Sports Direct is set to award around 2,000 members of its staff in shares worth more than £50,000 this summer after the retailer hit its profit targets. Under the retailer’s staff bonus share plan put into place in 2008, an average qualifying employee earning £20,000 a year will be awarded a bonus that could be worth more than £54,000 at Wednesday’s share price of 454.4p.

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John Lewis Partnership is expected to raise its staff bonuses of up to 16 per cent of their salary next week as the retailer’s profits go from strength to strength. The employee- owned UK partnership, which operates John Lewis department stores and Waitrose supermarkets, last year gave its 81,000 employees a bonus of 14 per cent from a pot of £165.2 million.

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Republic on Wednesday became the fifth major retailer to call in the administrators this year, having appointed Ernst & Young to take over running the business. The young fashion and apparel retailer, which operates 121 stores with around 2,500 members of staff, will remain open for business, as Ernst & Young look to sell the retailer as a going concern.

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Google has announced that it intends to relocate its UK headquarters to a proposed office complex in London, a complex which is expected to cost the company around one billion pounds to construct. The planned location of the development project is a 2.4 acre site between King’s Cross and St Pancras.

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Nokia has announced its plans to cut and outsource hundreds of its jobs in Finland as part of its on-going attempts to reduce costs. Nokia has now announced that it intends to cut 300 jobs from its information technology division in Finland. A further 820 jobs will be outsourced to Indian suppliers HCL and TATA.

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Taking pointers from stablemate Screwfix, B&Q this week launched a series of multi-channel initiatives designed to rejuvenate its approach to bricks-and-mortar stores. Project Darwin, a three-year initiative by parent company Kingfisher will see B&Q make a series of strategic changes to its multi-channel model, as it looks to compete for survival in the retail sector.

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John Lewis Partnership, the largest employee-owned company in the UK, is expected to announce a drop in its staff bonuses next week. According to the Independent, some 76,500 members of staff will receive a 16 per cent bonus of their annual salary on Wednesday, down two percent from last year’s pay-out.

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At least 450 jobs will go at Comet as the new owners of the chain work to keep the retailer on the high street. Hundreds of staff and support workers will lose their jobs in the wake of the changes made to the company, which will also see the electrical specialist change the way it delivers to households to cut costs.

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The supermarket giant has revealed plans to create 5,000 new jobs in a £500 million expansion programme this year. In a move which has already been welcomed by prime minister David Cameron, Asda has announced it plans to open 25 new stores, refurbish 43 existing outlets and invest in three new depots in 2012.

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More than 24,000 former employees of Woolworths will share a £67.8 million payout after a tribunal ruled the retailer had failed to consult with their representatives before making the staff redundant. The Employment Tribunal awarded the former staff compensation of 60 days’ pay, capped at the maximum allowable of £330 a seek, according to Usdaw, the shopworkers union.

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