Business
Future of Alexander Dennis secured by furlough investment, says Swinney
The future of bus firm Alexander Dennis has been “secured” by a £4 million furlough scheme, John Swinney has said.
The First Minister announced the move on Monday in hopes of avoiding the firm pulling out of Scotland and consolidating its operations at a single site in Yorkshire and saving 400 jobs.
The furlough scheme – the first of its kind to receive Scottish Government backing – will kick in when the firm signs a new order and will act as a “bridge to future”, supporting staff between the signing of a deal and the beginning of work.
Under the agreement, 80% of wages will be covered by the Scottish Government, while the company will pay the remainder, with the scheme funded for up to six months.
Speaking to the PA news agency at the Alexander Dennis site in Falkirk, the First Minister said: “I want to do everything I can in whatever circumstance to protect employment within Scotland, and especially manufacturing employment, because that generates significant wealth in the Scottish economy.
“I gave the company a commitment back in May that we would leave no stone unturned in finding a way through this with the company if they remain committed to manufacturing here in central Scotland.
“The company has demonstrated that commitment.”
He added: “I’m very confident that Alexander Dennis has got a positive outlook on orders and on business, that’s a change in situation from earlier on in the year, and what the Scottish Government is providing is essentially a bridge to the future to allow the company to realise and deliver on those orders.”
The furlough scheme could be cut short if work begins earlier than the 26-week limit, the First Minister added.
Alexander Dennis president and managing director Paul Davies told a Holyrood committee earlier this year the firm would need to secure between 70 and 100 bus orders by the end of the year as well as between 300 and 400 next year to be viable.
Responding to the news, Mr Davies said the company was “deeply grateful”.
“This announcement marks a turning point. The Scottish Government’s support allows us to propose a new outcome to our statutory consultation,” he said.
“This has been made possible by collaboration, determination and a shared belief in the value and future of domestic manufacturing.”
While new Scottish Secretary Douglas Alexander said the UK Government had been “leading intensive work” to save the jobs on the site.
“I warmly welcome Alexander Dennis’s decision which will see the company’s Falkirk and Larbert sites remain open and operational. This will be relief to the talented workforce,” he said.
“The UK Government has been leading intensive work with partners, including the Scottish Government, and actively encouraged the furlough scheme that has been announced today.
“Future orders are key to the long-term success of companies like Alexander Dennis.
“Alongside Mayors who have delivered thousands of orders, we will continue to do all we can to support our domestic bus manufacturers.”
The Scottish Tories welcomed the announcement, but MSP Stephen Kerr urged the Government to ensure the move “protects jobs in the long-term”.
Meanwhile, the trade union Unite’s general secretary Sharon Graham said: “The immediate priority is now to secure new orders for Alexander Dennis which will protect hundreds of highly skilled jobs for years to come.”
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Rising salaries should match rising SIPs, boosting fund growth and speeding financial goals. But stopping or withdrawing SIPs can shrink the fund and slow progress
Investing more than 20% of the monthly salary and redirecting annual bonuses to investments will expedite fund growth. (Representative/Shutterstock)
Individuals earning a monthly salary of Rs 50,000 can potentially build a substantial fund of Rs 2 crore through disciplined financial planning and investment. This seemingly challenging task can be achieved by adhering to a structured budget and consistent investment strategy.
The key is to manage spending wisely and allocate a fixed portion of the salary towards investments each month. To accomplish this, it is crucial to follow the 50-30-10-10 rule, which recommends dividing the salary into four parts for essential expenses, hobbies, savings, and investments.
For example, with a salary of Rs 50,000, Rs 25,000 (50%) should be allocated to essential expenses such as rent, utilities, children’s education, groceries, transport, and EMIs. These expenses are vital and must be prioritised.
Next, Rs 15,000 (30%) should be spent on hobbies and lifestyle activities, including outings, movie nights, online shopping, and dining out. This expenditure helps maintain a balanced and enjoyable life.
The third segment, Rs 5,000 (10%), should be dedicated to investments. This involves placing money in avenues like mutual fund SIPs, the stock market, gold, or PPF, where it can grow over time.
The final 10%, Rs 5,000, should be reserved for an emergency fund and insurance, offering a safety net during medical emergencies or unexpected expenses.
How Will The Rs 2 Crore Fund Be Raised?
To build a fund of Rs 2 crore from a salary of Rs 50,000, disciplined investment is essential. If Rs 5,000 is invested monthly in a mutual fund with an average annual return (CAGR) of 12%, it can grow to Rs 2 crore in approximately 31 years.
However, this timeline can be shortened. By starting with Rs 5,000 monthly and increasing the investment by 10% annually (Step-up SIP), the fund can reach Rs 2 crore in roughly 25 years with the same average CAGR of 12%.
Why Step-up SIP Matters Most
It is important to note that increasing investments annually as salaries rise accelerates fund growth, enabling quicker achievement of financial goals. Continuous investment is crucial; withdrawing funds or halting SIPs can diminish the fund’s size. Additionally, term and health insurance should be considered to safeguard investments against major financial setbacks.
