Starter for 10: Think tank report urges Stephen Crabb to take on a Universal Challenge May 3, 2016 Stephen Crabb may just be settling into his new role as secretary of state for work and pensions, but a report published today is urging him to take on George Osborne and crew over universal credit. The study by think tank the Resolution Foundation warns that universal credit risks not meeting the goals it was proposed for if [...]
Employers rely on this many workers from elsewhere in the EU May 3, 2016 UK employers rely on a workforce made up of over one million EU workers, a study out today has found. According to the research by Adecco and the Social Market Foundation, there are 1.6m employees in the UK who hail from somewhere else in the European Economic Area (EEA) or Switzerland, which equates to around [...]
Health insurance in the UK is about to become more costly, but it could be worse – you could be shopping for a policy in Russia May 3, 2016 The cost of health insurance in the UK is expected to experience its biggest jump for the last five years, according to a report out today. The research by Willis Towers Watson found that health insurance costs were expected to grow by 6.5 per cent in the UK in 2016, which is one of the [...]
Challenging market conditions cause HSBC profits dip, but it could have been worse May 3, 2016 Banking giant HSBC has today revealed that its profits had slipped in its first quarter of 2016, kicking off the start of a week of earning announcements from notable names. Shares in the company were trading down 0.9 per cent at 448.4p shortly before 9:30am London time. The figures The bank announced an adjusted profit before tax [...]
Aberdeen Asset Management’s profits have gone south, as investor battles with emerging markets May 3, 2016 Profits for Aberdeen Asset Management have almost halved, it revealed in its half-year results today. Shares in the company were trading down 7.7 per cent at 275.7p shortly before 9:30am London time. The figures The investment manager reported profits before tax of £98.8m for its six-months ended March 2016, down 46.7 per cent from £185.4m the year [...]
Thumbs up: Fresnillo feeling confident about 2018, although further exploration might have to wait May 3, 2016 It may be a fair bit off, but miner Fresnillo has a good feeling about 2018. At the mining company's AGM later today, chairman Alberto Bailleres is expected to say: "Fresnillo remains a low cost producer, and given current and projected market prices for silver and gold, we remain confident in achieving our 2018 production targets. [...]
Live: The spring of shareholder discontent – Weir Group sees renumeration policy struck out, with only 27.6 voting in favour April 28, 2016 It's springtime, but executives may have felt a chill in the air as they headed off to their companies' AGMs this morning. Hermes Investment Management has said that it opposes the appointment of former chief executive Michael Dobson to the role of chairman at Schroders, remarking that such a move would undermine corporate governance. Although the measure [...]
Finance directors living in fear of pension schemes, particularly following BHS collapse April 28, 2016 Tata Steel and BHS are not the only companies with problematic pensions, as research out today has found that many finance directors have concerns about their own firm's retirement vehicles. The study by Hymans Robertson discovered that one in seven finance directors believe their company's defined benefit (DB) pension is a major risk, while the Pensions Policy [...]
Barclays thanks its shareholders for their patience and apologises for any inconvenience this turnaround period may have caused April 28, 2016 Barclays has today thanked its shareholders for being patient as the bank undergoes a turnaround period. In a statement ahead of the bank's AGM, chairman John McFarlane acknowledged that the last few years had been an "extremely difficult time for shareholders", and accepted that decision to slash the dividends for 2016 and 2017 last month would have hardly [...]
