THE DAILY BRIEFING
FIT PAY Controversial fitness firm The Gym Group is facing fresh criticism for failing to give workers a fair wage. It claimed personal trainers at its facilities are self-employed, meaning they have not been entitled to holiday pay and other rights.
It now offers part-time contracts with better rights. But Department for Work and Pensions chairman Frank Field said he is watching closely to ensure that Gym Group fulfils its ‘glib and slightly obscure’ promise to pay the National Living Wage in future.
LIMITED CONTROL Embattled German lender Deutsche Bank will give small shareholders only a limited say when its investment arm floats on the stock market.
Deutsche asset Management will be ‘partnership limited by shares’ rather than a normal listed firm – meaning external investors have less influence and the bank’s bosses can keep control.
CLEANING BOSS Once one of Britain’s biggest dry-cleaning companies, Johnson services Group has named Peter Egan, managing director of its apparelmaster workwear business, as its next chief executive.
The 45-year-old will replace Chris sander, 59, who steps down after more than three decades at the firm.
NEW STORE Fashion retailer Primark is set to open a 70,000 sq ft shop in the Westfield London shopping complex. The building in White City, which is undergoing a £600m expansion, will become Europe’s biggest shopping centre. STILL SHOPPING Landlord capital & Regional said families are still heading to its shopping centres despite the woes on the high street, with visitor numbers up 0.2pc in the past 21 weeks. The company said its shopping centres are 96.6pc full, up from 95.5pc at the end of June. LOAN BOOST Mobile phone-only lender starling Bank has been given permission to offer loans, insurance, mortgages and Isas by the Financial Conduct authority.
PROFITS RACING Challenger bank PcF Group has unveiled profits of £3.6m in the year to september 30 – the same as the previous year. PCF increased its dividend from 0.1p to 0.19p per share. GENE STUDIES Drug maker Glaxosmithkline is to spend an extra £40m on research in the UK to further explore links between genes and diseases, the company announced yesterday.