KPMG to slash partner bonuses by up to 40 per cent November 24, 2019 Partners at KPMG are facing steep cuts to their bonuses as the accounting giant cuts costs in a bid to prepare for tighter regulation of its audit work. Partners’ bonuses – which can reach hundreds of thousands of pounds – are set to fall by as much as 40 per cent this year, according to [...]
Shoe retailer Clarks calls in consultants amid store closure fears November 24, 2019 Struggling footwear retailer Clarks has called in management consultants to conduct a review of the business. The family-owned business, which this month reported an £82.9m loss after tax for last year, has reportedly hired McKinsey & Co as it plots a restructuring plan amid fears of store closures. Read more: Taking the shine off: Clarks [...]
General Election: Conservatives surge in latest polling November 24, 2019 The Conservatives now lead by as much as 19 per cent in the latest election polling, with Labour failing to gain any momentum from its manifesto launch. Figures out today from Opinium/Observer have the Tories up to 47 per cent, Labour on 28 per cent, the Liberal Democrats on 12 per cent and the Brexit [...]
Boris Johnson to promise a ‘triple tax lock’ as Labour pledges another £58bn November 24, 2019 Boris Johnson will today pledge that a Conservative government will not raise income tax, national insurance or VAT in a bid to “put more money back in peoples pockets”. Johnson will make the announcement at the Tories’ manifesto launch today, where he will also commit to spend £3bn on a National Skills Fund to help [...]
Wework names four new executives and outlines six-point plan for profitability by 2023 November 23, 2019 Wework has named four men to take on executive roles at the firm and outlined a six-point path to profitability. The office-space operator said it will not be cash flow positive until 2023. Read more: New York State attorney general reportedly investigating Wework Executive chairman Marcelo Claure, told Business Insider the company’s attributes are in real [...]
EU members back tough stance on 5G suppliers in potential blow to Huawei November 23, 2019 European Union countries are endorsing a tough line on selecting 5G suppliers in a potential blow to market-leading telecoms equipment supplier Huawei. At a meeting in Brussels on Friday, ambassadors for EU states agreed to an approach which includes vetting the domestic legal framework 5G suppliers are subject to. Read more: Trump administration grants Huawei [...]
Amazon files lawsuit contesting Pentagon’s decision to award $10bn contract to Microsoft November 23, 2019 Amazon has filed a lawsuit contesting the Pentagon’s decision to award an up to $10bn cloud computing contract to Microsoft. A spokesperson for Amazon said the company had filed a complaint and supplement motional for discovery with the US Court of Federal Claims. Read more: Amazon to appear Pentagon’s decision to award Microsoft $10bn cloud [...]
GP plans to remove home visits ‘won’t wash’, says health secretary Matt Hancock November 23, 2019 Health secretary Matt Hancock has said GP plans to remove home visits from their contracts “won’t wash”. The majority of GPs supported a proposal to remove home visits from their contractual obligations at a Local Medical Committee (LMC) conference on Friday. A local committee of doctors from Kent, working with the British Medical Association (BMA) [...]
General Election 2019: Labour pledges 20 per cent property tax for foreign buyers November 23, 2019 Labour has pledged to put an extra 20 per cent levy on foreign companies buying property in the UK. The party has said it would charge firms and trusts from abroad looking to buy properties an additional 20 per cent on top of existing stamp duties and surcharges. Read more: General Election 2019: Jeremy Corbyn [...]
British Airways reaches agreement with pilots’ union to end pay dispute November 23, 2019 British Airways has reached a preliminary agreement with it pilots’ union Balpa to end the pay dispute that saw the first pilot walkout in the airline’s history. The two parties came to an agreement after holding talks under the auspices of the ACAS arbitration service, the union said on Friday. Read more: British Airways’ owner [...]