Connect with us

Business

Just Eat will stop using gig economy workers to deliver food, firm’s boss says

Published

on

just eat will stop using gig economy workers to deliver food firms boss says
Jitse Groen (above), CEO of Just Eat Takeaway, said he does not want to have gig economy workers - operating on flexible hours with little workplace protection - delivering for his company in Europe any more

Jitse Groen (above), CEO of Just Eat Takeaway, said he does not want to have gig economy workers - operating on flexible hours with little workplace protection - delivering for his company in Europe any more

Jitse Groen (above), CEO of Just Eat Takeaway, said he does not want to have gig economy workers – operating on flexible hours with little workplace protection – delivering for his company in Europe any more

The boss of Just Eat Takeaway said he does not want to have gig economy workers – operating on flexible hours with little workplace protection – delivering for his company in Europe any more.

Jitse Groen, chief executive of the food delivery giant, revealed he would prefer to give his staff more benefits in light of the difficulties they have faced since the coronavirus pandemic. 

His Dutch company, Just Eat Takeaway.com, processed around 257million orders in the first six months of the year as takeaway companies supplied food to people in lockdown.   

Gig economy workers are those in temporary jobs where they do not enjoy rights such as sick pay and minimum notice periods – but also face fewer obligations, such as being able to turn down shifts or quit to focus on study.

Mr Groen said he did not like the idea of his Just Eat workforce – which the company relies on to deliver meals from restaurants  – to have to endure harder working conditions.

‘We’re a large multinational company with quite a lot of money and we want to insure our people. We want to be certain they do have benefits, that we do pay taxes on those workers,’ he told the BBC.

Mr Groen, boss of the Dutch food delivery giant, revealed he would prefer to give his staff more benefits in light of the difficulties they have faced since the coronavirus pandemic. Gig economy workers do not enjoy rights such as sick pay and minimum notice periods - but also face fewer obligations, such as being able to turn down shifts. (File photo)

Mr Groen, boss of the Dutch food delivery giant, revealed he would prefer to give his staff more benefits in light of the difficulties they have faced since the coronavirus pandemic. Gig economy workers do not enjoy rights such as sick pay and minimum notice periods - but also face fewer obligations, such as being able to turn down shifts. (File photo)

Mr Groen, boss of the Dutch food delivery giant, revealed he would prefer to give his staff more benefits in light of the difficulties they have faced since the coronavirus pandemic. Gig economy workers do not enjoy rights such as sick pay and minimum notice periods – but also face fewer obligations, such as being able to turn down shifts. (File photo)

The rise in the number of people ordering takeaways since the Covid lockdown has seen Just Eat’s revenue rocket – and it has added a record number of new restaurants and customers to its system. 

Active customer numbers have increased from 44million to 54million compared with the same time last year, the company said – and Mr Groen added that customers are also ordering more.

The firm, which was founded in 2000, said its like-for-like pre-tax loss was £109million, on revenue that had increased by 44 per cent to £927million. 

Just Eat Takeaway is in the process of buying US peer Grubhub for £5.6billion – which could lead to Mr Groen hiring a lot more staff. 

The deal is likely to complete in the first half of next year but Mr Groen has not commented further on it.

Millions of Britons have been making the most of the Government's half-price meals out scheme in the past week. However, Mr Groen said yesterday that the scheme has not damaged his business, saying he is seeing little effect. (Above, Chancellor Rishi Sunak promoting the scheme)

Millions of Britons have been making the most of the Government's half-price meals out scheme in the past week. However, Mr Groen said yesterday that the scheme has not damaged his business, saying he is seeing little effect. (Above, Chancellor Rishi Sunak promoting the scheme)

Millions of Britons have been making the most of the Government’s half-price meals out scheme in the past week. However, Mr Groen said yesterday that the scheme has not damaged his business, saying he is seeing little effect. (Above, Chancellor Rishi Sunak promoting the scheme)

The deal is set to make the company one of the biggest delivery firms in the world outside China. 

Meanwhile, millions of Britons have been making the most of the Government’s half-price meals out scheme in the past week. 

The Eat Out To Help OUt scheme, launched to boost the struggling hospitality sector, entitles diners to 50 per cent off on a meal out on Mondays, Tuesdays and Wednesdays this month. The discount is capped at £10 per head.

