FTSE LIVE: Aviva to axe 1,800 jobs; Joules shrugs off retail blues with sales rise

FTSE CLOSE: Aviva to axe 1,800 jobs; Ford to close Bridgend plant; Fiat Chrysler walks away from Renault merger

  • Insurance giant Aviva to cut 1,800 jobs in a bid to save £300million  
  • Fiat Chrysler has shelved its ambitions to merge with Renault 
  • Sales at fashion firm Joules rose 17% to £218million in its last full year  

The FTSE 100 closed up 39.63 points at 7259.85 and the pound was at $1.27 against the dollar.

In a bombshell announcement today, insurance giant Aviva revealed plans to swing the axe on 1,800 jobs over the next three years as part of a £300million cost-cutting drive. 

Meanwhile Ford has confirmed it is to close its Bridgend factory within 15 months, putting 1,700 jobs at risk.

And upmarket fashion chain Joules bucked the retail blues with a 17 per cent rise in sales last year.  

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