Top companies readying plans for expansion July 5, 2015 The UK’s largest companies are planning to loosen their purse strings and fund expansion plans according to a survey of top finance chiefs published today. Expanding into new markets or introducing new products and services was seen as a strong priority for the next 12 months by 41 per cent of chief financial officers (CFOs), [...]
July Budget 2015: Pressure mounts on government to back a living wage July 5, 2015 Raising the minimum wage to the so-called “living wage” would lift 6m people out of poverty and generate more than £4bn of additional revenue, according to a new report out today from KPMG. The living wage, as defined by the Living Wage Foundation charity, is £7.85 per hour nationally and £9.15 in London. The national [...]
Business in Britain: London firms’ confidence dips against UK average July 5, 2015 Lloyds Bank today released figures showing that business confidence in London has fallen slightly against the national average. The biannual Business in Britain report surveyed 1,500 UK SMEs and found companies in London expected increased orders and profits over the next six months. However, limited growth meant the overall measure of confidence fell [...]
UK recruiters’ revenues reap the benefit of strong job market July 5, 2015 Recruitment firms are seeing income soar as a result of Britain’s booming job market. Fees earned from placing workers have risen for 83 per cent of recruiters this year, according to figures released today by the Association of Professional Staffing Companies (Apsco). Stronger business activity is leading many in the recruitment industry to consider expansion, [...]
Business group: UK will lose £31bn waiting for new runway July 5, 2015 A lack of airport capacity in London could cost the UK economy up to £31bn by 2030, according to a new report out today. The Confederation of British Industry (CBI) said that over the time it will take to build a new runway, the country could lose up to £31bn in trade because of a [...]
Wagamama hires retail veteran Allan Leighton as new chairman July 5, 2015 Asian restaurant chain Wagamama is set to appoint Allan Leighton as chairman, paving the way for further expansion overseas. The retail and leisure veteran, best known for turning around supermarket chain Asda, has had a prolific career chairing and advising companies including Royal Mail, the Co-operative Group, and retailers BHS, Peacocks and Pandora. [...]
CMA vs Ofgem: Competition watchdog to report findings from energy market review July 5, 2015 The Competition watchdog will publish the provisional findings of its energy market investigation tomorrow, in which it is expected to slam rival regulator Ofgem over a failure to promote competition in the market. The Competition and Markets Authority (CMA) began looking at the UK energy market in June last year, after a referral by [...]
Genel to name chief exec Tony Hayward as chairman July 5, 2015 Former BP boss Tony Hayward is expected to take up the role of chairman at Genel Energy, where he is currently chief executive, in a move that could fly in the face of corporate governance issues. Hayward, who left BP in the wake of the Gulf of Mexico oil spill, has led Kurdistan-focused Genel since [...]
Aim-listed companies leaving junior index hits three year high July 5, 2015 The junior stock market has had a net loss of 29 companies in the first two quarters of 2015 – its biggest for three years. The Alternative Investment Market (Aim) shrank by 27 companies in 2012 but even more left the index this year. Last year the market grew by four companies. Accountancy firm UHY [...]
Law firm mergers drop as partners focus on growth-driven takeovers July 5, 2015 Mergers between law firms decreased by 11 per cent last year, with the number of deals taking place in the UK dropping to 174 from 196 in 2013. This is 30 per cent lower below the 247 mergers seen in the industry in 2011. Finance provider LDF, which sponsored the research, said an increasing number [...]