Forget chlorinated chicken – put satellites ‘at the centre’ of a UK-US trade deal, says Raytheon UK space boss December 1, 2020 Defence firm Raytheon has called for the space industry to be at the forefront of any future trade deal between the UK and the US, saying the sector can help the government fulfil its “levelling-up” agenda. Speaking to City A.M., the firm’s UK managing director for space and cyber James Gray said that the sector [...]
Capita finance chief steps down November 16, 2020 Capita finance chief Patrick Butcher has today resigned after almost two years at the FTSE 250 outsourcer. The firm said that Gordon Boyd would step in as interim chief financial officer and executive director from 16 November. It added that Boyd has more than 30 years of experience working in business, and has been finance [...]
US consortium mulls taking on abandoned Wylfa nuclear project November 10, 2020 A group of US companies has reportedly approached the government about taking over the development of a nuclear power plant at Wylfa in north Wales. Engineering giant Bechtel will lead the consortium, and will be joined by utility firm Southern and nuclear engineers Westinghouse. The FT reported that talks over taking over the project began [...]
Serco shares crash as outsourcer loses role on nuclear weapons consortium November 2, 2020 Shares in Serco plummeted this morning after the outsourcing giant confirmed that the government had taken back management of its atomic weapons development facility. Shares dropped nearly 12 per cent as markets opened as traders digested the news. Yesterday Sky News reported that the government was due to announce that it would take over the [...]
Serco lifts annual outlook after Covid contract wins October 16, 2020 Serco (SRP) raised its full-year forecasts after contract extensions in the UK and cost-cutting measures boosted its third quarter results. In an unscheduled trading statement, the contractor said it had achieved strong revenue growth in the third quarter, with all regions performing better than expected. Serco said it had seen a strong performance in the [...]
Government paying test and trace consultants equivalent of £1.5m salary October 14, 2020 The UK government is paying some management consultants the equivalent of more than a million pounds a year to work on the coronavirus test and trace system that its own scientists have criticised. Some senior-ranking consultants at Boston Consulting Group (BCG) are being paid around £7,000 a day, Sky News reported. That would amount to [...]
Mitie-Interserve deal to face competition probe September 15, 2020 The UK’s competition watchdog today announced that it was launching an investigation into whether Mitie’s acquisition of fellow outsourcing giant Interserve’s facilities management business could damage competition. Back in June Mitie signed a £271m deal with its rival for the division, which will create a giant new entity with more than 80,000 employees. The move [...]
Three former G4S executives charged with multiple counts of fraud September 8, 2020 Three former executives of a division of outsourcing firm G4S have been charged with multiple offences in relation to a multi-year scheme to defraud the Ministry of Justice. Richard Morris, former managing director of G4S Care and Justice Services and two ex-directors of its electric monitoring – Mark Preston and James Jardine – appeared at [...]
Capita shares slide on coronavirus-triggered first-half loss August 18, 2020 Shares in outsourcer Capita fell more than 10 per cent today after it said it had fallen to a first-half loss because of the effects of the coronavirus pandemic. The company said its turnaround planned had been torpedoed by the economic effects of the virus outbreak. Shares in Capita, which provides consulting and digital services [...]
NHS Test and Trace to cut 6,000 staff August 10, 2020 The government plans to cut 6,000 staff from the NHS Test and Trace scheme by the end of August, it said today. Those who are left — approximately 12,000 employees — will work alongside local public health teams to reach more people who could be infected and increase their contacts in communities. The tactic is [...]