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.... This is just one source of funding into Learndirect Limited”. The company, which has paid out tens of millions of pounds to its owners and managers since privatisation, had sought a court injunction to prevent the publication of a highly critical report by the education regulator Ofsted. ... [Read full article on Guardian ]
Tuesday 15th of August 2017 07:03:32 PM
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....The Ofsted report, which was finally published on Thursday, said Learndirect’s directors and senior managers had “failed to take swift and decisive action to stem the decline in performance over the past three years”. Oftsed found that the company, which has paid out tens of millions of pounds to its owners and managers since privatisation, “requires improvement” or is “inadequate” in all seven areas of its inspection criteria. ... [Read full article on Guardian ]
Thursday 17th of August 2017 09:24:49 AM
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.... A spokesman for Daniels declined to comment to the Times. Daniels, a 66-year-old American, has already had millions of pounds of bonuses clawed back due to the bank’s mis-selling of payment protection insurance. ... [Read full article on Guardian ]
Tuesday 22nd of August 2017 11:22:18 AM
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Latest Finance News related to Millions Of Pounds

Former Lloyds boss Eric Daniels sues bank for withheld bonuses image
Source : Guardian [Read Article] Tuesday 22nd of August 2017 11:22:18 AM
.... A spokesman for Daniels declined to comment to the Times. Daniels, a 66-year-old American, has already had millions of pounds of bonuses clawed back due to the bank’s mis-selling of payment protection insurance. ...
Learndirect blames government cuts for damning Ofsted report image
Source : Guardian [Read Article] Thursday 17th of August 2017 09:24:49 AM
....The Ofsted report, which was finally published on Thursday, said Learndirect’s directors and senior managers had “failed to take swift and decisive action to stem the decline in performance over the past three years”. Oftsed found that the company, which has paid out tens of millions of pounds to its owners and managers since privatisation, “requires improvement” or is “inadequate” in all seven areas of its inspection criteria. ...
Department for Education pulls all Learndirect contracts and funding image
Source : Guardian [Read Article] Tuesday 15th of August 2017 07:03:32 PM
.... This is just one source of funding into Learndirect Limited”. The company, which has paid out tens of millions of pounds to its owners and managers since privatisation, had sought a court injunction to prevent the publication of a highly critical report by the education regulator Ofsted. ...
Sky set to retain live Football League rights in £180m-a-year deal image
Source : Guardian [Read Article] Tuesday 8th of August 2017 09:38:39 PM
....Last month, Jeremy Darroch, the chief executive of Sky, said that the company had “walked away” from bidding for some sports rights recently as there was better value in spending the cash elsewhere in the business. Sky has spent years building its entertainment programming, including long-term deals with Game of Thrones maker HBO and launching Sky Atlantic for top-flight shows, and spending hundreds of millions of pounds annually on original commissions such as glitzy Riviera. ...
UK car industry facing an 'utterly demoralising' Brexit image
Source : Guardian [Read Article] Friday 4th of August 2017 04:01:06 PM
....“There is significant cost because every company has to do a certain level of modelling and planning for risk,” he said, warning that smaller companies did not always have the resources to do this work. While impossible to quantify precisely, Hawes said the cost must be multi-millions of pounds already, including for consultants advising on Brexit implications. ...
Why bitcoin and its digital cousins are under increasing scrutiny image
Source : Guardian [Read Article] Monday 31st of July 2017 03:54:14 PM
....103 of a bitcoin. Last week the Russian national Alexander Vinnik, who allegedly defrauded early adopters of millions of pounds’ worth of bitcoins, including funds obtained from the hack of failed bitcoin exchange Mt Gox, was arrested in Greece. ...
Jimmy Choo auctioned off to US fashion brand Michael Kors for £900m image
Source : Guardian [Read Article] Tuesday 25th of July 2017 08:00:16 AM
.... Choo sold his 50% stake in 2001 and Mellon departed in 2011 when JAB Luxury bought the firm for more than £500m. After a somewhat acrimonious departure, Mellon last year unsuccessfully sued her former employer for millions of pounds in damages claiming it had tried to sabotage her new business, a luxury footwear bearing her own name, by allegedly trying to prevent its suppliers from producing her designs. ...
