Business and Economics

Business and Economics News

Fury as Southern Rail make £100m profit & get £20m Govt “bailout”

In news that will make rail users across the country angry, but probably not surprised, Southern Rail’s owner announced their profits hit £100m and also received a £20m Government “bailout.” If that wasn’t enough bad, boss David Brown got a pay rise. He will get £2.16 million in 2016, up from £1.96 during 2015. Brown’s bumper pay rise will still go-ahead in spite of being the head of a network that has the worst punctuality record of any franchise in the...

FDI Figures ‘Misleading’

FDI figures that show the UK enjoyed record breaking inward investment have been branded misleading. New figures show that 2,213 inward investment projects were secured in 2015-16 - an 11 per cent increase on the previous year. This led to around 116,000 jobs being created or safeguarded - the second highest number on record, the Department for International Trade said. However Professor Nigel Driffield of Warwick Business School said that in the period that covers these figures the expectation among political commentators...

EU slaps Apple with 13bn euros tax bill

What does the EU ever do for us? It is a question that many people in the UK asked during the referendum, they concluded the EU does very little and voted for Brexit. Well today, according to European commission rules, Apple should repay Ireland 13bn euros or 11bn pounds in back taxes. Interestingly the Irish government are not very happy about the ruling. The EU has been involved in a three-year investigation into the tech giant and concluded that the...

The beginning of the end? Huge NHS cuts across England

The NHS has been thrown into even more turmoil, after plans have been revealed to conduct huge cuts across England’s NHS. According to the BBC, who have been able to access a draft planning document, the NHS will see ward closures, cuts in bed numbers and alterations to GP and A&E care across the country. Many will see these cuts as the end of free health care as we know it, as services are cut and shortfalls may well be picked...

How will Brexit Impact the Fairness of the UK Economy and Job Market?

For now, the spectre of Brexit continues to loom large over the British economy, with the subsequent uncertainty arguably far worse than either leaving or remaining in the European Union. This is one of the biggest ironies associated with the EU referendum, as mere threat of Brexit continues to disrupt the status quo and create an unstable, volatile and ultimately unpredictable economy. The Brexit vote is laced with irony, however, particularly when you consider the leave camp's demographics and the...

“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...

£9.3bn! Private landlords have doubled housing benefit income in a decade

A shocking new report has found that private landlords hauled in £9.3bn in 2015. It is huge figure and double what the level was a decade ago. The study was undertaken by the National Housing Federation (NHF) and they said the figure was due to a huge increase in private tenants who are receiving housing benefit. A decade ago the there was £4.6bn handed out to private landlords by the state. These figures will anger many, who will see taxpayers’...

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...

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