Boohoo appoints judge; M&B has cut 1,300 jobs

Business

The FTSE 100 index closed on a downbeat note this afternoon after the Government unveiled post-Christmas lockdown tiers and restrictions which will see swathes of the country lumped in tier two or three.

With markets in the US closed for Thanksgiving, the blue-chip index closed down 0.44 per cent or 28.16 to 6,362.93.

Online fashion retailer Boohoo has appointed retired judge Sir Brian Leveson to provide independent oversight of its programme to improve supply chain and business practices. The group said Sir Brian will report directly to the Boohoo board.

Pub operator Mitchells & Butlers swung to an annual loss and said it had cut 1,300 jobs as it could no longer support them due to store closures and reduced levels of activity.

In more gloomy news, the number of cars built in the UK fell by almost a fifth last month compared to a year ago, new figures from the Society of Motor Manufacturers and Traders reveal. Just over 110,000 models left factories, down by 18.2 per cent on October 2019.

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