Halfords names Jill McDonald new chief executive to replace Matt Davies March 23, 2015 Halfords has named Jill McDonald as its new chief executive, filling the saddle left empty by Matt Davies who's departing to lead Tesco's business operations in June. McDonald will leave fast food chain McDonald's where she is UK chief and president of North West Europe. The former marketing chief joined the restaurant business in 2006 [...]
Brexit could cost UK 2.2 per cent of GDP without radical free market reform and liberal immigration policy March 23, 2015 Britain's economy could take a hit of up to 2.2 per cent of GDP – or £56bn – by 2030 if it leaves the EU, according to a new report from think tank Open Europe. The report argues that in the worst case scenario, the negative effects of Brexit would not wholly be offset by [...]
City UK boss Gerry Grimstone: We’re not all bad apples March 23, 2015 Huge numbers of finance workers are unfairly bashed by politicians whose rhetoric mixes up the misbehaviour of a few bad apples with that of the honest majority, the head of a leading City lobby group said last night. Chancellor George Osborne hit the Square Mile hard in his Budget last week, raising several billion pounds [...]
CityFibre asks watchdog to level playing field after BT-EE merger March 23, 2015 High speed fibre optic firm CityFibre has attacked BT, saying its planned acquisition of EE would “stifle innovation” and “deliver little tangible benefit for consumers”. CityFibre revealed the objection this morning, saying that it submitted a formal complaint to the Competition Markets Authority (CMA) on Friday. The company demanded Ofcom be allowed to enforce extra [...]
MPs demand a change to rules over insolvency following City Link collapse March 23, 2015 The collapse of delivery firm City Link over Christmas shows the insolvency system is flawed and mistreats contract workers, two influential groups of MPs claimed today. It can be cheaper for firms to pay a fine for breaking the rules, rather than to give workers the proper notice of redundancy, the Business, Innovation and Skills [...]
Confederation of British Industry warns politicians: Don’t let election halt UK growth March 23, 2015 Britain’s biggest business group will this morning warn politicians against allowing post-election uncertainty to derail the country’s impressive economic growth. The UK is facing the tightest General Election in decades on 7 May, with many polls showing no party in line for a clear majority. And even if a coalition needs to be formed, the [...]
Variable mortgage deals rise as interest rate hike prospect wanes March 23, 2015 The fading prospect of an imminent interest rate hike prompted more mortgage borrowers to opt for variable rates during February than any month since November 2012, data from a mortgage broker today showed. One in 10 homebuyers and remortgaging homeowners chose variable rates in February, up from 8.6 per cent in January and the highest [...]
London rent price growth stalls as regions outpace the capital March 23, 2015 London rental growth is being outpaced by the regions after prices in the capital stalled in the three months to February, according to a survey out today. HomeLet’s Rental Index found that rent prices rose across seven of the 12 UK regions, with the north east and south west of England leading the way with [...]
Aldi aims to leave rivals in its wake by adding 60 new stores March 23, 2015 Discount retailer Aldi looks set to outpace the big four this year as it ramps up plans for further expansion by opening 60 new stores in the UK this year. While the chain opened its first UK outlet 25 years ago, it was not until the onset of the financial crisis – and the subsequent [...]
City boss Gerry Grimstone: The buck has to stop with board directors March 23, 2015 Who is to blame when a banker many tiers from the top of the firm misbehaves? The banker alone? Their manager? The boss of their division? The chief executive? It can be chaotic working out who should be punished in a vast organisation across dozens of countries and hundreds of thousands of workers. But there [...]