Political hiatus will only exacerbate uncertainty and send a negative message to investors, says president of the Institution of Civil Engineers Sir John Armitt July 13, 2016 The political hiatus currently engulfing the country will send a negative message to investors, president of the Institution of Civil Engineers Sir John Armitt has warned, as he said the government must reassert its commitment to infrastructure. Armitt, a former chief executive of Network Rail, said the EU referendum outcome has left a cloud of uncertainty [...]
Pay row: M&S accused of threatening to sack staff who reject new contracts July 12, 2016 Marks & Spencer has become embroiled in a dispute over staff pay as it grapples with a sales slide in its clothing division. Chief executive Steve Rowe told shareholders at yesterday's AGM that the retailer faces "tough decisions" in the coming months. M&S is consulting staff over the axing of premium pay on Sundays, and cuts [...]
This isn’t a break with the past – it’s a revival of past ideas that don’t work July 12, 2016 We've just spent the last 43 years resisting the imposition of continental style corporate governance upon British companies. Now that we’re leaving the EU’s embrace, new Prime Minister Theresa May is advocating that we adopt them anyway. This is not, to be polite about it, a sensible move. Earlier this week, May vowed to put workers [...]
Payday lender Wonga to name new chief executive July 12, 2016 Payday lender Wonga is set to name a new group chief executive this week. Tara Kneafsey, currently head of Wonga’s UK consumer loans business, will take control of the wider business, a statement is expected to say today. Kneafsey joined the short-term lender in 2014 from RSA Insurance where she was a colleague of Wonga’s [...]
Jeremy Corbyn will be included on the ballot for Labour’s leadership contest automatically July 12, 2016 Jeremy Corbyn will be included on the ballot in Labour's leadership contest without requiring support from other MPs, Labour's National Executive Committee (NEC) has decided. The dispute over whether MPs' support would be required for Corbyn to run has intensified this week as Angela Eagle launched her bid for the leadership of the party. A [...]
The Leap 100: Does Brexit really mean business? July 12, 2016 Britain’s decision to leave the EU means taking a hit for The Leap 100. Sixty per cent say Brexit will impact their ability to grow in the short term. Long-term, that diminishes to 52 per cent, but the majority are still feeling the sense of uncertainty acutely. “We're waiting on further detail of what the [...]
YPlan’s co-founder Rytis Vitkauskas on pitching to Ashton Kutcher and how to secure other big-name investors July 12, 2016 Rytis Vitkauskas doesn’t strike you as the sort of person to court celebrities. The Lithuanian born co-founder of YPlan, the events discovery app, comes across as smart, focused and unostentatious. Nevertheless, YPlan has been remarkably successful at getting celebrity backers like Stephen Fry, Pharell Williams and Ashton Kutcher, and Vitkauskas spoke about this at a recent [...]
Why lawyers are in a tizzy over Article 50 July 12, 2016 Legal eagles have been making front page news after both solicitors and barristers have launched challenges to the way the government might take the UK out of the EU. Mishcon de Reya last week revealed that it was waiting in the wings to start a legal battle should the government trigger Article 50 without an appropriate Act of [...]
Raising finance carefully is more vital than ever post-Brexit July 12, 2016 There's no getting away from it: Brexit has been a shock to the system. Most entrepreneurs – particularly founders of fast-growing firms – wanted the result to go the other way, but they’re optimistic by nature, brushed themselves down and are getting on with business. There’s still plenty of waiting to come, though, with government and [...]
Bitcoin price jumps after remaining at steady level since halving event July 12, 2016 The bitcoin price jumped today to $669 by evening trading, after staying within a mostly stable range since the reward for miners fell 50 per cent last Saturday. On Saturday, the number of bitcoins generated by the digital process known as mining halved. Previously, bitcoins were released in blocks of 25, but they are now released in blocks [...]