The UK-wide furlough scheme is set to extend until the end of March, Chancellor Rishi Sunak has announced. The Coronavirus Job Retention Scheme (CJRS) will run into the spring of 2021 with employees receiving 80 per cent of their current salary for hours not worked. Similarly, the Self-Employment Income Support Scheme (SEISS) will be increased, with the third grant covering November to January calculated at 80 per cent of average trading profits, up to a maximum of £7,500. Sunak said: ”I’ve always said I would do whatever it takes to protect jobs and livelihoods across the UK, and that has meant…
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Clarks Limited the 195-year-old world-renowned British shoe brand, has reached agreement for LionRock Capital, an Asian private equity firm, to acquire a majority stake in Clarks, with the Clark family to remain invested in the business. The £100 million investment is intended to allow Clarks to position the business for future long-term growth and deliver its strategy to revitalise the iconic footwear brand as it enters its third The LionRock Capital investment in Clarks will be subject to shareholder approval, and shareholders will be asked to vote on the proposed transaction in December. The investment is also subject to a…
On 31 October 2020, it was announced that the Job Retention, or furlough, Scheme was to be extended into December. Below are some key FAQs concerning what we currently know about the extension. Why was the scheme extended? Originally launched in March 2020, the furlough scheme was expected to end on 31 October 2020, to be replaced by a new scheme, the Job Support Scheme, from 1 November. However, as a result of recently announced national lockdown restrictions in England, the furlough scheme has been extended across the UK and the Job Support Scheme postponed. How does the extended scheme…
Barclays has teamed up with Nigel Owens MBE, world-renowned rugby union referee and Welsh cattle farmer, to launch a new campaign to drive awareness amongst consumers on the benefits of helping the food system become carbon net zero. Sustainability Through Agri-Tech will also provide farmers with access to £250 million which is available to support their business to become carbon net-zero. In a survey of 1,000 UK farmers, eight in ten (83 per cent) say that they believe they could be carbon neutral by 2035, five years ahead of the 2040 target set by the National Farmers Union (NFU). One in six…
Regional airline Flybe – which collapsed earlier this year with the loss of thousands of jobs is set to be revived by a former shareholder, who agrees to a deal to buy the airline out of administration. The Exeter-based airline could start flying again early next year following the deal agreed with hedge fund firm Cyrus Capital. Flybe, which flew about 8 million passengers a year between 81 airports in the UK and Europe, had long struggled financially. It was promised fresh investment when a consortium of Virgin, Stobart Air and Cyrus Capital took over the airline in 2019. Virgin Atlantic had…
Twenty one Storks bred at Cotswold Wildlife Park have taken flight in one of the UK’s most ambitious rewilding programmes – The White Stork Project. For the third year running, the Park have successfully bred chicks for this pioneering scheme which aims to restore wild Stork populations to Britain – a sight not seen since the 15th century. It is the first Stork rewilding programme of its kind in the UK. The team at Cotswold Wildlife Park, together with the Roy Dennis Wildlife Foundation, are responsible for the captive management aspect of the project and bred the youngsters from a…
Waitrose has today announced that it is expanding its on-demand grocery trial with Deliveroo to 25 new shops across the UK to meet demand, just six weeks into a 12-week trial. The original trial launched in September in five shops and by 20th October will be available in a further 25 locations*, including new areas such as Winchester, Hereford, Brighton, Glasgow and Solihull. 3.1 million households across the UK will now be able to enjoy Waitrose on Deliveroo for the first time, delivered in as little as under 30 minutes. The trial partnership is proving hugely popular with Deliveroo customers.…
The government’s Job Support Scheme (JSS) will be expanded to protect jobs and support businesses required to close their doors as a result of coronavirus restrictions, the Chancellor announced today, 9 October. Under the expansion, firms whose premises are legally required to shut for some period over winter as part of local or national restrictions will receive grants to pay the wages of staff who cannot work – protecting jobs and enabling businesses to reopen quickly once restrictions are lifted. The government will support eligible businesses by paying two thirds of each employees’ salary (or 67%), up to a maximum…
Greene King has revealed it will not re-open 79 sites as restrictions sparked by the Covid-19 pandemic continue. The closures will mean up to 800 people losing their jobs. The redundancies represent a small fraction of Greene King’s 38,000-strong workforce but underline the concern of employers as the government’s furlough scheme nears its end. AdvertisementGreene King’s venue closures include 11 Loch Fyne restaurants, while other pub groups including Young’s and Fullers are also in the process of cutting substantial numbers In a recent statement, Nick Mackenzie, Greene King’s chief executive, said: “The industry is still dealing with the crippling aftereffects…
The Prime Minister has set out new plans to Build Back Greener by making the UK the world leader in clean wind energy – creating jobs, slashing carbon emissions and boosting exports. £160 million will be made available to upgrade ports and infrastructure across communities like in Teesside and Humber in Northern England, Scotland and Wales to hugely increase our offshore wind capacity, which is already the largest in the world and currently meets 10 per cent of our electricity demand. This new investment will see around 2,000 construction jobs rapidly created and will enable the sector to support up…