The number of days lost to industrial action soared by 89 per cent to 322,000 last year February 15, 2017 There were 322,000 working days lost to strike action in 2016, an increase of 89 per cent on the year before. According to official figures for the year ending December 2016 there were 322,000 days lost from 99 stoppages and 154,000 people took strike action. That compares to 170,000 days lost due to labour disputes in [...]
City Moves for 1 February 2017 – who’s switching jobs? February 1, 2017 Today's City Moves cover insurance, real estate law and a national tax and auditing outfit. Take a look at these movers and shakers: PWC Paul Delbridge has taken on the role of London market insurance leader at PWC. Paul is a partner with 30 years’ experience at the firm, including three years in New York, [...]
Ginsters owner to team-up with celebrity-backed Cornish pasty firm January 3, 2017 Baker Greggs' UK pasty dominance is to come under increasing pressure as two of its rivals are set to announce a tie-up as part of a multi-million pound deal. Samworth Brothers, which owns a variety of brands including Ginsters, will announce this week plans to buy West Cornwall Pasty Co – a celebrity-backed firm that was saved [...]
Private equity groups circle Oasis, Warehouse and Coast December 4, 2016 Private equity groups are reportedly interested in buying up fashion brands Warehouse, Oasis and Coast, also known as the Aurora Fashion Group. The group recently appointed PwC to conduct a "strategic review" for the business, and is thought to be seeking a sale worth £100m. Read more: MPs pay surprise visit to Sports Direct's Shirebrook warehouse [...]
Rejoice? Unemployment hits its lowest since 1975 – but the experts aren’t so happy March 15, 2017 Unemployment in hit its lowest level since 1975 in the three months to January while the rate of working-age adults employed stayed at record highs. However, weaker wage growth at a time inflation is rising has given economists – and sterling – pause for thought. The government was cock-a-hoop. Damian Hinds, minister for employment said [...]
Challenger bank Oaknorth expands its team with three key hires January 5, 2017 It's only a few days into 2017, but Oaknorth has already further expanded its team, making three key hires. City A.M. has learnt that the challenger bank has appointed Georgy Naydenov and Stuart Blair as debt finance directors, and David Webley joins as a credit director. Industry veteran Webley has previously spent 25 years at Barclays and was most recently [...]
Public borrowing could overrun by £100bn over the next five years November 15, 2016 Philip Hammond could be on track to overshoot previous public borrowing forecasts by £100bn in total by 2021, a report out today has warned. PwC also found that, if the new chancellor opts to keep the status quo on spending despite June's referendum result, this year's public sector net borrowing will come in at £67bn, around £10bn [...]
Bosses should speak out on political events February 1, 2017 Business and their top executives are understandably nervous about jumping into political storms. Speaking out during times of unrest holds many risks. People disagreeing with your view are quick to encourage boycotts on social media, while an army of risk-averse corporate PR men and women will warn their bosses of potential harm to a company’s [...]
Business fights back against the BAFTAs and BRITs with PwC’s 30th annual PLC Awards March 3, 2016 You can take your BRITs, Oscars, BAFTAs and Golden Globes. The Capitalist spent this festival season partying with bosses and politicians at the PLC Awards. As last night's host, BBC's Kate Silverton, declared: "They've got nothing on us. We know how to party!" As it was the 30th anniversary of the awards ceremony, and London has [...]
England have shown mental fortitude in defence, but if they want to be world No1 we need to see more attacking prowess February 23, 2017 England scaled new heights in many ways against Wales in Cardiff. They were up against it, on the ropes getting battered, but had the mental fortitude to answer those questions. What they need to show now is greater attacking prowess. That offensive flair, which was so apparent during the autumn with the number of free-flowing [...]