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Low-skilled workers to be denied visas under immigration shake-up

Low-skilled workers to be denied visas under immigration shake-up

Business
The UK's post-Brexit immigration system will deny visas to low-skilled workers, the government has said.A new points-based system - to be introduced from January 2021 - is intended to end dependence on "cheap labour from Europe". Ministers claim they will also make it easier for higher-skilled workers to get UK visas. Image: Critics say the plans could spell 'absolute disaster' for the care sector But critics say the proposals could be an "absolute disaster" for the social care sector, and there are "serious concerns" about the impact on farming.The Home Office estimates 70% of EU workers currently in the UK would not meet the requirements if applying under the new system. ...
Morrisons supermarket axes 3,000 managers in huge shake-up

Morrisons supermarket axes 3,000 managers in huge shake-up

Business
Morrisons is axing 3,000 management roles as part of a huge restructuring to create more shop floor jobs.The firm says it is also creating 7,000 new hourly-paid roles at its 500 stores, meaning a net 4,000 new posts.The new jobs will be in customer-facing roles, such as more butchers, bakers, fishmongers, the supermarket said.Morrisons said the new roles will be a mixture of part and full time posts, but declined to reveal how the numbers will be split.Managers will be able to move to the new jobs, with the firm saying there will be roles "for everybody who wants to continue to work at Morrisons".David Lepley, Morrisons group retail director, said: "Whilst there will be a short period of uncertainty for some managers affected by these proposals we will be...
Asos fashions board shake-up after profit alerts

Asos fashions board shake-up after profit alerts

Business
Asos, the online fashion retailer which has been buffeted by a series of profit warnings, will on Wednesday unveil a boardroom shake-up as part of an attempt to rebuild relations with investors.Sky News has learnt that Asos, which has seen its value more than halve during the past year, has recruited several new non-executive directors, including Luke Jensen, the boss of online grocery retailer Ocado's technology solutions arm. The new board members have been drafted in by Adam Crozier, who took over as Asos chairman in April. Image: Adam Crozier the Asos chairman has drafted in new board members Since Mr Crozier's arrival, the former City darling has issued its second profit alert in seven months, blaming a troublesome IT upgrade in ...
Radical shake-up of overdraft charges will restrict fees

Radical shake-up of overdraft charges will restrict fees

Business
By Sharon Marris, business reporter Fixed fees for overdrafts will be banned under reforms announced by the financial regulator.The Financial Conduct Authority (FCA) has described its new rules as the "biggest overhaul of the market in a generation". Fixed fees for borrowing through an overdraft will be banned and banks and building societies will have to price overdrafts by a simple annual interest rate.Banks and building societies will no longer be able to charge more for unarranged overdrafts than they do for arranged overdrafts.They will also have to do more to identify customers who are showing signs of financial strain and be prepared to help reduce repeated overdraft use. Advertisement ...
Bank overdraft fees targeted in major shake-up

Bank overdraft fees targeted in major shake-up

Business
Bank overdraft fees are to undergo a major shake-up, which the UK financial regulator is calling the biggest overhaul for a generation.Banks and building societies will no longer be allowed to charge fixed daily or monthly fees for overdrafts.In addition, there will no longer be higher fees for unplanned overdrafts than for arranged ones.The Financial Conduct Authority (FCA) said the new rules would start by April 2020.Under the new measures, which were first proposed in December, banks will also be required to charge a simple annual interest rate on all overdrafts, and overdraft advertisements will need to come with that rate clearly displayed, to help consumers compare various products. In 2017, banks made more than £2.4bn from overdrafts - with 30% alo...