Founder Favourites: Richard Farleigh on what playing chess, investing and starting a business have in common
Giving Uber drivers “worker” status is bad news for passengers, the gig economy and the drivers themselves October 28, 2016 Friday's decision to grant two Uber drivers worker status is bad news not just for Uber, but for its drivers, its customers, and the future of the “gig economy” as a whole. It is primarily bad for Uber drivers. We know for a fact that, by vast margins (five to one), they don’t want to [...]
M&S’ Brexit: Marks and Spencer to close its Paris flagship store October 26, 2016 Marks and Spencer is planning to shut its flagship store in Paris, according to reports. The British retailer wants to scale back its international operations to save on costs, Bloomberg has reported. Read more: MPs call for debate on "loopholes" in national living wage legislation The decision will be formally announced by chief executive Steve Rowe [...]
Living wage boost secures inflation-busting pay rises October 26, 2016 Pay packets grew for only the second time since the financial crisis last year, as low-paid workers earned a bumper pay boost as a result of the new national living wage (NLW). Across the UK, pay rose by 2.2 per cent in the year to April 2016, the Office for National Statistics (ONS) said this [...]
Boom time in the City as Brexit gives a boost to professional advisers October 24, 2016 The UK's vote for Brexit has delivered a big boost for City advisers as firms scramble to find out how they should respond to a period of unprecedented uncertainty. Insolvency firm Begbies Traynor found the number of professional services firms in "significant financial distress" had dropped by 10 per cent since the EU referendum, as new [...]
Fenwick family takes out £5m dividend despite warning on new cost pressures October 23, 2016 The Fenwick family has taken a £4.8m from their department store chain while warning about the pressure government is placing on the retail sector. According to accounts for the year to the end of January 2016, the company's sales rose by 1.2 per cent in the past year, reaching £431.7m. Pre-tax profits were up by a quarter [...]
John Lewis opens flagship store in Leeds October 20, 2016 John Lewis has opened a flagship store in Leeds that it says will focus on providing customers with experiences, rather than just goods. The £37m store at the Victoria Gate Development in Leeds has created 550 jobs for the area. Read more: John Lewis warns on job losses due to its commitment to staff pay [...]
Parcel delivery giant Hermes face HMRC inquiry after low-pay allegations October 20, 2016 Courier giant Hermes has been referred to HMRC following complaints that they are paying staff less than the national living wage. Employees at the firm, who deliver for John Lewis and Next, were taking home less than the national living wage once petrol costs were taken out, a recent investigation found. Hermes workers also said they received no holidays or [...]
HSBC marks out the winners and losers from the national living wage October 19, 2016 HSBC has today outlined how businesses can combat the cost pressures of the national living wage – and the kind of companies that will be the winners and losers from the legislation. The best way to offset the new costs is to find productivity growth, HSBC analysts said in a note, although "this would require a [...]
Asos to move employees onto a higher living wage in the next 18 months October 18, 2016 Hitting back at accusations that it mistreats workers, Asos said today it will be moving employees onto the living wage foundation level of pay over the next year and a half. The Living Wage Foundation sets a separate minimum wage for employers that companies opt-in for. Currently, companies in the scheme pay a minimum of £8.25 [...]
Self-employed workers taking home less today than 20 years ago, think tank figures show October 18, 2016 Self-employed workers are taking home less today than 20 years ago, according to new figures from the Resolution Foundation. The think tank found that while the UK's self employed workforce has grown dramatically, average earnings remain below levels recorded in 1994/5. Average weekly take home has recovered after falling by a quarter in the wake of [...]