Tesco gets hit with £4bn equal pay bill in first wave of legal challenge | City A.M. July 11, 2018 Supermarket giant Tesco is facing the music over claims it has been underpaying its female staff, as the first 1,000 workers successfully launched a legal challenge against the retailer today. The law firm Leigh Day helped 100 women file a claim against Tesco in February, and has since followed up with a further 900 claims [...]
1 in 3 Londoners have no retirement: How property could be the answer to a fruitful retirement | City A.M. July 11, 2018 Most people dream of a comfortable, long retirement, but with the current state pension sitting at just £125 per week, and the full new state pension (for a man born on or after 6 April 1951 or a woman born on or after 6 April 1953) just £168 per week, the reality is somewhat sobering. [...]
1 in 3 Londoners have no retirement: How property could be the answer to a fruitful retirement July 11, 2018 Most people dream of a comfortable, long retirement, but with the current state pension sitting at just £125 per week, and the full new state pension (for a man born on or after 6 April 1951 or a woman born on or after 6 April 1953) just £168 per week, the reality is somewhat sobering. [...]
BT investors stage revolt over Gavin Patterson’s £2.3m pay packet July 11, 2018 BT faced down a shareholder revolt at the company’s annual meeting in Edinburgh today over its executive pay plan. More than a third (34.2 per cent) of investors voted against the telecoms giant’s remuneration report. BT’s annual report in May showed that Patterson was paid £2.3m last year, including a £1.3m performance bonus, just weeks [...]
Stock markets sell off as economists warn trade war is unlikely to be avoided July 11, 2018 Stock markets around the world sold off today as China hit back at Donald Trump’s White House in the latest round of tariff escalation as economists warned there is little chance of averting a full trade war. China will take countermeasures against US tariffs, it warned today. The FTSE 100 fell by one per cent [...]
Nato: Donald Trump claims Germany is held ‘captive’ to Russia over energy July 11, 2018 Donald Trump has kicked off the Nato summit with a bang, claiming Germany is “a captive to Russia” because of its energy requirements. Speaking during a working breakfast with Nato secretary general Jens Stoltenberg, the US President said it was “very inappropriate” that the US had to “protect you against Russia” while Germany supported a [...]
New Financial Conduct Authority (FCA) chair Charles Randell warns of danger of big data ‘algogracy’ July 11, 2018 The new chair of the Financial Conduct Authority (FCA) Charles Randell today warned of the danger of a new “algocracy” as new technology threatens to harm consumers of financial services. Randell suggested that the concurrent rise of “big data”, artificial intelligence and machine learning, along with behavioural science insights, could require a new regulatory framework. [...]
Irish Taoiseach Leo Varadkar backs Chequers’ Brexit proposals July 11, 2018 The Irish Taoiseach has welcomed the UK government’s Chequers proposal, giving hope that the Irish border issue may well be resolved. Leo Varadkar told the Dail he had spoken with Theresa May on Saturday, and that the approach outlined at that point could help drive talks forward. If the UK relaxes its red lines, then [...]
China vows to ‘fight back’ after US threatens $200bn tariffs on goods July 11, 2018 Beijing has vowed to “fight back as usual” after Donald Trump’s tit-for-tat trade war with China escalated once again last night. Washington threatened to slap a further $200bn (£150.8bn) worth of tariffs on a wide range of Chinese goods such as coal, tobacco and consumer electronics after talks between the two superpowers to ease tensions [...]
Lessons from the past may inform Nissan’s emissions strategy following BMW and Volkswagen’s woes July 11, 2018 This week, car maker Nissan said it found emissions and fuel economy data had been falsified at some of its factories in Japan. Nissan has not revealed how many cars were involved, but did state that emissions and fuel economy tests had “deviated from the prescribed testing environment”. However, it maintained that emission and fuel [...]