Visas should be relaxed for entrepreneurs September 5, 2013 WIKIPEDIA founder Jimmy Wales has called on the government to make the capital more enticing to entrepreneurs by changing the rules on their visas. “I think we could go much further with [the entrepreneur visa], make it easier to get, make it possible to bring in more people. Those kind of things are quite critical,” [...]
Number of first time buyers up by 45 per cent September 5, 2013 THE NUMBER of first time buyers has swelled as the housing market begins to rebound, with LSL Property Services suggesting a 45 per cent increase in the 12 months to July. There were 26,100 people buying homes for the first time in July, up by over 8,000 through the year, with LSL’s figures suggesting that [...]
Gun firm Smith & Wesson hurt by factory shift September 5, 2013 GUNMAKER Smith & Wesson Holding last night forecast current-quarter results below analysts’ estimates as it expects to lose several days of production, sending its shares down more than four per cent in extended trading. The company, which reported a higher profit for the first quarter, said it expects second-quarter income from continuing operations of 20 [...]
Lloyd’s of London boss warns of flood of capital into insurance September 5, 2013 LLOYD’S of London chairman John Nelson last night issued a stark warning about the potential for a new financial crisis if the flow of investment funds into the insurance industry is left unchecked. Low yields on traditional bonds has led investors to seek new locations for their money such as catastrophe bonds, which are eating into [...]
Usmanov controlled Mail.ru sells down Facebook stake September 5, 2013 A COMPANY controlled by Russia’s richest man, billionaire Alisher Usmanov, has sold down a $528m (£338m) stake in US tech giant Facebook after the share price’s stellar rally this year. Usmanov, who is also a shareholder in Arsenal football club, sold 142m shares through his Mail.ru Group vehicle, which represents about 0.6 per cent stake, [...]
Swinson alters outsourcing law to boost firms September 5, 2013 BUSINESSES should find it easier to outsource staff after employment law reforms were announced yesterday – but the government has backed down a key part of their plan. The UK’s business transfer law – known as TUPE – had been criticised by companies for being more generous to employees than required by European law. At the [...]
Teachers to strike after failing to reach new pay deal with Gove September 5, 2013 BRITAIN’S leading teaching unions yesterday announced plans for a national strike in a dispute over the government’s attempt to introduce performance-related pay. The NUT and NASUWT announced plans for a rolling series of regional strikes during October, with a single day national walkout set to follow before Christmas. Teachers in London and the south east are set [...]
Beer shortage threatened by union walkout September 5, 2013 DRINKERS could be left without their post-work pint next Wednesday, after union barons yesterday announced plans to disrupt beer deliveries in a dispute over pay and conditions. Unite, Britain’s biggest trade union, said supplies to 30,000 drinking establishments would be affected when employees of distributors KNDL walk out for 24 hours. Draymen and warehouse workers believe that [...]
Business groups want action on infrastructure September 5, 2013 BUSINESS groups rallied around Sir John Armitt’s call to set out long-term spending on infrastructure yesterday, though the Treasury insisted that it is already making headway on major projects. The former Olympics boss recommended a new independent commission to take the politics out of the long-term oversight of roads, rail and engineering schemes. The British [...]
Legal aid competition scrapped September 5, 2013 THE GOVERNMENT yesterday scrapped plans to automatically award legal aid contracts to the lowest bidder, following an outcry by lawyers. Justice secretary Chris Grayling said he would scale back planned market reforms, which lawyers feared would see large outsourcers such as G4S take work away from high street solicitors who currently dominate the sector. Legal aid – [...]
