Number of UK strikes up 45 per cent in last year December 9, 2019 The number of strikes in the UK rose 45 per cent last year, due in part to a growing number of protests over zero-hour contracts. According to data from law firm EMW, there were 96 cases of direct action across the public and private sectors in 2018/19, up from 66 in 2017/18. Read more: Rail [...]
Wet weather dampens November retail footfall figures December 9, 2019 Wet weather and the anticipation of Black Friday deals dampened retail footfall figures last month, according to the latest research. Footfall declined 3.4 per cent in November, compared to a drop of 3.2 per cent in the same month last year, as shoppers held out for Black Friday bargains. Read more: Retail footfall down 10 [...]
London luxury hotel market booms as weak sterling attracts tourists December 9, 2019 The London luxury hotel market has boomed in the last year as the fall of sterling against the dollar has attracted a surge in international tourists, new research showed. In total, 50 new luxury and premium hotels have opened in the UK in the last year, growing the number to 3,380. Meanwhile the number of [...]
General Election 2019: The Tory battle to regain Battersea and Kensington December 8, 2019 A little over a month ago, things looked bleak for the Conservative Party in London. With most of the party’s resources being directed towards Leave-supporting areas in the Midlands and the North, and the Liberal Democrats heavily targeting pro-Remain seats in the capital, it seemed possible that a clutch of west London seats could turn [...]
Saga to sell care operations under Elliott break-up threat December 8, 2019 Travel and insurance company Saga today put its care business up for sale, under pressure from activist US hedge fund Elliott Advisers. The FTSE 250 firm is working with accountants Grant Thornton on the sale of live-in care brands Patricia White’s and Country Cousins, which brought in £4m in revenue last year and have 1,500 [...]
Investors gear up for Park First legal battle December 8, 2019 Investors in an alleged £230m parking space scam are due to meet this week to plot a legal battle against the founders of the collapsed firm in a bid to seize control over its administration. According to a report in The Sunday Times, investors in the unregulated scheme, many of who are pensioners, are meeting [...]
New buyers on standby for British Steel if Jingye deal falls through December 8, 2019 Business secretary Andrea Leadsom has reassured the steel industry that back-up buyers are ready to swoop in for British Steel should Chinese firm Jingye’s deal fall through. Last month the Insolvency Service confirmed that Jingye would purchase British Steel’s Scunthorpe plant, along with its Teeside and French assets, for £50m, in a move that will [...]
Exclusive: Chilango eyes restaurant closures as it prepares to launch CVA December 8, 2019 Chilango is considering shutting some of its restaurants as it fights to avoid administration. The stricken Mexican chain will launch a company voluntary arrangement (CVA) as soon as tomorrow, ahead of a crunch meeting with shareholders next week. Read more: Questions over Chilango’s future after burrito chain calls in restructuring firm RSM The controversial restructuring [...]
Softbank’s second Vision Fund set to come in underweight December 8, 2019 The giant Japanese investment fund Softbank is dialing down its ambitions for the second of its Vision Funds after failed bets on firms such as Wework and Uber dragged the company to its first quarterly loss in 14 years. Softbank’s first Vision Fund two years ago raised around $100bn (£76bn) from backers including the Saudi [...]
RBS under fire over fake reviews for new app December 8, 2019 Natwest-owned Royal Bank of Scotland (RBS) has come under fire for writing fake reviews of its new online banking app Bó. Eagle-eyed users noted that a string of five-star reviews, some of which were published months before Bó’s 27 November launch, praised the app for features including design and notifications system. Read more: RBS launches [...]