Guardian Media Group cuts losses by more than a third image
Source : Guardian [Read Article] Tuesday 25th of July 2017 08:00:00 AM
....GMG paid £622,000 in charitable donations and gifts in kind to the Guardian Foundation, an increase of more than 10% over the previous year. After the newspaper operation breaks even, GMG forecasts it will continue to make a sustainable loss – in the low teens of millions of pounds – relating to pension contributions, capital expenditure and endowment fund costs. ...
The coal truth: how a major energy source lost its power in Britain image
Source : Guardian [Read Article] Wednesday 19th of July 2017 04:16:25 PM
....Rather than running all year as they used to, they now fill the gaps in the energy system when output from wind turbines and solar panels is low. Almost all have secured subsidies worth hundreds of millions of pounds to provide backup power in coming winters, under a new scheme known as the capacity market. ...
End of the 'rip-off': all charges for paying by card to be banned image
Source : Guardian [Read Article] Tuesday 18th of July 2017 11:01:04 PM
. All extra charges added to payments for goods and services made by card are to be outlawed, ending a “rip-off” that costs Britons hundreds of millions of pounds a year, the government has announced. ...
Karren Brady to chair firm that owns Philip Green's Arcadia group image
Source : Guardian [Read Article] Monday 17th of July 2017 02:40:37 PM
....Born in north London, Brady began her career in advertising sales, joining Saatchi & Saatchi straight from school. She moved on to London radio station LBC where she was headhunted by David Sullivan to run marketing for his Sunday Sport paper after she persuaded him to buy millions of pounds’ worth of advertising. ...
Jeremy Clarkson TV firm made £8m profit after Amazon's Grand Tour image
Source : Guardian [Read Article] Friday 14th of July 2017 10:09:41 AM
.... Hammond and May also quit the BBC following the departure of Clarkson. At the BBC, he made tens of millions of pounds from Top Gear’s huge international success from Bedder 6, a company he set up with the corporation’s commercial arm, BBC Worldwide. ...
Coca-Cola to increase amount of recycled plastic in its bottles image
Source : Guardian [Read Article] Tuesday 11th of July 2017 09:09:29 PM
....3bn, according to the most up-to-date estimates from Euromonitor International’s global packaging trends report. Coca-Cola said it would hit its 50% target by investing millions of pounds in “Europe’s largest and most advanced plastic bottle recycling facility” based in Lincolnshire. ...
Chancellor urged to recover money lost from recruitment sector tax avoidance image
. The chancellor is being asked to reassure parliament that he will recover any monies lost to aggressive tax avoidance in the recruitment sector, after a Guardian investigation exposed how millions of pounds could be lost to the exchequer. ...
Recruitment advisers' tax scheme liquidated after HMRC asks questions image
. An aggressive tax avoidance scheme, linked to one of the recruitment industry’s highest-profile names, is being liquidated in a move that could prevent HM Revenue and Customs from recouping millions of pounds. ...
UK to fund research into letting electric cars return power to grid image
. The UK plans to invest millions of pounds to explore how the batteries in thousands of electric cars could help the power grid and drive take-up of the cleaner vehicles. ...
Mike Ashley tells high court: I'm a power drinker, I like to get drunk image
.... Cowgill told the court on Thursday that he had no knowledge of the senior management’s pay. Ashley clarified on Thursday that he had paid his brother John, who was in charge of IT at Sports Direct, “millions of pounds”. ...
Fuel savers image
Source : BBC [Read Article] Wednesday 5th of July 2017 11:12:32 PM
...."It is a very hot topic," says Prof David Shipworth at University College London, referring to the rise of AI technologies in the tech and energy sectors. "If companies can avoid doing upgrades [of physical infrastructure] and things like that, that can save hundreds of millions of pounds," he explains. ...
Rangers tax case: supreme court rules in favour of HMRC image
Source : Guardian [Read Article] Wednesday 5th of July 2017 05:02:13 PM
....“It gives HMRC the authority to pursue them for income tax without the need to embark on a further series of legal actions,” he said. “The process of issuing follower notices to recoup payment of what is expected to be tens of millions of pounds in income tax could begin almost immediately. ...