However, Mr Groen said yesterday that the scheme has not damaged his business, saying he is seeing little effect.  

‘Food delivery is rarely in direct competition with restaurant visits, and that doesn’t change under these circumstances,’ he said.

He added: ‘Restaurants have limited capacity because they can only seat a certain number of people.

‘We don’t believe that there will be a material impact on our figures because of these relief measures from the UK Government.’ 

Powered by: Daily Mail

Continue Reading
Advertisement
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Business

We take the latest Porsche Panamera for a spin at the MoD’s tank testing grounds

Published

on

By

we take the latest porsche panamera for a spin at the mods tank testing grounds

The last time I drove a Porsche Panamera I had £3.3million in gold bullion stashed in the boot. 

I was taking part in an audacious run across London from a secret location to a vault in Hatton Gardens carrying a total of £10million in January 2018.

Sadly no gold was involved when test-driving two new models in latest Porsche Panamera line up – which has just been refreshed as part of a second-generation facelift.

But this time I had something far heavier than gold to contend with – tanks. 

Porsche's new family tank: The Panamera has had a mid-life facelift with new engines and a tweaked design. We've taken to the wheel at the Ministry of Defence's tank testing grounds

Porsche’s new family tank: The Panamera has had a mid-life facelift with new engines and a tweaked design. We’ve taken to the wheel at the Ministry of Defence’s tank testing grounds

Sinking into the comfortable and supportive sports seats, my test driving route in the luxury German sports tourer took me around the Ministry of Defence’s tank proving grounds and military firing range on Salisbury Plain, a stone’s throw from ancient Stone Henge in Wiltshire.

There is a tenuous but important link to the Panamera here, though. 

Porsche’s founder Ferdinand Porsche, having risen to fame, or infamy, designing the bug-like Volkswagen – Hitler’s ‘People’s Car’ – in the late 1930s then spent the war years designing tanks and heavy armour, including a vast machine ironically called ‘Maus’ (or ‘Mouse’) for the Third Reich, for which he subsequently served a bit of time behind bars after Germany’s eventual defeat.

The latest heavyweight from Porsche is a facelifited version of the second-gen Panamera that’s been on sale since 2018.

The brand’s first executive four-door car hit the market in 2009, and with more than 10,000 sold in the UK alone has been a hit among fans of the 911 who need some extra space for the family. 

Gunning for the executive car market: We've driven two variants of the new Panamera, including the e-Hybrid model

Gunning for the executive car market: We’ve driven two variants of the new Panamera, including the e-Hybrid model

Daily Mail motoring editor Ray Massey poses with one of the test cars before his first drive in the UK

Daily Mail motoring editor Ray Massey poses with one of the test cars before his first drive in the UK

Ray said the Panamera feels exceptionally big on the road, but said it was perhaps also down to the fact the launch cars were left-hand-drive models on German plates, driven in the UK

Ray said the Panamera feels exceptionally big on the road, but said it was perhaps also down to the fact the launch cars were left-hand-drive models on German plates, driven in the UK

Prices for the updated Panamera range from £69,860 for the base level Panamera (the only one with rear-wheel drive, the rest have all-wheel drive) up to £137,760 for the top of the range Panamera Turbo S Sport Turismo.

The Panamera is effectively a svelte and coupe like estate car. It also feels a very wide car. At the wheel of a left-hand-drive car on German plates on UK roads, it perhaps added to that sense of scale. 

About a third of UK Panamera buyers choose the ‘Sport Turismo’ estate body style which adds just over £2,000 to the price.

I drove two new models – the brutally efficient and rather beastly Turbo S (from £135,610) and the greener, leaner and – to my senses – more  civilised 4S E-Hybrid (from £101,690). Both were fitted with the enhancing Sport Chrono package.

The range-topping Turbo S’s meaty 4.0-litre V8 twin turbo engine develops a mighty 630 horsepower – an increase of 80 horsepower over the outgoing model – linked to a deft 8-speed double-clutch automatic gear-box.

