Living wage fears sending 'shockwaves' through UK labour market
Many employers are scaling back recruitment plans to avoid paying new £7.20 minimum rate for over-25s, Manpower survey shows George Osborne’s £7.20 national living wage is sending “shockwaves” through the labour market as employers seek ways to minimise the extra costs, one of Britain’s largest recruiters has said. Manpower said its survey of 2,100 employers […]
Share buyback is a terrible advert for Glencore's abilities
As the mining company searches for ways to reduce its net debt by about £10bn, last year’s £1bn buyback looks badly timed The curse of the share buyback has struck again. Glencore has become the latest company to spend hundreds of millions of pounds buying back its own shares only to find that it really […]
Kipper Williams on the Brussels farmers' protest
Demonstrators clash with police during milk and meat price protest Continue reading… Source: The Guardian Circular Economy RSS
Chinese stock markets dive after record $94bn fall in central bank reserves
Markets resume rollercoaster ride on news that authorities more than doubled the funds it used to support the yuan during August to $93.9bn Chinese stock markets tumbled again on Monday as it emerged that the Beijing authorities spent nearly $100bn last month propping up the yuan. The $94bn (£61bn) fall in central bank reserves was […]
Sainsbury's and L&G head campaign to simplify boardroom pay
The two chairmen will sit on a panel set up by the Investment Association with the aim of stopping damage created by complex pay structures The chairman of Sainsbury’s and the boss of the insurer Legal & General are to lead a campaign to simplify boardroom pay. David Tyler, chair of the supermarket group, and […]
Sports Direct's board under pressure as City investors lose faith
Royal London Asset Management will vote against re-election of retailer’s executive deputy chairman Mike Ashley and its non-executive directors A City investment firm is to vote against the re-election of Sports Direct’s non-executive directors and executive deputy chairman, Mike Ashley, at the retailer’s annual shareholder meeting on Wednesday. Ashley Hamilton Claxton, corporate governance manager at […]
British cherry harvest hits 30-year high
Smaller trees whose fruit is easier to pick, grown in polytunnels with a consistent Mediterranean-style climate are the secret British cherry farmers are poised to celebrate their biggest annual harvest for more than 30 years after improved growing methods boosted quality and extended the season. Related: Why fruit and vegetables have become their own brand […]
Glencore's former Rich boy rues multibillion-pound loss
Ivan Glasenberg’s current troubles at the mining and commodity trader contrast with how smoothly he climbed the ladder before flotation If shareholders ever complain about the pain they have endured holding Glencore shares since the group’s 2011 flotation, chief executive Ivan Glasenberg has a reply to shut them up: he has suffered far more. The […]
Glencore CEO to shell out $210m during restructuring drive
Commodities trading firm hit by both falling Chinese demand and prices to buy back shares and reduce debt Ivan Glasenberg, the billionaire chief executive of Glencore, is to put up some $210m (£140m) of his own cash as part of a humiliating $10bn programme of fundraising and cuts designed to prepare the company for a […]
Business live: Chinese stock market falls 2.5% despite claim the worst is 'almost over'
Rolling coverage of the latest events across the world economy and the financial markets Record fall in Chinese FX reserves Shanghai stocks drop again Introduction: PBOC governor “The worst is almost over” Eurozone investors gloomier Glencore to cut debt by $10bn 5.28pm BST With two weeks left before snap elections in Greece, parties have submitted […]