Mike Ashley: former colleague is trying to extort millions over 'banter' image
. Mike Ashley has accused a former colleague of trying to extort millions of pounds from him by making out that a joke during “ludicrous” drunk banter amounted to a £15m business deal. ...
Channel 4's Bake Off set 'will be product-placement-free' image
Source : Guardian [Read Article] Sunday 2nd of July 2017 02:25:38 PM
....While Channel 4 needs to recoup at least £75m to make its three-year deal pay off, it is understood to have decided to give up highly lucrative product placement deals in order to keep the show commercially “clean”. Such deals could have been worth millions of pounds. ...
Deliveroo set to become a tech 'unicorn' as investors seek a slice image
Source : Guardian [Read Article] Sunday 2nd of July 2017 11:57:55 AM
....However, while customers benefit from having pizzas, burgers and noodles from chains such as Byron, PizzaExpress and Wagamama delivered to their front door, Deliveroo’s operating model has come under fire. Like other gig-economy companies, such as the taxi-hailing app Uber, Deliveroo uses thousands of self-employed contractors rather than employees, a model saving millions of pounds in holiday pay, sick pay and tax. ...
Fixed-odds betting terminal review delayed until autumn image
Source : Guardian [Read Article] Friday 30th of June 2017 06:11:07 PM
....Bookmakers have claimed that the campaign to cut stakes to £2, which has support from Labour and the Liberal Democrats, is motivated by vested interests concerned about the success of their rivals. And the ABB has also claimed that curbing FOBT stakes would force the closure of thousands of bookmakers, cost 20,000 jobs and deprive the Treasury of millions of pounds in taxes. ...
Rolls-Royce safeguards 7,000 jobs in East Midlands image
Source : BBC [Read Article] Thursday 29th of June 2017 09:30:43 AM
....Simon Hemmings, from the Unite union, said the deal was "a once in a generation type of investment and a big commitment to the UK". "It's about keeping jobs in Derby for 25 years plus and we are hoping it will bring hundreds of millions of pounds to the city," he added. ...
Co-op Bank abandons sale talks as it edges towards rescue deal image
Source : Guardian [Read Article] Monday 26th of June 2017 05:25:23 PM
. The Co-operative Bank has abandoned talks over a sale after edging closer to clinching a deal with hedge funds to stump up millions of pounds to bolster its financial position. ...
Bond Street: status of UK's most exclusive shopping street under threat image
....Paul Souber, of property consultancy Colliers International, said a number of Bond Street leases were being “quietly marketed”. In a sign that demand for expensive stores in the West End of London is faltering, Souber said potential tenants are no longer required to stump up millions of pounds of “key money” that had become standard – the premium a brand hands over to the existing retailer to buy their lease, in addition to the rent agreed. ...
Move by UK supermarkets threatens to bring Fairtrade crashing down image
Source : Guardian [Read Article] Saturday 24th of June 2017 11:02:13 PM
.... “Why change a system that has worked well for 25 years for both poor farmers and large supermarkets?” asked one. Had not the supermarket reaped tens of millions of pounds’ profit and huge moral kudos by pioneering Fairtrade and inviting customers to pay a bit more for their produce?. ...
Google and Facebook 'will lose millions in ads over extremism fears' image
Source : Guardian [Read Article] Thursday 22nd of June 2017 06:14:48 AM
. Advertisers will pull hundreds of millions of pounds in spending from Google and Facebook this year over concerns about ads running next to inappropriate content such as extremist sites and fake news. ...
Co-op Bank in advanced talks to secure hundreds of millions for rescue image
....The UK’s largest mutual, which owns supermarkets and funeral homes, has a 20% stake in the bank, which put itself up for sale in February in a search for £750m of extra funding. But under a proposal being discussed by the bank’s controlling hedge fund shareholders, this stake could drop towards zero unless the group decides to pump millions of pounds into the loss-making bank. ...
