Asda accused of ‘fire and rehire’ in row over pay cut plans for 7,000 May 18, 2023 Asda and a union representing 7,000 workers have entered into a furious row, after the supermarket giant was accused of “inexcusable” pay cut plans. The chain rejected claims it is going to cut the pay of 7,000 low-paid retail workers, insisting it is in the middle of a consultation to remove an “anomaly” in the [...]
Next chairman survives shareholder vote – but ‘significant’ revolt proves cause for concern May 18, 2023 Shareholders dealt a series of blows against Next and its board on Thursday as large numbers voted to kick out its chairman and against the company’s pay plans. The business said chairman Michael Roney received less than four in five (79.2 per cent) of the votes cast at its annual shareholder meeting. Meanwhile around one [...]
Why so secretive? Sunak blasted for ‘surreptitious’ industrial strategy May 18, 2023 A set of cross-party former business secretaries have launched a stinging attack on Rishi Sunak over his apparent lack of a cohesive industrial strategy. Ex-ministers Greg Clark, Peter Mandelson and Vince Cable told the Financial Times the Prime Minister was being so “surreptitious” that his strategy for industry was a “guilty secret”. Clark, Conservative business [...]
900 City of London Corporation staff to strike this month – with Tower Bridge, Barbican and Old Bailey impacted May 18, 2023 Workers at tourist attractions across London are to strike in a dispute over pay. The GMB union said 900 of its members employed by the City of London Corporation will walk out on May 25 at attractions including Tower Bridge, Barbican, museums, gardens, parks and markets after voting overwhelmingly in favour of industrial action. The [...]
Vistry shares up on positive outlook for housebuilder May 18, 2023 Housebuilder Vistry said it expects profit to grow this year despite pressure that has been squeezing many of the country’s property companies in recent months. The company, formerly known as Bovis Homes, said it expects to make a pre-tax profit “in excess of £450m” during the current financial year. It would be an increase from [...]
SP Hinduja: Tributes to patriarch of Britain’s richest family who dies aged 87 May 18, 2023 The patriarch of one of Britain’s richest families has died at the age of 87, his family say. Businessman Srichand Hinduja, whose family topped 2022 Sunday Times Rich List and was said to be worth more than £28 billion, “passed away peacefully” on Wednesday “looked after” by relatives, a family spokesman said. The spokesman described [...]
The Notebook: Matt Scheckner talks embracing AI, Brand Britain and Gen Z May 18, 2023 The notebook is a place for interesting people to say interesting things. Today, it’s Advertising Week chairman Matt Scheckner, currently hosting Advertising Week Europe. AI will not be the death of creativity, so long as we embrace it With every turn of the page, we are reminded just how much the world has changed and [...]
Oceandiva London: The sustainable vessel on a mission to change London’s events scene May 18, 2023 Businesses are mobile - and that’s especially true in the case of Oceandiva, an 86m-long events vessel that arrived in London earlier this week.
Sunak at G7: Post Brexit ‘vote of confidence’ as Japan firms to invest £18bn in the UK May 18, 2023 Japanese businesses are committing to invest nearly £18 billion in the UK, Rishi Sunak has announced as he meets the bosses of major firms in Tokyo. The Prime Minister said the pledges are a “massive vote of confidence” in the British economy after he painted an optimistic outlook for the national finances. But Mr Sunak [...]
BT share price tumbles as firm announces tens of thousands job cuts May 18, 2023 BT has announced plans to slash its workforce by as much as 42 per cent over the next seven years in a bid to slash costs and become a “leaner business”.