- John Fallon awarded total of £1.5m, including a £343,000 bonus, after world’s largest educational publisher reports £2.6bn pre-tax lossThe total pay of John Fallon, the chief executive of Pearson, increased by 20% last year, despite the FTSE 100 company reporting the biggest loss in its history and the prime minister, Theresa May, criticising boardroom excess.The world’s largest educational publisher reported a pre-tax loss of £2.6bn for 2016, but awarded Fall
- Trump issued an ultimatum after the vote was postponed on his bill to replace Obamacare, raising fears about his ability to push through other growth-boosting reformsCongress plans Friday vote as Trump gives ultimatum to RepublicansEC president Juncker: Brexit is a failure and a tragedyPound could fall as low as $1.06, Deutsche Bank warnsBrexit watch: squeeze on living standards begins 3.05pm GMTBefore we close up for the day, let’s take a look at the markets.Wall Street is holding on to e
- Company commits to UK but says consumers could pay more or get less confectionery as a result of exit from EUCadbury has said it may have to raise prices or shrink the size of its products after Brexit, but has committed to staying in the UK.Glenn Caton, who is in charge of Cadbury in Britain, told the Guardian the company would change and adapt to the terms of Britain’s exit from the EU and that the country would still be the “home of chocolate manufacturing”.Continue reading.
- Supermarket fails to convert carts in time, as warning comes of issues with parking meters and vending machines on TuesdayTesco is unlocking 100,000 of its coin-operated supermarket trolleys after the grocery giant failed to convert them in time for the launch of the 12-sided £1 coin on Tuesday.A Tesco spokesperson said: “We’re replacing the locks on our trolleys to accept old and new pound coins as well as existing trolley tokens. We will unlock all our trolleys while this pro
- CitySprint pulled up again as judge rules contractors are employees if they can’t decide on pay, break and time off
A second cycle courier has won the right to paid holidays and minimum pay in a ruling that could cause major upheaval in the gig economy.The central London employment tribunal ruled that Excel, a courier company which is now part of CitySprint, had unlawfully failed to award Andrew Boxer holiday pay and wrongly classed him as an independent contractor. Continue reading...
- Love it or hate it, the charity Comic Relief has been raising money for an unbelievable 32 years. We pick some of the highlights
Can Comic Relief seriously have been going for 32 years? Founded in 1985 by actor Lenny Henry and writer Richard Curtis after the latter had visited Sudan, the aim, Curtis once said, was “to raise money, but I also knew that it was fine to be as funny as we could be while doing it”. It can be patronising, infuriating, and dull. As David Lammy argues, it hel
- Trump issued an ultimatum after the vote was postponed on his bill to replace Obamacare, raising fears about his ability to push through other growth-boosting reformsCongress plans Friday vote as Trump gives ultimatum to RepublicansEC president Juncker: Brexit is a failure and a tragedyPound could fall as low as $1.06, Deutsche Bank warnsBrexit watch: squeeze on living standards begins 12.30pm GMTThe troubled Co-operative Bank says it has received a number of serious approaches from potential bu
- You may think that a smuggler in the Tunisian desert has nothing to do with your trip to the supermarket. You’re wrongAs I talk to him, Ahmed pulls his chair into his store to escape the hot Tunisian sun. He is a retired teacher – the years of screaming children can be counted in the rings framing his eyes. Behind him is his merchandise. To make up for a small pension, Ahmed is selling kitchenware in a market near the Libyan border, over four hundred tiny concrete garages surround hi
- How has the economy reacted to the vote to leave the EU last June? <a href="https://www.theguardian.com/business/series/brexit-data-snapshot">Each month</a> we look at key indicators to see what effect the Brexit process has on growth, prosperity and trade in the UK Continue reading...
- The latest monthly Guardian analysis finds signs of a slowdown as prices rise and real pay shrinks• Help fund our journalism by becoming a Guardian supporterBritish households are being warned to prepare for a tightening squeeze on living standards, as a Guardian analysis shows the Brexit vote’s blow to the pound is stoking inflation while pay packets are shrinking in real terms.As Theresa May prepares to trigger article 50 next week, kicking off the formal process of the UK leaving t
- The bank, which recently reported a £477m full-year loss, put itself up for sale last month in a bid to raise more capitalThe loss-making Co-operative Bank has confirmed that several credible parties have expressed an interest in buying it. Related: Co-op Bank warns of more branch closures as it reports £477m lossContinue reading...
