New Chunnel routes to lift passenger numbers February 17, 2014 EUROTUNNEL said more than 14m passengers a year could be using the rail link to the Continent by 2020, as demand is lifted by new, faster routes into Europe. The Channel Tunnel operator said yesterday that Eurostar traffic could rise from last year’s record of 10m passengers if plans for extra services are followed through. [...]
Landlords fight retailer Game over rent rules February 9, 2014 LANDLORDS and computer games seller Game will head to the Court of Appeal this week to find out whether the retailer owes rent for the first three months after its collapse into administration in March 2012. Four of the country’s biggest shop landlords – Hammerson, British Land, Intu and Land Securities – argue that the [...]
Firms shuttering defined benefit pension plans for new schemes February 17, 2014 GLOBAL firms are mirroring UK corporate pension trends by closing defined benefit (DB) schemes, a poll shows today. Just six per cent of companies in a sample of Fortune 500 companies were willing to keep DB schemes open, according to the poll by PwC. Nine out of 10 said they were switching to defined contribution [...]
Osborne’s quiet revolution is delivering: Tax cuts boost growth April 14, 2014 WITH the “stimulus” versus “austerity” debate having receded, George Osborne likes to talk instead about his “long-term economic plan”. This has been dominated by a commitment to deficit reduction and a strong jobs market. But it’s becoming clear that Osborne wants to add a third string to his bow – the intellectual case for low [...]
Mapped: Which Phones 4u stores are being shut down? September 23, 2014 PricewaterhouseCoopers has revealed the addresses of the 360-plus Phones 4u stores that are being shut down, and the number of staff being made redundant as the business is wound down. At this stage 1,679 people will lose their jobs, with a further 720 people staying on to help with the wind down. Some [...]
Game’s landlords win key case on rent owed by collapsed firms February 24, 2014 COLLAPSED retailers must pay to use their shops even if the rent bill was due before they failed, the Court of Appeal said yesterday, marking a major change to the way retail administrations are handled. Landlords for Game Group, which filed for administration the day after its quarterly rent was due in March 2012, are [...]
Vince Cable is fighting yesterday’s battles on boardroom pay April 22, 2014 THE VINCE Cable show is back on the road. The business secretary is up to his old tricks again, waging war on business. He writes in a letter to FTSE bosses that “excessive and disproportionate pay damages popular trust in business” and that it “undermines business’ licence to operate”. It’s a shame he didn’t make [...]
UK companies contribute more to taxation bill January 29, 2014 BRITAIN’S biggest firms and their employees paid more tax last year despite the falling rate of corporation tax, as business investment and hiring improved, a study from PwC shows today. The largest listed businesses paid £78bn in the last financial year, up from £77bn in the previous 12 months and around 15 per cent of [...]
RSA prepares to find out more about its capital hole in Ireland January 6, 2014 INSURANCE group RSA will this week hear what investigators from PwC think happened at its troubled Irish business, which was in November revealed to have a £200m black hole. PwC’s findings, which are yet to be finalised, will be published on Thursday. The capital hole has already claimed the scalp of chief executive Simon Lee, [...]
Pedalling his wares May 18, 2014 Annabel Palmer talks to Simon Mottram, founder of premium cycle clothing and accessories brand Rapha IT’S A dilemma faced by the 1.9m professionals now cycling to work every day. Wear a suit, and you risk tears, discomfort and heat exhaustion. Wear lycra and you could be sacrificing style for comfort. But as the number of [...]