Plans to end gazumping with binding agreements in house sales shake-up

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Plans to end gazumping with binding agreements in house sales shake-up 1 day ago Share Save Add as preferred on Google Rachel Clun, Business reporter and Kevin Peachey, Cost of living correspondent Getty Images Home buyers and sellers can expect an end to "gazumping" in a major shake-up aimed at speeding up housing sales. Legally binding sales agreements will be introduced earlier to stop buyers or sellers walking away at a late stage in the process without a legitimate reason. In England and Wales, buyers can currently be outbid at a late stage of the sale and chains can fall apart months into the process, causing huge frustration for buyers as well as being expensive. Previous attempts to improve the system have had limited success and few of the latest proposed changes will happen immediately. The planned reforms, first announced in October last year , will be introduced at the end of this Parliament in 2029. The changes include home buyers receiving more information abou...
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Swedish telecommunications operator Telia will cut 3,000 jobs in 2024


Swedish telecommunications operator Telia will cut 3,000 jobs in 2024 out of nearly 20,000 positions to save 2.6 billion Swedish kronor (230 million euros) per year, the company announced in a statement on Wednesday.**

The operator, present in the Nordic and Baltic countries, employed 19,370 people as of January 1st and will specifically cut 1,400 jobs in Sweden, where it employs 8,500 people, it said.

This restructuring "aims to make Telia simpler and faster in decision-making," said Patrik Hofbauer, the group's CEO, as quoted in the statement.

It should "also help grow our business and generate enough cash flow so that we can make the necessary investments and cover our dividend, as we remain committed to our dividend policy," he added.

A restructuring charge of 1.4 billion kronor will be recorded in the accounts for the second half of this year.

"Telia already holds strong positions in its markets," explained the operator, which nonetheless sees "opportunities to further increase efficiency and simplify its structure to become faster in decision-making and commercial execution."

Finland (635 jobs), Lithuania (400), and Norway (245) will be the three other countries most affected by these job cuts.

Last year, the operator reported a 3.7% increase in revenue to 88.8 billion kronor, with a net profit of 900 million kronor.




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