Proposals to revive shipbuilding on Merseyside, which could create more than 1,000 jobs, hang in the balance as pressure mounts on the DTI to fund some of the £344m project.
Cammell Laird has signed a contract to build two 28,000 tonne vessels with the recently formed cruise ship consortium Luxus. The company will only secure the contract if the DTI grants funding worth 9 per cent of the cost of the vessels. Company sources claim work would start on the two vessels within weeks of a deal and would take 33 months to complete. FT
Jobs to go to improve health of chemist stores
The pharmacy retailer Boots could make more staff redundant after announcing plans to cut costs by £100m over the next two years. Senior management will announce its plans early next year, which follow 1,000 job cuts in the company’s chemist chain. Deputy chief executive David Thompson reportedly insisted the move was vital to allow further investment in its stores. Guardian
Dotcom faces redundancies and restructure
The Internet marketplace Priceline.com has announced it will axe 16 per cent of its workforce and the departure of its chief financial officer Heidi Miller. The changes mean 87 staff out of 535 will lose their jobs - but those who stay could benefit from a compensation programme. Priceline said the job cuts and management shake-up will streamline the company’s operating structure and improve profitability. Miller was hired from Citigroup earlier this year to the dotcom organisation, which handles discount travel, loans and telephone calls. FT