‘Bond market tantrum risks’: Gilt traders brace for Labour leftward pivot as Starmer future uncertain
Refuse collection workers go head to head with Serco as they plan to strike during Commonwealth Games July 15, 2022 Refuse collection workers in the West Midlands are to strike on the opening week of the Commonwealth Games. Members of the GMB union will take five days of action – on July 28, when the Games open in Birmingham, July 29 and August 4, 5 and 8. The union said private contractor Serco, which runs [...]
London-listed energy giants shake off windfall tax jitters May 26, 2022 London-listed energy firms shook off concerns over the impact of a looming windfall tax on their excess profits during opening exchanges this morning. The capital’s premier FTSE 100 index edged 0.09 per cent higher to 7,529.53 points, while the domestically-focused mid-cap FTSE 250 index, which is more aligned with the health of the UK economy, [...]
Outsourcing giant Serco posts ‘outstanding’ results on the back of ‘toughest’ year ever February 24, 2022 UK government contractor Serco today posted bumper profits, as it continued to capitalise on Covid and the impacts of the global pandemic. The Hampshire headquartered firm said its profits soared by 21 per cent, as contracts for work on the UK governments Covid-19 response lasted much longer than expected into 2021. Serco CEO Rupert Soames [...]
UK to strengthen ‘space clusters’ following £1.4bn defence investment February 2, 2022 The UK is set to inject extra cash into so-called ‘space clusters’ – regional hubs where the space industry is booming, such as Cornwall and Scotland. Forming part of the government’s Levelling Up White Paper today, it comes as the Ministry of Defence (MoD) confirmed a £1.4bn investment into future space defence yesterday. Defence secretary [...]
Serco hikes profit forecasts on buoyant Covid-19 support work November 15, 2021 Work to support governments in their response to the Covid-19 crisis prompted outsourcer Serco to hike its profit forecasts. The firm now expects to rake in at least £225m in profits for the year, up from around the £200m set out in its previous guidance. “In the UK and Australia, volumes of work related to [...]
RMT rouses Caledonian Sleeper staff into new wave of ins November 9, 2021 RMT has confirmed a two-day strike is going ahead this week on the Caledonian Sleeper in Scotland. Workers on the sleeper service have been roused into action for the fourth time following a protracted pay dispute with Serco. The industrial action takes place between 11th and 13th November. The train provides overnight journeys from London [...]
Ethical investors pressure Serco to drop UK nuclear weapons bid November 7, 2021 Pressure from ethical investors has reportedly forced outsourcer Serco to drop out of the race to manage Britain’s nuclear weapons arsenal. Best known for its involvement with NHS test and trace during the coronavirus pandemic Serco is believed to have had plans to compete for contracts with the Atomic Weapons Establishment, which makes and maintains [...]
Ministry of Defence faces backlash after awarding contracts to foreign shipyards September 2, 2021 Backlash ensued after the Ministry of Defence (MoD) announced its latest decision to consider foreign firms in the race to build Royal Navy supply vessels. Yesterday marked a vital stage in the battle to secure a £1.5bn deal to deliver the ships the Royal Fleet Auxiliary need to support the Royal Navy. The MoD awarded [...]
Test & Trace provider Serco sees profit rises 58 per cent August 5, 2021 Outsourcing company Serco Group saw a 58 per cent jump in profit following a strong first-half, the Test & Trace provider told the market this morning Revenue for the business rose to £2.2bn in the six months ending June 30, which grew 19 per cent over the last period. Underlying trading profit for the first-half [...]
Nuclear submarine steelmaker set for public ownership July 7, 2021 A key supplier to the UK’s nuclear submarine building programme is set to be taken into public ownership amid concerns over its financial situation. Sky News reported that the Ministry of Defence (MoD) is finalising a move to nationalise Sheffield Forgemasters, one of the country’s oldest steelmakers. Talks over such a step have been going [...]