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Tag: cash

HS2 redundancy pay 'shocking waste' of taxpayer cash

HS2 redundancy pay 'shocking waste' of taxpayer cash

Business
Unauthorised redundancy payments made by the state-owned company managing the HS2 rail project were a "shocking waste of taxpayers' money", MPs have said.The Public Accounts Committee said the firm overseeing construction of a high-speed rail line offered staff terms "well in excess" of authorised levels.The MPs blamed "weak internal processes" at HS2 for overpayments to 94 people totalling £1.76m.An HS2 spokesperson acknowledged "a serious error" had been made.The company made the payments in 2016-17 after shedding 94 staff in a move from London to Birmingham.A combination of compulsory and voluntary redundancy schemes were offered on enhanced terms, resulting in a total bill of £2.76m, despite instructions from the Department of Transport that they should be at statutory rates, which wou

AMC Entertainment May Hit Up European Investors for Cash

Finance
AMC Entertainment (NYSE: AMC) stock is down a stunning 67% over the past year. The movie theater industry has not only had to deal with an underwhelming box office but also long-term concerns over the rise of streaming video and the potential for a shortened first-run movie window .AMC's fall has been even more severe than that of other large theater chains, however, due to its high level of debt. As of the end of the recent quarter, AMC had a whopping $ 4.3 billion in debt. Including capital leases, the number is almost $ 5 billion. That's very high, considering AMC has a market capitalization of just $ 1.5 billion. That debt load was due to AMC buying three other theater chains over the past year -- Carmike Cinemas, Odeon (in the U.K,  Germany, Austria...
China is pumping a lot of cash into its economy to calm investors

China is pumping a lot of cash into its economy to calm investors

Finance
China has been pumping a lot of cash into its system to lift market sentiment, as the world's second-largest economy walks a thin line between curbing debt and keeping everything running smoothly.Last week, the People's Bank of China injected cash totaling 810 billion Chinese yuan ($ 122.4 billion) in five straight days of daily liquidity management operations. Those actions, which represented the largest weekly net increase since January, were in part a Beijing response to its 10-year sovereign bond yields spiking to multiyear highs, experts said."Surging Chinese government bond yields hit the nerve of policymakers, so in order to further prevent a greater surge, they injected liquidity into the system to improve market sentiment," said Ken Cheung, a foreign exchange strategist at Mizuho ...
We want our Brexit cash boost – NHS boss

We want our Brexit cash boost – NHS boss

Health
The health service should get the cash boost it was promised during the EU referendum, the head of the NHS in England is expected to say later.Simon Stevens will use controversial claims used by Vote Leave to put the case for more money in a speech later.With waiting times worsening, he will say trust in politics will be damaged if the NHS does not get more.During the referendum it was claimed £350m a week was sent to the EU and that would be better spent on the NHS.The claim was widely contested at the time and ever since - it did not take into account the rebate the UK had nor the fact the UK benefited from investment from the EU.Some argued it proved highly influential in the referendum result.If you can't see the NHS Tracker, click or tap here. 'Honour the promises'The speech by Mr Ste
Here's How ADP's Acquisition Of Global Cash Card Might Help It Grow Further

Here's How ADP's Acquisition Of Global Cash Card Might Help It Grow Further

Finance
Shutterstock photoADP has recently acquired Global Cash Card , the company offering pay cards and other electronic payment accounts, thereby allowing employers the option to pay their employees with cards instead of paper paychecks or electronic deposits. The pay cards are currently the most rapidly growing form of payment and a significant driver to this growth is the rise of the gig economy (more short-term positions and independent contractors). Pay card transactions allow independent freelancers to consolidate all their income and expenses in a single account. Not only does it help the employees, but also from an employer's standpoint, digital payments are cost effective, more secure, and immediate.Scope Of Growth For Pay CardsThe value of Form 1099 transactions is expected to be some...