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Rolling coverage of the latest economic and financial news, including Christmas trading updates from some of Britain’s biggest retailers

John Lewis: bonus at risk as profits shrink
John Lewis department stores struggled over Christmas
MD Paula Nickolds quits unexpectedly
Tesco and M&S did better

9.05am GMT
Another surprise departure: Willie Walsh is quitting as boss of International Airlines Group, the firm behind British Airways.
It’s not a Paula Nicholds-style shock, though -- Walsh had been expected to leave by 2021. But it ends a long stint running BA, including several bruising clashes with staff and a historic pilots strike last year.
Related: Willie Walsh to stand down as boss of British Airways owner
8.51am GMT
What’s the solution to John Lewis’s woes?
Simon Neville of PA reckons it should recruit namesake Dave Lewis, once he departs Tesco.
It would not surprise me one bit if Dave Lewis didn't fancy a tilt at the now-vacant John Lewis job
If @amazon could sort it, they should buy John Lewis and Waitrose from the partners. The brand name alone (plus Edgar everywhere) would be marvellous for them. Continue reading...