Airbus’ profits have fallen due to continued problems with certain projects. Airbus stated that there were still issues over “meeting contractual capabilities” securing export orders, cost cutting, and commercial exposure. It also said that technical problems with engines for its new A320neo aircraft were still to be resolved. The warnings came as Airbus posted quarterly…
Debenhams has announced a shake-up strategy aimed at boosting its appeal by investing in its in-store cafes and improving its online offering. The plan includes a review of up to 10 of its 176 UK stores for possible closure over the next five years. A central distribution warehouse in Northampton and about 10 smaller warehouses…
Unilever is to sell its margarine business, including Flora and Stork. It comes as part of a review at the Anglo-Dutch firm, which recently saw off a takeover bid from US food giant Kraft Heinz. The sell-off could fetch $6bn (£4.8bn). Unilever is also studying whether to change its status and looking at the wider…
Lloyd’s of London will establish a new European subsidiary in Brussels to avoid losing business when the UK leaves the EU. Lloyd’s is one of Britain’s oldest institutions and is the world’s leading insurance and reinsurance market. Several investment banks such as Bank of America, Barclays, and Morgan Stanley are considering relocating staff to Dublin…
Shoe retailer Brantano has gone into administration, putting more than 1,000 jobs at risk. The chain was bought out of administration in 2015 by a company controlled by turnaround specialists Alteri Investors. Since then Brantano has suffered from the “depressed and competitive” footwear market, as well as the fall in sterling. Alteri also owns Jones…
21st Century Fox has defended its £11.7bn takeover bid for broadcaster Sky after Culture Secretary Karen Bradley said she was “minded” to intervene in the deal after concerns about about media plurality and broadcasting standards. Ms Bradley has been weighing up whether to refer the deal to Ofcom after warning it could pose “public interest…
Balfour Beatty, the engineering company behind the transformation of the former Olympic Stadium into West Ham’s London Stadium made an £8m profit, after a £199m loss in 2015. In the next few years it plans to be part of the High Speed 2 (HS2) project, the new nuclear power stations at Hinkley and Wylfa, and…
The new minimum wage rates came into force from 1 st October 2016. In light of the subsequent Autumn statement and the forecasts of the Office for Budget Responsibility on wage stagnation, we take a brief look on what they are, how they affect young people and how employers can comply with legislation. Age Group…
Mr Ibrahim Ajaj was an employee at Metroline West Ltd (“Metroline”) for 10 years and was dismissed for gross misconduct for deceptively alleging that he could no longer perform his duties after an injury at work. His allegation was supported by an occupational health advisor and physiotherapist. However Metroline decided to covertly survey him and…
Workers cannot be discriminated against based on age, the Employment Appeal Tribunal (EAT) recently re-inforced. The case of Donkor v RBS related to an appeal by an ex-Regional Director of RBS who had worked at the company since August 1978. Four Directors were placed at risk of redundancy, two over the age of 50; two under…