As businesses glimpse at submit-pandemic business plans, investigation from Hitachi Money mentioned over a quarter (27%) of United kingdom place of work employees polled are willing to consider a salary reduction, with all those on a reduced wage much more prepared to acquire a strike.
The data confirmed 40% of Londoners eager to just take a cut, in comparison to just 13% of office environment workers in the South West (see knowledge in daring at the end).
The examine also identified millennials are most possible to take into account having a smaller sized income, followed by about 55s (25%) and 45–54-yr-olds (24%) “if it intended the reduction was a lot less than their regular vacation commit and there was elevated flexibility from their employer”.
Immediately after extra than a calendar year of doing the job from household in some scenarios, bosses are hunting at a array of long term workspace choices, from lessening house, to hybrid operating.
Some tech giants have delayed back again to business plans, like Amazon and Google. The latter’s boss Sundar Pichai told personnel: “For some destinations, problems are beginning to strengthen, however in numerous components of the planet the pandemic carries on to create uncertainty. Acknowledging that, we’ll lengthen our international voluntary return-to-office policy through January 10, 2022 to give far more Googlers overall flexibility and option as they ramp again.”
Hitachi’s study said pure flexible doing work is the desired selection for 28% of respondents, followed by 3 days at property and two in a office.
Theresa Lindsay, team marketing and advertising director at Hitachi Capital Uk, said: “The pandemic has led to a seismic shift in the way individuals want to perform in buy to proficiently deal with their do the job and home daily life commitments.”
Lindsay included: “Moving forward, our study plainly exhibits that the clamour for flexible functioning is so pronounced that numerous employees are even organized to sacrifice their income to realize a far better work-everyday living equilibrium in the very long time period.”
In this article are the percentages of men and women surveyed in the Hitachi study who stated they would be willing to acquire a pay back minimize to get the job done from dwelling permanently:
FTSE live: Recovery hopes after China Evergrande shock as National Express and Stagecoach unveil merger
he FTSE 100 index has rebounded after Monday’s turbulence, with another big rise for airline giant IAG and a strong session for Royal Dutch Shell helping to offset the contagion fears triggered by the plight of debt-laden Chinese property firm Evergrande.
There’s also more merger and acquisition activity after National Express and Stagecoach confirmed talks over a potential tie-up, while interim results from B&Q owner Kingfisher have included plans for a £300 million buyback and higher dividend. A surprise bid for Entain from US fantasy sports group DraftKings has provided some afternoon excitement.
Ladbrokes owner Entain surges on surprise $20 billion bid
It’s a bid day for deals. First Stagecoah and National Express, then BT’s possible DAZN transaction, now a possible Entain takeover.
“There can be no certainty that any offer will be made for the Company, nor as to the terms on which any such offer may be made,” the company said. “A further announcement will be made as and when appropriate. Shareholders are urged to take no action at this time.”
The brief statement followed a report by CNBC breaking news of the approach. CNBC said the offer was worth $20 billion.
Shares in Entain jumped 15% following the report. Entain was valued at £12.9 billion ($17 billion) prior to the spike.
Here are the main stories in the market this lunchtime:
– The FTSE 100 is up 86 points, or 1.2%, to 6990. The index is rebounding from a sell-off on Monday driven by fears that Chinese real estate giant Evergrande could default on its $300 billion debt pile. Concerns about possible global contagion have eased slightly.
BT jumps on sports sale report
DAZN, a startup backed by billionaire Sir Leonard Blavatnik, is in “advanced” discussions to buy BT Sports and a deal could be announced within weeks, the Financial Times reported. The story sent shares in BT climbing 2.7% in London.
The deal would be a significant coup for DAZN, a London-founded startup that has been called the ‘Netflix of sport’ in the press. DAZN offers subscription sports streaming services and has made its name in combat sports like boxing and UFC, as well as NFL. Despite being founded in London, the company has a smaller footprint in the UK than in North America.
A deal to buy BT Sports would significantly expand DAZN’s reach in Britain and hand the company rights to Premier League matches.
UK residential transactions jumped last month
There was more positive news from the property market today with HMRC saying home sales bounced back in August, up a third higher on July.
