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Centrica set to announce heavy job losses

A general view of the Centrica Head office in Windsor, Berks. Credit: PA

Gas giant Centrica is set to announce heavy job losses when it unveils its latest financial results today.

There is speculation that the British Gas owner will cut up to 2,000 posts, with management positions likely to be included.

Asset sales and cost reductions are also likely to be announced by the company, which employs 37,500 workers globally and has 27.9 million customer accounts.

The results will be announced by chief executive Iain Conn, who took up the post in January.

Barclays report 25% rise in profits after CEO sacked

Credit: PA

Barclays has announced a 25% rise in first half year profits just three weeks after chief executive Antony Jenkins was fired over lacklustre revenue growth.

It comes despite the bank having to pay out more than £1 billion in compensation to customers over scandals such as PPI mis-selling.

However, the bank has said it will streamline the business to ramp up growth and squeeze costs but has yet to say how they will do that.

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'Invest in the north of England' PM tells south-east Asia

Prime Minister David Cameron also visited the Singapore Botanical Gardens. Credit: PA

The Prime Minister has urged south-east Asian investors to pump money into the cities of the "Northern Powerhouse".

As part of his four day trade mission to the region, David Cameron told investors in Singapore that he wanted them to look at the UK "in a new way" and consider cities like Leeds and Manchester for their plans rather than just London.

I really would encourage you to look at Britain in a new way...

We want to re-balance our country and we want Singaporean and other south-east Asian investors to help us do it. That is what the Northern Powerhouse is all about.

From the North Sea to the Singapore Strait, let's get more trade flowing.

– David Cameron

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'Late payment' help for small businesses

Small businesses are set to get help with collecting billions of pounds worth of late payments under new government plans.

A new Small Business Commissioner will be appointed to provide advice, and help settle payment disputes, as it is currently estimated small firms are collectively owed more than £26bn in late payments.

Small Business Minister Anna Soubry Credit: Dominic Lipinski/PA Wire

Small Business Minister Anna Soubry said the fact small businesses currently spend millions chasing down money they have already earned was "simply unacceptable".

She said: "The Small Business Commissioner will tackle the imbalance of bargaining power between small suppliers and large customers, and encourage them to get round the table and sort out disputes at a fraction of the cost of going to court.

"It will also provide advice, investigate complaints and see where further action is needed to clamp down on unfair practices."

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