G4S sells Israeli arm as part of wider rationalisation push December 2, 2016 Security giant G4S has flogged its Israeli business to a local private equity firm in a cash deal worth £88m. It did not, however, mean the London-listed firm was walking away completely from Israel. G4S will continue to have a footprint in the country through its police training facility called Policity. Read more: Here's why [...]
Berkeley Group’s shares leap after announcing in-line performance and solid cash foundations December 2, 2016 Shares in property firm Berkeley Group jumped over four per cent in trading this morning after revealing an "outstanding" balance sheet. The figures Half year revenue to the end of October leapt from £1.1bn to £1.4bn, with gross profit jumping from £391m to £504m. Profit before tax was £393m, up from £293m last year. The coffers at [...]
Network Rail rakes in £1.4m from Victoria Station toilet as Southern strikes roll on December 2, 2016 The delays and disputes are bad enough. Now, City A.M. has found out that Network Rail is making 67 per cent more on its toilet in Victoria due to the Southern strikes. Network Rail owns the loos in Victoria station, which hosts the Southern train service. This year, Network Rail’s takings at the toilet have [...]
Public Accounts Committee: MPs raise concerns over HM Revenue & Customs’ annual performance December 2, 2016 A key parliamentary oversight committee has criticised the taxman's plans to cut costs and urged authorities to lead the way in combating the opaqueness of multinational corporations' tax affairs. The Public Accounts Committee (PAC) today revealed its conclusions within its annual report on HM Revenue & Customs (HMRC). Plans are being implemented by HMRC to cut costs by [...]
Has the plunging pound pumped up Bridgestone tyre prices? December 1, 2016 First the cost of a holidays abroad, then a pot of Marmite. Now the price of tyres is on the rise. One of Britain's best known automotive brands, Bridgestone, today said it would be increasing the price of its tyres. Read more: #Marmitegate: Tesco boss warns suppliers against hiking prices An extra three per cent would [...]
KPMG boss Simon Collins won’t be seeking re-election after five year tenure December 1, 2016 KPMG's UK boss will step down in March after five years at the helm of the accountancy giant. Simon Collins told fellow partners of his plans on Thursday and is expected to put his hat in the ring to step up and lead the global network of the firm, according to reports by Sky News. Read more: [...]
It’s good but it ain’t enough: Auto-enrolment numbers are a “tale of two halves” December 1, 2016 Auto-enrolment of workplace pensions is failing key sections of the workforce and needs to be "re-booted", according to industry experts. The department for work and pensions today released its annual report on the country's participation in the initiative, which was an attempt to "address the decline in private pension saving and to help normalise saving". [...]
Annuity rates have surged since the summer providing relief for customers on the hunt for fixed returns December 1, 2016 With annuity rates at rock-bottom levels and the cancelling of plans for a secondary market, it's been a tough year for retirees hoping to secure a decent fixed level of income. However, finally there is some relief as it was revealed annuity rates have jumped by 10.6 per cent since August. On a £50,000 cash [...]
FCA wants customers to shop around for the best bank interest rates and have revealed who gives the best returns on cash December 1, 2016 With interest rates at rock bottom levels we've all become accustomed to the fact we shouldn't expect much of a return from our bank accounts. And today, the UK's financial watchdog named and shamed the banks paying the lowest interest rates on cash savings accounts. Read more: City watchdog warns of asset management "market failure" [...]
Britain’s telecoms giants to be probed by Ofcom over landline pricing December 1, 2016 The UK's phone companies are exploiting vulnerable people by hiking landline prices even though their costs are falling. Regulator Ofcom delivered a damning verdict on the likes of BT and Virgin Media and announced plans of a detailed review of pricing to ensure customers get value for money. Read more: Ofcom will go to European Commission [...]