The latest heavyweight from Porsche is a facelifited version of the second-gen Panamera that's been on sale since 2018

The latest heavyweight from Porsche is a facelifited version of the second-gen Panamera that’s been on sale since 2018

The brand's first executive four-door car hit the market in 2009, and with more than 10,000 sold in the UK alone has been a hit among fans of the 911 who need some extra space for the family

The brand’s first executive four-door car hit the market in 2009, and with more than 10,000 sold in the UK alone has been a hit among fans of the 911 who need some extra space for the family

The range-topping Turbo S’s meaty 4.0-litre V8 twin turbo engine develops a mighty 630 horsepower – an increase of 80 horsepower over the outgoing model - linked to a deft 8-speed double-clutch automatic gear-box

The range-topping Turbo S’s meaty 4.0-litre V8 twin turbo engine develops a mighty 630 horsepower – an increase of 80 horsepower over the outgoing model – linked to a deft 8-speed double-clutch automatic gear-box

That enables it to accelerate from rest to 62mph in just 3.1 seconds in ‘Sport Plus’ mode – and don’t you just feel it. It’s a beast. It exudes lithe and powerful performance yet doesn’t overwhelm. But the power is palpable.

Top speed, if you dare, is 196mph (shall we call it 200mph with a fair wind) where permitted, such as de-restricted German Autobahns.

Furthermore, it can sprint from 0 to 100mph in just 7.2 seconds and to 124mph in 11.2 seconds. That should be enough to outrun a British Challenger 2 tank, though I’m not sure I’d want to put its laser-lock gun-turret to the test.

The engine has been improved and upgraded with new fuel injectors, tweaked turbochargers and an modified exhaust and silencer system.

Visually, the front apron has been given large air inlet openings, while those trailing in its wake will get the benefit of seeing a new rear light strip across the back of the vehicle. To improve stopping power the brakes are 10mm greater in diameter. 

UK sales of the Panamera Turbo and Turbo S will represent around 15 per cent of the total.

The Panamera is aimed at Porsche fans who have families and their Boxster, Cayman or 911 will no longer suffice

The Panamera is aimed at Porsche fans who have families and their Boxster, Cayman or 911 will no longer suffice 

Boot space with the seats up is 467 litres
With the rear backrests flat the carrying capacity expands to 1,306 litres
Slide me

Boot space with the seats up is 467 litres, though with the rear backrests flat expands to 1,306 litres. The e-Hybrid has slightly less space due to the battery and electric motor arrangement

Switching to the petrol-electric 4S E-hybrid I instantly experienced the difference. It is fast and agile, but felt more mannered, fettled and sophisticated.

The plug-in hybrid is powered by a 2.9-litre V6 twin-turbo-charged 440 horsepower petrol engine with a linked to 136 horsepower electric motor integrated into the car’s eight-speed dual clutch automatic transmission. 

That gives a useable combined power is 560 horsepower, allowing for some leakage as it’s not a straight ‘a plus b’ performance calculation.

This allows it to sprint from rest to 62mph in 3.7 seconds up to a top speed of 185mph.

Acceleration from 0 to 100mph takes 8.6 seconds, and up to 124mph in 13.6 seconds.

The plug-in hybrid is powered by a 2.9-litre V6 twin-turbo-charged 440 horsepower petrol engine with a linked to 136 horsepower electric motor integrated into the car’s eight-speed dual clutch automatic transmission

The plug-in hybrid is powered by a 2.9-litre V6 twin-turbo-charged 440 horsepower petrol engine with a linked to 136 horsepower electric motor integrated into the car’s eight-speed dual clutch automatic transmission

It has a total of 560 horsepower, allowing for some leakage as it's not a straight 'a plus b' performance calculation

It has a total of 560 horsepower, allowing for some leakage as it’s not a straight ‘a plus b’ performance calculation

Battery capacity has been increased and there are six driving modes: E-Power, Hybrid Auro, E-Hold, E-Charge, Sport and Sport Plus.

It has an all-electric range of up to 34 miles (up 30 per cent) and an electric-only top speed of up to 87mph.

Official fuel economy figures for the hybrid range between 94.2mpg to 128.4mpg, with CO2 emissions of between 51g/km to 67g/km.

The new high voltage battery takes 2.6 hours to charge on a 7.2kW charger, and 4.8 hours on a 3.6 kW charger.

The remaining Panamera 4 costs from £72,890 and the GTS from £107,180.

