END OF BUSINESS: FTSE Up 0.2%; Pound at $ 1.38; Amazon hires 55,000 more employees worldwide; Barratt enjoys increasing profits
- FTSE 100 closed 14 points to 7163; FTSE 250 fell 24 points to 24,226
- Critics warn of Amazon’s threat to independent businesses
- Barratt Developments sees its annual profit jump, as new figures show
- CMA is temporarily blocking JD Sports’ proposed deal with Footasylum
- GKN owner Melrose returns to profitability in the first half of the year
- According to the Gym Group, membership and visits have increased since it reopened
- If you’re using our app, click here to read Business Live
Later gains helped the FTSE 100 close in positive territory, climbing 14 points to 7163, but the FTSE 250 ended the day 24 points to 24,226.
The US online retail giant Amazon plans to hire 55,000 more employees worldwide, with thousands of jobs also in the UK.
The company said all open positions were for tech jobs and corporate positions. Amazon has hired thousands of warehouse workers to pack and ship online orders.
Critics claim Amazon’s exponential growth poses another threat to independent businesses.
Elsewhere, home builder Barratt Developments released strong annual results this morning.
The group recorded a 65.1 percent increase in pre-tax income for the year ended Jan.
JD Sports was “perplexed” and “disappointed” after the competition and market regulator announced a preliminary decision to block the proposed purchase of Footasylum after an appeal.
Kip Meek, chairman of the group conducting the investigation, said the deal would “buy Fußasylum from its closest competitor,” which could result in a poorer shopping experience for customers with higher prices, smaller product ranges and fewer discounts.