An estimated 98,300 transactions took place last month, a 21% year on year rise.
Low mortgage rates, the tail-end of the stamp duty holiday and a continued “race for space” maintained momentum.
Mike Scott at estate agency Yopa said: “The housing market has recovered very quickly from the dip in activity after the stamp duty deadline at the end of June.”
Alphawave soars on microchip boom
The world may be in the midst of a microchip shortage but that hasn’t stopped Alphawave coining it.
The Canadian chip designer, which listed in London in May, today reported surging half-year sales and revenues and upgraded full-year forecasts. Bookings surged 490% to $196.1 million (£143.3 million) and revenue jumped 140% to $27.6 million.
Alphawave, which designs chips and then licenses them to manufacturers, said it was seeing a boom in demand due to ever increasing connectivity. Its chips are going into data centers, 5G networks and cars, among other things. CEO Tony Pialis called it a “breakout period” for the company.
Executive chairman John Holt said the ongoing global microchip shortage was an “opportunity” for the company as it was leading to investment in new factories to meet demand. That in turn was helping to fill order books.
Profit dipped 36% to $2.7 million as IPO costs hit the company’s bottom line. Alphawave upgraded its forecast for full year revenue growth by 25% to 125%. Shares in the business rocketed 40.6p, or 11.9% to 382.20p.
British Steel’s shutdown warning as gas price mayhem boils
British Steel today issued a stark warning over power prices “spiralling out of control” as the gas crisis swept across the UK economy.
The nation’s second-biggest steel producer said the colossal hikes — up 50-fold from £50 per megawatt-hour to £2500 per MWh since April — are making the power-hungry production process impossible at certain times.
“With winter approaching, when demand will rise, prices could get significantly worse,” the company said.
British Steel, owned by Chinese conglomerate Jingye, said it was maintaining production at “normal levels” for now but the spike in costs could not be “absorbed or ignored.”
Pitt v Clooney coffee wars boost Soho ad legends M&C Saatchi
M&C Saatchi has launched a coffee war ad campaign that puts Brad Pitt up against friend and rival George Clooney.
Pitt is the new face of Italian brand De’Longhi, going head-to-head with Clooney and Nespresso.
That was just one client win of several in the half-year that see the Soho firm bounce back from a tough two years that included an accounting scandal and a management overhaul.
Revenues jumped 15% to £171 million, profit soared from £2 million to £10.5 million.
Stagecoach takeover makes sense for both companies
The surge in both Stagecoach and National Express’ share prices today shows that the City sees value in this deal on both sides.
Both businesses operate large fleets that could benefit from shared servicing. Both need to invest large sums to get ready for the Net Zero future. A combined balance sheet offers more borrowing power and heftier buying power.
In many ways, what’s surprising is that this deal hasn’t happened sooner. Stagecoach first tried to buy National Express in 2009. Activist investor Elliott advocated for a merger at National Express three years later. It’s been a coy dance ever since.
The one thing that could burst the tyres on this deal is the competition watchdog. A deal with this much impact on the UK’s transport infrastructure will no doubt be scrutinized closely.
Stagecoach shares soar on takeover talks
Shares in Stagecoach jumped over 20% after confirming it was holding merger talks with rival National Express.
Both companies said in separate statements that they were engaged in talks about a possible all-share combination that would see National Express subsume Stagecoach. Deal talks were first reported by Bloomberg.
National Express is offering Stagecoach shareholders 0.36 shares in National Express for every Stagecoach stock they hold, which would give Stagecoach investors 25% of the combined business. The offer represents a premium of around 18% based on Monday’s closing price.
Shares in both businesses jumped in early trading, valuing the Stagecoach bid at around £480 million.
The boards of both companies said the deal would be “strategically compelling”, promising cost savings, growth, and value for both sets of shareholders.
Pernod Ricard reveals deal for The Whisky Exchange
As well as branches in Covent Garden, Great Portland Street and London Bridge, the Whisky Exchange also comprises an online business which stocks some 4000 whisky, 700 rum and 600 gin brands.
In addition, the firm is known for online auctions of rare spirits.
Read the full story HERE.
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