Sir Philip Green sold BHS for £1 – but can the high street stalwart be salvaged? March 16, 2015 It’s a rare day when retail mogul and the official patron saint of lost causes Sir Philip Green decides to throw in the towel. The tycoon’s decision last week to back out of BHS after 15 years of ownership and offload it to a previously unknown group of investors for £1 set the City’s retail [...]
Business group slams Labour plan for enforced profit sharing March 16, 2015 POTENTIAL Labour party plans to force companies to share profits with staff have been slammed by the Institute of Directors as “counterproductive” and a deterrent to investment. The policy to force firms with over 50 employees to set up profit-sharing schemes in the style of John Lewis is reportedly being considered by Ed Miliband in [...]
Bankers to face new fitness test under FCA rules March 16, 2015 Financial services firms will be forced to vet thousands of staff each year and make sure they are “fit and proper” to perform their roles under a new framework being finalised by City regulators. The Financial Conduct Authority (FCA) and the Prudential Regulation Authority (PRA) will today publish the final proposals for a new regime [...]
London could see revolutionary skyscrapers that cast no shadow March 16, 2015 LONDON’S skyline is about to change dramatically as the only way to build is upwards. Hundreds of skyscrapers are being planned for the capital over the next decade and some fear that could cast a large shadow over the city. Now architects have come up with an innovative new building design however, which can regulate [...]
One in three 2015 retirees have no idea about pension changes March 16, 2015 Almost one third of people due to retire this year have not heard of the pension changes which are due to come into force on 6 April, research from retirement specialist Prudential reveals this morning. According to the company, the retirees who are aware that a broader range of retirement income options will be available [...]
Atom Bank’s chief Mark Mullen on using the Post Office to launch challengers March 16, 2015 Digital banking sounds super-cool. You can manage your money entirely on a smartphone and, if you choose a new challenger, stick it to the big banks at the same time. There is one big problem – where do you pay in cash? Atom Bank’s boss thinks shared hubs like the Post Office could be the [...]
MPs tell banks to invest more in services across Northern Ireland March 16, 2015 BANK customers in rural Northern Ireland are being particularly hard hit by branch closures, while banks are also failing to lend enough to small businesses in the region, MPs said today. Parliamentarians published a report asking if banks’ reluctance to lend to small businesses is also hindering Northern Ireland’s economic recovery. “The banks have assured [...]
Austere Greece? Not at the home of Yanis Varoufakis as seen in lavish Paris Match photoshoot March 16, 2015 Greek finance minister Yanis Varoufakis has built his reputation on a steadfast fight against tough austerity rules forced on his country. Clearly he doesn’t hold with them at home either – judging by a lavish spread in the French magazine Paris Match, showing the economist at a piano in his living room and dining with [...]
Gear4Music.com IPO: Online retailer considering float after record year of sales March 16, 2015 Gear4Music.com announced record sales of £24.2m in the year to 28 February, as the company gears up for its next stage of growth. The online musical instruments retailer is considering an initial public offering later this year and has appointed Panmure Gordon to investigate its strategic options. Gear4music’s revenue has more than doubled over the [...]
Bulk Powders bulks up revenue as sports nutrition company looks to expand March 16, 2015 Sports nutrition supplements company Bulk Powders is forecasting sales of £20m in 2015, after it more than doubled its 2014 annual revenue to £9.6m, up from £4.7m the year before. The Colchester-based business, which sells protein shake powder, fish jerky and recently launched its own line of gym clothing, was founded in 2006 by two [...]