Fred Goodwin escapes high court appearance as RBS settles lawsuit image
Source : Guardian [Read Article] Tuesday 6th of June 2017 11:50:13 AM
.... Last week they met the RBS chief executive, Ross McEwan, in an effort to persuade him to increase the offer, which was already double the previous settlements. Neil Mitchell, a businessman involved in a separate business legal suit against RBS, said he had met funders in the Lanesborough Hotel in London on Monday evening in an attempt to secure the millions of pounds needed to keep the case alive. ...
London attack: Tech firms fight back in extremism row image
Source : BBC [Read Article] Sunday 4th of June 2017 03:05:46 PM
....Prime Minister Theresa May called for areas of the internet to be closed because tech giants had provided a "safe space" for terrorist ideology. But Google said it had already spent hundreds of millions of pounds on tackling the problem. ...
Feeding the kitty image
Source : BBC [Read Article] Wednesday 31st of May 2017 12:01:02 AM
.... It will be their first visit since 2005, in what should be a mouth-watering series of clashes. Each Lions tour generates millions of pounds in turnover, with revenues pouring in from major sponsorship deals, tourism and other events such as high-profile gala dinners. ...
BA to take 'some days' to clear baggage backlog image
Source : BBC [Read Article] Monday 29th of May 2017 11:17:43 PM
....The focus is now likely to shift towards the financial impact on the airline. BA is liable to reimburse thousands of passengers for refreshments and hotel expenses, and travel industry commentators said the cost to the company - part of Europe's largest airline group IAG - could run into tens of millions of pounds. ...
BA - what are my rights?  image
Source : BBC [Read Article] Monday 29th of May 2017 02:03:20 PM
. BA faces paying out millions of pounds in compensation after the failure of its computer systems led to long delays and cancellations over the weekend. ...
BA boss 'won't resign' over flight chaos image
Source : BBC [Read Article] Monday 29th of May 2017 12:33:23 PM
.... . BA is liable to reimburse thousands of passengers for refreshments and hotel expenses, and travel industry commentators have suggested the cost to the company - part of Europe's largest airline group IAG - could run into tens of millions of pounds. ...
British Airways flight chaos lessens after weekend of disruption image
....". BA is liable to reimburse thousands of passengers for refreshments and hotel expenses, and travel industry commentators have suggested the cost to the company - part of Europe's largest airline group IAG - could run into tens of millions of pounds. ...
Edinburgh Woollen Mill acquires Jaeger brand in plan for new chain image
Source : Guardian [Read Article] Sunday 28th of May 2017 04:46:27 PM
....Administrators have closed at least 20 of its 46 stores, making more than 200 staff redundant, and they remain in charge of the core business and its remaining staff. A group of suppliers owed millions of pounds is considering taking legal action against its former owners. ...
Jaeger suppliers owed millions consider legal action against ex-owners image
. A group of suppliers owed millions of pounds by the collapsed fashion retailer Jaeger is considering taking legal action against its former owners. ...
Workers 'suffer £200 pay cut' to fund pension deficits image
Source : BBC [Read Article] Monday 22nd of May 2017 07:16:46 AM
. Workers may be suffering from lower pay as a result of their employers spending millions of pounds to keep their pension schemes afloat. ...
Remote air traffic control preparing for takeoff at London City airport image
....Any security fears are dismissed by Mike Stoller, Nats operations director for airports, who said this system is no more hackable than current aircraft control: much of Britain’s airspace outside airports is already managed remotely from Swanwick. Typically, the cost of constructing a traditional aircraft tower – in the tens of millions of pounds – as well as staffing it could be potentially prohibitive for smaller airfields. ...
Affordable art image
Source : BBC [Read Article] Tuesday 16th of May 2017 11:00:59 PM
Ex-BHS owner Dominic Chappell could be pursued by Sir Philip Green for millions image
. Dominic Chappell, the former owner of BHS, could be pursued for millions of pounds owed to Philip Green’s business empire as well as to creditors of the now collapsed department store. ...
Britain's booming pension funds see retirement income surge by 12 per cent  image
Source : Daily Express [Read Article] Thursday 11th of May 2017 04:32:00 PM
....This has helped see the average pension fund deliver a return of four per cent in the first three months of this, year with 95 per cent of funds delivering positive growth. Some six per cent of the funds, which hold millions of pounds of Britons' pension savings, have seen double-digit growth. ...