For those aiming to achieve Rs 2 crore more swiftly, cutting back on expenses and increasing the investment amount is necessary. Investing more than 20% of the monthly salary and redirecting annual bonuses to investments rather than spending them will expedite fund growth. The earlier and more consistently investments are made, the faster the desired financial target can be reached.
September 15, 2025, 17:38 IST
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Shares have dipped in BT after it said Indian billionaire Sunil Bharti Mittal and one his close executives will join the board of the UK telecoms giant.
The company’s shares fell by around 3% in early trading as shareholders took the move as a signal that Mr Mittal will increase his influence on the direction of the firm.
On Monday, BT confirmed that the founder of Indian conglomerate Bharti Enterprises will become a non-executive director of BT and join the firm’s nominations committee.
It said Gopal Vittal, vice chairman and managing director of Bharti Airtel, will also join the BT board as a non-executive director.
BT said the appointments are part of a “relationship agreement” between the company and Bharti Global.
It means the group will be able to hold two roles on BT’s board while it holds a stake of at least 20% in the business.
This would reduce to one seat on the board if the stake falls to between 10% and 20%.
It comes after Mr Mittal’s Bharti vehicle bought a 24.5% stake in BT from French media and telecoms tycoon Patrick Drahi last year.
BT chairman Adam Crozier said: “We’re delighted to welcome Sunil and Gopal to the board of BT.
“They bring significant experience and global perspectives in the telecoms industry, and we look forward to their contribution to the board and to the future success of BT Group.”
Mr Mittal said: “I am delighted to be joining the board of BT, an iconic company delivering critical infrastructure and services for the UK.
“I look forward to working with chairman Adam Crozier, the board and chief executive Allison Kirkby to drive forward the strategy to win in the market and deliver world-leading services for BT’s customers.”
Business
Gold vs Sensex: Gold beats Sensex with 50.1% returns; outperforms over three, five, ten & twenty-year periods – The Times of India
Gold vs Sensex: Gold has delivered superior returns compared to Sensex over a several year horizon. Gold has surpassed domestic equities in terms of returns, primarily due to unprecedented buying by global central banks and investors seeking protection against inflation. The precious metal has yielded 50.1% returns in rupee terms during the last year, whilst the Sensex declined by 1.2%.The significant uptick over the past year can be attributed mainly to central banks’ acquisitions, as uncertainties related to trade disputes have increased the appeal of secure investments, according to an ET report.“Central banks continue to buy gold with about 25% of purchases coming from them,” says Sridhar Sivaram, investment director at Enam Holdings. “They are buying gold because of the ongoing tariff wars and as a diversification against the US treasury,” he was quoted as saying.
Gold outperforms Sensex
Gold has demonstrated superior performance compared to Sensex across multiple timeframes spanning three, five, ten and twenty years.In the past three years, gold yielded an annual return of 29.7%, surpassing the Sensex’s 10.7%. The five-year performance shows gold achieving 16.5% returns, slightly higher than the Sensex’s 16.1%.Looking at longer periods, gold’s performance remained robust with 15.4% returns over a decade, exceeding the Sensex’s 12.2%. The two-decade analysis reveals gold maintaining 15.2% returns compared to the Sensex’s 12.2%.
Why are gold prices rising?
Experts indicate that countries are shifting away from dollar-based reserves towards gold holdings. They recognise gold as a reliable value repository and protection against currency deterioration.“Gold extends beyond being only a hedge against inflation, as the US Federal Reserve is on the stage to start cutting interest rates with hotter inflation,” says NS Ramaswamy, head-commodity desk, Ventura securities.
Gold 995 – Mumbai
He further notes that anticipated US Federal Reserve rate reductions this month and ongoing uncertainty regarding President Donald Trump’s tariff decisions will sustain gold’s strong position.Recently, gold prices on Comex reached an unprecedented $3,715.2 per troy ounce, whilst silver exceeded $43, achieving its highest value in 14 years.
What is the outlook for gold prices?
Experts indicate that with gold prices having already surged 38%, future increases might be more modest. Nevertheless, portfolio diversification should include gold allocation between 10-15%. “Investors should continue to allocate 10% to gold in their portfolios as it is the only hedge against currency, but you should not expect returns to be as high as the previous year,” said Sivaram.For optimal investment strategy, Ramaswamy suggests maintaining 15% gold allocation, recommending purchases during price corrections.Recent significant price appreciation has led several market observers to favour equity investments over gold.According to research by Edelweiss Mutual Fund comparing Sensex to Gold ratios, gold currently appears overvalued relative to equities. Historical data suggests equity outperformance when the ratio dips below 1, whilst higher ratios typically indicate stronger gold performance.“The current ratio is 0.76, which is below the long-term average of 0.96,” Niranjan Avasthi, SVP and head- product, marketing & digital at Edelweiss Asset Management. “In the past when this ratio had been below 0.8, the BSE Sensex has given an 3 year average forward return of 25.12% compared to gold that could return 7.21%.”(Disclaimer: Recommendations and views on the stock market and other asset classes given by experts are their own. These opinions do not represent the views of The Times of India)
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How To Build A Rs 2 Crore Fund With A Salary Of Rs 50,000? Here’s The Plan
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