Wage growth soars: What does it mean for the pensions triple lock? August 17, 2021 UK wage growth flew over the last quarter, indicating that the labour market recovered sharply from the worst effects of the Covid crisis as restrictions eased between April and June. However, what will this mean for the state pension triple lock? Under the policy, the state pension rises by whichever is highest out of inflation, [...]
Binance US appoints interim leadership after CEO’s abrupt exit August 17, 2021 Binance US, the American division of the world’s largest crypto exchange, has given a longstanding employee the top job after the former CEO’s abrupt exit. Earlier this month, Brian Brooks resigned from his role as CEO after just three and a half months. In a tweet Brooks, who was formerly the Chief Legal Officer for [...]
Cinderella may be sold to an American investor August 16, 2021 Andrew Lloyd Webber has said he will have to sell his musical Cinderella to an American investor if it is not able to open. Last month the world premiere of the new show was postponed until 25 August because of Covid-19 isolation protocols. According to media reports, Lord Lloyd-Webber said the production “can’t go on [...]
Two thirds of employers considering pay cuts for remote workers August 16, 2021 As many as two thirds of companies are considering slashing the pay of staff who are hesitant to return to the office. Up to 68 per cent of businesses are debating whether or not to introduce pay cuts for staff who choose to work from home, according to a survey by HR software provider CIPHR. [...]
Saudi Aramco sizes up private equity and sovereign funds for $17bn gas pipeline stake August 16, 2021 Saudi Aramco is looking to raise at least $17bn from the sale of a significant minority stake in its gas pipelines, sources told Reuters today. A sale that large for a slice of the pipeline deal would be higher than the $12.4bn raised from its oil pipeline deal. Potential bidders including North American private equity [...]
Willis Towers Watson names investment head Carl Hess as next CEO August 16, 2021 Insurance giant Willis Towers Watson today named company insider Carl Hess as its next CEO and president, three weeks after the collapse of its planned $30bn (£22.9bn) mega-merger with rival Aon. Hess, who currently heads up the firm’s investment, risk and reinsurance segment, will step into current CEO John Haley’s shoes immediately upon his retirement [...]
Cobham and Ultra Electronics reach £2.6bn deal with UK jobs guarantee to assuage ministers August 16, 2021 The boards of Cobham and Ultra Electronics have agreed terms of a £2.6bn takeover deal, that caused national security concerns for Business Secretary Kwasi Kwarteng last month. Cobham said the board at defence and engineering firm Ultra had backed backed the 3,500p per share that values it at £2.57bn. Shares in Ultra jumped out of [...]
Clipper Logistics offers 200 new jobs after John Lewis contract win August 16, 2021 Clipper Logistics today said it has signed a new contract with John Lewis which promises to create 200 new jobs. Clipper said it will provide additional e-commerce and store replenishment services to the UK department store chain from its new distribution centre. The Leeds-based company, which provides value-added logistics solutions, e-fulfilment and returns management services [...]
Three companies that are on major hiring sprees right now August 16, 2021 If you’re currently on the lookout for a new and exciting job, we have some pretty good news for you. We’ve noticed a real spike in the amount of jobs popping up on our brilliant job board lately. Incredible companies in London (and beyond, if you feel like a new adventure) are on hiring sprees [...]
Psychedelic medicines start up raises £58m August 16, 2021 An Oxford based company which uses psychedelic medicines to treat neurological disorders has completed an oversubscribed £58m funding round. Beckley Psytech today announced that their Series B financing round had to be upsized from $50m (£36m) to $80m on account of investor demand. The funding will be used to complete an ongoing trial which uses [...]