- Telecoms watchdog proposes making providers pay automatic compensation for 7.2m customer service failings each yearBroadband and landline customers who suffer poor service could get millions of pounds of money back automatically under a scheme proposed by Ofcom.The telecom watchdog has published proposals to make providers pay for slow repairs and missed deadlines and appointments.Continue reading...
- Workers in wholesale and retail sectors at highest risk from breakthroughs in robotics and artificial intelligence, PwC report findsMore than 10 million UK workers are at high risk of being replaced by robots within 15 years as the automation of routine tasks gathers pace in a new machine age.A report by the consultancy firm PwC found that 30% of jobs in Britain were potentially under threat from breakthroughs in artificial intelligence (AI). In some sectors half the jobs could go. Continue read
- Trading in China may seem an unattainable goal, but for SMEs that embrace cultural differences and focus on building relationships, opportunities aboundEarlier this month, the Chinese premier, Li Keqiang, announced China’s 2017 GDP growth target was 6.5%. This was down from last year’s 7%, but is still impressive compared to the UK’s 2% figure. China’s expanding economy presents plenty of opportunities for UK small businesses, particularly in the wake of the Brexit vote.
- On the Isle of Man lies a Victorian town house with sea views and a menhir in the garden, perfect for those seeking a prehistoric period feature Continue reading...
- Extreme heat endangers cricketers yet the bank is Australia’s most significant private investor in climate-change-inducing fossil fuelsContrary to most expectations, the Australia-India Test series is proving to be an absolute cracker, with the teams locked together 1-1 going into the decider that begins on Saturday in Dharamsala. Australian commercial sponsors of sport must always be delighted when the results are close, wherever they are played. Excitement means more viewers, leading to
- Women in UK get six weeks of ‘decently paid leave’, and only Ireland and Slovakia have a worse deal Britain is near the bottom of the European league for paid maternity leave, while Croatia, Hungary and the Czech Republic offer the most generous deals to female workers, according to the TUC.
New mothers in the UK receive six weeks of what the TUC calls “decently paid maternity leave” – which it defines as two-thirds or more of previous earnings. Women in the UK are
- Firm still plans to pay top executives hundreds of thousands despite profit growth target being cut by more than half
Shareholders in Crest Nicholson, one of the largest housebuilders in Britain, have voted against a pay deal for the company’s directors because of concerns that the performance targets were too easy.The rebellion means Crest Nicholson is the first major company this year to see investors reject its remuneration report, which is a major embarrassment.Continue reading...
- Despite a near-halving in retailer’s stock market value over 16 months, are its current troubles really severe?Panic over for Next shareholders? It’s too soon to sound the all-clear since a steeper decline in profits than last year’s 4% fall to £790m is very possible this time. Chief executive Lord Wolfson also has a longer list of grumbles than usual: inflation, currencies, the squeeze on real incomes and consumers’ new love of entertainment over “stuff&rdquo
- Maryvale’s Australian Paper, the only copy paper manufacturer in the country, urges government to hold firm on tariffs to keep out subsidised importsAustralia’s only copy paper manufacturer, one of the largest remaining employers in Gippsland’s Latrobe Valley, is concerned free trade negotiations with Indonesia could frustrate moves to impose anti-dumping tariffs.The Anti-Dumping Commission filed its report on paper imports to the federal government on Friday, after a 10-month
- Shoe retailer expected to call in administrators days after rival BrantanoJones Bootmaker is expected to call in administrators on Friday in a move that will put more than 1,100 jobs at risk.The shoe retailer, which employs 1,145 people, has nearly 100 stores and a handful of concessions in department stores. It is understood to be close to going under after a deal with a private equity firm collapsed.Continue reading...
- Up to 362 jobs could go, prompting union to accuse bank of turning its back on loyal communitiesRoyal Bank of Scotland is axing 158 branches, most of them NatWest outlets, with the loss of up to 362 jobs. The group, which is 73% taxpayer-owned, blamed the move on customers spurning the traditional branch counter service in favour of doing their banking on the internet and mobile phones.Continue reading...