The hybrid can sprint from rest to 62mph in 3.7 seconds up to a top speed of 185mph. Acceleration from 0 to 100mph takes 8.6 seconds, and up to 124mph in 13.6 seconds

The hybrid can sprint from rest to 62mph in 3.7 seconds up to a top speed of 185mph. Acceleration from 0 to 100mph takes 8.6 seconds, and up to 124mph in 13.6 seconds

The new high voltage battery takes 2.6 hours to charge on a 7.2kW charger, and 4.8 hours on a 3.6 kW charger

The new high voltage battery takes 2.6 hours to charge on a 7.2kW charger, and 4.8 hours on a 3.6 kW charger

Though Porsche has its headquarters in Stuttgart, in the South West of Germany, the Panamera is built at its Leipzig plant in former Eastern Germany.

Given the choice I’d personally go for the hybrid as I felt it easier to live with day to day while having fun on high days and holidays. But that’s me.

However, if you fancy the full-fat, no holds barred carnivorous flavour, the purists will plump for the beefier Turbo S.

Porsche Panamera: Will it fit in my garage? 

33522686 0 image a 98 1600859557132

Price range: £69,860 to £137, 760

Length: 5,049mm

Width: 1,937mm

Width (inc mirrors): 2,165mm

Height: 1,423mm

Wheelbase: 2,950mm

Doors: 4

Porsche Panamera Turbo S

Price: £135,610

Engine: 4.0 litre V8 twin-turbo.

Power: 630 Horse power (PS)

Transmission: eight-speed dual clutch automatic

0-62mph: 3.1 seconds

0-100mph: 7.2 seconds

0-124mph: 11.2 seconds

Top speed: 196mph

Fuel economy: 21.2 to 22.1mpg

CO2 emissions: 289 to 302g/km

Unladen weight: 2,155kg

Fuel tank: 90 litres

Boot space: 467 litres

Boot space(with rear seats folded): 1,306 litres

Porsche Panamera 4S E-Hybrid

Price: £101,690 

Engine: 2.9 litre V6 twin-turbo petrol engine & electric motor

Total power: 560 horse-power (PS)

Transmission: eight-speed dual clutch automatic

0-62mph: 3.7 seconds

0-100mph: 8.6 seconds

0-124mph: 13.6 seconds.

Top speed: 185mph

Electric top speed: 87mph

All-electric range: Up to 34 miles (up 30 per cent)

Battery charging time: 2.6 hours to 4.8 hours

Fuel economy: 94.2 to 128.4mpg

CO2 emissions: 51g/km to 67g/km

Unladen weight: 2,300kg

Fuel tank: 80 litres

Boot space: 403 litres

Boot space (with rear seats folded): 1,242 litres

SAVE MONEY ON MOTORING

Powered by: Daily Mail

Continue Reading

Business

Aside from Covid-19, what lies ahead for British pharma firms?

Published

on

By

aside from covid 19 what lies ahead for british pharma firms

This pandemic has been much worse for the elderly, who have borne the overwhelming brunt of the deaths. 

But one sector that leans heavily on pensioner pounds is doing noticeably well this year – pharmaceuticals, and it not just because of Covid.

Share prices of many British pharmaceutical firms have grown strongly despite a stock market-wide March dip as worldwide worries over the economy were superseded by public health threats.

Since 1 January , the share price of the country’s largest pharma business AstraZeneca have risen 14 per cent in value, while Vectura’s have jumped by around double that amount, and FTSE 100 firm Hikma has climbed by a third.

AstraZeneca and GlaxoSmithKline are both working to manufacture vaccines to treat Covid-19

AstraZeneca and GlaxoSmithKline are both working to manufacture vaccines to treat Covid-19

GlaxoSmithKline (GSK) has been an outlier among British pharma firms with a 14 per cent decline in its share price since 1 January, although this is still some way above its March low.

Amidst smaller firms, some have had an even better run in 2020. Both London-listed Amryt Pharma and Guildford-based Ergomed have seen shares rise 74 per cent.

Each of them invests copiously in orphan drugs research, which is becoming a highly lucrative market. 

An orphan drug is defined as one intended for the treatment, prevention or diagnosis of a rare disease or condition.

