Business

Business 12-06-2018

New rules force companies to justify pay gap

The government is set to announce new rules, which will force big businesses in the UK to make gap between executive and worker pay public. The laws, which will apply to companies of 250 employees or more, also means companies will need to justify the salaries given to top bosses. The move comes as a […]

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Business 12-06-2018

Scotland sees record overseas investments

EY’s latest Scotland Attractiveness Survey shows a boom in activity from overseas, with a record number of Foreign Direct Investment (FDI) projects. The report had figures for 2017 sitting 7% higher than the previous year, the third consecutive year of record growth. The figures showed FDI projects rising from 108 in 2016 to 116. Business […]

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Business 12-06-2018

Rolls-Royce planning job cuts

In an attempt to increase profits, Rolls-Royce is poised to cut over 4,000 jobs. The cuts, which reports say will be announced later this week, come as a part of simplifying the company’s middle-management and administrative structure. JP Morgan analysts estimated the cuts could save £200 million within the next three years. A Rolls-Royce spokesman […]

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Business 08-06-2018

Premier League chief Richard Scudamore to step down

After almost 20 years in charge, the Premier League’s executive chairman Richard Scudamore is to resign by the end of this year. Scudamore announced the news in front of EPL shareholders a their meeting in London. The 58 year old made a statement, saying: “It’s an absolute privilege to have been allowed to enjoy this […]

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Business 08-06-2018

Thousands of jobs at risk as House of Fraser announce closures

In their last step to avoid administration, House of Fraser plans to shut 31 stores across the UK, over half of their 59 total. The move is likely to put 6,000 jobs in jeopardy, as part of a company voluntary arrangement (CVA), which bosses hope will save the business from going under. Under a CVA, […]

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Business 08-06-2018

Northwest clubs lead record Premier League revenues

Deloitte’s Sports Business Group has released their annual review of football finance, finding positive results for the English Premier League, lead by five Northwest clubs. Manchester United, Manchester City, Liverpool, Everton and Burnley combined to earn approximately £1.7 billion in revenue for 2016/17, out of £4.5 billion total from the league’s 20 clubs. Three of […]

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Business 08-06-2018

Facebook admits data sharing with Chinese manufacturers

Facebook continues to be in the spotlight in regards to their handling of user data. The company confirmed data sharing partnerships with four Chinese mobile phone manufacturers, which allowed the makers access to Facebook users’ data. Facebook defended the partnerships, one of which was with Huawei. The Chinese telecom company has long been the subject […]

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Business 08-06-2018

Amazon to boost UK with 2500 new jobs

Amid Brexit-related uncertainty, the British workforce has received good news with retail giant Amazon committed to adding 2500 new permanent jobs before the end of the year. The positions, which include 650 head office positions, will take the number employed by the company in Britain to around 27,500. Amazon’s UK Country Manager Doug Gurr said […]

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Business 06-06-2018

Persimmon takes heat over director bonuses

MPs grilled UK housebuilders Persimmon over an executive bonus scheme which has resulted in public outcry. Persimmon board member Marion Sears appeared before parliament to answer questions regarding the scheme, which has been labeled “grossly excessive”. While taking questions from Business, Energy and Industrial Strategy Committee chair Rachel Reeves, Sears initially did not mention almost […]

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Business 06-06-2018

Time running out for ports ahead of Brexit

European port bosses have urged MPs that the “clock is ticking” on border plans with the impending Brexit move. Representatives from Getlink, Calais and Zeebrugge met with the Treasury Committee, saying that they needed details on border control measures required once the move happens. They warned that it may be too late to stop any […]

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