Pulling a sickie: Bosses say more and more of us are taking a day off December 14, 2016 Pulling a sickie. Skiving-off work. An (unapproved) duvet day. There are a growing number of names for work absenteeism and Britain's businesses fear it is a growing problem. Over two-thirds (68 per cent) of Britain's businesses think more and more employees are taking an unearned day off, a practice that is costing UK businesses an average of £120,000 [...]
The $1bn sector: Audioboom is convinced splashing the cash in the US will be worth it December 14, 2016 Audioboom’s revenues jumped but losses were more than expected during the 12 months its boss said "would be the year that we proved our business model". The podcast firm revealed bumper fourth quarter revenues today, but negative earnings swelled as a result of increased costs from a strategic push to move operations to the US. [...]
Up a bit, down a bit: Last minute changes to Lifetime Isas prove they’re a bad idea, says former pensions minister December 14, 2016 A former pensions minister has hit out at the government's last-minute fiddling with Lifetime Isas, saying it is proof the initiative "has not been properly thought through". Steve Webb lamented the news the Treasury will scrap exit fees on Lifetime Isas in the first year of their existence. “This announcement is a further sign that the [...]
There may be trouble ahead: Dixons Carphone shares fall as it prepares for “uncertain times” December 14, 2016 Shares in Dixons Carphone fell 4.6 per cent in early trading after it said it was steeling itself for "uncertain times" in the months ahead. The figures Revenues in the six months to the end of October increased four per cent on a like-for-like basis to £4.9bn, it said in a statement today. Profit before tax [...]
Wells Fargo growth to be capped after failing key contagion test by US regulators December 14, 2016 US banking giant Wells Fargo has been slapped with restrictions on growing its business by US authorities after failing a key "living will" test. Regulators announced overnight the San Francisco bank had failed the test for the second time this year. The living will rules are supposed to satisfy authorities contingency plans are in place for a controlled wind-down [...]
Southern rail strike misery costs millions as 300,000 commuters left stranded December 14, 2016 The economy is facing a hit of tens of millions of pounds as 300,000 commuters are left stranded this week on the back of three days of walkouts by staff on Southern rail. Southern rail commuter services ground to a halt yesterday on a double whammy of walkouts by guards from the Rail, Maritime and [...]
Can Ofcom force through Openreach split? BT trustees believe it could bust pension scheme December 13, 2016 A BT Openreach separation could tip the telecoms giant's pension scheme into insolvency leaving a £10bn black hole, its pension trustees fear. Trustees voiced concerns in a redacted note responding to Ofcom’s proposals to legally separate the company that runs Britain’s telecoms infrastructure from the wider BT group. Because, according to the trustees’ note, a [...]
Authorities claim victory for pension savers but underline there’s still room for improvement December 13, 2016 Over a million Britons' retirement savings have been boosted by slashed pension charges, authorities revealed today. The Financial Conduct Authority (FCA) and department for work and pensions (DWP) hailed the news as "significant progress" but still felt there was more work to be done in reducing costs levied on retirement savings. Read more: This business sector is [...]
Chemring parachutes in the man who turned around Avon Rubber as its new finance chief December 13, 2016 Military manufacturer Chemring has secured the services of a permanent finance chief, snatching Andrew Lewis from small-cap engineer Avon Rubber. Lewis will replace interim finance director Andrew Davies, who was babysitting the vacancy left following Steve Bowers' departure this summer to take over the finance reigns at Australian law firm Herbert Smith Freehills. Read more: Fall in [...]
Exxon Mobil chief Rex Tillerson confirmed as Donald Trump’s secretary of state but President-elect delays business interest announcement December 13, 2016 The boss of the world's biggest oil company, Exxon Mobil, has been confirmed as President-elect Donald Trump's secretary of state. Rex Tillerson had been widely tipped for the role as America's top diplomat, though other figures such as former CIA chief David Petraeus and former presidential candidate Mitt Romney had also been considered. Read more: Yet another [...]
