Metro Bank gets down to business, planning to increase its number of in-store managers by around a third January 17, 2017 Business banking is booming for Metro Bank, so much so that the challenger plans to increase the number of business bankers in its branches by around a third, or 30 per cent, in 2017. The bank, which opened its first branch in 2010, recently announced it was putting £1bn to one side to support business customers [...]
Technology and construction specialists are among London’s worst firms for recruiting apprentices January 17, 2017 London's technology and construction firms are the among the capital's worst employers for recruiting apprentices, according to a new report. The capital’s construction businesses recruit fewer apprentices than those in any other part of the country, while the growth of sites like Silicon Roundabout hasn’t been enough to stop the tech sector becoming the London’s second [...]
City financier Edi Truell puts forward new rescue plan for Tata Steel UK pension scheme January 16, 2017 A leading City financier is looking to join Tata Steel UK’s £15bn British pension scheme as a trustee and has set out an ambitious plan to revamp the pensions rescue plan. Edi Truell has sent an outline to current trustees proposing a merger between Tata Steel’s specialty unit with Sheffield Forgemasters, an advanced steel materials [...]
Tube talks between RMT, TSSA and London Underground adjourn as threat of further strikes looms over capital January 16, 2017 Negotiations aimed at averting more Tube strikes were adjourned today, leaving the threat of industrial action looming over the capital. Talks will resume on Wednesday between officials from the Rail, Maritime and Transport (RMT) union, Transport Salaried Staffs' Association and London Underground representatives, who met today at the conciliation service Acas. Read more: Here's when the [...]
Hard Brexit will need longer transition for businesses, City policy chief warns January 16, 2017 The Square Mile will need a longer transition if Theresa May pursues a so-called Hard Brexit, City policy chairman Mark Boleat has warned. Delivering a lecture at King’s College, Boleat said that any deal with the EU must include time for business to adapt. However, he added that the nature of the deal is more important than [...]
Ukip’s odds of winning the Stoke-on-Trent by-election just got slashed by Betway January 16, 2017 The odds of Ukip winning the Stoke-on-Trent by-election have been slashed on growing expectations that the party's leader, Paul Nuttall, will throw his hat into the ring. Ukip's odds of winning the Stoke-on-Trent Central seat have been cut from 11/4 to 9/4 by betting exchange Betway, while Nuttall is now 15/8 to be Ukip's name [...]
Bank of England governor Mark Carney claims stimulus package in August saved 250,000 jobs from being lost January 16, 2017 Mark Carney has been slammed by leading Brexiteers after claiming that 250,000 jobs could have been lost if the Bank of England had not taken action in the aftermath of last year's EU referendum. Bank governor Carney slashed rates to 0.25 per cent in August last year, while expanding the UK's quantitative easing programme and providing [...]
Welsh water bidding war heats up after activist locals attempt to block Severn Trent takeover January 16, 2017 An investment company is still hopeful of buying a Welsh water company, with angry locals seeking to block the rival bid in an unprecedented case of shareholder activism. FTSE 100-listed utility firm Severn Trent agreed an £84m, £18.25-per-share, takeover for Dee Valley Water in November. However, in a never-before-seen move, the deal was blocked last week [...]
Daily Mail publisher abandons national press project to take on advertising decline January 16, 2017 The publisher of the Daily Mail has abandoned a national newspaper project to pool advertising resources. Project Rio, formerly known as Project Juno, still involves the publishers of the Guardian, Sun and Daily Express among others. But Daily Mail and General Trust (DMGT) is now out, with the publisher said to hold concerns around legal [...]
Popcorn group Propercorn snaffles up £7m investment to help with UK and overseas expansion January 16, 2017 Gourmet popcorn company Propercorn has snaffled a £7m investment from JamJar Investments and Piper Private Equity. The fast-growing popcorn brand, founded in 2011 by Cassandra Stavrou and Ryan Kohn, will use the cash injection to support its plans for growth in the UK and overseas. Propercorn was advised on the investment by London law firm [...]