According to one 2016 analysis of 86 publicly-listed pharmaceutical companies by two academics from Liverpool and Bangor universities, orphan drug producers had a 9.6 per cent greater return on investment than non-orphan drug makers.

Ergomed executive chairman: 'Our PrimeVigilance services have been essential in recent times, partly due to an increase in adverse event reporting as a result of the pandemic'

Ergomed executive chairman: ‘Our PrimeVigilance services have been essential in recent times, partly due to an increase in adverse event reporting as a result of the pandemic’

Amryt’s chief executive and founder Joe Wiley says his business’s acquisition of two marketed rare disease products – Lojuxta and Myalept – last year ‘transformed our company overnight.’

‘We quickly integrated these products into our existing business, and since the start of the year we have been consistently growing revenues quarter-on-quarter, and we moved into EBITDA profitability ahead of schedule and the market’s expectations.’

He also believes Amryt has ‘broken the mould’ of tradition biotech firms by gaining strong revenues and profits, a sentiment shared by Ergomed’s boss Dr Miroslav Reljanović, whose firm reported a 15 per cent rise in first-half revenues back in July.

Both companies state that Covid-19 has given them a further boost. Wiley says his company moved quickly to a work-from-home model and had a robust supply chain and inventory when the pandemic hit.

For Dr Reljanovic, it is the ‘essential’ nature of Ergomed’s research and drug safety services that has made it a crucial business during this unusual time.

‘We act as an essential services provider to larger pharmaceutical firms, as evidenced by our ability to orchestrate complex clinical trials (e.g. for Covid-19 patients) with a rapid turnaround time.

‘Our PrimeVigilance services have been essential in recent times, partly due to an increase in adverse event reporting as a result of the pandemic, and partly through the establishment of safety services to support Covid-related clinical trials.’

Another company, 4D Pharma, is running a trial giving an oral drug to hospitalised coronavirus patients, although whether this has boosted its share price is disputable.

Ergomed's executive chairman t is the 'essential' nature of Ergomed's research and drug safety services that has made it a crucial business during this unusual time

Ergomed’s executive chairman t is the ‘essential’ nature of Ergomed’s research and drug safety services that has made it a crucial business during this unusual time

AstraZeneca’s much more eminent Covid vaccine trial on the other hand, has given its share price an enormous (metaphorical) shot in the arm.

Even the announcement of a pause on clinical trials last week did little to scare investors. The FTSE 100 firm’s share price been on a long ascent in the last decade, thanks in large part to better success rates in getting new medicines to market.

By contrast, GSK had been tarnished with bribery scandals and flat turnover. Even if the company manufactures Covid treatments, it expects to not profit off them. AstraZeneca has also declared it will supply any potential Covid vaccine at no profit.

If the two firms were cities, AstraZeneca would be London, hogging most of the money and glory, while GSK would be Birmingham or Manchester – still prominent and world-famous, but dwarfed by their much bigger, richer and older sister.

AstraZeneca has declared it will supply any potential Covid vaccine at no profit

AstraZeneca has declared it will supply any potential Covid vaccine at no profit

So, what about the rest of the British pharma sector? According to consulting firm GlobalData’s Pharma Intelligence Center Drugs Database, there are 235 known private independent pipeline-only Bio/Pharma companies headquartered in Britain.

Peter Shapiro, the senior director of Drugs and Business Fundamentals at GlobalData, says: ‘It is hard to generalise about these smaller Pharma companies as they are quite diverse, spanning every major molecule type and therapeutic area.’

GSK and AstraZeneca though ‘both have blockbuster drugs and diversified, innovative therapeutic pipelines. Their pipelines include Covid-19 vaccines or collaborations, and they have made significant investments in advanced therapy medicinal products, especially in the growing field of Immuno-Oncology (IO).’

But whatever the size of each pharma business, one long-term trend should give the wider industry a considerable boost in confidence – the world is getting older.

GSK's share price has been hurt in the last decade as bribery scandals and flat turnover beset the Brentford-based company

GSK’s share price has been hurt in the last decade as bribery scandals and flat turnover beset the Brentford-based company

This year 2020 is the first time in human history that the number of over-65s outnumbers those under five. The Office for National Statistics projects that one in four Britons in 2050 will be 65 or older.

