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East Midlands
Monday 6 April 2020

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Rolls-Royce cuts workforce pay over pandemic

Rolls-Royce is to cut the salary of its global workforce by 10 per cent in 2020 in response to the Covid-19 pandemic. The executive team's pay will be reduced by 20 per cent for the rest of the year. It has also drawn fully on its £2.5bn revolving credit facility, increasing its current gross cash balance to £5.2bn.
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Insider Feature
Feature 1

Business Matters: How to support employee mental health when working remotely

As the impact of coronavirus takes hold, stress for the region’s workforce is at an all-time high, with concerns over job security and personal finances escalating, and those who can, working in isolation from home in line with the government’s social distancing instructions. With this and April’s UK Stress Awareness Month in mind, David McCormack, CEO of employee engagement innovators HIVE360, offers guidance on managing the mental health of employees who are working remotely.
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Deals

Next eligible to access Covid-19 funding boost

Retail giant Next has confirmed it is eligibe to access funding under the Covid Corporate Financing Facility.
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Cleaning company secures five-figure loan to cope with Covid-19

A second-generation cleaning company in Lincolnshire has secured a five-figure Coronavirus Business Interruption Loan (CBIL) from Lloyds Bank.
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Investment firm’s move for historic automotive company named Deal of the Month

A move which saw the Birmingham company behind an automotive business that can trace its roots back to 1877 acquired by an investment firm has been named Insider's Deal of the Month for March.
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Business

Revenue nears £100m at healthcare logistics firm

Revenue jumped towards £100m at a Derbyshire-based healthcare logistics company, which is part of Walgreens Boots Alliance, the owner of historic pharmacy giant Boots, during its latest financial year.
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Retailers hit by coronavirus shutdown

Department store chain Debenhams is reportedly on the verge of entering administration with the ongoing coronavirus crisis also hitting other retailers.
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Turnover rises at insurance firm

Turnover rose at a Leicester-headquartered insurance firm during its latest financial year, new documents have revealed.
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Shoe Zone furloughs majority of workforce

Shoe Zone has placed the majority of its workforce on furlough and ceased all capital expenditure in the face of the Covid-19 crisis.
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Yü Group’s revenue surges past £100m

Revenue surged past £100m at Nottingham-headquartered listed utilities supplier Yü Group during its latest financial year, new figures have confirmed.
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Property

Turnover rises to £170m at construction firm

Turnover rose to more than £170m at a construction firm which has completed projects for the likes of Siemens, Wagamama and Premier Inn, during its latest financial year.
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Four-storey office building gets green light

The go-ahead has been granted to create a four-storey office building in Leicester city centre.
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Plans in to revitalise shopping centre

Plans have been submitted to revitalise a Leicestershire shopping centre by its new owner.
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Manufacturing

Government reveals new £20m fund for R&D businesses

The government has unveiled a new £20m fund for R&D businesses designed to help build UK resilience following the coronavirus outbreak.
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Other News

ITV outlines latest coronavirus measures

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Member Exclusive News

Leicestershire CCC reveal four-year deal

Leicestershire County Cricket Club have announced a partnership with Vita Sports for the next four years.
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