- UPDATE 1-French financial markets watchdog wants special access rules for UK
LONDON, March 23 The European Union's system for granting market access to banks from outside the bloc will not work for a financial centre as big as Britain's, a top European regulator said on Thursday. Gerard Rameix, chairman of France's AMF markets ...en meer »
- Reuters UK
French financial markets watchdog wants special access rules for UK
Gerard Rameix, Secretary General of the Autorite des marches financiers (AMF), France's market regulatory authority, poses in front of the building which used to house the Bourse (stock market) in Paris November 6, 2008. REUTERS/Benoit Tessier (FRANCE).en meer »
- How Brexit will impact the UK financial sector
Absent the unanimous agreement of all EU member states, the UK will leave the EU exactly two years later, and the UK and its financial service sector will become a “third country” under EU financial services legislation. Brexit secretary David Davis is ...en meer »
- Retail sales rose by a stronger-than-expected 1.4% in February as UK consumers took Brexit and rising inflation in their stridePound rises against the dollar and as retail sales surgeGlobal markets stabilise as investors await crucial US healthcare vote3.12pm GMTMarkets on both sides of the Atlantic are trading slightly higher as investors await developments on the Republicans’ crucial healthcare bill - which may or may not be put to the vote today.Stronger-than-expected data in the UK and
- Also, average house costs 7.6 times annual salary, part-time workers face five-fold NICs increase and for sale: Pierre Cardin’s bubble palace Hello and welcome to this week’s Money Talks – a roundup of the week’s biggest stories and some things you may have missed. Continue reading...
- Financial Reporter
New 'super' trade body to be named UK Finance
The new trade body, which merges six existing associations, has been named UK Finance - Representing UK Finance and Banking, by unanimous decision from its interim Main Board. UK Finance will integrate the remits, skills and capabilities of six trade ...en meer »
- Major phone networks express concern over video sharing site and parent company’s inability to guarantee money won’t flow to extremismThe growing advertiser boycott of YouTube has reached the US, with AT&T, Johnson & Johnson, Verizon and Enterprise all halting adverts on the site, as well as Google’s wider ad networks, over the video-sharing site’s inability to guarantee promotional messages won’t appear alongside extremist content.Some of the new members of
- Business pressure to weaken bribery laws and government’s inability to focus on non-Brexit issues are also concerns, says groupBrexit could damage the UK’s efforts to tackle corruption and give multinationals leverage over the British government in bribery cases, the Organisation for Economic Co-operation and Development has warned.Business pressure to weaken bribery laws and an inability by the government to focus on non-Brexit issues are both risks associated with leaving the Europ
- Recovery after slump in December and January is not enough to reverse slide in three-month trend, says ONSBritain’s retailers received a respite from a two-month losing streak when spending in high street stores and online bounced back in February.The Office for National Statistics said retail sales volumes were up by 1.4% on January and 3.7% higher than in February 2016. Continue reading...
- She talks blithely of ‘taking back control’. But this Brexit prime minister is about to find out just how painful divorce always is after a 40-year marriageIt’s not the beginning of the end (of Brexit) – but it’s definitely the end of the beginning. Despite the fixation in the UK on the precise date and legal niceties of the article 50 process, the most important event of the weeks to come will not be the notification itself but the EU response to it, and the politi
- Love it or loathe it, BBC drama The Replacement addressed the job insecurity many women on maternity leave face, here’s how to cope if you feel forced outThe BBC’s recent maternity leave thriller The Replacement drew in millions of viewers, culminating with a dramatic and polarising finale last week. The wider issues around job insecurity during maternity leave, sadly, are a less entertaining reality for thousands of women in the UK.
Maternity and pregnancy discrimination has signifi
- Retailer says failure to stock wardrobe staples compounded already tough trading conditions
The retailer Next has said a failure to stock enough wardrobe staples had contributed to its first drop in annual profits for eight years.Last year the retailer sped up the way it puts together its clothing ranges to compete better with rivals such as Zara, H&M and Primark, which take weeks rather than months to take clothes from the design stage to the stores. Continue reading...
- Centrica chief Iain Conn’s package leaps to £4.15m – enough to pay heating and lighting bills for nearly 4,000 customersThe boss of British Gas’s parent company was handed a pay increase of nearly 40% last year, a raise Labour attacked as “astronomical” and a “kick in the teeth” for millions of families living in fuel poverty.Centrica chief executive Iain Conn’s remuneration jumped from £3.02m in 2015 to £4.15m in 2016, enough to
- What’s in a name change? Much inconvenience and unfair fines Opodo, the online travel agency, is a familiar name in my inbox, but the complaints this past month are striking in their similarity.Customers who booked flights via the website have found that their surname has been entered twice on the confirmation, and Opodo wants a hefty sum to amend it.Continue reading...
