Business
“80%” of Scottish PFI schools “owned by offshore firms”
Over two hundred Scottish schools that have been constructed under PFI (private finance initiative) are in some way owned by investment funds located offshore. This means that 80 per cent that could be at least partly located outside of the UK. PFI schemes have come under criticism recently as schools, hospitals and other large public sector build projects are locked into huge payments over a number of years, that can typically range up to 30. Many public institutions are struggling to...
The Night Tube: What You Need to Know
After months of delays, strikes and negotiations, the London night tube is finally set to run from midnight tonight. Trains will initially run on the Victoria and Central lines on Fridays and Saturdays, before moving to a 24/7 model across Central, Jubilee, Northern, Piccadilly and Victoria lines. According to the BBC, there are also plans to expand the service to parts of the Metropolitan, Circle, District, and Hammersmith & City lines after modernisation and on parts of the London Overground...
Virtually every major bank predicting a UK recession post-Brexit
There have been many reports and indicators that the UK economy is struggling post-Brexit. It is still early to tell but a Treasury report today does not make great reading. The Independent reports the document indicated that most of the major banking institutions in the capital have cut their growth forecasts for the UK economy in 2017. The figures have been downgraded since the EU referendum vote and the UK’s decision to leave the European project. Many of these banks...
Specsavers to Trademark “Should’ve”
Specsavers has moved to put permanent dibs on the commonly-used verb "should've" after the opticians approached the UK Intellectual Property Office (IPO) for a trademark. The company used the phrase "should've gone to Specsavers" in it marketing and branding and has become commonly associated with the word, which has given it grounds to apply for exclusive use. If approved, it would mean that other companies will not be able to use "should've" and "shouldve" in their marketing. Despite some commentators demonstrating...
Three Ways Tech Can Turn Your Business Dreams into a Reality
If you've ever dreamed of running your own business but never had the time, money or opportunity then you may be in luck. As it's done in countless industries around the world, IT technology has made it possible for anyone to do almost anything and in 2016 that luxury has been afforded to small business owners. While the advent of modern technology can't quite guarantee your business will blossom, it can help you turn a dream into reality. So why...
Sports Direct to pay back staff £1m
Sports Direct has been under increasing pressure from Government and the media due to accusations of unfair and possibly illegal working practices. The focus of most investigations into the organisations have been on the company’s main warehouse Shirebrook. It was discovered employees were being paid below the minimum wage. Alongside that the company’s use of zero-hour contracts has come under a lot of criticism. Now after a series of negotiations a deal has been arranged that will benefit thousands of...
Local Businesses Lined Up For Deptford Market Yard
A host of local businesses have been given a platform at the soon-to-open Deptford Market Yard. Some of the best start-ups and independents from Deptford’s buzzing creative and entrepreneurial community will take residence within the renovated historical railway arches next to Deptford station, building on the already thriving local market and retail scene. Many of the new businesses are local start-ups who will have their first permanent, physical space in the outlet. Previously they’ve run street food trucks, pop up shops and market stalls in the...
London’s 24 Hour Economy ‘Could Be Worth £30bn’
London’s 24 hour economy could be worth nearly £30 billion to the capital each year by the start of 2030, according to new research. It is currently worth up to £26.3 billion annually, around eight per cent of London’s gross domestic product, and directly supports one in eight jobs – a figure of 723,000 workers. The report suggests this could rise to 790,000 in less than 15 years. The research, undertaken by London First – the membership group for London...
Brexit hits South East and capital’s economy the most
New data has come to light that indicates that businesses in the South East and London have suffered the most since the decision to leave the European Union. Companies in the region have had a negative impact on the service and manufacturing sectors. Output has contracted for the first time in almost four years as the uncertainty of what will happen in a post-Brexit UK has decreased demand. It appears business are very cautious about investing when they have no...