locations over the past number of weeks.
The bank eliminated dozens of managing directors, executive directors and vice presidents across the mergers and debt and equity capital markets teams, sources told Bloomberg on Wednesday.
The job cuts affected offices in London, New York and Hong Kong, among others.
