Morrisons may face revolt over Dalton Philips’s £3m pay package May 31, 2015 Morrisons is expected to clash with shareholders this week over the supermarket’s ousted chief executive Dalton Philips £3m pay package. Philips was forced to step down in February, after failing to halt the decline in sales at the grocer during his five years in charge. He walked away with a £1.1m payoff, as well as [...]
Professional hiring on the up as salaries in engineering and finance rise May 31, 2015 Finance and accounting staff are in growing demand as Britain’s economic recovery takes off, recruiters at the Association of Professional Staffing Companies (APSCO) revealed today. The number of vacancies for professionals on recruiters’ books is up 16 per cent on the year, with finance and accounting positions up 11 per cent. Salaries for new finance [...]
Competition for UK workers climbs in April as job vacancies rise May 31, 2015 The UK’s job market tightened further in April, with the number of vacancies climbing and the number of jobseekers falling. There were 1,033,435 job vacancies in April, according to figures released today by job search site Adzuna.co.uk. It marks a post-recession high and is 25.6 per cent more than in the same month [...]
Fishing Republic IPO: Fish tackle group nets £1.5m as its shares go public May 31, 2015 Tackle shop group Fishing Republic successfully raised £1.5m in its initial public offering, revealing today that it will be worth approximately £3.6m when the shares start trading on Thursday 4 June. The group, established by life-long fishing enthusiast Steve Gross, hopes to be the first retailer to consolidate a fragmented market. There are 2,500 independent [...]
William Hague gets new private sector role with Teneo May 31, 2015 Former foreign secretary William Hague has taken a high-profile new job in the private sector. Hague, who was leader of the Conservative party from 1997 to 2001, has joined Teneo Holdings, an international business consultancy with ties to former US president Bill Clinton and former prime minister Tony Blair, the Sunday Times reported yesterday. [...]
Tax Freedom Day: The average Briton “works for 150 days a year” just to pay their taxes May 31, 2015 The average British citizen works for 150 days of the year solely to pay their taxes, according to the Adam Smith Institute, organisers of Tax Freedom Day. The UK's Tax Freedom Day fell on 31 May this year, one day later than it did in 2014. It is calculated by the Adam Smith Institute, and [...]
UK economy grows at fastest rate in a year says CBI May 31, 2015 Dismayed by the weak GDP growth announced earlier this week? Don't be, says the Confederation of British Industry (CBI). In contrast to the tiny 0.3 per cent first quarter growth revealed in official figures last month, the CBI has argued that Britain's private sector recorded its strongest economic growth for a year in the three [...]
Grexit is “not inevitable”, says Moody’s May 29, 2015 Greece is likely to remain in the euro even if it defaults on a €300m repayment to the International Monetary Fund on 5 June, credit ratings giant Moody's said today. Although analysts have speculated over the likelidhood of a Greek exit from the Eurozone, today it would not happen automatically, according to the report, which [...]
G7 agrees Chinese currency should be in IMF currency reference basket May 29, 2015 The G7 has agreed that the Chinese yuan should be part of an international basket of reference currencies. German Finance Minister, Wolfgang Schäuble, announced the decision after a meeting of G7 finance ministers and central bank governors. However, he told a press conference that there was no need to rush the process. He said: There [...]
US GDP beats expectations – but still falls by 0.7 per cent May 29, 2015 US GDP fell by 0.7 per cent in the first three months of the year, official statistics published today showed – better than the 0.9 per cent drop expected by analysts, but nevertheless a disappointing performance. The figure is a sharp fall from the 0.2 per cent growth originally estimated for the first quarter, although [...]