Next apologises to staff for underpaying them for months after payroll malfunction July 17, 2022 Next has apologised to staff who have been underpaid for several months after a new IT system malfunctioned. Staff have been underpaid for months after payroll functions were outsourced to the US tech firm Oracle in February, according to The Sunday Times. The London-listed firm has been trying to solve the error for months, with [...]
Kwarteng to announce supply side reforms in ‘medium-term fiscal plan’ next month September 26, 2022 Kwasi Kwarteng will announce a package of supply side reforms next month in a “medium-term fiscal plan”, the Treasury has announced. The Treasury said it would include “changes to the planning system, business regulations, childcare, immigration, agricultural productivity, and digital infrastructure”, as well as post-Brexit changes financial services regulation. It will also include details on [...]
Walsh: Heads must roll if airport chaos repeated next year July 17, 2022 OUTSPOKEN global aviation boss Willie Walsh laid into Heathrow management again this weekend, warning that any repeat of this year’s chaos should see bosses given the boot. The Hounslow airport has been bruised and battered by passenger demand outstripping expectations, leaving staff shortages, last-minute delays and myriad stories of travel chaos on social media. “If [...]
Walmart maintains outlook for next year as profits tighten against inflationary pressures August 16, 2022 US retail giant Walmart’s profits were eaten into by inflation as it maintains its outlook for the next financial year despite revenue being up 8.4 per cent. The supermarket chain took in $152.9bn in Q2 but said this strong growth was “partially driven by inflation”, which tempered its outlook, and its profits. Its comparative sales [...]
Tory leadership: Shapps and Raab back Rishi Sunak to be next PM July 12, 2022 Transport secretary Grant Shapps and deputy Prime Minister Dominic Raab have backed Rishi Sunak to be the next Tory party leader, with the former chancellor today vowing “a return to traditional conservative economic values” if he becomes Prime Minister. Shapps’ endorsement comes after he decided to call off his faltering campaign and throw his lot [...]
Which country will be next to make Bitcoin legal tender? April 29, 2022 Bitcoin will be legal tender in at least one more African and one Central or Latin American country in 2022, predicts a financial guru.
From strikes to Avanti West Coast: Here the top five things to look out for in rail next year December 28, 2022 Railway has taken centre stage in the UK public discourse as the tug of war between unions and train operators over the past six months has led to unthinkable misery to millions of people and businesses. Rail minister Huw Merriman said last month the walkouts had cost the UK economy £500m, while hospitality and retail [...]
Widening losses for Deliveroo while Next chair Lord Wolfson exits board August 10, 2022 Delivery platform Deliveroo has posted a heftier loss while also announcing the departure of Next chair Lord Simon Wolfson from its board. In its half-year results, the London-listed firm posted an adjusted EBITDA loss of £68m, a wider loss than the £26m posted in the first half of 2021. However, it marked an improvement of [...]
Hunt has killed off Trussonomics but his next steps vary from bad to worse October 19, 2022 This week, new chancellor Jeremy Hunt delivered a damning eulogy of Trussonomics right in front of its creator.
Mark Kleinman: Why Barclays’ £1bn Telegraph bid won’t be the last word, Alison Rose’s next move and why no one wants to be chair of the BBC October 19, 2023 The must-read column from the man in the know, City Editor at Sky Mark Kleinman Barclays’s £1bn Telegraph bid not the last word Hold the front page: the Barclay family’s effort to lodge a knockout bid for The Daily Telegraph was timed like the arrival of a blockbuster newspaper story minutes before the final edition, [...]