BUSINESS EXTRA Charged up FINANCE

Booted out

BOOTS could be sold or floated by late 2023 as its US parent company is pressured into breaking up the global pharmacy giant. Owned by the Retail Pharmacy International Division of Walgreens Boots Alliance, its investors and board members want to speed up plans to refocus the business on the US.

Bank ranks

IBERCAJA and Caixabank have higher liquidity ratios (LCRs) than other Spanish banks, management consultants Alvarez & Marsal found. Spain’s banks all exceed EU requirements but Ibercaja’s 306 per cent ratio and Caixabank’s 284.2 per cent mean they have reserves for three months and 2.8 months respectively.

Meters matter

ENERGY companies in the UK used warrants to install 94,000 prepayment meters in 2022, with Scottish Power and British Gas ordering most. The government has now agreed with suppliers to halt forced installations amid concerns that rules to protect vulnerable households were not complied with.

Lucky middle

SPANISH salaries grew in 2022 in all categories, although rises were below the inflation rate of more than 8 per cent. Middle management posts benefited most with an average increase of 6 per cent, compared with 3.4 per cent for executives and 3.71 per cent for employees.

Factory closes

MORE than 100 workers lost their jobs after Kettle Interiors, a Corby (Northamptonshire) furniture business went into administration. The administrator cited “economic challenges” including increasing freight costs for the familyrun firm which sold furniture under different brand names to UK and European retailers.