BRC calls for a “demand-led and simple” solution for EU workers as UK faces workforce shortage October 9, 2017 Uncertainty over the UK’s position on immigration is creating a workforce shortage, the UK’s retail industry body has warned. New figures from the British Retail Consortium (BRC) suggest that uncertainty over the result of Brexit negotiations has already led some EU workers to leave the UK. The BRC’s latest report into the impact of Brexit [...]
Royal Mail strikes: It is time postal boss Moya Greene stepped into the limelight October 9, 2017 Barring an eleventh-hour U-turn, Royal Mail will today go to the High Court in a bid to delay a planned shutdown of Britain’s postal service, almost eight years to the day after the last one. The strike is over changes to pensions, pay and working conditions. We’ve seen a lot of the Communication Workers Union [...]
UK M&A deals tail off as post-Brexit vote reality causes sentiment to weaken according to EY October 9, 2017 After a post-Brexit spike, the number of mergers and acquisitions (M&A) in the UK has begun to tail off as deal sentiment weakens. According to EY, the volume of M&A deals completed in the first nine months of this year slipped by 11 per cent compared to 2016 to 2,316. On the flip side, the [...]
Slowing manufacturing output holds back UK economy October 9, 2017 Slowing manufacturing output continued to drag back the British economy in September, according to a index released today. Output across the UK economy dipped from an index reading of 100.3 to 99.9 last month, the output index compiled by accountants BDO revealed. That meant it dipped below the long-term growth trend, marked by a reading [...]
RBS chairman Howard Davies: Banks set to trigger Brexit contingency plans in March 2018 without details of transitional period October 8, 2017 The chairman of Royal Bank of Scotland has said he’s not concerned that the government has taken its “eye of the ball” when it comes to Brexit amid continued in-fighting in Theresa May’s government. But Howard Davies warned that “some” jobs at the bank will go and that the damage of leaving the EU on [...]
Is there life on Mars? Ministers say finding out is ‘at the core of our industrial strategy’ and give scientists £3m to fund research October 6, 2017 Ministers have today handed a bunch of space boffins £3m to try and find out if there really is life on Mars. The department of business, energy and industrial strategy (Beis) provided the money to 17 scientists, which are looking into “past and present life on Mars” as well as the presence of water and [...]
Jacob Rees-Mogg’s protest encounter makes him an unlikely trend-setter October 6, 2017 Whisper it, but Jacob Rees-Mogg might be onto something. The notoriously fusty Tory backbencher may be as trendy as a Victorian granddad, but after an encounter with a protester at a conference event, he may have set an example for politicians and business leaders everywhere. The Tory backbencher was interrupted during a fringe event at [...]
Corbyn’s robot tax would halt vital life-changing innovation October 6, 2017 The fear of change is nothing new. Charlie Chaplin’s classic film Modern Times – one of the last silent films of the era – is perhaps the most famous critique of technology and its perceived impact on modern society. When the film was produced in 1936, Chaplin wasn’t alone in his fear of how a [...]
Hedge fund Winton loses out as 2016 profits slump October 5, 2017 The computer-driven hedge fund Winton, founded by businessman David Harding, has suffered a year of losses according to accounts seen by Financial News. Pre-tax profits in 2016 more than halved, dropping by 53 per cent to £107.3m and hitting their lowest annual level since 2012. Meanwhile, revenues plummeted by 33 per cent to £267.2m In [...]
Secret Escapes handed keys for further expansion with $111m funding October 5, 2017 London-based travel startup Secret Escapes has raised $111m (£83m) in its latest funding round. The membership-based online travel booking platform now plans to ramp up its international expansion drive, eyeing acquisitions as it grows. “The cash injection of $111 million will enable Secret Escapes to achieve its vision to inspire the world to escape and [...]