BUSINESS

FTSE CLOSE: Flybe investor stirs revolt against chairman; Sir Philip Green drops legal action


FTSE CLOSE: Tesco confirms 9,000 staff may face the axe; Flybe investor stirs revolt against chairman; Philip Green drops legal action over harassment claims

  • The FTSE 100 closed down 0.9% or 62.12 points at 6,747.10
  • Tesco confirms that up to 9,000 jobs are at risk at its head office and in stores
  • Flybe’s biggest shareholder has moved to eject chairman Simon Laffin
  • Sir Philip Green and Arcadia have ended their legal dispute with The Telegraph 

The FTSE 100 closed down 0.9% or 62.12 points at 6,747.10 as investors continue to worry about the state of US-China trade relations and tomorrow’s Brexit vote.

Tesco has confirmed reports it is set to make thousands of job cuts, with 9,000 being the figure it has made public at this stage.

Struggling airline Flybe has confirmed that its biggest shareholder, Hosking Partners, has moved to eject chairman Simon Laffin and ordered a probe into its takeover. 

Meanwhile, Sir Philip Green and his retail empire Arcadia have ended their legal claim against The Telegraph, which reported allegations of sexual and racial harassment against the tycoon. 

 

 

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