Southern discomfort: Train operator only delivered 70 per cent of services on time August 9, 2016 The train operator at the centre of what is set to be the longest strike on the railways since the 1960s has seen the punctuality of its services plunge to just 70 per cent, new figures show. During July, Southern's operator Govia Thameslink only delivered 70 per cent of services on time across its franchises according [...]
Meggitt share price leaps on news of second major investor increasing stake August 8, 2016 Activist investor Elliott Management increased its position in Meggitt this morning driving up the share price of the struggling engineer nearly nine per cent. Elliott is the second major investor in Meggitt shares over the last few days. Norges Bank took a three per cent stake on Friday and Elliott, who had already built up a considerable interest [...]
The growing gap in payment terms between SMEs and larger businesses is threatening survival August 8, 2016 The gap between how long it takes large and small businesses to be paid by customers continued to grow with SMEs waiting almost double the length of time as their larger counterparts. Small businesses now have to wait an average of 71 days compared to the average of 38 days for larger businesses according to data [...]
Consolidation is the name of the game for Mike Ashley as he see revenues increase by 20 per cent August 7, 2016 Mike Ashley's businesses generated nearly £3bn of revenues during the year to April 2015 latest filings at Companies House have shown. The Newcastle United owner consolidates his business operations into MASH Holdings Ltd – a company in which he is the sole shareholder. Its financial statements were filed on 27 July 2016. Ashley took out further lending [...]
Losses increase at Fitness First as owners pour in more cash August 7, 2016 Operating losses at Fitness First spiked nearly six times for the year to October 2015 according to recently filed accounts. The Poole-based operator burnt through £25.7m of cash during the year, offset by drawing down on £47.5m of loan facilities. "Over the past three financial years, cash flows have been significantly impacted by the capital refurbishment programme, [...]
More or less? What needs to be done to get control of Britain’s pension scheme deficits August 7, 2016 Even before last Thursday’s interest rate cut, pension deficits were at record levels with the total gap between assets and liabilities for Britain’s companies estimated at a mind-boggling £390bn. The rate cut exerted further downward pressure on gilt yields – a key determinant in pension liability valuations – meaning that the gap is likely to grow further. [...]
Bank rate cut: Property investment crowned winner while savers lose out August 5, 2016 The Bank of England launched a massive stimulus package yesterday in a bid to save Britain from recession. The Bank’s monetary policy committee (MPC) voted unanimously to slash interest rates to an all-time low of 0.25 per cent. Take a look at the winners and losers of the rate cut: WINNER: Property investment The cut to interest rates is [...]
Record pension deficits could balloon by a further £30bn after interest rate cut August 4, 2016 Today’s interest rate cut could see the deficits of beleaguered pension schemes rise by another £30bn according to experts. "The Bank of England’s decision today is painful for pension schemes," said Charles Cowling of the JLT Employer Benefit Index, which announced record deficits earlier this week. Read more: Pension deficit headache for British companies Matt Saunders of [...]
