Fury as IR35 is confirmed in 2020 Budget March 11, 2020 The business community hit back at Chancellor Rishi Sunak after he confirmed that reforms to IR35 were going ahead in today’s Budget. IR35 is a change to Britain’s tax laws that will clamp down on avoidance by targeting contractors for companies who are, in practice, providing the same service as employees. The change is likely [...]
Europe goes to war on coronavirus March 11, 2020 The Italian government this evening ordered an effective shutdown of the country with a decree closing all shops, bars and restaurants save for grocery stores and pharmacists as it grapples with Europe’s largest coronavirus outbreak. Prime Minister Giuseppe Conte’s dramatic announcement is the latest step in a gradual lockdown of the Mediterranean country. On Sunday, [...]
Dow Jones closes in bear market as it plunges 1,400 points March 11, 2020 The Dow Jones has entered bear territory after plunging more than 1,400 points as investors panic over the coronavirus outbreak. The index dropped 1,464.94 points to 23,553.22, which means it is down 20 per cent from its recently set 52-week high. The benchmark S&P 500 closed 4.89 per cent lower while Nasdaq fell 4.37 per [...]
Budget 2020: Borrowing to jump while economy slows March 11, 2020 Chancellor Rishi Sunak’s Budget splurge will put a rocket under government borrowing, the UK’s spending watchdog said today in forecasts that do not include the economic hit from coronavirus. The government is now set to borrow close to £100bn more over the next four years than it planned to just a few months ago, the [...]
Barclays Canary Wharf worker tests positive for coronavirus March 11, 2020 A worker in Barclays Canary Wharf offices has tested positive for coronavirus, the bank confirmed today. In a statement, Barclays said: “We can confirm that a member of our staff based in our London office, five North Colonnade, has tested as positive for covid-19 today. The health and safety of our staff, customers and clients [...]
Disney shareholders approve executive pay despite backlash March 11, 2020 Disney has fended off a shareholder revolt over executive pay after a slim majority of investors approved the company’s controversial remuneration plan. A vote on executive compensation, which included outgoing boss Bob Iger’s $47.5m (£37m) pay packet for 2019, passed with 53 per cent of votes at the media giant’s annual general meeting today. Disney [...]
Balfour Beatty confirms delay to £200m share buyback due to coronavirus March 11, 2020 Shares in construction giant Balfour Beatty jumped today, despite confirmation it has scrapped a £200m share buyback. The confirmation comes after Sky News first reported the plan yesterday. Balfour Beatty posted a net profit, although it slipped from £135m in 2018 to £133m in 2019, a drop of 1.4 per cent. This was on the [...]
Marquees, team bonding and repetition: The secrets of a county cricket pre-season March 11, 2020 A month out from the start of the County Championship, players are beginning to ramp up their preparations behind the scenes. Pre-season has changed a lot since I began my career. In those days players were often on six-month contracts, meaning the off-season was left up to the individual. Players might go abroad to keep [...]
Budget 2020: Sunak pledges extra £175bn to ‘get Britain building’ March 11, 2020 New chancellor Rishi Sunak pledged to “get Britain building” in today’s budget, unveiling an additional £175bn in capital investment to “level up” roads, railways, housing and broadband across the country. The extra money, which forms part of Sunak’s much trailed £640m spending package, means that by 2024 annual expenditure will rise above £110m, triple the [...]
HSBC interim chief executive’s pay set to rise to £1.3m March 11, 2020 HSBC has revealed chief executive Noel Quinn will receive a 2.5 per cent pay rise, bringing his total salary to £1.3m, while finance boss Ewen Stevenson’s salary will rise to £741k. Last month, the bank unveiled a radical strategy overhaul alongside its annual results. Under the plans, HSBC will cut 35,000 jobs over the next [...]
