John Cridland to quit top lobbyist post at the CBI March 29, 2015 The Confederation of British Industry (CBI) is looking for a new boss, as its director general John Cridland plans to step down after five years at the top. The business lobby group began advertising for a replacement yesterday. Cridland has spent his entire career at the CBI, joining straight from university as a policy adviser [...]
Accountants call for a cut in national insurance contributions March 29, 2015 Accountants have put a reduction in employers’ national insurance contributions (NICs) at the top of their election wishlist. Cuts to NICs were seen as the highest priority for tax cuts with 49 per cent of accountants favouring a reduction, according to figures released today by Bloomsbury Professional, a tax and accounting information group. The second [...]
Marks & Spencer patches up sales at clothing arm March 29, 2015 Marks and Spencer is expected to report an improvement in sales at its general merchandise arm as the retailer recovers from its recent warehousing debacle and thanks to fewer clothes being left on the shelves. Citi, joint broker to M&S, expects the high street chain to report a 0.1 per cent decline in underlying sales [...]
London rents more than double UK average as high property prices lift sector demand March 29, 2015 Rents in London rose by eight per cent in February compared with the same month last year, as high property prices forced more people into the rented sector. For the UK as a whole, average rents increased by seven per cent in February compared with last year, figures released by estate agents Barnard Marcus show [...]
Finance sector upbeat as firms see profit jump March 29, 2015 Financial services firms are full of optimism following three months of surging business volumes and higher profits, a new set of survey data shows today. However, the survey was undertaken prior to the introduction of a bank levy that was announced in the recent Budget. The survey was also blighted by a decline in employment [...]
Mid-sized firms raise £5.2bn on Aim to boost investment plans March 29, 2015 Growing businesses raised £5.2bn in cash calls on the Alternative Investment Market (Aim) last year, the highest level since 2010, according to figures out today from Capita Asset Services. The rise in fundraisings is continuing into 2015 – in February alone, there were 42 cash calls, a rise of 24 per cent on the year. [...]
Stock market flotations grind to a halt ahead of General Election March 29, 2015 The expected flood of initial public offerings (IPOs) racing to debut on the stock market ahead of the election has barely materialised, analysts at EY said today. Market commentators had expected a rush of floating firms as sellers tried to cash out before the uncertainty of the General Election, combined with any potential coalition negotiations [...]
Who you know, not what you know: Social contacts still key to a start in career March 29, 2015 Getting on to the career ladder is easy – if you are well connected and are willing and able to do about seven internships, a report suggests today. Young people today need, on average, to have seven work placements to get on to the career ladder, when in the past one would have normally been [...]
International consortium buys up London South Bank scheme for £308m March 29, 2015 A consortium of British and international investors has bought up a £1bn office and residential development on London’s South Bank for £308m. UK’s Native Land, Singaporean sovereign wealth fund Temasek, Hotel Properties, run by the Singaporean family behind British handbag-maker Mulberry and Malaysia’s Amcorp Properties, have agreed to buy the site from Carlyle, the private [...]
Hackers force British Airways to freeze-frequent flyer accounts March 29, 2015 Tens of thousands of British Airways frequent-flyer accounts have been hacked, meaning executive club flyers will be unable to use their points. The carrier said no personal information had been viewed or stolen on the small proportion of its customers who were affected, whose accounts have now been frozen while the issue has been resolved. [...]