Future of Work

Postal workers to be balloted on strike action over cuts and closures

Postal workers are to be balloted on strike action over job cuts, pension changes and post office closures, the Communication Workers Union says. It says about 3,500 of its members will be balloted on whether to launch industrial action. The ballot will be for staff in Crown offices, supply chain depots and administration sites across […]

William Hill receives merger offering from two rival gambling companies

UK betting firm William Hill has received a merger offer from rival gambling companies 888 and Rank Group as consolidation in the sector continues. William Hill said it would “listen to and consider” any proposal. However, it was not clear that a combination of William Hill, 888 and Rank would “deliver superior value”, the company […]

Sainsbury’s takeover of Home Retail Group gets approval from regulator

Sainsbury’s £1.4 billion takeover of Argos owner Home Retail Group has been approved by the competition regulator. The supermarket chain welcomed the decision by the Competition and Markets Authority on Friday to “unconditionally” clear the acquisition. The (CMA) had said it was looking into whether the tie-up with Home Retail could result in a ”substantial […]

Millenials earned £8k less in their 20’s than the generation before

Millennials could become the first generation to earn less than their predecessors, analysis by a think-tank has found. The Research Foundation found that under-35s have been hit hardest by the recent pay squeeze and earned £8,000 less during their 20s than a typical person in the previous generation – known as generation X. The finding […]

Business confidence among finance chiefs hits record low after Brexit vote

Business optimism among finance chiefs has plunged to its lowest level on record in the wake of Britain’s decision to quit the European Union. A survey by consultancy giant Deloitte shows that 73% of chief financial officers (CFO) are less optimistic about the prospects for their company following the referendum result, up from 32% in […]

Holiday company goes bust and puts the blame on Brexit!

Holiday booking company Lowcost Travelgroup has gone into administration, as uncertainty ahead of the EU referendum and the fall in the pound were blamed for its demise. The group has 27,000 holiday makers in resorts and 110,000 more with bookings. Administrators said Lowcost Travelgroup ceased trading on Friday, with the loss of 120 jobs in […]

Ronan Dunne leaves O2 following failed takeover bid from Three

O2 lost its chief executive Ronan Dunne after 15 years at the helm with the company’s future still uncertain after regulators blocked CK Hutchison’s Three £10.5bn takeover bid. Chief financial officer Mark Evans will be promoted to chief executive from August 1, charged with helping the Telefónica subsidiary consider its options including a potential London […]

Poundland accepts £597 million takeover bid from ‘The IKEA of Africa’

Troubled discount chain Poundland is to be snapped up by South African retailer Steinhoff International after agreeing a £597 million takeover deal. Poundland accepted the 222p-a-share bid after rejecting a cash offer from Steinhoff – dubbed the IKEA of Africa – last month for an undisclosed sum. The deal comes after Steinhoff – which owns […]