Labour will tell major UK companies to hand 10 per cent of equity to workers September 23, 2018 The Labour party opened up a new front in its war with business last night, revealing a plan to force companies to put 10 per cent of shares into so-called "inclusive ownership funds". Workers could receive up to £500 a year from the funds, according to the policy. However, any additional revenues "will be transferred [...]
Labour opens new front in party’s war on business September 23, 2018 Labour's party conference is getting underway in Liverpool, and the various factions of the hard-left are already putting on a good show as they compete for control of the agenda. The trade unions used their voting power to block a bid by Momentum activists to force sitting MPs to face reselection challenges; members demanding [...]
Labour calls for workers to sit on company boards September 23, 2018 A Labour government would introduce laws requiring businesses to reserve a third of board seats for workforce representatives, party leader Jeremy Corbyn announced. Under the policy, revealed as Labour launched its annual conference in Liverpool over the weekend, employee directors would be elected by the workforce and paid at a level equal to other board [...]
Brexit secretary Dominic Raab rejects rumours of snap general election September 23, 2018 Brexit secretary Dominic Raab has ruled out general election in the autumn, saying rumours are "for the birds". The Sunday Times reported this morning that Theresa May's team was plotting a snap general election to shore up public support for her Chequers plan in the wake of her disastrous Salzburg summit in which EU leaders roundly [...]
Mike Ashley hits out at landlords as three House of Fraser stores set to close September 23, 2018 House of Fraser boss Mike Ashley has hit out at "greedy" landlords as he announced the closure of three department stores. At least 15 stores that were previously earmarked for closure have been saved, House of Fraser announced, however branches in Edinburgh, Hull and Swindon face being shut down. Sports Direct owner Ashley, who [...]
Labour leadership to ‘back members’ on second Brexit vote September 23, 2018 Jeremy Corbyn and his deputy Tom Watson have said they will back another EU referendum if party members call for one. The Labour leader said he would "adhere to" any decision made at the party's annual conference today in Liverpool. But he told the Sunday Mirror he was not specifically calling for a new vote. “What [...]
John McDonnell: Labour will nationalise railways within five years September 22, 2018 Britain's railways could be taken back into public hands within five years if Labour wins the next general election, according to shadow chancellor John McDonnell. Ahead of Labour’s party conference which starts tomorrow, John McDonnell told the BBC he was looking at the possibility of breaking clauses in contracts to allow rail franchises to be [...]
Brexit: Sterling falls further as Theresa May says UK-EU negotiations are at an impasse September 21, 2018 Theresa May said Brexit negotiations are at an impasse today, in a speech where she called for “respect” following Brussels’ snub to her Chequers plan yesterday. Her speech accelerated sterling's losses, with the pound dropping from 1.33 against the US dollar at the start of the day to 1.31 following her talk, and from 1.13 to [...]
Labour mulls break-up of Big Four accountancy firms September 21, 2018 The Labour party is weighing up radical plans to break up the Big Four accountancy firms, amid mounting pressure on the UK’s scandal-hit auditors. Shadow chancellor John McDonnell vowed to end what he described as a “cartel” among the country’s largest bean counters in the run-up to his party conference this weekend. “They have demonstrated [...]
M&C Saatchi: WPP needs ‘radical surgery’ for post-Sorrell future September 21, 2018 M&C Saatchi's boss has warned his firm is ready to swoop on rival ad agency WPP’s territory as Sir Martin Sorrell’s successor is busy performing “radical surgery” on the business. David Kershaw hailed surging earnings at M&C Saatchi, seeing revenue almost double to £215.4m after new accounting rules changed the way revenue from customer contracts [...]