techkenyot.com
techkenyot.com April 18, 2019


HMV rescued by Sunrise Records; BP profits spill over; Ocado losses widen

05 February 2019, 05:24 | Hattie Nash

HMV store

HMV store

Details of which stores are destined to be shuttered are not immediately available, but nearly 1,500 store and head office employees will keep their jobs as part of the transition.

Sunrise Records & Entertainment Ltd is acquiring 100 stores across the United Kingdom, and 1,487 store and head office employees will transfer as part of the transaction.

The firm's remaining 27 stores will close, resulting in 455 redundancies, and it has been revealed the store at Bluewater in Greenhithe and the Tunbridge Wells store in Royal Victoria Place, are set for closure. A further 122 employees at warehouses will be retained to assist in winding-down operations.

MR Putman, chieF executive of Sunrise Records, said: "We are delighted to acquire the most iconic music and entertainment business in the United Kingdom and add almost 1,500 employees to our growing team".

Federal Prosecutors Reportedly Subpoena Trump Inaugural Committee
Foreign contributions to inaugural funds and PACs are prohibited under federal law. A spokeswoman says the committee intends to cooperate with the inquiry.

KPMG, the administrators of music shop HMV, on Tuesday revealed the names of the 27 stores that will be closing under a proposed rescue deal for the chain, which went bust at the end of a year ago.

Staff at the affected stores are being spoken to today (February 5) and a list of the shops affected is expected later today.

HMV went into administration in December 2018 after a whopping 30% fall in demand for DVDs at Christmas. "I feel really lucky to be able to say that we can continue to call it HMV".

Mr Ashley, who bought House of Fraser out of administration previous year, had been hotly tipped as a potential buyer for HMV.

General Motors starting white-collar layoffs this week
Along with letting workers go, GM is also closing four manufacturing plants in the United States and another in Canada. Another 1,500 contracted employees are said to have not been offered an extension or renewal on their contracts.

"By catering to music and entertainment lovers, we are incredibly excited about the opportunity to engage customers with a diverse range of physical format content and replicate our success in Canada".

"Our immediate concern is now to support those employees that have unfortunately been made redundant".

We hope that Government will play its part in helping to sustain important employers like HMV by reviewing the high levels of business rates that disadvantage physical stores compared to online traders.

The 'Toy Story 4' Super Bowl Ad Is Here
The franchise has seen two sequels and multiple merchandise lines since then, and we now know that Toy Story 4 is on the way. In the trailer, Woody and Little Bo Peep are at a carnival waiting for Buzz, who said he would meet them there.



Other News

Trending Now

Putin to pull plug on nuclear arms pact after US does same
President Vladimir Putin said on Saturday that Russia's initiatives in this area remain on the table, Lavrov noted. NATO allies have strongly backed Washington and urged Moscow to save the treaty by returning to compliance.

'Millions' attend live concert in video game Fortnite
To commemorate this performance, there will be a Marshmello skin, a Marsh-Walk emote as well as a Marshmello-inspired glider. Some players even heard a live mic check during matches in preparation for the event.

Freezing rain, roller-coaster temperatures
More soaking rain showers are likely Thursday before temperatures fall back to closer-to-normal cool February highs this weekend. This snow is the result of a Colorado low that will track over Northeastern Ontario Monday evening.

World Health Organization and vaccine group back 'critical' cervical cancer shots
However, these are not effective against all HPV types that cause Cancer; and vaccination is not a replacement for screening. Medicine is advanced enough to be more successful in curing cancer but we need patients' determination as well.

Microsoft's Project xCloud Will Connect Xbox Live to iOS, Android and Switch
Microsoft has revealed plans to bring Xbox Live to more platforms and expand cross-platform play. The news underscores Microsoft's focus on bringing its services to multiple platforms.

Millions in cryptocurrencies frozen after Canadian founder's death
The reason for the lost money this time is perhaps even stranger: only one person knew the company's password, and he died. Robertson said Cotten held " sole responsibility for handling the funds and coins ", according to the document.

Pentagon Warns ISIS Could Resurge in Syria Within Months
Asked if he meant he wanted to be able to strike Iran, Trump replied: "No, because I want to be able to watch Iran ". Officially, Iraq says there are no USA bases on its soil - only instructors deployed at Iraqi bases.

Alphabet's fourth-quarter revenue, profit beat estimates
Costs were also pushed higher by hiring, mostly for the cloud business, she added during a conference call with analysts. Google remains a dominant player in online advertising even as Alphabet has ventured into "moonshots" in new sectors.

Bebe Rexha Slams Critics Over Demi Lovato's 21 Savage Backlash
I don't get the joke", Wale tweeted, adding in a second tweet, "A lot of people were sending you love light, prayers etc". She added in a later tweet that "this is the s- I'm laughing at. not the fact that anyone is getting deported".

Facebook's WhatsApp Adds Support for Face ID/Touch ID Biometric Lock on iOS
To benefit from the new security feature, simply head to Settings / Account / Privacy and make sure to enable Screen Lock . According to the report by WABetaInfo , users can also set the time duration before which the app locks down WhatsApp.