Chinese boom fuels jump in global deals March 29, 2015 A wave of mergers and acquisitions (M&A) is on the way this year, driving a hiring boom in the City and shaking up industries across the globe. A combination of ultra-low interest rates and increasing confidence in the economy has encouraged firms to buy up rivals. And firms which see little room for organic growth [...]
Alliance Trust braced for more personal attacks March 29, 2015 The battle between Alliance Trust and activist investor Elliott Advisors is set to get more tense and bitter in the coming weeks, with both sides rallying supporters ahead of next month’s annual general meeting. Elliott wants to appoint three new directors to the investment group’s board, arguing the FTSE 250 firm needs more industry experience, [...]
Employees expecting weak pay rises could risk economic recovery, economist warns March 29, 2015 Employees are anticipating a year of weak pay growth, a set of new survey data shows, with one economist warning it could hamper the UK’s economic recovery. “The survey data indicate that there are clearly few signs of pay growth picking up in 2015. This is a major concern as the sustainability of the economic [...]
Job market swings in workers’ favour as vacancy numbers soar March 29, 2015 The number of job opportunities grew strongly in February, new figures show. Professional recruiters had 21 per cent more vacancies in February than a year ago, according to data released today by the Association of Professional Staffing Companies. Permanent vacancies across engineering, IT, and finance and accounting rose by 25, 27 and 12 per cent [...]
Banks: Hurting us hits jobs all across the UK – not just the City March 29, 2015 Banking jobs are spread right across the country, rather than just in London, the British Bankers’ Association (BBA) said yesterday, challenging the myth that finance only benefits the City. Edinburgh, Leeds and Birmingham each have more than 10,000 bankers. Manchester is close behind, with just under 10,000, and a range of other cities from Bristol [...]
Crunch time for troubled Serco Group as vote on proposed rights issue looms March 29, 2015 Shareholders in troubled outsourcing firm Serco will vote today on a proposed rights issue, aimed at raising £550m. The company’s shares dipped by over 30 per cent in the hours following the announcement of its plans in November, which came along with a profit warning for 2014. Serco stated at the time that it would [...]
John Cridland to quit top lobbyist post at the CBI March 29, 2015 The Confederation of British Industry (CBI) is looking for a new boss, as its director general John Cridland plans to step down after five years at the top. The business lobby group began advertising for a replacement yesterday. Cridland has spent his entire career at the CBI, joining straight from university as a policy adviser [...]
Accountants call for a cut in national insurance contributions March 29, 2015 Accountants have put a reduction in employers’ national insurance contributions (NICs) at the top of their election wishlist. Cuts to NICs were seen as the highest priority for tax cuts with 49 per cent of accountants favouring a reduction, according to figures released today by Bloomsbury Professional, a tax and accounting information group. The second [...]
Marks & Spencer patches up sales at clothing arm March 29, 2015 Marks and Spencer is expected to report an improvement in sales at its general merchandise arm as the retailer recovers from its recent warehousing debacle and thanks to fewer clothes being left on the shelves. Citi, joint broker to M&S, expects the high street chain to report a 0.1 per cent decline in underlying sales [...]
London rents more than double UK average as high property prices lift sector demand March 29, 2015 Rents in London rose by eight per cent in February compared with the same month last year, as high property prices forced more people into the rented sector. For the UK as a whole, average rents increased by seven per cent in February compared with last year, figures released by estate agents Barnard Marcus show [...]