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Tuesday,31 January 2023 at 17:13
than 800 jobs at Paperchase
are under threat after Britain's largest supermarket, Tesco,
swooped for the struggling stationery company in a deal expected to close
Tesco said it had bought the Paperchase brand and intellectual property, and
expected to start rolling out new products in its UK stores.
The announcement came just hours after Paperchase collapsed into administration
The deal is understood to not include Paperchase's 100 stores, where it employs
more than 800 people, casting doubt on the future for hundreds of staff.
UK and European
markets slid further despite euro zone growth figures
coming in ahead of estimates.
U.S. stocks inched forward as
a flurry of corporate earnings rolled in.
Oil prices steadied after
moving close to a three-week low, with U.S. wage growth data and a retreating
U.S. dollar bolstering risk sentiment ahead of OPEC and central bank meetings
Gold prices were on track
for their third straight monthly gain, helped by an overall
weaker dollar and expectations around slower rate hikes from the U.S. Federal
At the close
FTSE 100 7,771 (-0.17%)
FTSE 250 19,853 (-0.42%)
DAX 15,128 +0.01%
Dow Jones 33,795 +0.23%
S&P 500 4,043 +0.63%
NASDAQ 11,506 +0.99%
UK 10-YR YIELD 3.337
Gold $1,926 +0.22%
Brent $85.00 +0.73%
Important - No news or research item should be construed as a recommendation to trade. The inclusion of securities within this report does not necessarily imply their suitability for individual portfolios or situations in respect of which further advice should be sought. Information contained in this report has been compiled from sources believed to be reliable but is not warranted to be accurate or complete.