Advertisement

G4S suffers rejection from police force

Security company G4S has been rejected for a police outsourcing deal by the Police and Crime Commissioners (PCCs) body, reports said Tuesday.

Security company G4S has been rejected for a police outsourcing deal by the Police and Crime Commissioners (PCCs) body, reports said Tuesday.

Three police forces - Bedfordshire, Cambridgeshire and Hertfordshire - had planned to employ the company's IT and human resources services, but have now backed out, following the PCCs's rejection.

Advertisement - Article continues below

G4S had made no comment at the time of publication.

The decision has yet to be formalised, the BBC said Tuesday.

The plan was formed to save the three forces around £73m, and had considered a tie-up with Lincolnshire police, which already has a 10-year contract with the security group.

G4S suffered a disasterous summer after its poor handling on the Olympic Games security, which cost it £50m after it was 10,400 security guards short for the event.

The share price dropped 0.86% to 276.50p by 15:35.

NR

Advertisement
Advertisement

Recommended

Broker safety – your questions answered
Investment strategy

Broker safety – your questions answered

Cris Sholto Heaton answers more of your questions about the safety of stockbroker accounts
25 Mar 2020
How demographics affects stock valuations
Investment strategy

How demographics affects stock valuations

New research suggests that stock and bond valuations are driven by the age of the population – at least in the US.
24 Feb 2020
Do you own shares in Sirius Minerals? Here’s what you need to do now
Stocks and shares

Do you own shares in Sirius Minerals? Here’s what you need to do now

Mining giant Anglo American has proposed a cash takeover of Yorkshire-based minnow Sirius Minerals. Unhappy shareholders must decide whether to accept…
20 Feb 2020
Why investors should be “cautiously bullish” for 2020
Stockmarkets

Why investors should be “cautiously bullish” for 2020

Analysts have been out in force making rosy predictions for stockmarkets in 2020, but while there is certainly a case for optimism, investors should r…
17 Jan 2020

Most Popular

An economics lesson from my barber
Inflation

An economics lesson from my barber

On reopening his shop after lockdown, Dominic Frisby’s barber doubled his prices. It’s all part of the post-Covid inflation process – and we’re going …
8 Jul 2020
What gold, bonds and tech stocks have in common
Stockmarkets

What gold, bonds and tech stocks have in common

"Risk off" or "safe haven" assets such as gold and government bonds have been doing well lately. But so have riskier tech stocks. That seems to defy c…
10 Jul 2020
Three ideas for Lloyds Bank's new boss
UK stockmarkets

Three ideas for Lloyds Bank's new boss

The Black Horse needs whipping into shape. A change at the top provides a great opportunity, says Matthew Lynn.
12 Jul 2020