British Steel survival saga ends as Jingye completes purchase March 9, 2020 The long saga of British Steel’s survival came to its end today as Chinese conglomerate Jingye completed the acquisition of the firm’s UK and Dutch assets from the Official Reciever. The deal, which is reportedly worth £50m, brings to an end 10 months of uncertainty since the firm collapsed last May. Jingye will put £1.2bn [...]
British Steel: Unions endorse Jingye takeover but 500 jobs could be at risk January 24, 2020 Unions have backed Chinese firm Jingye’s rescue deal to save British Steel after extensive discussions but up to 500 jobs could be cut under new ownership. The Steel Committee met with Jingye representatives to discuss their business plan and in particular their proposals relating to employment, including pay and terms and conditions. Any new owner [...]
HS2 construction work set to begin despite coronavirus lockdown April 15, 2020 Construction work on controversial rail project HS2 has been given the green light to begin despite the current coronavirus lockdown restrictions. The high speed rail link was approved by Prime Minister Boris Johnson in February after uncertainty about whether it would go ahead at all. Work on the four work packages, which involve many of [...]
TfL bailout conditions published as rescue row rolls on May 29, 2020 Transport for London (TfL) has today published the terms and conditions of its £1.6bn bailout from the government as the row over the rescue package continued. In the letter from transport secretary Grant Shapps, TfL was asked to suspend free travel for under 18s and Freedom Pass holders and reinstate the congestion charge in order [...]
EY hit with €95m claim over tax scandal advice February 4, 2020 Big Four accountancy firm EY has been targeted with a €95m (£80.5m) lawsuit for advice it gave to a collapsed bank that allegedly defrauded the German state. The administrator to Maple Bank filed the lawsuit against EY in Stuttgart. The claim relates to the so-called cum-ex scandal which led to the closure of Maple Bank [...]
Asda employees stage fresh protests over contract changes September 16, 2019 Asda employees are protesting across the country over the implementation of a controversial new contract. Protests will take place at nine stores today, including in Leeds, Glasgow and Nottingham, after GMB union members staged demonstrations across the country earlier this month. Read more: Asda under pressure as workers stage nationwide protests Workers have raised concerns [...]
‘Shock’ as Tata Steel announces 3,000 European job cuts, with effects on UK workers unclear November 19, 2019 Unions have called for clarity from Tata Steel over its plans to cut 3,000 jobs in Europe, amid fears the announcement could affect its workers in Port Talbort, south Wales. Tata announced the job losses, which equate to about one-sixth of its workforce, on Tuesday night, as the steelmaker flights plunging profit after a failed [...]
New Labour leader to be announced on 4 April, party confirms January 6, 2020 The new Labour leader will be announced on 4 April, as the party seeks a replacement for Jeremy Corbyn following his disastrous election result last month. The ballot will run from 21 February until midday on 2 April, with the results announced the following Saturday as part of a special conference. The party is allowing [...]
Self-employed coronavirus stimulus: Rishi Sunak to pay Britain’s freelancers up to £2,500 a month March 26, 2020 The government will pay 80 per cent of self-employed workers’ wages, up to £2,500 a month, to deal with the economic fallout from coronavirus. The package was announced by chancellor Rishi Sunak today, giving self-employed workers the same support announced for traditional workers last week. It will be available for any self-employed person who has [...]
Asda under pressure as workers stage nationwide protests over new contract September 5, 2019 Asda is set to face renewed pressure over the implementation of a controversial new contract as disgruntled employees stage protests outside stores. GMB Union members will protest at 15 Asda stores across the UK today, including three London branches, over the new flexible working arrangement. Read more: More than 150 MPs demand Asda backs down [...]