Noel Edmonds demands £73m compensation over HBOS fraud image
Source : Guardian [Read Article] Wednesday 10th of May 2017 10:12:13 AM
.... Among them was the former HBOS banker Mark Dobson, who was sentenced to four-and-a-half years in prison and is referred to in the letter sent to Horta-Osório by Edmonds’ lawyer Jonathan Coad at Keystone Law. The letter said: “These individuals were fraudsters whose corrupt activities also resulted in losses to my client of tens of millions of pounds, along with his suffering deep distress and public humiliation. ...
British Gas owner warns Tory energy price cap could push up prices image
....”. Conn also raised the spectre of accelerating the company’s cost-cutting plan to cope with the hundreds of millions of pounds staff analysts predict a price cap will cost Centrica. ...
Pearson shareholders reject chief executive's £1.5m pay package image
Source : Guardian [Read Article] Friday 5th of May 2017 01:32:23 PM
....One investor at Pearson’s annual meeting accused the board of being “asleep on the job” and said the remuneration strategy had “manifestly failed and has been paying for failure”. “We do not need millions of pounds paid for shoddy performance such as we have seen at this company,” he said. ...
Accounting watchdog to investigate KPMG over Rolls-Royce audit image
Source : Guardian [Read Article] Thursday 4th of May 2017 07:22:01 AM
....”. Rolls-Royce apologised at the high court in January after it was found to have paid bribes including a luxury car and millions of pounds’ worth of cash to middlemen to secure orders in Indonesia, Russia, China, Thailand, India and Nigeria. ...
MPs' report on FOBTs found to breach parliamentary standards image
Source : Guardian [Read Article] Wednesday 3rd of May 2017 05:51:21 PM
.... Casinos and amusement arcades have lined up on the side of campaigners who say the machines stoke problem gambling and allow excessively high stakes. The ABB has said there is no evidence to suggest that FOBTs fuel problem gambling and argues that thousands of jobs would be lost, as well as millions of pounds due to the Treasury, if they are reined in. ...
Bankruptcy risk as ‘desperate’ councils play the property market image
Source : Guardian [Read Article] Saturday 29th of April 2017 10:10:17 PM
.... This, in turn, has attracted interest from other councils. But such copycat behaviour is a concern, according to Cable, who drew comparisons with 2008, when many councils were left exposed after depositing millions of pounds in high-interest rate accounts offered by Icelandic banks, which then went bust. ...
How to find the best personal loan without damaging your credit rating image
Source : Guardian [Read Article] Saturday 22nd of April 2017 06:00:06 AM
. Underhand tactics by leading personal loan providers are costing Britons hundreds of millions of pounds a year, it was claimed this week. ...
Tata Steel offers £520m pensions payment in bid to secure future image
Source : Guardian [Read Article] Thursday 20th of April 2017 05:14:48 PM
.... This would lead to workers suffering a 10% cut to their benefits but can only happen if Tata Steel persuades the regulator that it is on the brink of insolvency and cannot continue to support the pension scheme. Tata will also have to provide hundreds of millions of pounds to help fund the scheme and the PPF can demand a stake of up to 33% in Tata Steel UK so that it benefits from the future success of the business. ...
Libor rigging: chancellor urged inquiry into Bank of England allegations image
....Libor is used as a reference point around the world for loans and mortgages and is set each day by a panel of leading banks, with each one submitting the rates at which it is willing to borrow. Revelations that the rate was rigged at the height of the financial crisis have led to banks being fined hundreds of millions of pounds from a variety of regulators, while bankers from Barclays and UBS have been jailed. ...
Judges reject US banker's claim to be a genius in divorce case image
Source : Guardian [Read Article] Tuesday 11th of April 2017 01:07:22 PM
....5bn fortune. Holman had ruled that although Work was an “astute businessman”, Gray was a “highly intelligent” woman who had given up her career to follow her husband to Tokyo, where he made hundreds of millions of pounds exploiting the Japanese financial crisis. ...
