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Steinhoff facing credit squeeze

Retail group Steinhoff has said its lenders are starting to withdraw or suspend credit following allegations of accounting irregularities.In a presentation to investors in London, the retailer added it was unable to say when the extent of alleged irregularities would be known.Steinhoff said forecasts for each of its companies …

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Toys R Us future in UK plunged into doubt over pension scheme

Toys R Us’s future in the UK has been plunged into doubt after the Pension Protection Fund (PPF) said it would vote against the company’s rescue plan.The retailer was told to put £9m into its struggling pension fund by the PPF in order for it to support the toy …

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Steel pensions: Decision deadline 'cannot be extended'

The deadline for British Steel pension members to decide on their future arrangements cannot be extended, the head of the scheme has said.The 122,000 members have until Friday to decide whether to stay in the current scheme. British Steel Pension Scheme (BSPS) trustee chairman Allan Johnston said delays could …

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Uber a danger to public safety, warns union

Uber drivers work “excessive hours”, making the taxi app service a danger to public safety, a union has warned.The GMB Union told Westminster Magistrates’ Court it had evidence that Uber “encourages and incentivises” its drivers to work long hours.The hearing will determine whether the union can take part in …

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May rebukes EU over 'bespoke' Brexit deal

Downing Street has hit back at the European Union as the new battle lines for a Brexit trade deal were drawn. Theresa May’s spokesman expressed confidence that UK financial services would “get a good overall deal” despite Brussels’ chief negotiator Michel Barnier ruling out a special offer for the …

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