Tesco to cut up to 10,000 jobs amid overhaul February 15, 2015 Tesco could cut up to 10,000 jobs as part of a radical overhaul by chief executive Dave Lewis aimed at halting a slide in profits. Britain’s biggest supermarket, which employs around 314,000 staff, announced plans last month to save £250m a year by axing 43 unprofitable stores, shelving 49 new projects and closing its [...]
Alix Partners swoops for Zolfo Cooper’s European operations February 15, 2015 US advisory firm Alix Partners is on the verge of agreeing a deal worth just under $100m (£65m) to buy the UK and European division arm of rival Zolfo Cooper, it emerged yesterday. The New York-based Alix Partners had booked a board meeting for yesterday to approve the deal, which could be completed as early [...]
Boris Johnson will not run for President as he vows to renounce American citizenship February 15, 2015 Boris Johnson has ruled himself out of the running for one top political job – President of the United States. Johnson was born in New York, making him eligible for the Presidency, and holds dual nationality, but says he will give up his American passport. The London mayor said: “The reason I’m thinking I probably [...]
Reshoring could bring £15bn lift to UK economy February 15, 2015 BRINGING the manufacturing of goods back to the UK, or reshoring, could add £15.3bn of GDP to the economy by 2025 as the advantages of the developing world lessen. Over 315,000 new jobs could be created for the country as the labour, transport and regulatory costs of producing goods in places like China and Thailand [...]
Apple hires BBC DJ Zane Lowe as tech giant bolsters its Beats team February 15, 2015 Veteran BBC Radio 1 DJ Zane Lowe is heading to the US to join the growing music team at iPhone-maker Apple. Lowe, who joined Radio 1 in 2003, will join Apple next month following his last show on 5 March. “The station has allowed me to share incredible music with the country’s best music fans. [...]
Revamped Institute of Directors finds its voice in time for general election February 15, 2015 With its grand architecture, and seemingly arcane rules, the Institute of Directors (IoD) has often felt more like a gentleman’s club than a political body. However, under director general Simon Walker, the renowned business institution is getting a bit of a shake-up. Previously characterised as a rather safe organisation, the IoD has been far more [...]
Germany’s anti-euro AfD party nears first seats in western state February 15, 2015 THE EUROSCEPTIC Alternative for Germany (AfD) party appeared close to winning its first seats in a regional parliament west of the country yesterday, signalling a growing threat to Chancellor Angela Merkel’s conservative party which suffered a big defeat. Exit polls from the city-state elections in Hamburg showed the AfD just above the five per cent [...]
Divide in workforce as half of firms either hike or freeze pay February 15, 2015 Almost half of the UK workforce had their pay frozen or reduced last year while the similar proportion enjoyed a two per cent hike or more in their salary, according to figures out today that lay bare the increasing divide in the market. The latest labour market outlook from the Chartered Institute of Personnel and [...]
Pinnacle design destined for scrapheap February 15, 2015 NEW DESIGNS for the Pinnacle tower in the City are being drawn up as its owners prepare to sell the ill-fated site, where work ground to a halt three years ago. A consortium led by French fund manager Axa is said to be close to buying the scheme from Arab Investments and Sedco. PLP Architecture, [...]
Games and toys lead growth in manufacturing February 15, 2015 THE PRODUCTION of cars, games and toys helped drag the UK’s factory industry towards a steady rate of growth as it recovered from the economic downturn, data reveals today. Production totalled £355bn in 2013, marking a 3.7 per cent rise on production in 2012, according to figures from Santander Corporate and Commercial and the Office [...]
