it's notjust topshop but miss selfridge, burtons, wallis, evans, and dorothy perkins.anky and the boss, sir philip green, has had a lot of negative publicity. all of that means that this store is one of nearly 50 he is hoping to try and close. that is why he is hoping to convince his landlords to sign a deal agreeing to close some stores and pay less rent for others in order to save the rest. the trouble is his biggest landlord isn't keen on the idea. arcadia bosses have spent the last week making last—ditch attempts to try and convince landlords to support the plan. and they say, if it is not approved by 75% of investors, then the whole business could go into administration. that is nerve racking for staff. they're sat there on the sidelines while their employer is having the negotiations with landlords over the future of their jobs. there is a bigger issue here as well, cause we're seeing lots on the high street disappearing and that impacts on locals community and high streets like this. it's full of doom and gloom at the moment. the only shops you see now are pound

it's notjust topshop but miss selfridge, burtons, wallis, evans, dorothy perkins. 20 years ago, theyeen falling out of fashion. they've faced a big competition from online retailers. a lot of people say they haven't invested enough to make their stores swanky and the boss, sir philip green, has had a lot of negative publicity. all of that means that this store is one of nearly 50 he is hoping to try and close. that's why he is hoping to convince his landlords to sign a deal agreeing to close some stores and pay less rent for others in order to save the rest. the trouble is, his biggest landlord isn't keen on the idea. arcadia bosses have spent the last week making a last—ditch attempt to try and convince landlords like intu to support the plan, and they say that if it's not approved by 75% of investors, then the whole business could go into administration. that is nerve—racking for staff. they're sat there on the sidelines while their employer is having a negotiation with the landlords over the future of their job. but there is a big issue here as well because we are seeing lots on t

they are due to decide whether to back plans to cut rents on some branches of topshop, dorothy perkinsf they reject them, arcadia could collapse. colletta smith reports. the backbone of hundreds of hundreds of high street across the uk, it's not just top of high street across the uk, it's notjust top shop but of high street across the uk, it's not just top shop but various others. they were tuning out big profits and pick high street fashion. topshop has been falling out of fashion. fsp competition from online retailers, but if you have is they haven't invested enough to make stores swanky and the boss has had a lot of negative positive was not a lot of negative positive was not a lot of negative positive was not a lot of that means that this store is one of 50 he is hoping to train close. that is why he is hoping to convince his landlords to sign a deal agreeing to close some stores and payless rent for others in order to save the rest. the trouble is his biggest lamott isn't keen on the idea was arcadia bosses have spent the last week making last—ditch attem pts the last week making

they are due to decide whether to back plans to cut rents on some branches of topshop, dorothy perkinsia could collapse. arcadia are the backbone of hundreds of high streets across the uk. it's notjust topshop but miss selfridge, burtons, wallis, evans, and dorothy perkins. 20 years ago they were churning out big profits and peak high street fashion. but topshop has been falling out of fashion. they've faced big competition from online retailers. a lot of people say they haven't invested enough to make their stores swanky and the boss, sir philip green, has had a lot of negative publicity. all of that means that this store is one of nearly 50 he is hoping to try and close. that's why he is hoping to convince his landlords to sign a deal agreeing to close some stores and pay less rent for others in order to save the rest. the trouble is his biggest landlord isn't keen on the idea. arcadia bosses have spent the last week making last—ditch attempts to try and convince landlords like intu to support the plan. and they say, if it is not approved by 75% of investors, then the whole business

arcadia owns a raft of big names from top shop and dorothy perkins to miss selfridge.566 stores in the uk and ireland and employs 18,000 workers. our business correspondent, emma simpson is here. sounds like this was right down to the wire. it was. this was absolutely a make oi’ it was. this was absolutely a make or break deal because if it didn't pass, arcadia was likely to collapse and it was all down to the landlords. they had to approve a big rent cuts and store closures and last week arcadia tried to get this through but the meeting had to be adjourned. there wasn't enough support. it has felt like it has been on a knife edge all day. but sir philip green has got it through, he sweetened his offer and what this means is that the business lives to fight another day. it means he can cut costs and try to execute his turnaround plan. we already know that that involves 48 store closures in total and hundreds ofjob losses. but there is a question about this deal. will it simply be a sticking plaster? landlords reckon that down the line there will be considerably more st