BBC to air recording that implicates Bank of England in Libor scandal image
Source : Guardian [Read Article] Monday 10th of April 2017 06:45:56 PM
....Libor is used as a reference point around the world for loans and mortgages and is set each day by a panel of leading banks, with each one submitting the rates at which it is willing to borrow. Revelations that the rate was rigged at the height of the financial crisis have led to banks being fined hundreds of millions of pounds from a variety of regulators, while bankers from Barclays and UBS have been jailed. ...
Lloyds to pay £100m fraud compensation image
Source : BBC [Read Article] Friday 7th of April 2017 08:40:13 AM
....Six people, two of whom had worked for Halifax Bank of Scotland (HBOS) - owned by Lloyds - were jailed in February. The court heard they stole hundreds of millions of pounds from small businesses who were their clients. ...
Competition watchdog to examine warranties for new homes image
Source : Guardian [Read Article] Friday 7th of April 2017 06:30:36 AM
.... These 22-year-old undertakings were designed to improve competition in the warranty market. The review was announced amid concerns that NHBC is compromising its independence by paying millions of pounds to developers every year. ...
Pension freedoms: Thousands of savers charged emergency tax – are YOU owed money back? image
.... "This might be because they don’t know they have paid too much tax or the process to reclaim it just seemed too complicated. "Whatever the reason, there is likely to be millions of pounds sat with HMRC that could be legitimately reclaimed. ...
Deliveroo accused of 'creating vocabulary' to avoid calling couriers employees image
....In a six-page document seen by the Guardian, Deliveroo says its couriers, who deliver takeaways, should always be referred to as “independent suppliers” – self-employed workers with few employment rights – rather than as employees, workers, staff or team members. The business models of gig-economy companies such as Deliveroo and taxi app Uber are based on using thousands of self-employed contractors rather than employees – a move that saves them millions of pounds in holiday pay, sick pay and tax. ...
No yolk: Cadbury and National Trust say Easter egg row is nonsense image
Source : Guardian [Read Article] Tuesday 4th of April 2017 05:15:40 PM
....Eggs at Easter are thought to have their origins in pagan rather Christian traditions. Now the consumption of chocolate is indelibly associated with Easter, and has become an industry worth hundreds of millions of pounds. ...
Serious Fraud Office boss warns big names to play ball – or else image
Source : Guardian [Read Article] Saturday 1st of April 2017 03:00:28 PM
....Green pushed for DPAs to be introduced in the UK and then oversaw the first settlements in the UK. These have meant that high-profile investigations have resulted in companies paying out hundreds of millions of pounds, when previously the UK has struggled to prosecute firms. ...
Location, location, location – where will Channel 4 move to? image
Source : Guardian [Read Article] Saturday 1st of April 2017 02:59:28 PM
....The broadcaster is vehemently against the move, with chief executive David Abraham saying that it would be “highly damaging” to its business model. “In our estimation the costs of a full relocation would run into tens of millions of pounds that could otherwise be invested in creative businesses across the UK, and also risks distracting the organisation from its central purpose for years,” Abraham wrote in an email to staff. ...
Broadband users in line for millions in Ofcom compensation plan image
Source : Guardian [Read Article] Friday 24th of March 2017 09:31:46 AM
. Broadband and landline customers who suffer poor service could get millions of pounds of money back automatically under a scheme proposed by Ofcom. ...
Energy price cap implications ominous, former regulators say image
Source : BBC [Read Article] Thursday 23rd of March 2017 06:49:47 AM
.... . City analysts have estimated such a cap could knock hundreds of millions of pounds off the profits of the major suppliers. ...
Channel 4 chief executive David Abraham to stand down image
Source : Guardian [Read Article] Tuesday 14th of March 2017 03:30:33 PM
....Abraham has also had to deal with rebuilding the broadcaster, both financially and creatively, after the high-rating and hugely profitable Big Brother was axed just before his arrival. Channel 4 had come to rely on the show, which in its heyday hauled in audiences of up to 8 million and made tens of millions of pounds in profits, but the reality series had become too toxic to fit in with its public service remit. ...
Ivy restaurant spin-off accused of hogging service charge image
Source : Guardian [Read Article] Sunday 12th of March 2017 03:08:46 PM
....”. However, Dave Turnbull, regional officer of Unite, which has led a long-running campaign against unfair handling of service charges and tips, said the Ivy Collection group could be saving millions of pounds a year by using the 12. ...
