“Woolworths’ retail division is likely to be
placed into administration by the middle of the week,”
reports the Financial Times, as the company races to
complete an emergency demerger of the retail arm from its EUK
wholesale group and its 2entertain DVD-publishing joint venture
with the BBC.
Alistair Darling is expected to unveil a reduction in vat
today, from 17.5 per cent to 15 per cent, to stimulate spending.
But the Daily Mail, for one, doubts that the tax
cut will invigorate the economy.
PC World and Currys parent company DSG
International is this week expected to post its first
half-year loss in 20 years, according to The Times.
Ted Bell, finance director of online organic grocer Abel
and Cole, speaks to Accountancy Age about “running a big
company with a small-business ethic”.