Manufacturers face worst staff scarcity since 1989 after Brexit leads to exodus of EU workers January 3, 2019 Manufacturers are struggling with the worst drought of workers in 30 years, as fewer EU workers come into the country in the wake of the Brexit vote. Labour shortages in the sector are at their worst since 1989, according to research, with Brexit-related uncertainty partly to blame. A report by the British Chambers of Commerce today [...]
Shortlist Media losses double as it closes men’s print magazine in shift to digital January 3, 2019 Shortlist Media, the publishing group behind Shortlist and Stylist magazines, saw its pre-tax losses double last year as it looks to shift its advertising revenue away from print. The company reported pre-tax losses of £8.6m in the year to the end of March 2018, with turnover rising marginally to £22.9m from £22.6m the year before. [...]
US pharmaceutical company Bristol-Myers Squibb to buy cancer drug developer Celgene in $74bn deal January 3, 2019 US pharmaceutical firm Bristol-Myers Squibb will buy cancer drug research company Celgene Corporation in a cash-and-stock deal valued at $74bn (£58.87bn), the company announced today. Shares in New York-listed Bristol-Myers Squibb fell around 15 per cent in pre-market trading on the announcement, while Celgene's stock soared more than 30 per cent. The merged company will have [...]
EU competition watchdog approves Coca-Cola’s merger with Costa Coffee January 3, 2019 The EU’s competition watchdog has given the green light to Coca-cola’s £4bn acquisition of Costa Coffee. The merger, which was announced in August, is expected to complete in the first half of this year. In a statement today the commission said: “The Commission concluded that the proposed acquisition would raise no competition concerns because the [...]
Co-op to open 100 food stores in 2019 in push towards convenience January 3, 2019 Co-op has confirmed it is to open 100 food stores this year as part of a £200m push to improve its convenience offering. The new locations will come in addition to the refurbishment of 200 stores across the country as part of an investment programme it says will create around 1,500 new jobs. Around one-third [...]
TfL has the worst gender pay gap of all of City Hall’s agencies, new data reveals January 3, 2019 The gender pay gap at Transport for London (TfL) grew to 21.5 per cent last year – the only City Hall body to have seen an increase in the difference between men and women’s average hourly earnings. Last year the gender pay gap at TfL, which is chaired by London mayor Sadiq Khan, increased by 1.8 [...]
Record digital sales of The Greatest Showman boost UK home entertainment market January 3, 2019 Hit movie The Greatest Showman helped the UK home entertainment market grow by 10 per cent in 2018, new figures have revealed. The popular musical, which stars Hugh Jackman as the head of a circus troupe, was the best-selling film of the year, with more than 2.7m copies sold. A majority of the film's sales [...]
Eurozone bank lending rate quickens despite growth concerns January 3, 2019 Bank lending to eurozone households and companies accelerated in November despite signs the bloc’s economy is slowing, the European Central Bank said. Corporate loans grew four per cent year-on-year in November, compared with 3.9 per cent the previous month and loans to households grew to 3.3 per cent from 3.2 per cent in October – [...]
Ex-Virgin Money boss among two women replacing men on Bank of England’s financial policy committee January 3, 2019 Former boss of Virgin Money Dame Jayne-Anne Gadhia has been added to the Bank of England’s financial policy committee alongside the chair of the Banking Standards Board Dame Colette Bowe, chancellor Philip Hammond announced today. The pair will replace Richard Sharp and Martin Taylor, who are stepping down at the end of the first quarter [...]
Seven skills to help you beat the January blues January 3, 2019 The run-up to Christmas is full of bonhomie, parties and cheer, but the weeks afterwards can often seem empty and dreary, with months of winter still to get through. We’re all at risk of the blues, with that crucial third Monday of January – Blue Monday – being the worst day of all. So here [...]