Buyout group fights back in care home crisis row June 2, 2011 THE PRIVATE equity industry yesterday hit back at claims it was responsible for Britain’s care home crisis. US private equity firm Blackstone, which owned Southern Cross from 2004 to 2006, has been criticised for the care home operators’ financial woes. But the British Venture Capital Association (BVCA) defended the firm yesterday, saying the accusations were “based [...]
Private equity hits back after union blames it for mishandling business March 22, 2011 THE body representing private equity players has hit back at comments by the GMB union against pub group Punch, following its announcement of a demerger. Unions claimed Punch’s debt pile had been triggered by private equity failures and suggested that the business was being poorly run. The GMB described private equity as the “fifth horse [...]
Acas call CityJet to strike talks February 21, 2011 ACAS has called on airline CityJet to turn up for talks with union bosses in order to avoid further strikes at London City Airport. The industrial dispute service is mediating talks between the GMB union and Aviation Resources, an agency which employs staff on behalf of the airline. Staff are threatening to strike over pay [...]
Acas call CityJet to strike talks February 21, 2011 ACAS has called on airline CityJet to turn up for talks with union bosses in order to avoid further strikes at London City Airport. The industrial dispute service is mediating talks between the GMB union and Aviation Resources, an agency which employs staff on behalf of the airline. Staff are threatening to strike over pay [...]
Staff to work on Royal Wed day February 7, 2011 About 400 staff at a floor company have been told to work on Royal Wedding day, even though the government has declared it a bank holiday. The GMB union said that Lancashire-based Interfloor has told staff that 29 April will be treated “as a normal working day”. Anyone wanting the day off must request to [...]
LBO loans up on last year January 11, 2011 LOANS issued for leveraged buyouts (LBOs) reached a global volume of $89.3bn (£57.4bn) in 2010, indicating the first annual increase since before the downturn. The rise in volume could indicate the return of debt-financed buyouts of firms by investors, as the volume reached nearly five times the amount recorded in 2009 of $18.2bn – the [...]
LBO loans up on last year January 11, 2011 LOANS issued for leveraged buyouts (LBOs) reached a global volume of $89.3bn (£57.4bn) in 2010, indicating the first annual increase since before the downturn. The rise in volume could indicate the return of debt-financed buyouts of firms by investors, as the volume reached nearly five times the amount recorded in 2009 of $18.2bn – the [...]
British Gas shuffles seasonal work October 17, 2010 British Gas engineers will get a pay rise of more than a tenth in return for working longer hours in the winter to tackle higher numbers of gas and electricity problems, it emerged yesterday. The parent company of British Gas, Centrica, and the GMB union have negotiated a deal under which the firm’s 8,000 engineers [...]
SELLAFIELD NUCLEAR SITE CUTS 1,500 JOBS October 7, 2010 MORE than 1,500 jobs are to be axed at the Sellafield nuclear site in Cumbria triggering union fears of a workplace bloodbath in the wake of public sector spending cuts. The GMB union claimed that the job losses – a mixture of redundancies and vacancies that will not be filled – were a direct result [...]
London faces rotten rubbish September 16, 2010 HUNDREDS of thousands of Londoners could face the threat of rotting rubbish this winter after the GMB union threatened to ballot its members over a strike. The proposed industrial action raises raises the prospect of the first national bin strike since the Winter of Discontent in 1978/79, when uncollected sacks of rubbish piled up in [...]