Payday loan price cap comes into force but unintended consequences may already be starting to show January 2, 2015 The Financial Conduct Authority's (FCA) controversial cap on the cost of payday loans comes into effect today. The rate of interest and fees charged on payday loans will now be limited to 0.8 per cent per day. The changes are also meant to ensure that if a borrower defaults they will not need to pay [...]
2,300 City Link workers lose their jobs on New Year’s Eve January 1, 2015 Over 2,300 City link workers were made redundant on New Year's Eve after it was announced the company was going belly up. City Link's biggest shareholder Better Capital bought the company for the sum of £1 back in 2013. John Moulton, the founder and managing partner of Better Capital said: Of course, I wish it [...]
Wax-jacket maker Barbour facing four week strike action in Newcastle December 31, 2014 Wax-jacket maker Barbour, the upmarket brand beloved by City types, could be faced with four weeks of industrial action as it enters into the New Year. Employees at the company's warehouse in Gateshead, Newcastle will walkout over plans to introduce new shift patterns. The strike, which is scheduled to start on 5 January, comes after [...]
The year at City A.M.: Our most popular stories of 2014 December 31, 2014 With everything that has gone on in the last 12 months you might be forgiven the odd memory lapse. Here's our round-up of the stories that got you clicking in 2014. January It's hard to believe it was less than a year ago that French President Hollande was caught having a moped-based affair with actress [...]
Network Rail chief Mark Carne turns down bonus after “unacceptable” engineering delays caused “misery” for passengers December 30, 2014 Network Rail chief executive Mark Carne has said he will not take his bonus, after the travel chaos that erupted after engineering works overran this Christmas. Carne stood to receive a £34,000 performance-related bonus on top of his £675,000 a year salary. But in light of the huge disruption at King’s Cross and Paddington – [...]
Next’s share price soars as profit guidance raised and special dividend declared December 30, 2014 Next’s share price has soared this morning on the back of a new forecast, revising its profits back up. Christmas at Next was at the better end of the retailer’s forecast, with sales for the 58 days until Christmas Eve up 2.9 per cent year on year. Much of that came from Next Directory, which [...]
How to lose weight and get healthy for the new year: A City worker’s guide December 29, 2014 Indulging a little more over the Christmas period is to be expected – with so many mince pies and other tasty treats around, it would be difficult not to. And it’s not just the food that leads to a slightly sluggish feeling after the festive season. It’s also the booze, the parties and all the [...]
City Link administration: Most jobs to go on New Year’s Day December 29, 2014 Most workers at City Link are expected to be made redundant on New Year's Day, they have been told. An internal document seen by Sky said it is unlikely to be able to make termination payments – "however, you may be entitled to make claims to the Redundancy Payment Service". The news came on the [...]
Looking for a new job in 2015? Here are nine ways you can prepare now December 29, 2014 We may still be in the 12 days of Christmas, but if you're planning on searching for a new job in 2015, now is the perfect time to get ready for the inevitable scramble for new roles that will begin in earnest in January. Whether you're looking to change careers entirely or just want a [...]
The Interview makes £9.6m from online sales December 29, 2014 The Interview pulled in $15m (£9.6m) from online rentals and downloads in just four days, making it the studio's most successful online film to-date. The movie, which swept to notoriety following the hack into Sony Pictures, attracted two million rentals and purchases over the festive period as fans clamoured to see what all the fuss [...]