Retailer plans to shut unprofitable stores as shopper numbers at airports fall amid Middle East conflict

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WH Smith has issued a profit warning after shopper numbers at its stores in US airports fell as a result of the war in the Middle East.

The retailer, which operates 1,200 outlets globally in airports, railway stations and hospitals, also announced plans to raise about £100m to strengthen its balance sheet, pay down debt, invest in technology and shut down unprofitable stores after “a downturn in trading conditions”.

Tech company received infrastructure relief as its five biggest UK divisions generate £32bn in revenues

Amazon’s main division in the UK was handed a £7.6m tax credit last year by HM Revenue and Customs, despite profits at the retail-to-streaming company surging by more than a quarter to £355m.

Amazon UK Services – which employs 66,000 staff, the vast majority of the company’s 75,000 employees in Britain – said it owed £9.1m in “current tax” last year.