Number of high street shoppers falls by sharpest level in two years May 16, 2016 The number of people visiting the high street dropped by its sharpest amount in over two years last month, as retailers said they faced a combination of bad weather and weak consumer confidence. Footfall at high street stores dropped by 4.7 per cent in April compared to the year before, according to the British Retail Consortium [...]
Your next big payrise isn’t due until 2020 May 16, 2016 Workers banking on a bumper pay boost might find themselves disappointed, as a report out today has found that payrises have ground to an almost halt and could stay that way for the rest of the decade. A survey of more than 1,000 employers by the Chartered Institute of Personnel and Development (CIPD) discovered that pay [...]
Profits at UK firms are at their lowest level since before the financial crisis May 16, 2016 Profits at the UK’s largest companies slumped to their lowest level in a decade in 2015, with turmoil in the banking and commodities industries weighing heavily on corporate performance. New analysis from the Share Centre, released today, shows that the FTSE 350 – the UK’s largest 350 listed companies – posted combined pre-tax profits of £84bn last [...]
Payroll tax errors bag the taxman an extra £737m May 16, 2016 Payroll errors are costing companies, particularly smaller companies, a pretty penny, research released today has found. According to the study by accountancy firm UHY Hacker Young, HM Revenue & Customs (HMRC) has bagged itself an additional £737m through investigations into slip-ups on payroll compliance, and over half (£373m) of that amount comes from SMEs. UHY Hacker [...]
Former pensions minister Steve Webb slams government for pensions dashboard failure May 15, 2016 British savers risk being left behind by the government's failure to engage with a new drive for a pensions dashboard, according to a former minister. As part of this year's Budget, the Treasury promised to ensure that the pensions industry designs, funds and launches a dashboard by 2019. However, former Liberal Democrat pensions minister Steve Webb, now [...]
RBS mulls sale of Williams & Glyn and NatWest May 15, 2016 Royal Bank of Scotland's advisers are reportedly weighing a shock move to divest both Williams & Glyn and NatWest, as the bank seeks to accelerate sell-off plans. According to the Sunday Telegraph, RBS advisers, Bank of America Merrill Lynch and Robey Warshaw, are weighing the NatWest move in a bid to ease tech problems behind the Williams [...]
Premier Foods to face investor fury after failed US deal May 15, 2016 Premier Foods is likely to be heavily scrutinised by investors this week for its failed US deal as it announces its full-year results. The share price closed at 39.25p on Friday but had peaked at 60.25p at the end of March as a result of repeated takeover approaches from US flavouring giant, McCormick. Although steadfastly defended [...]
Brokers ICAP to become NEX Group later this year after Tullet Prebon deal May 15, 2016 Trading firm ICAP is to change its name to NEX Group later this year, in an announcement set to be made on Monday, according to Sky News. ICAP is an electronic broker which specialises in wholesale trading for the likes of financial institutions rather than individuals. The name change signifies a shift in strategy for the [...]
Monsoon boss bags £27m dividend despite tumbling sales May 15, 2016 Monsoon boss Peter Simon has been paid a dividend of £26.9m, despite the retail chain reporting tumbling profits. In the UK, Monsoon, that also owns fashion chain Accessorize, recorded profits of just £847,000 for the year to 29 August 2015, down from £28m worth of profit recorded in the prior 12 months. Announcing the numbers, the retailer said last week [...]
Natalie Bennett to stand down as leader of the Green Party after four years May 15, 2016 Natalie Bennett is to step down as leader of the Green Party, according to the Guardian, as she hailed her achievements in making the party a force in national politics and said it was time to move aside. Bennett, who has been leader of the party since 2012, said she always intended to stand as [...]