The Spectator

Portrait of the week | 24 May 2018

issue 26 May 2018

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Marks & Spencer announced plans to close 100 of its 1,035 shops by 2022, hoping to move a third of its sales online; the costs of the plans brought its annual profits down by almost two-thirds, to £66.8 million. Govia Thameslink Railway, which runs Great Northern, Thameslink and Southern, cancelled 160 trains, 7 per cent of the total, the day after it changed all its timetables. Northern trains were also affected. Chris Grayling, the Transport Secretary, announced that, as expected, his department would run the East Coast Main Line until 2020, after the franchise holders, Stagecoach and Virgin, pulled out of their agreement. BP suspended work on a well in the Rhum field in the North Sea, co-owned by a subsidiary of the Iranian state oil company until the effect of United States sanctions was established.

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