Pension expert warns schemes are outdated October 13, 2013 UP TO 11m new pension savers risk slipping into poverty in old age due to poorly designed government-backed saving schemes, a major new report out today claims. Auto-enrolment schemes, which are currently being rolled out across the country, aim to recruit millions of young workers into defined contribution (DC) pensions, letting them invest in stocks [...]
Lawyers attack Cable’s claim he will get tough on bad directors October 13, 2013 INVESTIGATIONS into bad directors have been slashed, law firm Pinsent Masons said today, despite business minister Vince Cable’s promise to get tough on rogue bosses. Disqualifications of directors have fallen 30 per cent since the current government came to power, the lawyers say – just 920 were disqualified in 2012-13, down from 1333 in 2010-11. [...]
Ireland says it will exit bailout by December October 13, 2013 IRELAND will become the first Eurozone country to exit an international bailout in mid-December and may do so without a financing backstop from its European partners, the ruling party announced at a triumphant rally this weekend. Prime Minister Enda Kenny told a gathering of his Fine Gael party that “the economic emergency will be over” [...]
Serco could lose key Whitehall contracts following fraud probe October 13, 2013 OUTSOURCING firm Serco risks losing three major government contracts if it can’t improve its performance in six weeks. The Cabinet Office, the watchdog for government procurement, is currently investigating Serco’s Whitehall contracts after the company was hit with allegations of fraud in July after claims that it had altered records on the transport and tagging [...]
Versace suitors prepare bids October 13, 2013 FASHION giant Versace is being pursued by a host of suitors keen to bid for a much-coveted stake in the company. Several big private equity buyout names, including Ardian – formerly Axa Private Equity – Permira, KKR, Clessidra and Blackstone, are all considering bidding for the 15-20 per cent stake in the company. Italy’s state-controlled [...]
HS2 protesters take fight to the Supreme Court October 13, 2013 CAMPAIGNERS against High Speed 2 will take their case to the Supreme Court this week in their latest attempt the derail the transport project. The HS2 Action Alliance (HS2AA) and a group of local councils will tomorrow start their latest appeal against the decision to go ahead with the £46.2bn rail link, in a case [...]
Richard Branson defends his move from UK to Necker Island October 13, 2013 SIR Richard Branson insisted yesterday that his decision to leave Britain to live on Necker Island is not to save on his tax bill. The billionaire entrepreneur said he had lived on the private island for seven years, and that the move was motivated by a change in lifestyle rather than tax efficiency. Branson transferred [...]
Jump in City jobseekers as pay recovers October 13, 2013 THE NUMBER of jobseekers entering the market for a new position in financial services rocketed by more than one-fifth in September, according to data out today from City recruiters Morgan McKinley. A total of 7,082 new jobseekers came onto the market last month, up 21 per cent from 5,816 new entrants in August, the agency [...]
Tory chair Shapps wants to make the UK love capitalism October 13, 2013 Cutting the jobs tax will help UK Plc WHEN Grant Shapps was appointed Conservative party chairman last autumn, one of his first acts was to install a giant clock counting down to the 2015 general election. He wanted to focus party workers on the challenge ahead and now – with polling stations opening in just 18 [...]
Sainsbury’s to open dark store to meet online demand October 13, 2013 J SAINSBURY is to open its first dark store to support fast-growing demand for its online grocery service in London and the south east. The dark store – so-called because it is not open to the public and only fulfils online orders – will open in Bromley-By-Bow, east London, within the next few years, the [...]