• Ted Baker in UK cuts jobs as losses rise, Brexit looms

    UK fashion retailer Ted Baker cut 953 jobs because of losses in the first half this year resulting from the coronavirus-induced lockdowns, it said, warning of further pain from a potential no-deal Brexit. “Even with some of our legacy issues being amplified by COVID-19, our balance sheet is materially stronger than we had envisaged this early in the plan and operational cash flow will be positive for the full-year,” said chief executive Rachel Osborne. The pandemic compounded difficulties for the retailer, which has been hit by profit warnings, management changes and an accounting scandal since founder Ray Kelvin stepped down as chief executive officer in 2019 after misconduct allegations,…