The chief executive of Hornby has said the company was in “chaos” when he took over almost two years ago. Lyndon Davies, who was appointed in October 2017, said that the senior management had to be removed as they did not understand the business. Hornby is best known for its model trains, but also owns […]

Monsoon Accessorize is calling on landlords to approve rent reductions on some of its 258 leased stores as part of a restructuring of the troubled High Street chain. The two chains operate under separate names and are asking for rent cuts on 135 stores after a period of ‘difficult’ trading. To win support from landlords, […]

A report by the financial watchdog, which recommends no further action against Royal Bank of Scotland’s controversial restructuring business, has been called a ‘whitewash’. A group of MPs said the Financial Conduct Authority failed to find out whether the bank’s management were involved in the group’s activities. RBS’s Global Restructuring Group has been accused of […]

Accounting giant PwC has been fined £6.5m over its audit of the cloud computing firm Redcentric. The Financial Reporting Council (FRC), which regulates auditors, reduced the fine to £4.55m after PwC admitted its mistakes. The FRC said some of the breaches were of a “fundamental nature, evidencing a serious lack of competence in conducting the […]

Wage growth beat market and economist expectations in the three months from February to April. Pay rose by 3.4% compared with a year ago. After taking inflation into account, wage growth was 1.4%, official figures show. The unemployment rate remained at 3.8% and has not been lower since the October to December 1974 period, the Office […]

Picture this scene. You’ve arrived at the office nice and early, a hot coffee on your desk and fingers poised over the keyboard. You’re ready to work and ready to smash it. But before you can start, laughter and loud conversation breaks out, your phone starts to ping with Facebook notifications, someone’s talking about TV […]

Research has uncovered UK employers’ most promoted perks to attract young working professionals. When it comes to wellbeing perks, the results are quite surprising, and not in the most favourable light. Through the analysis of 8,700 job advertisements in the country over the last year, the Perkbox research has found that the perks most promoted […]

Uber has posted a $1bn (£790m) loss as the ride-hailing firm delivered its first figures since a disappointing flotation earlier this month. The quarterly loss came despite a 20% rise in revenues to $3.1bn and increase in monthly active users to 93 million. The results were in line with many analysts’ forecasts and may provide […]

Ryanair’s profits fell by nearly a third last year to €1bn (£880m) as fuel costs rose and fares fell. Europe’s biggest discount airline added that profits could be lower this year as fares continue to fall. For the current financial year, the carrier said it was ‘cautious’ on pricing and had ‘zero’ visibility for the […]

Often underpinned by irregular and late payments, gig economy workers face many vulnerabilities that those in full time work do not face. Sick leave, regular appraisals, and pensions are all things that freelance workers do not have the luxury of receiving despite many being at the same company for a number of years. It is estimated […]