Watchstone shares jump 40 per cent after it settles Slater & Gordon fraud claim October 21, 2019 Insurance firm Watchstone and law firm Slater & Gordon have settled a long running fraud claim just hours before a nine-week High Court trial was due to begin. Watchstone’s shares jumped 45 per cent today to 156p after the settlement was announced. The claim dates from listed Australian law firm Slater & Gordon’s acquisition of [...]
Hey, big spender: Institute for Fiscal Studies boss Paul Johnson on the end of economic orthodoxy October 21, 2019 In the eight years Paul Johnson has been director of the Institute for Fiscal Studies (IFS), he has seen three prime ministers, two general elections and – so far – one Brexit referendum. Read more: Government almost matching Labour’s spending pledges, says IFS If that wasn’t enough, Britain’s political leaders have recently torn up their [...]
IFS boss: Labour’s spending pledges likely to push up taxes for average earners October 21, 2019 The director of the Institute for Fiscal Studies (IFS) has said Labour’s spending plans are likely to lead to higher taxes for those on average incomes. Read more: Hey, big spender: Institute for Fiscal Studies boss Paul Johnson on the end of economic orthodoxy In an interview with City A.M., Paul Johnson also said the [...]
Small firms call for major business rates overhaul Sajid Javid’s November budget October 21, 2019 Small businesses have called on chancellor Sajid Javid to make “radical business rates reform” a key part of the upcoming autumn budget to address the unprecedented slump in confidence among smaller firms. Read more: Remember, remember, 6 November: Sajid Javid sets date for 2019 budget Javid is planning to hold a budget on 6 November, [...]
Leisure spending jumps despite dip in consumer confidence October 21, 2019 Spending in the leisure sector jumped in the third quarter of the year despite a slump in overall consumer confidence driven by ongoing Brexit uncertainty. A boost in disposable income confidence, which was up one point year on year, helped to drive leisure expenditure as consumers favoured experiences over buying material goods. Read more: Consumer [...]
RBS retail chief to exit after ten years with bank October 20, 2019 Royal Bank of Scotland’s retail banking chief executive is preparing to leave the lender as new boss Alison Rose completes her senior leadership team. Les Matheson, who joined RBS in 2010 and became personal banking chief executive in 2014, is planning to leave the bank in the coming months, Sky News reported. Read more: Alison [...]
UK firms urged to review reward schemes October 20, 2019 British companies should reconsider their use of long-term incentive plans in favour of restricted share awards, according to recommendations by a management think-tank. Long term incentive plans are designed to boost performance, however the system has faced criticism as the rewards are often not tied to a company’s share price. Read more: Berkeley Group faces [...]
Metro Bank prepares to cut off chairman Vernon Hill’s expenses budget October 20, 2019 Metro Bank is deciding when to cut off chairman Vernon Hill’s £10,000 a month expenses budget, and could continue funding his lifestyle after he steps down. The challenger bank may stop Hill’s expenses account in December, when he is due to step down as chairman and leave the board. Read more: Metro Bank share price [...]
Rising costs threaten to scupper 4G Tube rollout plans October 20, 2019 Plans to roll out 4G mobile networks on the London Underground are said to be under threat as operators fret over soaring costs. Transport for London (TfL) has outlined plans to provide 4G access to passengers across the Tube network in 2020 after delaying the process by more than a year. Read more: London Night [...]
Extinction Rebellion patron buys stake in Heathrow Airport October 20, 2019 A billionaire backer of Extinction Rebellion has been revealed to have a stake in Heathrow Airport. Sir Chrisopher Hohn has clandestinely built a 4 per cent stake in Heathrow parent company Ferrovial worth €730m (£630m), according to the Sunday Telegraph. Read more: Ferrovial makes bid to take trio of Britain’s regional airports It was reported [...]