Sainsbury’s increase sales
Sainsbury’s became the only one of the Big Four supermarkets to increase overall sales last month, according to the latest industry data.
Sales rose 0.5 percent year on year in the 12 weeks to the 28th February, but saw market share remain flat at 16.8 percent.
Britain’s overall grocery market grew at 0.5 percent, the fastest rate of growth since October 2015. Sainsbury’s (LON:SBRY) are currently trading down 0.26 percent at 269.80 (0922GMT).
The cuts are equal to a fifth of its workforce, and according to the German-owned company will be from both the UK and overseas.
The “big six” energy firm has been plagued by a spate of problems, including being fined a record £26 million in December over billing problems. Npower lost €137 million last year, compared with €227 million profit in 2014.
German industrial output rises
German industrial output got off to a positive start in 2016, according to data from the German Economy Minister, rising at its fastest pace in more than six years.
Output rose by 3.3 percent on the month, significantly outstripping the Reuters forecast of a 0.5 percent gain. The rise was the biggest since September 2009.