arcadia owns a raft of big names from top shop and dorothy perkins to miss selfridge.orkers. our business editor simon jack has more. they were seeking approval from the landlord, asking them to accept a very steep discounts to landlord, asking them to accept a very steep discounts to the landlord, asking them to accept a very steep discounts to the rent they got and they did not get this through last week. they tried this last week and didn't get permission and we also know one of the biggest landlords had vowed to vote against it. it was a very tight vote and it went through in the end. earlier this evening, i was told that it was a very tight thing. it didn't come close to collapse, we won the vote. it was a legitimate vote and it was one. we got a win today and many more landlords clearly voted more yes the no. one landlord wants to make a lot of noise, that is his choice, not my choice but as far as i'm concerned, tonight is about a celebration for our workforce, our supply chain and yes, the market has changed, now we've got to get to work, grasp this new marketp

he will have to agree to a rent cut on the stores which include britain, miss selfridge, dorothy perkinsfrom his largest fund, the woodford equity income fund. he says, the move was ‘necessary to protect investors' interests'. campaigners head to the high court for a judicial review into how the government raised the retirement age for women. the group which brought the review claims the speed of the change and lack of warnings has disadvantaged millions of women. the government says the rise had been "clearly communicated". more on the story about pensions. the high court is reviewing a decision to raise the legal retirement age from 60 to 66, following accusations of mishandling at the department for work and pensions, and campaign groups claim that nearly one in four women born in the 1950s were not given a warning of the changes and had no time to financially prepare for retirement. joining us now is helen morrissey from the royal london group — a pensions specialist. what is going to be reviewed today at the high court? we have had a steady track where pension ages four women have b

arcadia owns a raft of big names from topshop and dorothy perkins to miss selfridge. 18,000 workers. simonjack is with me. so how much trouble is the company and, then? well, this afternoon, sophie, sir philip green's once mighty retail empire was on a knife edge, seeking approval from landlords to close some stores, asking them to accept a very steep discounts to the rents, and they did not get us through this last week, they tried it last week and didn't get permission. we know that one of the biggest landlords had vowed to vote against it, so it was really, asi vote against it, so it was really, as i say, a very tight vote, it went through in the end, so a lifeline extended. i put it to sue philip green when i spoke to him on the phone earlier this evening that it was a very tight thing, here is what he said. it didn't come close to collapse — we won the vote. it was a legitimate vote, and it was won. we got a win today, and many more landlords clearly voted yes than no, right? one landlord wants to make a lot of noise, that's his choice, that's not my choice. so f

sir philip wants to cut the rent that arcadia pays on its stores including topshop, burton, and dorothy perkins, the retail giant could go into adminstration. intu and arcadia refused to comment. energy bills could go up by a few pounds a year to pay for a new nuclear power station at sizewell in suffolk. that is if a new financing plan being considered by ministers goes ahead after a consultation. backers of the plan say it would help bring the cost of nuclear power closer to current market rates — rather than the higher rate the government agreed to pay for power from another new plant at hinkley point in somerset. nearly 200 business leaders have signed an open letter arguing us moves to restrict abortion are "bad for business". the campaign comes as several us states have passed or are considering stricter new abortion laws. the letter published in the new york times said curbs on abortion threaten the health of staff and customers. the chief executives of slack, square, zoom, and bloomberg were among those who signed the letter. the ftse 100 extended gains as signs of more government spend

week for sir philip green's arcadia retail group, which includes topshop, burton, wallis and dorothy perkinsp to 50 stres and negotiate lower rents on others. —— stores. if landlords — who own the store buildings — and the pensions regulator do not back the plans, the high street giant could go into administration. kier shares have tumbled by a massive a0%, after warning that profits will not meet expectations this year. the construction and services group said underlying profit would be around £25 million below previous expectation. it blamed higher costs and problems at units in the road, utilities and housing maintenance businesses. last year, kier launched a reorganisation aimed at cutting costs and selling none—essential businesses. retail giant marks & spencer is perilously close to being booted out of the ftse100 this week, for the first time since the index was launched in 1984. its shares have tumbled by nearly a fifth over the past six months, as sales and profits have come under pressure. but it is likely to be saved from an embarrassing demotion from britain's blue chip share ind

