Philip Hammond: Tory party ‘has business at its core’ October 1, 2018 Philip Hammond this morning sought to reaffirm the Tories as the “party of business” ahead of his Conservative Party Conference speech later today. He also tried to bolster business confidence about the prospects of the UK negotiating a Brexit deal with the EU, amid rising concerns over the possibility of the UK leaving the bloc [...]
US and Canada ease trade fears with last-minute deal to revamp Nafta October 1, 2018 Canada struck a dramatic eleventh-hour trade deal with the US and Mexico last night, putting an end to a year of tense economic negotiations in North America. In an effort to revamp the current North American Free Trade Agreement (Nafta), the three countries reached a trilateral agreement only hours before a midnight deadline, quelling threats [...]
CBI demands ‘change of tone’ on business from Tories ahead of Philip Hammond’s conference speech October 1, 2018 The boss of the Confederation of British Industry this morning said she hoped for a "change of tone" at the Conservative Party conference ahead of chancellor Philip Hammond's speech later today. Hammond is expected to say business remains at the centre of Tory policy when he addresses delegates on the second day of the conference. [...]
Hammond: Chancellor to step back from apprenticeship levy in conference speech October 1, 2018 The government will back down on its controversial apprenticeship levy today with a raft of reforms and a review into the scheme. Philip Hammond will announce the reforms to introduce greater flexibility for businesses and expand apprenticeship courses in science and other STEM subjects, in his speech at the Conservative Party Conference in Birmingham today. Read [...]
Labour’s plans to hand staff company shares could deter foreign investment in UK, warns law firm October 1, 2018 Labour's plan to force companies to give 10 per cent of shares to workers could deter foreign businesses from investing in the UK and spark legal challenges from across the globe, a top law firm has warned. Clifford Chance warned the proposal would “change the landscape” for foreign businesses planning to invest in the UK – [...]
Martin Sorrell says he regrets nothing months after leaving WPP amid allegations of misconduct October 1, 2018 Sir Martin Sorrell has said he has no regrets over his behaviour while in charge of WPP. The former chief executive left the firm in April after claims of personal misconduct, saying his departure was in “the best interest of the business.” In an interview with the BBC, Sorrell denied treating subordinates poorly, using company [...]
Pressure mounts on the CMA to break up accountancy’s Big Four October 1, 2018 The UK’s competition body has been told to “bare its teeth” and investigate breaking up the Big Four accountancy firms, as it prepares to announce a decision on whether it will investigate the sector. Three senior politicians from across the main parties have called on the Competition and Markets Authority (CMA) to find ways to [...]
Bumper summer and Booker buyout set to boost Tesco profits September 30, 2018 Tesco will be hoping to post strong first-half profits on Wednesday, as a blistering summer heatwave, successful World Cup run and a royal wedding are all likely to have boosted the firm’s performance. Consensus estimates compiled by S&P Global Market Intelligence show that earnings before tax (excluding exceptions) could hit £795m in the first six [...]
Character assassination: Business bosses are starting to realise that Twitter has a price September 30, 2018 It is not boardroom discord or tumbling profits that are causing mayhem for Elon Musk, the maverick and publicity-hungry Tesla chief who is set to lose his role as chairman. It’s his Twitter habit. His case exemplifies how Twitter, the social media platform that can send 280 poorly chosen characters right round the world in [...]
Raising stamp duty for foreigners won’t fix Britain’s housing crisis September 30, 2018 It can't be easy, being Theresa May. The Prime Minister faces constant battles on several fronts – grappling with negotiators in Brussels, rebutting opposition parties in Westminster, and fending off leadership plotters within her own ranks. Little surprise the domestic policy agenda can sometimes seem like an afterthought. Ahead of this week's Tory party conference [...]