Brexit is a chance to reboot Britain’s stagnant productivity performance – as long as we also return monetary policy to normal October 31, 2016 Productivity is the key driver of economic prosperity. From 1945 to 1980 Britain performed poorly on productivity growth, particularly in the 1970s when the UK joined the European Community. The 1980s saw a sharp improvement in UK productivity growth, sustained for much of the 1990s and early 2000s. Alas, the UK’s productivity performance has since [...]
Brexit hasn’t impacted the number of companies going pop too much. Yet… October 28, 2016 The number of companies going bust is edging up as experts predict that it is only a matter of time before numbers may rise more rapidly as a result of the Brexit vote. The latest data, released by the government's insolvency service, reveals that there were 3,633 corporate insolvencies in the three months since Britain's decision to leave [...]
Shares in Debenhams leapt this morning on solid annual results. But analysts are still waiting to see what the new chief exec will do October 27, 2016 Department store Debenhams' share price headed north by nearly four per cent this morning after revealing a decline in full year profits that still beat analyst expectations. The figures Gross transactional values, basically the company's sales before taking into account discounting, were up by 1.3 per cent to £2.9bn. However revenues – what it says on the [...]
Boom time in the City as Brexit gives a boost to professional advisers October 24, 2016 The UK's vote for Brexit has delivered a big boost for City advisers as firms scramble to find out how they should respond to a period of unprecedented uncertainty. Insolvency firm Begbies Traynor found the number of professional services firms in "significant financial distress" had dropped by 10 per cent since the EU referendum, as new [...]
BHS administrators track millions taken out of retailer by Dominic Chappell October 23, 2016 One of the administrators of BHS wants to take control of Retail Acquisitions (RAL), the company Dominic Chappell used to buy the retailer for £1. Duff & Phelps has applied to the High Court to take over RAL so that they can investigate the money extracted from BHS by Chappell. In particular, the administrators are [...]
MPs vote to strip Sir Philip Green of his knighthood October 20, 2016 MPs have voted to strip Sir Philip Green of his knighthood. MPs have been debating the collapse of BHS in the House of Commons. The amendment to take Green's knighthood was supported by over 110 MPs. The vote is not binding, and the ultimate decision over his knighthood will be taken by the honours forfeiture committee. Read more: [...]
BHS administrators submit investigatory report on former BHS directors to Insolvency Service October 19, 2016 Pressure is mounting on Sir Philip Green ahead of a parliamentary debate on BHS' collapse as City A.M. has learned the BHS administrators have submitted an investigatory report on the retailer's former directors to the Insolvency Service. The report from Duff & Phelps on the conduct of former directors will remain confidential unless the Insolvency Service publishes its investigation. Ministers [...]
Theresa May-backed Women’s Business Council says more needed to unlock contribution of female workers to the economy October 17, 2016 A high-profile government advisory group has hailed progress on roles for women in business, but says there is still more to do. Theresa May established the Women Business Council while home secretary, and four years after its creation WBC chair Cilla Snowball has warned that despite significant victories, more progress must be made. Household names [...]
Young women are much more likely to be insolvent than young men October 17, 2016 Higher expenses are contributing to a far higher insolvency rate among young women than young men. According to accountancy firm Moore Stephens, women accounted for 65 per cent of personal insolvencies among the under-25s in the last year and 53 per cent of those among 25-34 year-olds. Read more: What does a gender pay gap [...]