the arcadia group — which owns brands like — topshop, burton, dorothy perkins and miss selfridge — likeand cutting the rent on around 200 others. but he needed landlords to agree to that at a crunch meeting last night. they agreed to rent cuts of 25—50%. not as bad as they'd first feared, but a significant cut nonetheless. they decided it's better to have a tenant earning them some money rather than leave the stores empty. in return, the firm will invest another £50 million into the group, on top of more money promised for the pension fund. so is that the end of the saga? kirsty mcgregor is deputy editor at drapers magazine. good morning. look, the deal last night, philip green has been talking to the bbc. this is a good deal, safeguarding stores but isn't really a good deal? especially for those landlords who have to pay the price? it's not the best outcome for the people who work in those stores, for the landlords who have to cut the rent but if the alternative was administration which is what they have said, it's better than that because they've saved 500 plus stores. let's talk abou

it's notjust topshop but miss selfridge, burtons, wallis, evans, and dorothy perkins. 20 years ago theyf that means that this store is one of nearly 50 he is hoping to try and close. that is why he is hoping to convince his landlords to sign a deal agreeing to close some stores and pay less rent for others in order to save the rest. the trouble is his biggest landlord isn't keen on the idea. arcadia bosses have spent the last week making last—ditch attempts to try and convince landlords to support the plan. and they say, if it is not approved by 75% of investors, then the whole business could go into administration. that is nerve—racking for staff. they're sat there on the sidelines while their employer is having the negotiations with landlords over the future of their jobs. there is a bigger issue here as well, cause we're seeing lots on the high street disappearing and that impacts on locals community and high streets like this. it's full of doom and gloom at the moment. the only shops you see now are pound shops, betting shops food shops and charity shops. fewer and fewer shops, less

the owner of top shop and dorothy perkins says it was approved by creditors.etflix is stepping up efforts to turn its streaming form into a multimedia empire. is unveiling new video games. "stranger things 3" the game will come out the same day the third season debuts. characterssing the to outside studios. launcheds lanced -- three satellites. the falcon nine rocket and satellites were deployed successfully. they willans say provide 250,000 images to monitor the environment. that is your bloomberg business flash. nejra: debra mao in hong kong, thank you. let's turn back to trade, president trump says no deadline for a deal with china other than the one in his head. trump is confident a deal will happen. today, we are asking on mliv, our markets rising in a u.s.-china trade deal in 2019? you can join the debate, reach out to us and the mliv team on your bloomberg. marija veitmane, senior multi-asset strategist, state street bank & trust is still with us. we have loads of things in our head that we should not share. a deadline on tariffs is one that should be v

arcadia owns a raft of big names from top shop and dorothy perkins to miss selfridge.ter, nina nanji. the children's charity, the nspcc, has apologised for the way it which it cut ties with model munroe bergdorf. the nspcc ended the relationship on friday, two days after announcing that the transgender advocate would be part of a three month lgbtq+ campaign. the nspcc chief executive peter wanless said he has now given bergdorf a "full, frank and unreserved apology". the statement said the decision was nothing to do with the model being transgender, but that the board had decided an ongoing relationship was inappropriate due to statements by bergdorf on the public record, which were specific to safeguarding and equality. the driving force behind the decision the board took was concern around the lack of process that our organisation used. bergdorf has now tweeted in response: "i appreciate the formal apology nspcc. this situation has been extremely stressful and unnecessary. " the headlines on bbc news... boris johnson launches his campaign to become the next prime min

there are a number of outlets such as dorothy perkins and top shop within arcadia and they have sufferedn ove rta ke n by investment meaning they have been overtaken by other people on the high street. that is not help them when trade has been difficult anyway. you say bring them up—to—date, are you suggesting that they are selling is out of date? up—to—date, are you suggesting that they are selling is out of date ?|j think they have not kept up with trends. they have not invested and sold online. that has been demonstrated. in the event that you look at what investment they have had in stores i think a number of people around the country will say that the stores look a bit dull, they look a bit on looks after. they need to be brought up—to—date. the motorways is exhilarating with other brands focusing on new opportunities and arcade has been left behind. this appears to have been a very close vote. arcadia is kind of ok but is thatjust for now? is that a temporary fix? i think it has to be a temporary fix. they have been rumours that arcadia have been saying they need to have only 300 s

