IBM revenue drops for 16th consecutive quarter but beats expectations April 18, 2016 While software giant IBM 's revenue fell for the 16th consecutive quarter, its results beat analysts' expectations. The New York-based firm's operating earnings per share fell 19 per cent to $2.35 in the three months ended 31 March, but this still beat analysts' estimates for $2.09. The company's shares slumped slightly in early after-hours trading. Read more: Software giant IBM posts [...]
Shoe chain Brantano bought out of administration by previous owners Alteri February 15, 2016 Alteri Investors has bought back most of shoe giant Brantano's stores less than a month after calling in administrators and three months after acquiring the brand. PwC, the administrators, said 140 of Brantano's stores and concession have been sold back to a company controlled by the Mayfair investment firm, preserving 1,372 jobs, after interest from a number of buyers. [...]
Goldman Sachs told Arcadia bosses that Dominic Chappell had a history of bankruptcy May 23, 2016 Top Goldman Sachs banker Anthony Gutman told MPs this evening that his firm warned Arcadia Group over its sale of BHS. Gutman, co-head of investment banking services for Europe, said that Goldman offered informal advice on the sale and highlighted that Retail Acquisitions' Dominic Chappell had a history of bankruptcy. Gutman described his advice over [...]
Many UK businesses face a perfect storm, as uncertainty over a potential Brexit, a slowdown in China and the introduction of National Living Wage looms March 29, 2016 It's not just the bank holiday's miserable weather that looked bleak, with many of the country's key employers predicting grey skies ahead as a perfect storm of economic uncertainty brews. According to a report out today by the Confederation of British Industry (CBI) and PwC, optimism among financial services firms is falling at its fastest pace [...]
Retail prices drop for 21st consecutive month, but we’re still cutting back, according to the Office for National Statistics (ONS) April 21, 2016 Poor retail figures released by the Office for National Statistics (ONS) this morning have compounded fears of a slowdown in the UK economy during the first quarter of the year. Sales dropped by 1.3 per cent in March, a much steeper fall than the 0.1 per cent which had been pencilled in by analysts. Prices in [...]
City Moves for 6 May 2016 | Who’s switching jobs May 6, 2016 The Chartered Institute of Internal Auditors The Chartered Institute of Internal Auditors has announced the appointment of its new chief professional practice adviser, Liz Sandwith, who brings over 28 years’ experience in internal audit and risk management. Liz joins from Bupa where she held a number of roles in her five years there – from [...]
EU referendum: Nearly £16m in donations to registered campaigners have been reported to the Electoral Commission May 11, 2016 The Leave camp has raised more than the Remain camp overall so far in the EU referendum. Almost £16m in donations to registered campaigners in the EU referendum has been reported in the first pre-poll donations and loans report, of which more than half was donated to groups backing Brexit. Some £15,639,146 in donations was [...]
Employment reached a new record high, but economists still aren’t happy May 18, 2016 Employment jumped to a new record high in the first quarter of the year as wage growth held steady, though economists warned that Britain's jobs recovery is still losing steam. The total number of people with a job jumped to 31.6m – an employment rate of 74.2 per cent – in figures released by the Office for National Statistics (ONS) [...]
One more survey that shows the living wage and Brexit fears are hitting hiring May 3, 2016 Brexit fears and the introduction of the national living wage are holding down pay and stopping firms from taking on staff, the latest jobs report from Adzuna suggests. The online recruiters said that advertised salaries for vacancies in the UK stood at £33,815 in March — down two per cent on last year — while [...]
Helping more women into the workplace could net the UK £170bn in economic benefits, and boosting digital skills could help us achieve equality earlier March 7, 2016 Supporting women in the workplace is about more than fairness, as a report out today has discovered it could also drastically boost the UK's finances. According to the study by accountancy giant PwC, if the UK was as good as getting women working as Sweden, which is the highest-performing country for helping women into work, [...]