Ben Richardson, CEO at SulNOx, confident they can cost-effectively decarbonise commercial shipping. Watch the video here.

Less Ads, More Data, More Tools Register for FREE

Pin to quick picksMarks & Spencer Share News (MKS)

Share Price Information for Marks & Spencer (MKS)

London Stock Exchange
Share Price is delayed by 15 minutes
Get Live Data
Share Price: 255.80
Bid: 256.70
Ask: 256.90
Change: -3.90 (-1.50%)
Spread: 0.20 (0.078%)
Open: 260.80
High: 260.80
Low: 255.80
Prev. Close: 259.70
MKS Live PriceLast checked at -

Watchlists are a member only feature

Login to your account

Alerts are a premium feature

Login to your account

REFILE-UPDATE 1-Key Bangladesh garments factory destroyed in blaze

Fri, 29th Nov 2013 11:19

By Serajul Quadir

DHAKA, Nov 29 (Reuters) - A devastating fire ripped througha Bangladesh garment factory supplying major Western retailers,police and industry officials said on Friday, in a blaze set byworkers angered over rumours of a colleague's death in policefiring.

Garments are a vital sector for the South Asian nation,whose low wages and duty-free access to Western markets havehelped make it the world's largest apparel exporter after China.

But a series of deadly incidents, including a buildingcollapse that killed more than 1,100 people in April, hassparked global concern over weak safety standards in thecountry's $22-billion garment industry.

There were no reports of casualties in Friday's fire, whichgutted a ten-storey building at Gazipur, 40 km (25 miles) northof the capital, Dhaka.

But fire fighters were still battling to douse the fire infour nearby buildings, more than 15 hours after it had begunaround midnight on Thursday, after workers finished for the day.

"We are still struggling to control the flames," said fireofficial Mahbubur Rahman, adding that 22 fire service and civildefence units been thrown into the fire-fighting operation.

At the scene, a Reuters photographer said burnt garmentsstrewn on the floors bore brand names from U.S. retailers suchas American Eagle Outfitters Inc, Gap Inc andWal-Mart Stores Inc.

Other brands on the clothes included Li and Fung Ltd, Marks and Spencer Group PLC, Sears Canada Inc, Fast Retailing Co Ltd's Uniqlo andInditex S.A. brand Zara.

Nur-e-Alam, a senior manager of Standard Group, said thefactory had stored the next six months of its supplies for topglobal retailers, including Gap and Wal-Mart.

"We were the biggest supplier of Gap in Bangladesh," hesaid, adding "Our cargoes were ready for shipment and all thatwas burnt up."

The loss to the firm could run into more than $100 million,estimated another group official, who asked not to beidentified, saying the final tally could exceed his figure.

The factory was among the ten biggest in the country, said Mohammad Atiqul Islam, president of industry body theBangladesh Garment Manufacturers and Exporters Association,adding that the destruction could cost workers their jobs.

"Now all the workers are at risk of becoming jobless," hesaid.

As many as 18,000 people worked at the factory, its owner,Mosharraf Hossain, told Reuters.

A local police official dismissed as baseless the claim thata worker had died in the firing, adding that a group of workersassisted by nearby residents had set the fire.

"We are investigating to find out the reason for thisheinous act," said Mohammad Kamruzzaman, the officer in chargeof the Joydevpur police station that guards the area.

Police and witnesses said tempers flared following a mosqueloudspeaker announcement of a worker's death after police firedin the air to break up a road blockade by workers who hadearlier vandalized the factory and set two buildings on fire.

Police had to fire shots in the air to scatter the workersand let in fire fighters, Mushfiqur Rahman, another manager atStandard Group, told reporters.

The recent string of accidents in Bangladesh has put thegovernment, industrialists and the global brands that use thefactories under pressure to reform an industry that employs fourmillion people and generates 80 percent of export earnings.

More News
29 Apr 2024 17:13

Ocado pay policy opposed by 19% of votes cast at annual meeting

LONDON, April 29 (Reuters) - Some 19% of votes cast at Ocado's annual shareholder meeting on Monday opposed the online grocer and technology group's proposed new pay policy that could see boss Tim Steiner pick up a bonus share award of up to 15 million pounds ($19 million).

Read more
23 Apr 2024 12:00

LONDON MARKET MIDDAY: FTSE 100 pushes to new high; AB Foods surges

(Alliance News) - The FTSE 100 hit another intraday high on Tuesday, driven by data providing some "fresh optimism" about the UK economy.

Read more
23 Apr 2024 08:54

LONDON MARKET OPEN: AB Foods profit soars boosting interim dividend

(Alliance News) - Stock prices in London continued to build on Monday's gains early on Tuesday, thanks to sentiment boosted by the prospect of interest rate cuts.

Read more
23 Apr 2024 08:36

TOP NEWS: Grocery inflation eases again in April despite early Easter

(Alliance News) - Grocery price inflation eased further in April, aided by a significant increase in promotional spending, new data showed on Tuesday.

Read more
22 Apr 2024 17:21

London shares climb over 1%, M&A action lifts midcap stocks

FTSE 100 up 1.6%, FTSE 250 adds 1.1%

*

Read more
22 Apr 2024 16:58

LONDON MARKET CLOSE: New record close for FTSE 100 as war fears ease

(Alliance News) - London's FTSE 100 surged on Monday, with blue-chip equities supported by an easing of geopolitical worry, and hope that the Bank of England is getting a handle on UK inflation.

Read more
22 Apr 2024 14:54

London close: Stocks jump on weaker sterling, easing geopolitics

(Sharecast News) - London's financial markets closed in the green on Monday, with the top-flight index remaining near record highs by the close.

Read more
22 Apr 2024 11:33

Jefferies upgrades M&S, Next and Sainsbury's to 'buy'

(Sharecast News) - Jefferies upgraded its stance on a host of UK retail stocks on Monday.

Read more
22 Apr 2024 09:04

LONDON BROKER RATINGS: Jefferies raises B&M to 'hold'

(Alliance News) - The following London-listed shares received analyst recommendations Monday morning:

Read more
22 Apr 2024 08:49

LONDON MARKET OPEN: Hipgnosis jumps on Blackstone rival offer

(Alliance News) - Stock prices in London opened higher on Monday, as investors shook off nerves ahead of a key US inflation reading later this week.

Read more
19 Apr 2024 16:56

London close: Stocks mixed as investors watch Middle East newsflow

(Sharecast News) - London's stock markets closed in a mixed state on Friday as traders kept a close watch on escalating tensions in the Middle East.

Read more
17 Apr 2024 08:53

LONDON MARKET OPEN: Stocks mixed as UK data douses BoE cut hope

(Alliance News) - Stock prices in London opened mixed on Wednesday, with the FTSE 100 underperforming European peers, with a hotter than expected UK inflation reading lifting the pound.

Read more
16 Apr 2024 08:38

UK discounter B&M expects full-year profit at top end of guidance

2023/24 revenue up 10.1% to 5.5 bln stg

*

Read more
11 Apr 2024 15:56

London close: Stocks finish lower as ECB stands pat

(Sharecast News) - London's stock markets finished in negative territory on Thursday, as investors reacted to the European Central Bank's latest policy announcement and a producer price index release in the United States.

Read more
11 Apr 2024 08:59

LONDON BROKER RATINGS: JPMorgan raises M&S; HSBC likes Kingfisher

(Alliance News) - The following London-listed shares received analyst recommendations Thursday morning:

Read more

Login to your account

Don't have an account? Click here to register.

Quickpicks are a member only feature

Login to your account

Don't have an account? Click here to register.