- I can afford only to rent in the area where I work, so I plan to buy a house for cash elsewhere to let to my sisterQ I have a query regarding home-owning and was hoping you could help. I have rented for my whole life and have never taken out a mortgage or owned a home. I am required to stay in my rented house for my job. However, I am now in a position to buy a house in a much cheaper area for cash, which I could rent to my sister. As I won’t be taking out a mortgage, am I still required t
- The freemium tool can provide a wealth of insight into how visitors interact with your website, but many entrepreneurs are not making the most of itHow do people find your website? How long do they stay? What is the user experience like on different devices? If you can’t answer these three questions with confidence, it’s time to start using an analytics tool or get to know the one you do use a little better. Continue reading...
- Those aged around 40 should expect to work at least until the age of 68, with the future of the triple-lock also thrown into doubtMillions of people in their late 30s and early 40s look set to have to work for an extra year after an official review recommended pushing up the state pension age (SPA) more quickly than previously planned.
The independent report said the SPA should rise to 68 by 2039 instead of 2046. It also recommended that the state pension “triple lock” is withdrawn i
- US and UK markets fell as investors grew impatient with the president’s policies, but lower oil prices could also have a political impact
Let’s be fair to President Trump: the “worst falls” in stock markets since his election last November require perspective. The Dow Jones Industrial Average, which passed the 20,000 mark only in January, was approaching 21,000 before Tuesday’s decline that continued into Wednesday. The previous pace couldn’t have been sustain
- • Trust fears fans can be exploited on the online ticket exchange
• Club urged to seek fairer solution to secondary ticket salesThe Everton Supporters Trust has urged the club to end their partnership with StubHub amid claims fans can be exploited on the online ticket exchange.Everton have been widely praised for a progressive ticketing policy that has meant season ticket prices are frozen and in some cases reduced for the 2017‑18 campaign. Following consultations with Everton&rs
- Theresa May and Philip Hammond have warned the EU that if they don’t like the Brexit deal, they could turn the UK into a tax haven. The truth is that being ‘offshore’ means being unfair and undemocratic – and you still pay taxMost of us take democracy for granted, but you would have to think again if you lived in a tax haven. Singapore has had the same party in power since 1959. Jersey, meanwhile, has never had a general election, the members of its parliament (the States
- Parliamentary committee hears paternity leave has woeful take-up rate because many fathers fear damaging their careersMen should be given father-only parental leave to tackle the “very, very low” take-up rate, experts have told MPs.
Dads who want to be more involved in their children’s lives fear damaging their careers and denting their family’s income if they ask for flexible hours or parental leave, a hearing on working fathers heard.Continue reading...
- Leicestershire-based chain has suffered from rise in costs since post-EU referendum fall in sterlingMore than 1,000 jobs are at risk after shoe retailer Brantano collapsed into administration.The company has suffered from a rise in costs since the post-referendum fall in sterling amid a generally lacklustre UK footwear market. Continue reading...
- MORTGAGE deals allowing parents to raise funds from their property to help their adult children buy their first home have been launched by Britain's biggest building society.
- MORE than eight million drivers are losing an average £275 every year through a crucial mistake, experts have warned.
- Absent-minded travellers will no longer be made to buy the most expensive ticket. It’s a rare win in the UK’s labyrinthine rail-fare systemA stony-faced inspector approaches, and passengers fumble in panic for their train tickets. It’s an everyday experience on Britain’s trains, but one disabled traveller’s battle over an extraordinary £400 “penalty” after failing to show his railcard has played its part in forcing overzealous inspectors to backtra
- THE pound fell dramatically against the US dollar as a terror attack rocked London this afternoon.
- THE pound fell dramatically against the US dollar, amid a Parliament shooting terror attack in London's Westminister.
- Supermarket refuses to accept brewer Heineken’s price increases, which it blamed on the weak pound and the budgetFans of Heineken beers including Amstel, Sol and Kingfisher will not be able to find them in Tesco for the foreseeable future after the supermarket refused to accept price increases the brewer blamed on Brexit and the budget.Several of Heineken’s brands have been absent from Tesco shelves for six weeks after annual talks over pricing ended in a stalemate. In total, 24 out
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