to vote on plans from sir philip green's arcadia group which owns topshop, miss selfridge and dorothy perkinsnd it wants the biggest landlords to accept cuts in their rents of up to 50%. if they refuse, arcadia could go into administration. whirlpool has been ordered by the government to recall half a million of its tumble dryers over fears they pose a fire safety risk and it comes after millions of dryers under whirlpool hotpoint, creda and indesit caused fires, including one in a tower block. whirlpool says safety is its number one priority. the united states recorded the biggest ever victory in the fifa women's world cup last night. commentator: she's got her goal! they crushed thailand 13—0. ten of the goals coming in the second half, alex morgan was the top scorer for the states with five goals. that's it for the news summary. back to you, victoria. thank you very much. in an hour's time borisjohnson launches his campagin to be prime minister. in a moment we'll talk live to another of the candidates hoping to be your next pm, andrea leadsom. first here's a bit about her. the race is on t

week for sir philip green's arcadia retail group — which includes topshop, burton, wallis, and dorothy perkinso own the store buildings — and the pensions regulator do not back the plans, the high street giant could go into administration. more trouble for boeing. the us federal aviation administration says that more than 300 737 max and ng jets may contain improperly manufactured parts that need replacing. all 737 max jets were grounded after two of the aircraft suffered fatal crashes in the space of five months. business and trade are neverfarfrom the mind of president trump. ben, what can we expect to emerge from this visit on those topics? it is hugely important in terms of brexit. yes, it's no secret that there are hopes of — well, an ambitious trade agreement between britain and america after brexit. the prime minister's spokesman said he expected the issue of a free trade agreement to come up in the talks between the president and mrs may. one potential thorny issue is around access to the uk health care sector. some senior government ministers have said "the nhs will not be on the tabl

this time it's the arcadia group, which includes brands like topshop, burton, dorothy perkins, miss selfridgemer habits, in this case competition from fast—growing online specialists such as boohoo and asos, as well as cheaper rival primark. so what are the solutions? i mean, if you knew that... so what are the solutions? i mean, if you knew that. .. if i knew that, i probably wouldn't be doing this! again, like other retailers, it wants to cut costs. those high—street stores are expensive and fewer people are going on and spending money. that means closing around 50 stores and renegotiating rents on around 200, under what is known as a cva, or company voluntary arrangement. so whatever happens, it is likely to meana so whatever happens, it is likely to mean a big change in the high street. without it, it says it could go into administration. it would be a huge loss given the number of stores and the brands that are included. it needs 75% of its creditors, including its landlords, to vote on the plan at a meeting tomorrow. they have been reluctant so far because they would earn less in rent,

arcadia group — which includes topshop, burton, and dorothy perkins among others — is a titan of theona backing could be huge? that is right, on a couple of levels, we have got to think how big they are in the brand names they have underneath them and how you thousands of people rely on arcadia group and the associated brands for their jobs. group and the associated brands for theirjobs. it is also the precedent it sets, the company voluntary agreements have been are used in multiple examples recently where high street names have been struggling and the landlords are choosing this as a moment to take a stand, dangling the sword of damocles over arcadia, at this meeting could set a precedent, it could change how things happen going forward in this area because company volu nta ry forward in this area because company voluntary agreements do not half put the squeeze on landlords. staying on the squeeze on landlords. staying on the theme of retail, ted baker, one of the big fall is in terms of share price, another indicator of the woes that retailers are facing? you are right, the share

it's notjust topshop but miss selfridge, burtons, wallis, evans, dorothy perkins. 20 years ago, theyfalling out of fashion. they face big competition from online retailers. a lot of people say they haven't invested enough to make their stores swanky and the boss, sir philip green, has had a lot of negative publicity. all of that means that this store is one of nearly 50 he is hoping to try and close. that's why he's hoping to convince his landlords to sign a deal agreeing to close some stores and pay less rent for others in order to save the rest. the trouble is, his biggest landlord isn't keen on the idea. arcadia bosses have spent the last week making last—ditch attempts to try and convince landlords like intu to support the plan, and they say that if it's not approved by 75% of investors, then the whole business could go into administration. that's nerve—racking for staff. they're sat there on the sidelines while their employer is having a negotiation with the landlords over the future of their job. but there is a bigger issue here as well because we are seeing lots on the high st