Why are Britain’s new homes built so badly? image
Source : Guardian [Read Article] Saturday 11th of March 2017 07:00:27 AM
.... NHBC says in about half of the homes where it provides warranty, building control is carried out by another body, usually the local authority. Questions have been raised over NHBC’s independence after it emerged that the organisation pays millions of pounds to housebuilders every year. ...
Budget: National Insurance rise criticised image
Source : BBC [Read Article] Wednesday 8th of March 2017 03:42:03 PM
....Matthew Taylor, head of the Royal Society of Arts, is due to produce a report on how the self-employed are taxed later this year. He has already said that the Treasury is missing out on millions of pounds, as a result of the workers who have been designated as self-employed. ...
Government abdicating responsibility for social care, say providers image
Source : Guardian [Read Article] Tuesday 7th of March 2017 07:00:36 AM
.... “What we will start to see is far less services at a time when we have got far more need,” he added. Despite the pressure on the sector, Green defended the large companies in the industry, such as private equity-owned Four Seasons, which have significant debts and are paying millions of pounds in interest ever year. ...
A Mini part's incredible journey shows how Brexit will hit the UK car industry image
....“The margins are slim for OEMs [original equipment manufacturer] – 5% to 10%. If you add a 10% tariff you could charge the customer more – which is unlikely – or you look at it very quickly and say ‘It’s going to to cost us hundreds of millions of pounds a year or the cost of a new plant is £800m to £1bn, so let’s move manufacturing’. ...
REVEALED: Winners and losers of Bank of England's money-printing programme  image
Source : Daily Express [Read Article] Thursday 2nd of March 2017 04:57:00 PM
....Policymakers slashed interest rates to 0. 5 per cent and injected hundreds of millions of pounds into the economy through Quantitative Easing in 2009. ...
Dominic Chappell to fight legal action forcing him to pay BHS pensions image
Source : Guardian [Read Article] Wednesday 1st of March 2017 06:44:02 PM
. Dominic Chappell, the last owner of BHS, has pledged to fight legal action by the Pensions Regulator designed to force him to pay millions of pounds into the failed retailer’s pension scheme, saying the black hole in the scheme was not his fault. ...
Car insurance: Chancellor moves to ease insurers' fears image
Source : BBC [Read Article] Tuesday 28th of February 2017 09:11:23 PM
....By the time inflation is taken into account, real returns on such bonds have become negative. The reaction of the insurance industry has been overwhelmingly negative, with some insurers saying that profits would be hit by hundreds of millions of pounds. ...
Insurers shocked by reform to compensation payouts image
Source : BBC [Read Article] Monday 27th of February 2017 12:39:36 PM
.... . "Meanwhile insurance companies, which have saved millions of pounds in unpaid compensation, have been aware that a decision to change the discount rate has been on the cards for six years, since APIL first began judicial review proceedings on the issue. ...
NHS faces £1bn annual bill after 'reckless' change to injury payouts image
Source : Guardian [Read Article] Monday 27th of February 2017 10:45:09 AM
....David Johnson, a partner at law firm Weightmans, said the decision “will drastically increase the size of lump-sum payments across the scale of serious personal injury cases”. “For those who compensate these claims, the annual claims outlay will potentially increase by tens of millions of pounds as a result of this change. ...
Insurance premiums 'set to soar' after compensation changes image
Source : BBC [Read Article] Monday 27th of February 2017 09:21:10 AM
....The Ministry of Justice said it had no choice under the current law, and said it would consult on possible changes. Shares in insurance companies fell, with some saying that profits would be hit by millions of pounds. ...
Green Investment Bank: Australian bidder woos MPs as protests continue image
Source : Guardian [Read Article] Thursday 23rd of February 2017 10:33:25 AM
....Lord Barker, a former climate change minister, and Cable, a former business secretary, warned ministers this week that the taxpayer risked being shortchanged by the sale, as assets such as offshore windfarms under construction would be worth far more later. “It is clear that this could amount to a windfall of hundreds of millions of pounds to Macquarie, at the expense of the taxpayer,” they said in a letter to business secretary Greg Clark. ...

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