TfL: Network planning for “managed decline” and return to 1970s without Whitehall funding November 18, 2021 LONDON’S transport network is headed for “managed decline” that will echo the 1970s if central government refuses to fill a growing funding black hole. Late on Wednesday evening, TfL’s finance committee published the bleakest assessment yet of the future of London’s public transport network, outlining an 18 per cent reduction in bus services and a [...]
Delta variant pushes Covid rates back to January levels with most Coronavirus infections among schoolchildren November 18, 2021 New data released this morning suggests that Coronavirus rates in England are similar to what they were in January this year, just after the peak of the second wave. During mid-October to early-November 2021, the prevalence was 1.57 per cent – the same as January – compared to 0.83 per cent in September. According to [...]
Paddy Power and Betfair owner Flutter snaps up bingo giant Tombola for £402m November 18, 2021 Paddy Power and Betfair owner Flutter Entertainment has agreed to buy UK bingo group Tombola for £402m. Tombola’s founder Phil Cronin, who set up the bingo firm 16 years ago, will leave the business after the acquisition, with himself and his family expected to net a fortune from the cash deal. Based across sites in [...]
Coffee and me: For the best black stuff, go back to basics November 18, 2021 Recently I mused to a friend that if pubs didn’t expand their non-alcoholic offerings, they ran the risk of losing a generation of potential consumers who don’t drink much and for whom the more natural social setting is the coffee shop. It’s not hard to see how this could happen: the bean temples of Starbucks, [...]
Employers urged to stop asking jobseekers about their previous salary November 18, 2021 Employers are being urged to stop asking jobseekers about their previous salary amid concerns it is keeping women on lower wages and contributes to the gender pay gap. The Fawcett Society said asking about past salaries during recruitment was “pointless” because many people lied about what they previously earned. The campaign group warned that asking [...]
Brits’ median pay hikes remain at 2 per cent but wage freezes become a rarity November 18, 2021 Median pay rises have remained at 2 per cent in recent months, according to a new study. Pay analysts XpertHR said its research suggested that wage awards are at the same level as this time last year, confirming a period of stability. Wage freezes are becoming a rarity, according to the study of 33 recent [...]
Sterling at highest point against the Euro in 21 months November 17, 2021 The pound is at its highest rate against the euro for nearly two years after data revealed UK inflation is at its highest rate for a decade. Interest rates surged to 4.2 per cent in the year to October, more than double the central bank’s target of two percent and the highest level since December [...]
Former F1 boss weighs in on £3bn bidding war for Playtech November 17, 2021 Former formula one team-owner, Eddie Jordan, is reportedly part of a consortium entering the contest to snap up a London listed gambling software company. A firm founded by Jordan is working with a US investor, believed to be Centerbridge Partners, on financing an offer for Playtech, Sky News first reported. A source told Sky News [...]
City broker Numis reports itself to FCA over THG memo that went a step too far November 17, 2021 AIM-listed investment bank Numis has apologised and handed itself in to the City watchdog, after one of its employees circulated a bold memo suggesting that ecommerce group THG had “irregularities in accounting”. Numis, a bookrunner on THG’s IPO just over a year ago, has found itself in a sticky situation after the memo to hundreds [...]
Fedex to ditch Hong Kong base over strict Covid quarantine rules November 17, 2021 Fedex has announced plans to relocate pilots based in Hong Kong overseas as a result of the territory’s tough Covid rules. The move undermines Hong Kong’s position as a global logistics hub and reflects the longevity of its stringent quarantine measures. “As the global business environment continues to evolve and with the pandemic requirements in [...]