Small firms sceptical of new dispute service as they face later payment July 12, 2015 The average delay in receiving payments faced by small businesses has risen to 72 days, according to new research published today by the Asset Based Finance Association (ABFA). It is a day longer than a year ago and 11 days longer than at the peak of the recession. “Despite the economic recovery gathering pace, payment [...]
Graze grabs a snack in stores July 12, 2015 ONLINE snack retailer Graze is to start delivering to stores as well as letter boxes after launching in 1,200 Sainsbury’s, Boots and WH Smith Travel stores today. Graze, which is majority owned by private equity group Carlyle, delivers snack boxes to thousands of customers in the UK and the US. Revenues grew by 31 per [...]
Burberry braced for another chequered shareholder meeting July 12, 2015 Burberry is expected to face another turbulent annual meeting this week, a year after investor advisory group Pirc urged shareholders to vote against chief executive Christopher Bailey’s “excessive” pay. The luxury fashion chain, which will hold its annual general meeting on Thursday, awarded Bailey a £7.9m pay package last year, including a £1m salary, a [...]
Dixons on track for strong first year of profits July 12, 2015 DIXONS Carphone is on track to post a strong rise in profits in its first full-year results since Dixons Retail and Carphone Warehouse merged to create a £5.1bn powerhouse last year. The electrical goods and mobile phone retailer is expected to report profits at the top end of its previously forecast range of £355m to [...]
British Buffett is in the Know July 12, 2015 WE MAY only just be getting over the General Election, but politicos are already gearing themselves up for the next battle – the EU referendum. Yesterday, a new eurosceptic group called The Know announced itself, backed by investor Jim Mellon. Trade is a key battleground topic in the Europe debate and pro-EU campaigners claim their [...]
CBI: Apprentice levy won’t fix skills crisis July 12, 2015 Britain’s top business group will lash out at the government’s new apprenticeships plan today, arguing that the move is “unlikely” to help fix the UK’s skills shortage. The Confederation of British Industry (CBI) publishes a survey this morning showing that over half of firms are afraid that they will not be able to find staff [...]
US confidence slump will not stop rates hike July 12, 2015 BUSINESS confidence in the US remains slumped, weighed down by a strong dollar and concern over the global economy. Bearish survey data, released by Markit this morning, adds to a string of weak economic data emerging from the US of late. Despite the negative outlook, however, Federal Reserve boss Janet Yellen insisted at the end [...]
New HMRC debt recovery powers that allow direct access to bank accounts slammed by taxpayer group as “flying in the face of Magna Carta” July 12, 2015 The Taxpayers’ Alliance (TPA) has slammed new HMRC debt recovery powers which they said “fly in the face of Magna Carta”. Under the new direct recovery rules, which were announced in the 2014 Budget and are yet to come into force, HMRC would have the ability to seize funds directly from bank accounts. In a [...]
Sikorksy helicopter deal ready for takeoff July 12, 2015 Lockheed Martin is the leading candidate to buy United Technologies’ Sikorsky helicopter unit in a deal that could value the firm at $8bn (£5.16bn), a source familiar with the situation said over the weekend. United Technologies last month said it was exiting the helicopter area and would either sell Sikorsky or spin it off, after [...]
Buyout gurus make venture charity push July 12, 2015 CVC Capital’s managing partner talks to Michael Bow about his plans for so-called venture philanthropy MENTION the words “business philanthropy” to most cynical people and their eyes will glaze over. The onslaught of charity gala dinners and community initiatives, however well intentioned, can arguably make philanthropic ventures indistinguishable from one another. CVC Capital’s managing partner [...]
