The Chartered Institute of Personnel and Development (CIPD) has said that government spending cuts could raise employment levels from 2.5 million to nearly 3 million. Cuts in the public service must be made to avoid sharp tax rises. Chief economic adviser John Philpott has estimated that half a million jobs are likely to be lost [...]
Following the recent oil spill in the gulf of Mexico, BP’s shares have fallen almost 40%. President Obama launched an attack on BP on Tuesday 8th of May stating he would sack the chief executive of BP if he could. President Obama has called for the chief executive of BP to step down as soon [...]
Increasing player wages is threatening the stability of premier league football clubs. During the 2008 to 2009 season clubs spent sixty seven percent of their income on player wages. Chelsea had the highest wage bill at £167 Million while Manchester City’s wage bill went up from £54 Million to £83 Million. During the last 3 [...]
Many businesses are relying on young people working for them unpaid. One in five businesses will offer work placements and internships this summer but many are expected to offer these as unpaid. Sectors like fashion have unpaid internships available for newly graduates, but the employers have to be careful that they are not laying out [...]
The 2010 Fifa World Cup in South Africa has been insured for an estimated £6.2 Billion. The world’s biggest insurance company, Lloyds of London, is holding policies for Fifa, the national teams, broadcasters and a number of other firms. Training facilities and stadiums are insured for £3.2 Billion. Broadcast rights, sponsorship, prizes, competitions, and any [...]
British Airways cabin crew are on strike for 5 days from today after talks with the union unite broke down. With the recent ash cloud grounding most flights in and out of the UK, this could spell disaster for the UK airline. However British Airways have announced that 60 percent of its long haul flights [...]
Christmas shoppers will spend as much this festive season as last year despite the UK remaining in recession, Deloitte has predicted. However, the accountancy firm said that the impact of job losses and higher taxes would mean spending is likely to be squeezed at Christmas next year. People were cutting back on daily indulgences such [...]
Arsenal director Stan Kroenke has moved to the brink of the threshold where he would have to make an offer for the entire stockholding of the club.
The US billionaire has bought another 200 shares in Arsenal’s holding company, at £8,500 each, taking his shareholding to 29.9%. Mr Kroenke bought 100 of the shares from Arsenal [...]
New car sales recorded their biggest increase so far this year in October, helped by the scrappage scheme. The Society of Motor Manufacturers and Traders (SMMT) said 168,942 new cars were registered last month, an increase of 31.6% compared with October 2008. The SMMT said the “cash for bangers” incentive scheme had accounted for more [...]
The Financial Services Authority (FSA) has fined Swiss banking giant UBS £8m for failing to stop its employees making unauthorised transactions.
The FSA said four UBS employees had carried out the transactions using customer money on at least 39 accounts. The unauthorised activities took place between January 2006 and December 2007. The FSA also said the [...]
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