BT transfers 31,000 staff to Openreach in ‘final major milestone’ of separation October 1, 2018 BT today confirmed it had transferred 31,000 employees to infrastructure arm Openreach in what it says is the "final major milestone" in the legal separation of the two organisations. The move is believed to be the largest ever one-off people transfer in UK corporate history. BT also announced its Northern Ireland division has been rebranded as [...]
Danske Bank appoints interim chief exec after boss is ousted following €200bn money laundering scandal October 1, 2018 Danske Bank has appointed an interim chief exec after former boss Thomas Borgen left the firm following news of a €200bn (£177.8bn) money laundering scandal. Borgen announced his resignation last month, after an internal inquiry found that €200bn of payments, many of which Danske said were suspicious, had passed through its Estonian branch over an eight-year period. Its head of [...]
Business leaders voice growing concern over government striking good Brexit deal October 1, 2018 Business leaders voiced growing concern in the government's ability to deliver a good Brexit deal today as a survey revealed confidence had dipped to its lowest level in over a year. Releasing its quarterly Brexit Monitor, consulting firm RSM said just 39 per cent of business leaders thought the government could strike a 'good deal' [...]
CBI demands ‘change of tone’ on business from Tories ahead of Philip Hammond’s conference speech October 1, 2018 The boss of the Confederation of British Industry this morning said she hoped for a "change of tone" at the Conservative Party conference ahead of chancellor Philip Hammond's speech later today. Hammond is expected to say business remains at the centre of Tory policy when he addresses delegates on the second day of the conference. [...]
Aldi to expand into 130 new stores as sales rocket to £10.2bn October 1, 2018 German supermarket giant Aldi today announced major plans to open 130 new stores in the UK on the back of impressive sales growth last year. The expansion will create 5,000 new jobs in the UK, Aldi says, and is a big step on the way to the firm reaching its target of setting up 1,000 stores [...]
Conservative Party conference app flaw exposes phone numbers of MPs September 29, 2018 Boris Johnson and Sajid Javid's mobile phone numbers were among those revealed online yesterday due to major a security flaw in the Conservative party's conference app which allowed people to log into the accounts of MPs and journalists attending the event. Dawn Foster, a journalist, revealed an issue with the app on Twitter which lets attendees easily get into [...]
Former Manchester United and Chelsea chief exec Peter Kenyon in talks to buy Newcastle United September 29, 2018 The former chief exec of football clubs Manchester United and Chelsea is planning a sensational swoop to buy Newcastle United from retail tycoon Mike Ashley. Peter Kenyon, who now heads up a consultancy called Opto Advisers, has approached potential financial backers in recent weeks to raise cash for the deal. Sky News reported he was [...]
Ranked: The cheapest and most expensive countries to buy a second home September 29, 2018 For many, the thought of packing in the day job and moving to a place in the sun is a distant dream. But new analysis has revealed the cheapest countries in the world to buy a house for those wanting to pack up and move out of the UK. FairFX analysis found that Bulgaria is the [...]
Business secretary Greg Clark orders competition watchdog to carry out review of audit sector September 29, 2018 Business secretary Greg Clark has ordered the competition watchdog to carry out a sweeping review of the UK's audit sector. In a year when the Big Four audit firms have been hit by numerous scandals, Clark has told Andrew Tyrie, head of the Competition and Markets Authority (CMA) to carry out the review into competition in [...]
JCB digs up rising sales as firm hails manufacturing market rebound September 29, 2018 A market rebound led to manufacturing firm JCB digging up massively improved sales last year, the firm said today. Releasing a trading statement, the firm, which makes construction equipment and vehicles, said sales turnover rose 28 per cent to top £3.35bn in 2017. Earnings rose 19 per cent to £341m. JCB has 22 factories in [...]
