John Lewis closing stores

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Shops closing doors

John Lewis has said not all its stores will reopen their doors next month, as it revealed a pre-tax loss of £517 million for the year to 30th January. It announced the closure of 8 stores last year, and now warns there are more on the way. Lockdowns have hit the department stores’ sales hard, with non-essential shops still closed.

Brexit delays

74% of British manufacturers are struggling to cope with delays on moving goods in and out of the EU. Disruption caused by Brexit and coronavirus are causing long backlogs and imposing higher costs on companies. A third of firms said they’re losing sales as a result.

Export boost

Stamping “Made in UK” on products could boost exports by up to £3.5 billion, according to research by Barclays. In a global survey, people said they’d be willing to pay extra for goods bearing an official Union Jack kite mark. Consumers in India were the keenest for British exports - they said they’d pay an 11.8% mark-up on products made in the UK.

Buffett worth $100bn

Warren Buffett has seen his personal net worth hit $100 billion (£72 billion) for the first time, after shares in his investment firm Berkshire Hathaway rose to a record high. It puts him in an exclusive club that also counts Elon Musk, Jeff Bezos, and Bill Gates as members.