Mothercare axes 200 head office roles to hit savings target October 31, 2018 Mothercare has axed 200 head office roles as the struggling business aims to meet a £19m cost-savings target. Net job losses will total 150, with 50 new roles being created as part of the restructuring process. Staff were informed of the cost-cutting proposals, which were first reported by Sky News, this morning. The Watford-based parent and [...]
City delivery driver numbers to be slashed in bid to cut air pollution October 30, 2018 The City's governing body is planning to crackdown on the number of delivery drivers operating in the Square Mile as it moves to reduce air pollution. Developers will work with the transport, delivery and servicing industries to contribute to freight transport consolidation measures, the City of London Corporation announced as it launched its City Plan [...]
Proxy adviser Pirc tells shareholders to oppose Go-Ahead’s remuneration policy update October 30, 2018 PROXY adviser Pensions and Investment Research Consultants (Pirc) has recommended that shareholders oppose Thameslink owner Go-Ahead's payment policy over fears that director pay outs could be excessive. Under the proposed changes to the bus and train company’s variable remuneration scheme the “maximum potential opportunity” could be 300 per cent of chief executive David Brown’s base [...]
Sports Direct buys Evans Cycles, but Mike Ashley to close 30 stores October 30, 2018 Evans Cycles has been sold to Sports Direct as part of a pre-pack administration. Around half of the cycling shop's 60 stores will be forced to close, Sports Direct owner Mike Ashley said as he announced the deal. Ashley commented: "We are pleased to have rescued the Evans Cycles brand. However, in order to save the [...]
Uber returns to court to fight ruling that defines drivers as employees October 30, 2018 Uber took its fight against a tribunal ruling that judged that drivers are employed by the ride-hailing app to the Court of Appeal today. The business relationship between Uber and drivers is “typical of the private hire industry", a court heard this morning, as the company attempts to overturn the 2016 employment tribunal finding. Uber, which claims its [...]
Fuel duty frozen for ninth year in a row October 29, 2018 Fuel duties will be frozen for the ninth year in a row, the government announced today. The continued freeze on the tax added to the price of petrol has saved the average car driver more than £1000 since 2010, Chancellor Philip Hammond said this afternoon. "We will freeze fuel duties for the ninth successive year… …bringing [...]
Online betting company duty to increase by six per cent October 29, 2018 The levy applied to online betting companies will increase to 21 per cent as fixed odd betting machine stakes are reduced to £2. The remote gaming duty applied to "online games of chance" will be upped by six per cent from October next year, Chancellor Philip Hammond confirmed in the Autumn Budget today. "From remote [...]
HMRC to be made preferred creditor in tax avoidance crackdown October 29, 2018 A range of measures designed to crackdown on tax avoidance and evasion with a view to raise £2bn over the next five years have been announced by the government. HMRC will be made a preferred creditor in insolvencies, Chancellor Philip Hammond announced today. The government will end the practice of purchasing services through offshore countries and introduce a [...]
Government to ban private finance initiatives for future public sector projects after Carillion collapse October 29, 2018 The government will abolish the use of private finance initiatives (PFI) to fund future projects, chancellor Philip Hammond announced today. The announcement in Hammond's Autumn Budget, the last before Brexit, comes after the collapse of construction giant Carillion put the controversial funding model in the spotlight. "We will honour existing contracts, but the days of the public [...]
UK’s biggest care home provider Four Seasons Health Care to be sold October 29, 2018 Four Seasons Health Care has been put up for sale in a bid to pay off debt owed to US hedge fund controllers H/2 Capital Partners. H/2 effectively controls the UK’s largest care home company, which is still owned by private equity veteran Guy Hands’ Terra Firma. Four Seasons’ parent company Elli Investments notified the [...]
