While we stand on unsteady ground about a second referendum, the UK government guarantees funding for businesses from the EU until 2020, Papa John sues his own pizza firm after resigning and Facebook loses $120bn hitting a historic low
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Papa John’s founder and ex-CEO sues his firm for access to documents
It's no secret that racial bias and discrimination is a problem many business leaders have. While the ideal solution would be to change their attitude, Papa John’s founder John Schnatter doesn't think so.
Schnatter sued the pizza chain in a complaint filed on Thursday, July 26, demanding internal files and records because of the “unexplained and heavy-handed way” that Papa John’s International has treated him.
The former CEO resigned as the chairman of the company in July 2018, after he was caught using the N-word on a conference call.
In a statement, the Papa John’s board said the company was "saddened and disappointed" Schnatter had filed a "needless and wasteful lawsuit in an attempt to distract from his own words and actions".
Many mistakes and flaws can be forgiven but racial discrimination doesn’t make the cut.
European funding protected for UK businesses even in event of no Brexit deal
The controversy around the post-Brexit deal between the UK and the EU continues and entrepreneurs are even more wary of the consequences on their business and investments from the EU.
But to make business in Blighty easier, chancellor Philip Hammond said on Tuesday, July 24, that in the light of a possible no deal , businesses, organisations and universities which have secured funding through EU programmes until the end of 2020 will be guaranteed full financial allocation by the UK government over a project’s lifetime. Additionally, the government will also guarantee funding for businesses which secured successful bids directly through EU organisations like Horizon 2020.
Given that many businesses have reported a loss in the wake of Article 50, the chancellor’s assurance might give owners a relief. But time will tell whether it will be implemented as promised.
Facebook’s market value plummets to another low with a loss of $120bn
It was indeed a downward spiral for Facebook after allegedly being involved in the Cambridge Analytica scandal. The accusation of data breach and using private information has cost the social media platform not only people’s trust but also billions of dollars.
Recorded on Thursday July 26, the stock market value of the social media giant dropped by 19% to a record low, seeing a loss of $120bn in value.
Interestingly, a study published in May by Pew Research Centre on American teenagers showed they prefer using YouTube, Instagram and Snapchat than Facebook which means the social network is seeing a low usage as well.
Even though the Zuck has been continuously trying to counter fake news in a bid to secure trust, the company seems to be seeing worse days as time goes by.
UK trails behind in the work-life balance test among other countries
We're all guilty of working after hours to meet targets. And UK professionals are getting burned out quicker due to overworking. This was proved in research from Spotahome, a property rental company, which revealed how countries globally fall in the work-life balance scale.
According to the study, the UK ranked 28th with a 6.27 rating on ten just after the US. Russia was ranked as the best country worldwide for work-life balance followed by Netherlands and Sweden.
There are no second thoughts that spending time away from work is rather beneficial and makes you more productive so business owners should definitely not be guilty of taking time off.
The UK might be leading the way where tech firms are concerned but when it comes to balancing work with fun, it definitely has more to learn from its neighbours.
Expelling racial behaviour in your business
Top business officials have resigned after being guilty of using discriminative slurs in the workplace with big companies such as Uber, Netflix and Papa John’s. What can entrepreneurs do to prevent such biased attitudes?
Revolutionising the fashion industry
More startup owners are becoming sustainable in their outlook and want to change the concept of fast fashion. We spoke to a few disruptors in the sector.
Brexit is an opportunity for SMEs
Due to the fears of Brexit consequences, more business owners are looking at spreading their wings and flying across the sea, research by UKBAA said.
Oslo grows as a new startup capital in Europe
While the UK has been the tech epicentre of Europe, interestingly, Norway capital Oslo has been attracting a lot more venture capitalists and the startup scene is booming.
The world needs more ethnic minority talent
Looking at the appalling statistics of how low the employment for black people in the UK are, Gary Stewart, director of Wayra UK, says how important it is for the economy as a whole to encourage more equality in offices.
Tips from the football tournament for entrepreneurs
It didn’t come home but the Premier League had many lessons for businesses to learn. Make sure you inculcate them in your company.