The Artesian blog takes a look at the business headlines, For personalised daily news, contact Artesian
BT axes graduate recruit scheme - Telecoms giant BT has closed its graduate recruitment programme as it continues to cut costs in the downturn.
The firm said it had no plans to reopen the scheme, but added that it remained "committed to the 2009 intake", who are due to start in September. (full story)
Corus to reforge Welsh steel plant - Corus is preparing to bring a steelworks at Llanwern in South Wales back to life as ArcelorMittal, the world’s biggest steelmaker, begins to relight fires at blast furnaces from Ohio to Ukraine.
ArcelorMittal will restore operations at a furnace in Gijón, Spain, this week, while two idle steel plants in America — a blast furnace in Indiana and a blast furnace and a rolling mill in Cleveland — will be brought online over the next two months. (full story)
Lehman Creditors Must Wait For Payback - Lehman Brothers' European clients face a longer wait to get their money back after the High Court blocked a process to speed up the unwinding of the bankruptcy, accountants have warned.
PricewaterhouseCoopers, administrator to Lehman Brothers International (Europe), sought approval for a plan to accelerate the return of clients' assets, tied up in the bank since it collapsed last year. (full story)
Business confidence positive in Q3 - Business confidence has turned positive for the first time in two years, the Institute of Chartered Accountants in England and Wales (ICAEW), said on Monday.
ICAEW said the Business Confidence Monitor (BCM) showed a record rise in confidence from -28.2 to +4.8, the largest quarterly improvement since the monitor began in 2003, and predicts that gross domestic product will rise 0.5 percent this quarter. (full story)
Focus DIY chain unveils rescue plan - Britain's biggest commercial landlords will back a deal to save DIY chain Focus at a creditors' meeting today.
The Company Voluntary Arrangement being proposed will protect up to 5,000 jobs and see leases for empty stores bought off with two lump sums equivalent to six months' rent. The DIY chain has 180 stores still trading with the 38 closed outlets costing £12m a year in rent. For the deal to proceed, some 75 per cent of creditors have to back it, but the landlords' support is crucial. (full story)
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