Uber and CitySprint among gig economy firms to face parliament

Frank Field MP launches inquiry examining law and enforcement as firms still ‘evade justice’ on worker rightsUber and courier firms including CitySprint are to be called to give evidence to a parliamentary inquiry into gig economy companies which have …

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Carillion bosses displayed ‘greed on stilts’, MPs claim

MPs’ committee reveals new evidence showing how bosses sought to boost and protect bonuses despite dire financesCarillion bosses have been accused of demonstrating “greed on stilts” by worrying more about “fat pay and bonuses” for bosses than looking o…

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‘Go tackle Carillion or someone else’ – Philip Green tells MP

Retail tycoon calls for truce over BHS collapse in letter to Commons committee chair saying everyone is bored

Sir Philip Green, the Topshop owner, has written to the MP Frank Field calling for a “truce” in their long-running public spat over the collapse of the BHS retail chain.

Writing in a letter to the chair of the House of Commons work and pensions select committee at the end of last month, leaked to the Mail on Sunday, the retail tycoon told Field it was time to “avoid another public spat, that you so enjoy”.

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What frightens the bosses of GKN and Carillion? Committees

MPs will call in directors of both companies this week for a sharp and increasingly effective brand of public grilling

This week will provide further evidence of MPs’ willingness to involve themselves in how big companies are run. On Tuesday the business committee will scrutinise Melrose’s proposed hostile takeover of GKN by questioning both companies’ bosses. Melrose specialises in buying and overhauling industrial companies but Jeremy Corbyn, the Labour leader, has labelled it an “asset stripper” – something Melrose denies.

On Wednesday, members of the business and work and pensions committees will interview former investors in Carillion, in the latest instalment of their joint inquiry into the outsourcing company’s collapse.

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Revealed: Carillion lenders alerted to concerns months before collapse

FTI Consulting accused government contractor of using aggressive accounting to mask underperformance

Directors of the collapsed government contractor Carillion masked its financial ill-health with aggressive accounting, according to a secret report written last year for banks that were considering lending the company more money to survive.

MPs published the report on Sunday as part of a continuing inquiry into the collapse of a company that provided a host of vital public services, including catering in schools, prison maintenance and construction of new NHS hospitals. Frank Field, chair of the Commons work and pensions committee, said the document was evidence of “gross failings of corporate governance and accounting” at Carillion.

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Carillion chair planned ‘upbeat’ message before £845m writedown

Select committee says Philip Green had only a ‘tenuous grasp’ of Carillion’s crisis

Carillion’s former chairman Philip Green had only a “tenuous grasp” on the crisis in the construction firm’s finances, and was working towards an “upbeat announcement” to the City just five days before unveiling a £845m writedown, board minutes of the collapsed group reveal.

The board also rejected advice from its brokers that the company would be unable to raise emergency funds, describing their pessimistic view as “not credible” and then hiring alternative advisers.

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