The Artesian blog takes a look at the business headlines, For personalised daily news, contact Artesian
Store Space Reshuffle Hits Debenhams Sales - Department store group Debenhams has reported a 3.8% drop in like-for-like sales in the last six months compared to the same period last year.
The group blamed the decline, which saw sales for the full year slip 3.6%, on disruption caused by a major store revamp. (full story)
Bank crisis lessons 'not learned' - A year after Lehman Brothers collapsed, a think-tank has warned the lessons of the crisis have not been learned.
The Institute for Public Policy Research (IPPR) says the rapid return to the City's bonus culture shows real reform has been "very limited". (full story)
Drugs market uncertainty costs 5,500 Eli Lilly jobs - President Obama’s controversial healthcare reforms have made a swift impact on Eli Lilly, the pharmaceuticals group, which believes that the programme could depress the price of drugs. Faced also with the loss of key patents, the company said yesterday that it was to cut 5,500 jobs, or 13.6 per cent of its global workforce.
Eli Lilly, which employs 40,500 staff worldwide, of which 1,600 are based in Britain, plans to cut $1 billion (£600 million) from its annual costs in the face of what it describes as the “most challenging period” in its history. (full story)
MG Rover £100,000 'bribe' under investigation - A quango that was invoiced for a £100,000 alleged "bribe" relating to the redevelopment of MG Rover's Longbridge site has launched an investigation into the payment.
Taxpayer-funded Advantage West Midlands (AWM), a Regional Development Agency, was invoiced for the money by St Modwen Properties, the listed company, when it bought the site for redevelopment from a third company. (full story)
Warning over holiday sick leave ruling - A landmark legal ruling allowing workers to claim back holiday time lost to illness will expose employers to exploitation, it was warned today.
The CBI said the European Court judgment, in a case involving a Spanish council worker, was "open to abuse". (full story)
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