Currys PC World owner Dixons Carphone is to cut 800 jobs as part of an overhaul of its store management structure.

The company said the shake-up will see it create a "flatter management structure" as it adapts to increasing online sales.

Dixons Carphone said it will remove retail manager, assistant manager and team leader roles, introducing new sales manager, customer experience manager and operational excellence manager positions in stores.

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The group said it will also create opportunities for staff to join its ShopLive personal shopping service, where customers are advised by sales staff from home via video-link.

It comes months after the technology retailer announced plans to shut all 531 of its standalone Carphone Warehouse mobile phone stores in the UK, with the loss of 2,900 jobs.

Dixons Carphone's chief operating officer Mark Allsop said: "We remain committed to our stores as part of an omnichannel future, where we offer the best of online and stores to our customers.

"This proposal will ensure in-store roles are focused on giving a seamless customer experience and exceptional service across all our customer channels, whether online or in-store.

"Sadly, this proposal means we have now entered into consultation with some of our store colleagues.

"This was not an easy decision and we'll do everything possible to look after those colleagues we can't find new roles for, financially and otherwise."

Diageo has seen its half-year profits almost halve after it was hammered by the closure of pubs and bars in the face of the coronavirus pandemic.

Shares slid in early trading after it revealed that operating profits dived 47% to £2.1 billion in the year June 30, as it was also hit by a £1.3 billion write-down across its operations in India, Nigeria, Ethiopia and Korea.

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Total sales fell by 9% to £11.8 billion for the year despite being boosted by growth in sales in North America.

Kathy Mikells, chief finance officer of the company, told the PA news agency that sales in the US were "resilient" as shoppers continued to buy tequila and other spirits to drink at home.

She said: "It was a year of two distinct halves due to Covid-19.

"But we did see improvements continue through the fourth quarter, with sales moving higher in April, May and June, so we are confident in our current position."

The company said that European drinkers have recently turned increasingly to rum, which saw sales jump by 3%, on the back of strong sales for Captain Morgan.

Ivan Menezes, chief executive of the company, said: "Through these challenging times we have acted quickly to protect our people and our business, and to support our customers, partners and communities.

"The actions we have taken to strengthen Diageo over the last six years provide a solid foundation to respond to the impacts of the pandemic.

"We are now a more agile, efficient and effective business."

The AA could be taken back into private ownership after being approached by three parties vying to snap up the motoring business.

Shares surged after it told investors on Tuesday that it is in talks with suitors as it looks to reduce its £2.6 billion debt pile.

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The breakdown specialist said it has received approaches from Platinum Equity Advisors, Warburg Pincus International, and a joint bid from Centerbridge Partners Europe and TowerBrook Capital Partners.

It said that each party indicated that any offer would see a "significant amount" of new capital being injected into the group to cut its debts.

However, the firm also stressed that there is no certainty that any offer will be made for the business.

Trading has been "resilient" throughout the pandemic and it expects that its financial performance for the current financial year will be "only slightly below" the last full-year.

John Leach, chairman of the company, said: "Following a significant improvement in the underlying performance of the business over the course of the last few years under Simon's (Breakwell) leadership, the board has been proactively considering a range of potential refinancing options from a position of relative strength and ahead of its upcoming debt maturities in 2022.

"The AA is a high-quality and robust business, with an iconic brand, a resilient business model and a highly committed and loyal workforce.

"However, in order for us to be able to achieve our full potential, the board believes that it must now prioritise reducing the group's indebtedness to provide the business with the right long-term capital structure - which we hope the current refinancing process will achieve."

Shares in the company rose by 13.6% to 28.4p in early trading.

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