Whitehall ploughs one-third of annual budget into outsourced services, despite ongoing financial misery of the sector December 11, 2018 Whitehall could not abandon the outsourcing of public services even if politicians wanted to because it costs so much, according to research. The government ploughs £284bn – almost one-third of its overall budget – into work done by external suppliers every year, think tank Institute for Government (IfG) said today. The huge outlay is despite the [...]
It’s time to fix regulation and scrap socialism for the banks May 3, 2019 For too long, it has been possible for bankers to make massive profits while socialising losses through subsidies, deposit schemes, public ownership, and bailouts in times of crisis. This creates a moral hazard: bankers are encouraged by the regulatory regime to take on excessive risk, allowed to issue limited equity, and in case of a [...]
It’s time to fix regulation and scrap socialism for the banks May 3, 2019 For too long, it has been possible for bankers to make massive profits while socialising losses through subsidies, deposit schemes, public ownership, and bailouts in times of crisis. This creates a moral hazard: bankers are encouraged by the regulatory regime to take on excessive risk, allowed to issue limited equity, and in case of a [...]
Business groups worried over energy future as Hitachi pulls out of Welsh nuclear plant January 18, 2019 Business groups were left exasperated yesterday as another core investor pulled its support from the UK nuclear sector, denting the government’s energy plans. Japanese giant Hitachi said it would suspend work on the £16bn Wylfa nuclear power plant which was intended to produce six per cent of the UK’s electricity. Protracted discussions with the government, [...]
Kier defies expectations with strong profits as order book swells September 20, 2018 Construction and services company Kier Group posted a better-than-expected nine per cent rise in profit this morning, fighting off investor fears following the collapse of competitor Carillion earlier in the year. Bolstered by a growing order book, the FTSE 250 firm’s underlying pre-tax profit jumped to £137m in the year to June, compared with £126m [...]
Kier defies expectations with strong profits as order book swells September 20, 2018 Construction and services company Kier Group posted a better-than-expected nine per cent rise in profit this morning, fighting off investor fears following the collapse of competitor Carillion earlier in the year. Bolstered by a growing order book, the FTSE 250 firm’s underlying pre-tax profit jumped to £137m in the year to June, compared with £126m [...]
From Carillion to Connaught, here are four clues that a company is tipped for disaster January 8, 2019 It is said that we learn as much from failure as we do from success. This is just as true in investing as in life: we can learn from the struggles of companies that have gone bust, as well as those that have survived. While there are tell-tale signs that a company’s share price is [...]
Emojis are a better metric for national wellbeing than traditional data methods March 20, 2019 HMRC’s programme to make tax digital continues to roll out. Anyone with a small business will know about the imminent deadline of 1 April, when VAT returns become digital. Quick to seize an opportunity, several companies have developed software to ease the task. The digitisation of tax raises the wider issue of whether technology will [...]
Gold miner Petropavlovsk looks to gilded year after processing plant opens ahead of schedule January 23, 2019 Anglo-Russian miner Petropavlovsk struck gold today as shares rocketed on the news it expects production to grow by up to 77,000 ounces this year after a new plant opened ahead of schedule. The company said it is targeting gold output of around 450,000 to 500,000 ounces in 2019, up from 422,300 last year. Read more: Gold [...]
Stick with HS2 or scrap it? Where every Tory leadership contender stands on the £56bn railway June 5, 2019 Theresa May has just days left as Tory leader, and it’s not just Brexit where the future is unclear – HS2 is also at a crossroads. Much of the talk around May’s potential successors has been centred on their stance on a no-deal Brexit. But in the transport world, all minds are focused on whether [...]