Tuesday business round-up: Six key stories of the day

Plexus is cutting jobs at the Pyramids Business Park near Bathgate
Plexus is cutting jobs at the Pyramids Business Park near Bathgate
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Here are six of today’s key business stories in one handy package.

About 100 job losses were announced at companies operating in Fife and West Lothian. Shopfitting and interiors group Havelock Europa set out plans to axe 50 jobs at its headquarters in Kirkcaldy, while US electronics manufacturer said it was cutting a similar number of roles at its plant near Bathgate.

The luxury Cameron House resort on the banks of Loch Lomond changed hands for the second time in 12 months. QHotels, which bought Cameron House from De Vere in November last year, agreed to sell the five-star venue to US private equity firm KSL Capital Partners in a deal understood to be worth about £70 million.

Logistics group John Menzies warned that its profits will be about £2m lower than previously hoped. The Edinburgh-based baggage handler and newspaper distributor said actions taken to address “operational issues” at Gatwick airport and meet its customer’s needs there would cost an extra £6m of investment.

Aerospace engines maker Rolls-Royce said it was seeking annual savings of up to £200m through a “major restructuring”. The group, which earlier this month downgraded its profits forecast for 2016, said the “painful” overhaul would include cuts among senior management and efforts to reduce its fixed costs.

The owner of All Bar One and Harvester signalled it may have to hike prices as it faces soaring staff costs from the national living wage. Mitchells & Butlers, which employs more than 44,000 workers, said it would look at ways to increase customer spend, including “tactical price opportunities” across some of its pubs and restaurants.

EasyJet cancelled flights to and from Sharm el-Sheikh until 6 January following the Russian airliner bombing. The low-cost carrier said it had made the decision to announce the continued suspension of flights to the Egyptian resort to provide certainty for customers planning their Christmas holidays.