News from Business

Indian multimillionaire ordered to give back pay to superyacht crew

Indian multimillionaire ordered to give back pay to superyacht crew

The crew of Indian multimillionaire Vijay Mallya’s superyacht have been awarded almost $1m in back pay after the businessman and former Formula One team owner abandoned the vessel and its 40 crew in Malta more than a year ago. Nautilus, the union...

Guardian, Tuesday, 19:00
 
Spending at UK department stores falls for 13th month in a row

Spending at UK department stores falls for 13th month in a row

Spending at department stores fell for the 13th consecutive month in November, data has shown, as John Lewis revealed a rapid reversal in sales after the Black Friday bonanza. Barclaycard users’ spending at department stores across the UK slumped 7.1%...

Guardian, Tuesday, 18:34
 
BT loses appeal to change method of pensions calculation

BT loses appeal to change method of pensions calculation

BT has lost a legal bid to make changes to its pension scheme that unions claim would have transferred an estimated £2bn of wealth from scheme members to shareholders. The court of appeal dismissed the company’s request to change the way it calculates...

Guardian, Tuesday, 18:34
 

Police inspector will be ‘force for good’ in SBRC role

An experienced Police Scotland inspector has rejoined the Scottish Business Resilience Centre (SBRC) to enhance its retail and tourism offering. Gary Ritchie, who has more than 20 years of policing experience, has been appointed to the role of head of...

Scotsman, Tuesday, 17:09
 
How I bought a house without mum and dad

How I bought a house without mum and dad

Buying a home is almost impossible without access to the bank of mum and dad according to a report published on Tuesday. House prices may have risen by 173% over the last two decades but there are still some millennials who have managed to buy homes...

BBC, Tuesday, 17:03
 
Thomas Cook to slip out of FTSE 250 index in quarterly review

Thomas Cook to slip out of FTSE 250 index in quarterly review

Travel company Thomas Cook is set to drop out of the FTSE 250 this month following a sharp fall in the market value of the company. On the flip side, Aston Martin is poised to enter the index two months after the luxury carmaker made its debut on the...

Guardian, Tuesday, 15:54
 

Revenue injection for Glasgow’s Collagen Solutions

Collagen Solutions, the Glasgow-based life sciences firm, has trimmed its half-year losses after reporting a jump in US sales. Chief executive Jamal Rushdy said the firm remained on track to meet its key initiatives for the year after pre-tax losses...

Scotsman, Tuesday, 14:35
 
Toyota: no-deal Brexit may cost up to £10m a day in lost production

Toyota: no-deal Brexit may cost up to £10m a day in lost production

Toyota has said a no-deal Brexit would put production of £10m worth of cars a day at risk as it urged MPs to ratify Theresa May’s deal next week. The deputy managing director of the Japanese car manufacturer said business could not understand why the...

Guardian, Tuesday, 14:34
 
Mervyn King: Theresa May's Brexit deal is like appeasement

Mervyn King: Theresa May's Brexit deal is like appeasement

Mervyn King, the former governor of the Bank of England, has launched a stinging attack on Theresa May’s Brexit deal, likening it to the appeasement of the Nazis in the 1930s. In a sweeping attack on No10, the Treasury and his successor Mark Carney,...

Guardian, Tuesday, 14:18
 

CodeClan pushes button on revamped partner programme

Edinburgh-based digital skills academy CodeClan has relaunched its partner programme with a focus on innovation and a “growth mindset”. The programme, which currently consists of 228 Scottish businesses, offers partners the opportunity to recruit from...

Scotsman, Tuesday, 14:11
 
Thomas Cook shares fall nearly 60% in eight days

Thomas Cook shares fall nearly 60% in eight days

Thomas Cook's shares continued to fall on Tuesday and have now plunged by nearly 60% in eight days. The travel company's bonds also dropped in value and the cost of insuring its debt against defaulting on payments reached a record high. Concerns over...

BBC, Tuesday, 14:07
 
Thomas Cook shares plunge amid fears over £389m debt mountain

Thomas Cook shares plunge amid fears over £389m debt mountain

Thomas Cook shares tumbled further on Tuesday and the cost of insuring debt issued by the travel firm against default hit a record high, despite its efforts to reassure investors over its worsening performance and £389m debt mountain. The shares...

Guardian, Tuesday, 12:01
 
Martin Sorrell's S4 buys ad firm MightyHive in $150m deal

Martin Sorrell's S4 buys ad firm MightyHive in $150m deal

Sir Martin Sorrell has agreed to buy San Francisco ad tech company MightyHive in a $150m (£117m) deal, his second acquisition since leaving WPP and setting up new venture S4 Capital earlier this year. Sorrell, who set up S4 Capital weeks after being...

Guardian, Tuesday, 10:54
 
Brexit: Food prices could rise 10%, says Bank governor

Brexit: Food prices could rise 10%, says Bank governor

The Bank of England governor, Mark Carney, says food prices could rise between 5% and 10% if there is no orderly Brexit plan. Mr Carney told a committee of MPs that in the most "extreme" scenario, prices would go up by 10%, but in a more...

BBC, Tuesday, 10:43
 
Govia Thameslink keeps franchise but must pay out £15m over timetable chaos

Govia Thameslink keeps franchise but must pay out £15m over timetable chaos

Govia Thameslink Railway will hold on to Britain’s biggest rail franchise but must spend £15m on passenger improvements after its “unacceptable performance” during the botched timetabling roll-out in May. GTR will make no profit from the franchise in...

Guardian, Tuesday, 10:38
 


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