Pension trustees increasingly interested in alternative assets, but the overwhelming majority are also failing to establish the views of pension members November 12, 2015 NULL
Euro falls as European Central Bank boss Mario Draghi hints at more monetary stimulus November 12, 2015 The euro fell against the dollar this morning after European Central Bank boss Mario Draghi strengthened speculation that the Bank is preparing to fire yet another bazooka to kickstart the sluggish Eurozone economy. Speaking to the European parliament's economic and monetary affairs committee, Draghi said: "Downside risks stemming from global growth and trade are clearly visible." "Moreover, inflation [...]
BAE Systems to cut 371 UK jobs in Lancashire as it scales back Typhoon production November 12, 2015 BAE Systems is cutting 371 UK jobs, as part of plans to scale back its production of Typhoon fighter jets. In a trading update today the firm said it was cutting the jobs at its military air and information business "to ensure production continuity at competitive costs over the medium term". The majority of the [...]
Co-Op Bank given breathing space on capital requirements by Bank of England body Prudential Regulation Authority November 12, 2015 The Bank of England's Prudential Regulation Authority (PRA) has said the Co-Operative Bank does not need to issue more debt to cover its capital requirements this year. The Co-Op Bank was the only UK lender to fail the BoE's stress tests last year. The minimum capital ratio needed to pass the test was 4.5 per cent; [...]
Why migration is necessary to unlock European growth November 12, 2015 The “European model” that has provided security and prosperity across the continent has, for the first time, found itself seriously questioned by a combination of political, economic and fiscal threats. Welfare models across Europe are seen as no longer sustainable. Flows of migrants have accelerated to crisis point. Support for right-wing and nationalistic parties has [...]
Halfords turnaround plans steps up a gear after sales missed expectations November 12, 2015 Halfords is literally stepping up a gear on its plans to rebuild the company. The cycle business has just completed a three-year initial strategy called "Getting into Gear" – and is now replacing that with a new initiative called "Moving Up a Gear". See what they did there? The new strategy has five key "pillars": investing in [...]
Morrisons hires Post Office boss Paula Vennells as “restructuring” board strategist November 12, 2015 Could there be more changes in store for Morrisons? The struggling supermarket has hired Paula Vennells, the boss of the Post Office, citing her "restructuring" experience as being "invaluable". Vennells will join the board as non-executive director from 1 January. She is taking over from Johanna Waterous, who is leaving after six years. Vennells has been chief executive of [...]
Sex Discrimination Act anniversary: What is Romania getting right when it comes to diverse tech talent? November 12, 2015 I cannot help but think there is a lot we can learn from Eastern Europe when it comes to producing female talent for our technology industry. Today is the 40th anniversary of the Sex Discrimination Act being passed in the UK and in most industries, progress has been achieved. Not least there are more women [...]
Burberry beats expectations with flat profits and revenue November 12, 2015 Burberry has beaten expectations, staving off a challenging environment to post a marginal rise in profits and revenue. The figures The luxury brand nudged sales up from £1.1bn to £1.104bn for the six months to 30 September, while adjusted pre-tax profits rose from £152.2m to £152.9. UBS had estimated that profits would drop seven per cent [...]
UK house prices will rise by 25 per cent in the next five years as demand outstrips supply: Royal Institute of Chartered Surveyors November 12, 2015 House prices will rise by 25 per cent over the next five years, The Royal Institution of Chartered Surveyors has estimated, issuing another warning that supply is failing to keep up with demand. Properties sold at higher prices throughout the UK for the third consecutive month in October, with 49 per cent more chartered surveyors seeing an increase, [...]