China and India, the world’s two largest countries by population, have seen women’s fertility rates plummet as they have grown richer, while the Asian tiger economies have already had below-replacement birth rates for decades.

As journalist Camilla Cavendish writes in her book Extra Time: 10 Lessons for an Ageing World: ‘The twenty-first century will be defined by people living longer, in societies which are growing older much faster than we have fully realised.’

Health spending is also disproportionately concentrated on the elderly. The Institute for Fiscal Studies (IFS) estimates that 65-year olds cost the NHS two and a half times more than a 30-year old, but 85-year olds cost five times as much.

The year 2020 will be the first time in human history that the number of over-65s outnumbers those under five. About one in four Britons in 2050 will be 65 or older as well

The year 2020 will be the first time in human history that the number of over-65s outnumbers those under five. About one in four Britons in 2050 will be 65 or older as well

And just to throw in an extra secret sauce, the world is getting fatter, putting people at greater risk of diabetes, heart disease, depression, and other medical problems.

Put it all together, and pharmaceutical firms are set for a golden century. Surely nothing could throw a spanner in the works? Well, the industry has one major worry on its immediate horizon – the threat of a hard Brexit.

A parliamentary report on the sector published two years ago warned that ‘any small gains [from Brexit] would be hugely outweighed by additional costs or the loss of access to existing successful markets.’

It added that the ‘potential for new, untapped markets simply does not exist in an already global sector in which the UK is highly engaged.’

The report called on the UK to have a close relationship with the EU, with medicines able to travel across borders with as little hassle as possible, something that could be severely affected if the two parties end up trading on WTO terms.

A parliamentary report on the pharma industry said 'any small gains [from Brexit] would be hugely outweighed by additional costs or the loss of access to existing successful markets'

A parliamentary report on the pharma industry said ‘any small gains [from Brexit] would be hugely outweighed by additional costs or the loss of access to existing successful markets’

CMC Market analyst David Madden believes such a scenario will hurt pharma stocks across the board, though he thinks GSK and AstraZeneca may not be as badly impacted.

He says because their overseas earning are proportionally higher, a fall in the pound’s value will not hurt them as much and that ‘big pharma players like GSK are more likely to produce a Covid-19 vaccine so that will be on traders’ minds too.’

GlobalData’s Peter Shapiro says the major pharma firms have also been extensively preparing for a hard Brexit. However, the potential regulatory dealignment between Britain and the European Medicines Agency (EMA) remains a significant worry in the industry.  

Powered by: Daily Mail

Continue Reading

Business

AA share skid off track as suitor walks away

Published

on

By

aa share skid off track as suitor walks away

Platinum Equity, one of the potential buyers for breakdown business AA, has withdrawn from the race three weeks after a deadline for bids was extended.

The private equity firm said that it had walked away from discussions with AA’s board ‘by mutual agreement.’

The news was unwelcome among AA shareholders with many hitting the sell button, sending the stock down 17 per cent to 28p.

Platinum Equity has withdrawn from the race to buy the AA by mutual agreement

 Platinum Equity has withdrawn from the race to buy the AA by mutual agreement

It follows weeks of speculation over the future of the business after it announced talks with three potential bidders in early August.

However, finding a buyer from the trio has so far proved elusive, and earlier this month a deadline set by the Takeover Panel passed without any firm bids arriving.

This forced AA to ask for an extension, with the new deadline of 29 September.

In a statement on Tuesday, Platinum said: ‘Platinum Equity announces today that discussions with the board of AA have been terminated by mutual agreement and it does not intend to make an offer for AA.’

But the US investor reserved its right to make an offer for AA at a later point. However, this will be only with the agreement of the AA’s board and if a rival bid is made.

Platinum’s withdrawal potentially leaves only one consortium left in the race.

Late last month reports emerged that rival bidder Warburg Pincus was talking to Centerbridge Partners and Towerbrook Capital Partners about combining forces rather than making competing bids for AA.

Last month AA said that its trading has been resilient during the pandemic and it expects only a small hit when it presents its results on 29 September.

Chairman John Leach said the businesses needed to pay down debts in order reach its ‘full potential’.

Powered by: Daily Mail

Continue Reading

Trending

Copyright © 2020 DiazHub.