Inquiry launched into abuse of tipping
Business secretary says it is ‘just not right’ that some restaurants are withholding service charges from staff The business secretary, Sajid Javid, has launched an investigation into the abuse of tipping after it emerged that some of the UK’s best-known restaurant chains were withholding service charges from their staff. A string of reports over the […]
Rattled investors brace for big week as Federal Reserve considers rate increase
After last week’s ‘Black Monday’ amid concerns over China, Wall Street is preparing for the release of economic reports that could drive the Fed’s plans After a tumultuous week on the world’s stock markets, investors will be focused on Wall Street Monday ahead of another set of economic reports likely to steer the Federal Reserve’s […]
The innovators: a new U-bend to prevent the buildup of fatbergs in sewers
James Seers’s reworking of the plumbing under domestic sinks separates out solid waste and oil and has the potential to save water companies millions It was two years ago when the residents of a block of flats in Kingston upon Thames complained of difficulty in flushing their toilets that the alarm was first raised. The […]
Central banks can’t save the markets from a crash. They shouldn’t even try
Alarming data from China was met with a soothing hint about monetary policy. But treasuries cannot keep pumping cheap credit into a series of asset bubbles Like children clinging to their parents, stock market traders turned to their central banks last week as they sought protection from the frightening economic figures coming out of China. […]
Pirc’s Stagecoach campaign departs early
The transport operator has announced a 99.4% vote in favour of a pay award that the advisory group opposed. Never mind: there’ll be another one along shortly Stagecoach, the bus and train operator, has responded in unusually frank terms to a call for shareholders to oppose its remuneration report at this week’s annual general meeting. […]
Bank of England chief says interest rate plans unaffected by Chinese slowdown
Speaking at Jackson Hole conference, Mark Carney says situation must be monitored but ‘recent events do not yet merit changing strategy’ on inflation The governor of the Bank of England, Mark Carney, said on Saturday that a slowdown in China’s economy could push down further on inflation but did not change, for now, the central […]
Fed vice-chairman hints at interest rate increase in speech on inflation
‘The door is definitely open’ to a September rate increase, a senior economist said in response to Stanley Fischer saying factors that kept inflation down are fading Federal Reserve vice-chairman Stanley Fischer left the door open Saturday for a Fed rate increase in September, saying the factors that have kept inflation below the central bank’s […]
What will China’s Black Monday mean for the UK?
As jittery investors brace for more shockwaves after last week’s rout on world markets, we look at the impact, from property to petrol prices This was supposed to be the year when normality returned to the global economic landscape. Growth was looking more established and the legacy of the financial crisis was dimming. The US […]
B&W owner hopes to become a big noise for speaker firm
Canadian Joe Atkins tells Karl West why he is looking to entrust his high-end electronics company in West Sussex to the likes of LVMH Joe Atkins has a contacts book that includes George Lucas, the Sultan of Brunei and the senior management teams at Apple and Maserati. For 30 years he has built Bowers & […]
7-Eleven chain allegedly pays some staff in Australian stores just $10 per hour
Around two-thirds of 7-Eleven shops are underpaying their employees, many of whom are foreign students, it is alleged The 7-Eleven convenience store chain pays many of its Australian staff just $10 an hour, an investigation says. A report by Fairfax Media and ABC’s Four Corners program says around two-thirds of 7-Eleven shops are underpaying their […]