THE HUB RETAIL RECRUITMENT’S MONTHLY NEWSROUND
- Date: 27 July 2016
- Posted By: admin
How to choose the top stories for July 2016? So much has happened. And so much more to come. Our stories this week are: Droning on; Wiping the shop floor with Philip Green; Consumer confidence holds firm; Sainsbury’s wrap it up; Overhaul fat cat pay; and Uber’s test case.
But we must start by saying how much our thoughts and sympathies go to people living in France and Germany, and to all those who have been directly affected by the awful events over the last few days and weeks. It puts us in mind of the atrocities faced by the UK year after year during the ‘troubles’ of the IRA terrorist campaign. So we know how a sense of trepidation can settle on a nation, and that the cliche ‘life must go on’ really is the only way to cope.
The other big story in July was the appointment of a new Prime Minister. Theresa May seems to have made a good start by going directly to talk to key figures in Scotland, Northern Ireland, and the EU. We very much hope the calm and firm demeanour she seems to have will settle the nation and a post-EU exit will reap the best benefits possible. We really liked this lighter article about the POB. Which is what you might ask? It’s the political bob! Apparently, people like Hilary Clinton, Theresa May, and Angela Merkel have a variation of this classic cut. The hair styling bills are eye watering!
https://www.theguardian.com/fashion/2016/jul/26/pob-power-haircut-women-theresa-may-political-bob
Droning on: Did you think ‘that’s ridiculous – it can’t work’. We did! And then considered all the advancements over the last century or so – such as the fear with which people viewed electricity, or the telephone. We can laugh about it, but it was very real when these things were new. So, although Amazon’s trialling of drones – which commentators are saying is an opportunity for the UK to make significant money and hence is why the Government has relaxed the regulations around the use of drones – feels very Sci-Fi, who’s to say it won’t ‘take off’ – yes, pun intended! It’s difficult to imagine answering the door to a drone, rather than the UPS courier, but let’s keep an open mind!
http://www.bbc.co.uk/news/business-36887325
Wiping the shop floor with Sir Philip Green: Well, the Parliamentary Select Committee’s report on the demise of BHS certainly tarred and feathered Sir Philip. He of course, whilst relaxing on his new yacht, has come out fighting – well they do say the best form of defence is attack – demanding an immediate apology from the Committee chairman. This article widens the issue into how many more businesses are being stripped of assets, rather than the longer term investment that’s needed. And how long respected institutions such as PriceWatershouseCoopers deemed BHS as a viable concern only a year before BHS was sold for £1. A lot of people should hang their heads in shame over this debacle – and the demise of a business that gave employment to some 11,000 people.
http://www.huffingtonpost.co.uk/jon-trickett-mp/bhs-sir-philip-green_b_11195668.html
Consumer confidence holds firm: Despite all the pessimism and fallout from Brexit, consumer confidence is holding up, so says a report from Deloitte, who surveyed 3000 in the first few days following the referendum. But the research also shows that the shift from retail to leisure is continuing – so no room for complacency. Also according to the survey, is that confidence in job security really took a hit, particularly amongst the 18-24 years old. It’ll certainly be interesting to see what the next quarter figures show.
Sainsbury’s wrap it up: Well, almost. But a significant hurdle has been jumped, with the Competition & Markets Authority (CMA) saying it won’t stand in the way of Sainsbury’s purchase of Home Retail Group, which owns Argos and Habitat. The final obstacle is the Financial Conduct Authority, but experts think the FCA will also give its backing, and the purchase completed by the end of the 3rd quarter – so by the end of December. Although it’s still not in the bag, it looks it will be at the checkout by the end of the year.
http://www.ft.com/cms/s/0/9ab474b6-4fdf-11e6-88c5-db83e98a590a.html#axzz4Fbp4Rk00
Overhaul fat cat pay: So says a report that has the backing of some of the UK’s largest shareholders and investors. The Executive Remuneration Working Group is saying that executive pay needs to be totally overhauled, and stripped back to be simpler and more transparent, including ending the use of long-term incentive plans (LTIPs). This report comes in the wake of several controversial packages exposed over the last 12 months and the fruitless efforts of shareholders to try and stop the payouts. Conversely is the story of Rowan Gormley, CEO of Majestic Wines, who apparently is going to divide his £6m share award windfall with his staff – estimated to be worth £14,000 each. That seems extraordinarily generous – and a sharp cookie like Mr Gormley will know exactly what he’s doing.
Uber’s test case: For those living in London, Uber has been great – an app-based taxi service that tells you the closest cab to you, and how much your journey will cost. What’s not to love about it? Well, it’s had its fare (deliberate spelling) share of problems. First there was the court case as black cabs claimed the app was the same as a taximeter and therefore not allowed. Uber won that one. But now it’s back in court – this time in an Employment Tribunal. It’s the thorny issue of whether the cab drivers are employees or self employed. The case is being bought by a legal firm, Leigh Day, and is supported by the union GMB. We’ll keep you posted on how this one turns out.
Well, a lot for you to get your teeth into. Whatever will August bring? There will definitely be the Olympics – and hopes are high for the UK’s chances of at least equalling our outstanding performance at the London 2012 Games. Here’s wishing Team GB well. And Brazil of course as hosts. But can it really compare with August 2012? We believe, no, because for all us Brits that really was a time to be proud. Our Weekly Snippets will be back next week – 3rd August – so look out for it. In the meantime, have a good week.