Thomas Cook’s chief exec says sorry to parents May 21, 2015 THOMAS Cook chief executive Peter Fankhauser finally came face to face with the parents of Bobby and Christi Shepherd yesterday after days of intense criticism over the firm’s handling of the tragedy. “Mr Fankhauser apologised to my clients for all the mistakes he and his company made over the last nine years,” confirmed Leslie Thomas [...]
Goldin and Hanergy bosses under fire as billions wiped off top Hong Kong stocks May 21, 2015 Two of the Hong Kong firms that had an as-yet-unexplained collapse of their share prices had business links, it was revealed last night. Goldin, a conglomorate dealing in horse breeding, wine and finance had HK$16bn (£1.31bn) wiped off its value when shares sunk yesterday. Subsidiaries Goldin Financial closed 43 per cent down and Goldin Properties [...]
Government minister George Freeman threatens food companies with sugar tax May 21, 2015 Sugary foods may be taxed to cover the costs of treating obesity, a government minister has said. George Freeman, the life sciences minister, said yesterday that food companies should know that if they produce food that could lead to poor lifestyles and ill health, they may face penalties. In doing so, Freeman contradicted health secretary [...]
Business rejects PM’s crackdown on immigration May 21, 2015 BUSINESS organisations have roundly rejected the Prime Minister’s latest calls for immigration reform. David Cameron said yesterday that the Queen’s Speech would include an immigration bill cracking down not only on illegal foreign workers, but also on the landlords, banks and employers who aid them. The Prime Minister also said that he would not “cave in” and [...]
Net migration hits a decade high as more people move to Britain May 21, 2015 NET MIGRATION to the UK jumped to 318,000 last year, according to figures released yesterday by the Office for National Statistics (ONS). The figure, which is up from 209,000 in 2013, marks the highest annual net migration to the UK since 2005, when it reached 320,000 in the 12 months ending June of that year. However, it [...]
Inequality bad for economy May 21, 2015 ECONOMIC growth is being held back by a rising gap between the rich and poor, the Organisation for Economic Cooperation and Development (OECD), a group of mostly rich countries, said yesterday. The richest 10 per cent of the population earn 9.6 times the income of the poorest 10 per cent. The OECD believes this is bad [...]
Jobs boost for young people May 21, 2015 THE UK’S economic recovery is reducing the number of young people who are not in education, employment or training (Neets). There were 943,000 Neets in the first three months of this year, according to figures released by the Office for National Statistics yesterday. It marks a drop of 45,000 or 4.6 per cent on the year. The [...]
Sterling climbs after rebound in retail sales May 21, 2015 THE STERLING rose sharply against the dollar yesterday on the back of stronger-than-expected retail sales, boosting confidence in the strength of the UK economic recovery. Retail sales rose 1.2 per cent in April on the month, the strongest increase since November, as the warmer weather boosted demand for summer clothing. The figures, released yesterday by [...]
Mothercare share prise rises as retailer hails first underlying UK sales growth in five years May 21, 2015 Shares in Mothercare rose 4.6 per cent yesterday as turnaround efforts under chief executive Mark Newton-Jones continued to pay off, with the retailer reporting its first full-year sales growth in five years. The child and baby products chain has had a tumultous year, in which it had to fend off a takeover offer from a [...]
Manufacturing growth boosted by a recovery in orders from abroad May 21, 2015 THE MANUFACTURING sector has expanded this month, helped by growth in exports despite a strong pound. Growth in output volumes bounced back from last month’s 22-month low, according to survey figures published by yesterday the Confederation of British Industry (CBI). A total of 34 per cent of the 501 manufacturers said output was up over [...]
