Workers in top job cities see rents outstrip higher salaries January 12, 2014 YOUNG workers moving to cities with better job prospects are paying whopping extra rental charges, outstripping the effect of higher pay in more prosperous areas. An average income in London is £460 higher per month than in England generally, but a typical one-bedroom flat is £648 per month more expensive to rent, draining away the [...]
Genel founders on the verge of £100m payout January 12, 2014 NAT ROTHSCHILD and five other founders of Genel Energy are edging closer to receiving a bumper bonus payout, if shares continue to reach record highs. The billionaire financier and other founders – who include former BP chief Tony Hayward – will receive around £100m in total, if shares in the Kurdistan-focused oil explorer close higher [...]
Gores close to taking a slice of Hovis from Premier Foods January 12, 2014 PRIVATE equity company Gores Group is eyeing up a slice of bread brand Hovis as part of its parent company’s restructuring efforts, according to reports. Current owner Premier Foods hired Ondra Partners several months ago to look at options for the bread company, and Gores is seen as the frontrunner to become a partner in [...]
Chinese shoppers boost Ferragamo January 12, 2014 Travelling Chinese shoppers snapping up leather goods will drive sales growth in 2014 at luxury group Salvatore Ferragamo, its chief executive said yesterday, before it showed a menswear collection aimed at promoting its Italian heritage. Michele Norsa said the group had closed 2013 in line with its expectations, but that it was important to wait [...]
British firms order Scania trucks January 12, 2014 Scania has received an order for 1,500 trucks from British transport companies Eddie Stobart and A.W. Jenkinson Forest Products, the Swedish truck maker said yesterday. The order, Scania’s biggest in Britain ever, will be filled over two years and follows a new joint-procurement agreement between Scania and the two companies, Scania said in a statement. [...]
Accenture picked for Obamacare January 12, 2014 Accenture has been chosen to replace CGI Federal as the lead contractor for the Obamacare enrolment website, which failed to work when it launched in October for millions of Americans shopping for health insurance, the US Centers for Medicare and Medicaid Services announced over the weekend.
Firms say skills gap keeping EU youth workless January 12, 2014 DESPITE crushing levels of youth unemployment, many European businesses say they struggle to find appropriately skilled young workers for vacant places, raising questions about educational systems in the EU. A report released today by management firm McKinsey shows that some of the countries with the most significant youth unemployment crises also have major skill shortages [...]
Business records top quarter for growth in 12 years as 2013 ends January 12, 2014 THE LAST quarter of 2013 saw the biggest jump in business activity recorded in over a decade, as a major survey of firms suggested that the economic climate has warmed across the country. Lloyds Bank’s purchasing managers’ index (PMI) for England and Wales hit 60 in December, with a score over 50 indicating an improvement [...]
Value of trading in Aim shares up 30 per cent after new rules January 12, 2014 THE VALUE of investors’ trading in Aim stocks has shot up nearly 30 per cent since August, after the shares became eligible for inclusion in Isas. Since August 2013, when the change occurred, the average daily value traded in Aim stocks has risen 29 per cent to £127.6m, with a high of £148.4m in October, [...]
No pay rise for two thirds of staff last year January 12, 2014 TWO THIRDS of workers did not see a salary increase during 2013, with little growth in pay following the decent economic growth during the second half of the year. Figures published by careers website Reed today add to the mounting evidence that workers are not yet feeling the effect of the recovery in their pay [...]