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Austal Australia in discussions over future ship-building contract

Austal Australia in discussions over future ship-building contract

Business
July 12 (UPI) -- Austal Australia engaged in a fourm at Bendigo, Victoria, in Australia with local suppliers to discuss Austal and German ship-design firm Fassmer's joint bid for the Royal Australian Navy's $ 3 billion Offshore Patrol Vessel program."With the government's national shipbuilding plan there is $ 89 billion being invested to deliver the next generation of the Royal Australian Navy's fleet," Davyd Thomas, Austal Australia Defense vice-president, said in a press release."As the country's largest defense exporter, we look forward to working with Bendigo companies as we continue to grow our operations in Australia and overseas."The Offshore Patrol Vessel program calls for a fleet of 12, with construction begining in Australia in 2018 and first delivery by 2021. The costs over the ...
UK unemployment drops to 1.49m

UK unemployment drops to 1.49m

Business
UK unemployment fell by 64,000 to 1.49 million in the three months to May, official figures show.It meant the unemployment rate fell by 0.2% to its lowest since 1975, at 4.5%, the Office for National Statistics (ONS) added.But wage increases continued to fall further behind inflation.Excluding bonuses, earnings rose by 2.0% year-on-year. However, inflation had hit an almost four-year high of 2.9% in May.When the impact of inflation is factored in, real weekly wages fell by 0.5% compared with a year earlier.Mark Carney: UK wage growth 'anaemic'UK workers 'frustrated by flatlining pay'UK inflation rate at near four-year high'Picture little changed'"Despite the strong jobs picture... there has been another real-terms fall in total earnings, with the growth in weekly wages low and inflation st...
Taylor Review: All work in UK economy should be fair

Taylor Review: All work in UK economy should be fair

Business
Media playback is unsupported on your deviceAll work in the UK's economy should be "fair and decent", a government review of employment practices has said. The report by former aide to Tony Blair, Matthew Taylor, pays particular attention to the gig economy.It recommends that workers for firms such as Uber and Deliveroo should be classified as dependent contractors, with extra benefits.The Prime Minister said the government would take the report's recommendations seriously.Mr Taylor said there was a perception that the gig economy put too much power into the hand of employers: "Of all the issues that were raised with us as we went around the country, the one that came through most strongly was what the report calls one-sided flexibility. "One-sided flexibility is where employers seek to tr...
Uber-style working review attacked as 'feeble'

Uber-style working review attacked as 'feeble'

Business
A long-awaited review of the rights of gig economy workers - who are freelance or have temporary contracts and work irregular hours - is facing a union backlash.The findings of the Government-commissioned report, which were widely leaked in advance, calls for additional protections for those employed by the likes of Uber and Deliveroo amid claims they are exploited.The review, led by the head of the Royal Society of Arts, Matthew Taylor, recommends a new category of worker called a "dependent contractor" be created to bolster rights to sick pay and holiday pay.:: Plans to shape the future of the UK's gig economy But he stops short of demanding a blanket minimum wage - instead calling for two-way flexibility on the issue of pay, with companies having to pay at least the minimum wage in exch...
Carillion shares hammered after profit alert

Carillion shares hammered after profit alert

Business
Shares in construction and outsourcing giant Carillion have plunged by more than 40% after it issued a profit warning and its chief executive quit.The global firm said it was taking an £845m hit after a review of badly performing contracts, and that it would suspend dividends for this year as it seeks to shore up its finances.Carillion, which in the UK runs services for hospitals and schools and manages smart motorways, which use technology to manage traffic flow, said full-year results would miss previous expectations.It prompted a big shares sell-off that knocked two-fifths, or more than £300m, off the group's market value in early trading. The stock closed 39% lower.Carillion, whose recent projects include the expansion of Liverpool's Anfield stadium and the redevelopment of Battersea P