A friend of Gulliver’s recently received some devastating news, in the form of a change to company policy. No longer would he and his co-workers be able to book their own flights and file for reimbursements. Instead, the firm would buy all employees’ plane tickets from the start.On the face of it, this is a convenient change. It saves staff time by ensuring that they do not have to fill in tedious expense forms. But many business travellers may not see it that way. A study from Phocuswright, a travel-research firm, finds that more and more employees are booking their own travel and filing for reimbursements. Sometimes doing so allows for a better itinerary: travellers can avoid annoying layovers and airlines for which they reserve particular ire. Sometimes, if they are feeling generous tow
Britain's top business groups will be excluded from a new round of talks scheduled to take place next week between private sector bosses and David Davis, the Brexit Secretary.Sky News has learnt that the British Chambers of Commerce, CBI, Federation of Small Businesses and Institute of Directors have not been invited to a meeting at Chevening next Friday.The exclusion of the business groups has raised eyebrows among some executives, who are particularly concerned that the consequences of Brexit for smaller businesses will not feature on the agenda.Sources said that executives from companies such as Aviva, Barclays, Burberry and EY had been invited to the summit with Mr Davis.Video:IoD wants 'more regular' Brexit talksAll four of the major business groups, along with the EEF, which rep
Managers of actively run funds can't seem to get a break these days, and that includes closed ones.With the rise of passive investing, their business model and sales pitch for active management have come under seemingly constant attack. The latest domino: funds that had previously been closed to new investors. These funds — often run by prominent managers — have seen outflows on par with open active funds. It's leading them to reopen their gates once again. For some out there, this gives an opportunity to buy.In a closed fund, the managers have decided not to accept new investors. This typically means that the popularity of a manager or a fund grew due to outstanding performance, leading investors to clamor. Once the assets under management become too large, the managers can't safely deplo
“I’VE never known it to be an embarrassment for a business leader to be associated with an American president,” declares Max Bazerman of Harvard Business School. Donald Trump, in particular, has positioned himself as a businessman-president, whose corporate acumen would unleash a new era for American business. Investors seemed to believe him—his election prompted a giddy “Trump bump” in the stockmarket—and corporate bosses flocked to his side. This week they fled. For many, it seems as much a clear-eyed business calculation as a moral awakening.Some distanced themselves more quickly than others. The trigger was Mr Trump’s reluctance to condemn neo-Nazis and white supremacists who staged violent protests in Virginia on August 12th. Kenneth Frazier (pictured), chief executive of Merck, a big
The Prime Minister has struck a conciliatory note to business leaders who have demanded that Britain stays in the Customs Union in a transition period after the legal date of Brexit in 2019.Speaking to Sky News at the G20 Summit, Theresa May chose not to restate the position of the Conservative manifesto that "we will no longer be members of the Customs Union".Instead when asked if businesses should now plan to be out of the Customs Union on 30 March 2019, the PM told Sky News: "We can't be members of every part of the Customs Union but we want to continue to have tariff free and as frictionless trade across borders as possible because we want to ensure we have that good trading relationships with the EU".That language appears to take the Government's position back to where it was at the t...