Senior Barclays adviser elected as 691st Lord Mayor of the City October 1, 2018 Senior adviser to Barclays, Peter Estlin, has been elected as the 691st Lord of Mayor of the City of London. Estlin, who will take a sabbatical from his role with the bank, will succeed Charles Bowman on 9 November for a one-year term. The elected head of the City of London Corporation will act as [...]
Startups: Would-be entrepreneurs put off by ‘complexity’ of starting own business October 1, 2018 Thousands of young people are being put off from setting up their own businesses, putting Britain's startup revolution at risk, a report has warned. The Great British Enterprise Opportunity report, by former Bank of England economist Steve Hughes, also called for digital education to be prioritised by the government to give people the necessary skills [...]
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 [...]
More construction firms are entering insolvency since Carillion’s collapse October 1, 2018 The number of construction firms entering insolvency has jumped six per cent following the collapse of Carillion. The construction giant's liquidation caused knock-on effects for the whole industry supply chain in the UK, top 10 accountancy firm Moore Stephens said. Read more: Carillion redundancy payouts to hit £65m Figures from the government's insolvency services showed [...]
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 – [...]
Aston Martin staff set for cash reward as it gears up for IPO September 30, 2018 Aston Martin employees will be given one-off cash rewards to buy their own shares as the luxury car maker gears up to go public this week. Institutional investors, staff and customers will be able to by shares in its £5bn float from Wednesday, although private investors won't be able to deal in the shares until [...]
Sir Richard Branson “seconds from death” while climbing Mont Blanc September 30, 2018 Sir Richard Branson came “seconds from death” as rocks “the size of fridges” rained down on him while climbing to the summit of Mont Blanc. Branson was climbing with son Sam when “boulders the size of small cars” fell on the group. The billionaire businessman said he was “lucky to be alive” after diving behind [...]
Midatech narrows losses and sells US commercial arm as it pushes cancer treatments to market September 27, 2018 Midatech Pharma has narrowed losses as it pushes its cancer treatments to market and announces the sale of its US commercial arm to focus on R&D. The Alternative Investment Market-listed company reported that revenue for the six months to 30 June rose 17 per cent to £549,000 and pre-tax losses were down to £6.5m [...]
Sirius Minerals on track to complete Yorkshire mine but still chasing up to $600m September 27, 2018 Sirius Minerals expects to secure $3bn (£2.3m) funding towards its Yorkshire mine by the end of the year but is still exploring options to plug a cost overrun of up to $600m. The company, constructing a polyhalite mine under the North York Moors, said the project remained on track to be completed in 2021, [...]
BP wins approval for £200m North Sea project to produce 30m oil barrels September 27, 2018 BP has won approval for its £200m Vorlich project in the North Sea, which could produce 30m barrels of oil. The government-backed Oil and Gas Authority (OGA) approved the industry giant's development, which could now come on stream in 2020. BP expects the two-well development, 150 miles off the coast of Aberdeen, to produce 20,000 barrels [...]
