Marks & Spencer group post its first-ever loss. | Kalkine Market Update UK |

  • November 05, 2020 11:01 AM GMT
  • Team Kalkine

Covid 19 has taken a toll on the business of Marks & Spencer, as the retailer has posted its first-ever loss for the half-year ended on 26 September. The company posted a loss after tax of £71.6 million as compared to a profit after tax of £122.4 million in the first half of last year.

* Lloyds Banking Group Plc resumes job cuts Lloyds Banking Group Plc has resumed the job cuts and announced around 1,000 job redundancies. The financial services major is working on its restructuring plan and will cut jobs mostly in the retail and technology divisions.

* Vodafone Group’s Egyptian arm acquires 40 MHz of spectrum Vodafone Group Plc’s arm Vodafone Egypt has acquired 40 MHz of 2.6 GHz TDD spectrum from Egypt’s regulatory and competition authority NTRA. The spectrum will enable the largest mobile network operator in Egypt with active subscribers to expand network capacity. The spectrum has a ten-year license term through to 2030 and its payment has to be made over a three-year period with an initial payment of $270 million.


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