Blue Monday is behind us, and managers must learn there’s more to employee wellbeing than office pets January 22, 2019 Well done, everyone. The UK has survived yet another Blue Monday – allegedly the most depressing day of the year, according to a holiday company that came up with the idea in 2005. To mark the occasion, journalists across the UK were bombarded with pitches about Blue Monday and how to stay happy, upbeat, and [...]
Dyson to move its company headquarters to Singapore as Asian success rises January 22, 2019 British billionaire James Dyson will be moving the corporate office and tax registration of his vacuum business to Singapore. The firm said the decision was motivated by a desire to be closer to the eponymous brand's fastest-growing markets, and was unrelated to the UK's upcoming exit from the EU or any tax implications. James Dyson has been [...]
Davos: Citigroup CEO admits London focus will wane after Brexit January 22, 2019 Citigroup has warned that it will do less work in London after Brexit. Speaking at Davos today, chief executive Michael Corbat warned that the firm will move jobs to the EU in preparations for Brexit, adding that “the outcome is that we will be doing less there [London]”. Read more: Citigroup appoints new investment bank [...]
Government borrowing higher than expected in December but annual borrowing falls to 16-year low January 22, 2019 Government borrowing came in higher than expected in December as the UK received less money back from the EU. Public sector net borrowing climbed to £3bn in December, £300m higher than the same month in 2017 and more than the £1.9bn City economists had expected. The Office for National Statistics said this was partly due [...]
Mastercard slapped with €570m fine by EU antitrust watchdog over fee limits January 22, 2019 The European Commission has hit Mastercard with a €570.6m (£501.2m) fine for limiting the ability of banks to shop around for lower fee structures among member states. "By preventing merchants from shopping around for better conditions offered by banks in other member states, Mastercard's rules artificially raised the costs of card payments, harming consumers and [...]
Danske Bank faces shareholder action over money laundering scandal January 22, 2019 Danske Bank is facing shareholder action from investors seeking compensation over a €200bn (£175.6bn) money laundering scandal. IMF Litigation Funding Services, Njord Law and Quinn Emanuel allege that Denmark’s largest bank failed to disclose the scale of the crisis to investors, causing them to lose vast amounts of money. Read more: Danish minister says Danske Bank may [...]
Government refusal to extend pay gap reporting rules to Big Four branded ‘disappointing’ January 22, 2019 The government has been accused of letting the Big Four audit firms “evade reporting on their pay ratios” by excluding firms with their business model from new legislation. The government’s small business minister refused to say whether new rules on executive pay transparency would be extended to partnerships during a grilling by MPs today. Members [...]
Sports Direct and Intu strike deal to save four House of Fraser sites January 22, 2019 Four House of Fraser stores have been brought back from the brink of closure following a deal struck between Sports Direct and shopping centre landlord Intu. Last-minute talks between Mike Ashley’s sportswear firm and Intu Properties has led to department stores in Norwich, Thurrock, Gateshead and Nottingham being saved, having previously been earmarked for closure. More [...]
One in two FTSE 250 bosses has taken a pay cut since 2017 January 22, 2019 Chief executive pay has dropped at nearly half the UK’s top firms since 2017 but British bosses are still earning more than their European peers, according to a new report. Pay for FTSE 250 bosses fell as 48 per cent of firms listed in the index cut remuneration levels by 10 per cent on average. [...]
Volvo recalls over 200,000 cars worldwide as it discovers fuel pipes leaking into engines January 22, 2019 Volvo has recalled over 200,000 diesel cars over fears that fuel could leak into the engine, the company confirmed today. The recall, which affects 30,777 vehicles in the UK and 219,420 worldwide, comes after engineers found cracks in the fuel lines of several cars. In the company’s native Sweden it is recalling 37,000 cars, local [...]