Who will save our education system? Leave it to the entrepreneurs December 2, 2019 One of the most notable policies to come from the bouquet of manifestos put forward for the upcoming general election is Labour’s pledge to abolish tuition fees. They identify £57,000 as the figure for the average debt the poorest graduates are being left with. That’s a hefty debt figure for anyone to be carrying around, [...]
The gig economy needs a creative touch to regulation, not a knee-jerk ban December 2, 2019 The gig economy is a central part of what makes London the vibrant, world-class city it is. From Deliveroo to TaskRabbit to Uber, technological innovation is enabling people to work in ways they never could before and serve the needs of customers. It should be no surprise that more than one in five of London’s [...]
Big Four firm PwC cracks down on drinking alcohol in the office December 1, 2019 Big Four accountancy firm PwC has cracked down on drinking alcohol in the office. Under new rules introduced this year, alcohol can only be drunk on PwC premises when it has been supplied by the firm’s in-house catering team at specially designated events. A spokesperson for the firm said: “As part of the regular review [...]
Goldman Sachs to cool UK Marcus expansion to avoid red tape December 1, 2019 Goldman Sachs is planning to cool the UK expansion of its new retail bank Marcus as it seeks to avoid the stricter regulations big lenders face in Britain. So-called ringfencing rules drawn up after the financial crisis mean banks with more than £25bn in customer deposits have to separate retail banking activities from their much-riskier [...]
Hiscox in line for FTSE 100 relegation December 1, 2019 Hiscox is in danger of dropping out of the FTSE 100 later this week following a spate of weather catastrophes that have dented the insurer’s balance sheet. The blue-chip insurance giant looks set to lose its membership on Wednesday, with Easyjet expected to fill its spot on the back of lower costs and higher capacity. [...]
None of the parties have a credible plan to fix the social care crisis November 29, 2019 Every day, 1.4m elderly people are left unwashed, unsupported, and without the care they need — because our social care system is broken. “Crisis” is an overused term, but in this instance, it’s no exaggeration. And people are increasingly aware of this. Recent polling commissioned by Deloitte and Reform revealed that social care is the [...]
General Election 2019: Conservatives and Labour’s spending plans not credible, warns IFS November 28, 2019 Neither the Tories nor Labour have presented voters with credible tax and spending plans in their General Election manifestos, according to damning analysis by the Institute for Fiscal Studies (IFS). Labour is unable to raise the money it wants to and the Conservatives cannot meet the pledge to balance the budget with tax freezes and [...]
Virgin Money cancels dividend after £385m PPI hit but shares jump on solid growth November 28, 2019 Virgin Money swung to a £194m loss and suspended its dividend in its latest full-year results, blaming payment protection insurance (PPI) charges and the costs of its £1.7bn merger with Clydesdale and Yorkshire Bank Group (CYBG). The figures The bank fell to a £194m loss before tax after paying out £385m to settle its part [...]
Labour and Tories already on track to break spending rules, says report November 28, 2019 Both Labour and the Conservatives are already on track to break their spending rules due to uncosted promises made in their manifestos, according to the Resolution Foundation think tank. The two main parties have both changed their so-called fiscal rules to allow more government spending, but say they will balance day-to-day spending with receipts by [...]
Virgin Active and Iceland investor Brait to offload assets November 27, 2019 South African investment firm Brait, which owns stakes in New Look, Iceland and Virgin Active, has announced a financial restructuring plan that will see it offload its assets. Shares in the Johannesburg-listed company plunged more than 15 per cent after it unveiled plans to sell off its assets in a bid to reduce debts and [...]