Firms will have to ‘train British workers’ under immigration plans May 8, 2025 UK firms will reportedly have to train British workers if they wish to hire staff from abroad as part of government efforts to lessen the economy’s reliance on mass immigration. Firms have lowered expectations for investment in training, according to a number of recent surveys, given the UK’s bleak economic outlook for the year ahead. [...]
Serco’s profit jumps as defence arm grows February 27, 2025 Serco has posted revenue of £4.8bn for 2024, in line with prior guidance, thanks to a notable improvement in organic growth, particularly in its North American Defence business. Serco, the global provider of public services, reported underlying operating profit growth of 10 per cent to £274m, with a sharp 30 per cent increase in the [...]
Serco: FTSE giant bags £200m US army deal January 15, 2025 British outsourcing giant Serco has secured a $247m (£203m) contract to enhance the health and fitness of US army soldiers. The government services provider will support 45 US army brigades across 15 locations, including bases in Alaska and Texas. Under the deal, the firm is set to drive soldier fitness, reducing injury rates and supporting [...]
Outsourcing giant Serco: Shares spike as business pipeline “at its best for a decade” December 19, 2024 British outsourcing giant Serco has said that its pipeline of business opportunities is at its strongest in over a decade thanks to a boost from North American defence contracts. Shares subsequently spiked more this seven per cent in early trades. The FTSE 250 firm told markets this morning that underlying operating profit was £270m in 2024, [...]
Serco: FTSE 250 firm predicts £20m hit from Budget tax changes November 8, 2024 British outsourcing giant Serco stressed the tax changes in the UK following the Budget will increase cost by £20m per year
Businesses warn of £400m in extra costs after Reeves’s Budget tax raid November 8, 2024 Businesses across the UK are sounding the alarm over rising costs after Rachel Reeves raised taxes by some £40bn at the Budget last week. The Chancellor announced that employer’s national insurance contributions (NIC) will increase by 1.2 per cent to 15 per cent, and the threshold at which businesses start paying the levy will be [...]
Mark Kleinman: The world’s local bank just got more complex October 31, 2024 Mark Kleinman is Sky News’ City Editor and is the man who gets the Square Mile talking in his weekly City AM column. This week he tackles HSBC’s shake-up, CBI losing its voice and recruiting a watchdog referee The world’s local bank just got more complex If it ain’t broke, don’t fix it. Investors in HSBC Holdings would [...]
Serco takes UK government to court over prison contract October 29, 2024 British outsourcing giant Serco has launched legal proceedings against the UK government over a prison services contract, City AM can reveal.
‘Madness’: Sky News moves Ian King Live out of Square Mile September 5, 2024 Sky News’ flagship business programme, Ian King Live, has left its iconic Square Mile address, relocating to Sky Group’s headquarters in Osterley, City A.M. has learned. The channel initially moved its business operations to 10 Fleet Place in September 2019, where it shared a studio with sister channel CNBC Europe. However, according to correspondence seen [...]
Serco: FTSE 250 firm bags new contract for US Space Force Pituffik base in Greenland August 22, 2024 British outsourcing giant Serco has won a $320m (£250m) contract to manage the electrical modernisation of the US Space Force’s Pituffik Space Base in Greenland. The contract, which began this month, will last four years. Serco will modernise the base’s backup electrical plant, enhancing the capacity and stability of the base’s electrical network. Pituffik Space [...]