Frasers shareholders approve £100m bonus for Mike Ashley’s prospective son-in-law – CityAM : CityAM September 29, 2021 Shareholders in Mike Ashley-led retail giant Frasers Group have approved the firm’s pay deal which could hand incoming chief executive, and prospective son-in-law of Ashley, Michael Murray, with a £100m bonus. Frasers said it easily passed the 50 per cent needed to approve the package, with just over 15 per cent of shareholder votes cast [...]
HGV applicants waiting three months for license test – CityAM : CityAM September 29, 2021 Applicants for HGV licenses are waiting three months to do a lorry driving test at nearly two thirds of testing centres in the UK. 62 per cent of HGV test centres currently have a waiting list of at least 11 weeks, indicating the severe shortage of lorry drivers causing the UK economy to grind to [...]
Amazon offers ‘options’ to truck marshals facing pay cuts September 29, 2021 Online giant Amazon has said it is offering “a number of options” to truck marshalls who face a pay cut of almost a quarter at its delivery stations. The role involves people managing hundreds of trucks and drivers at the online retailer’s delivery stations and warehouses. Two marshals told Business Insider they were told this [...]
Starmer will vow to get Labour ‘back in business’ in conference speech September 29, 2021 Sir Keir Starmer will today vow to get Labour “back in business” while rejecting the Jeremy Corbyn era in his make-or-break party conference speech today. The Labour leader will use the speech to attack the Conservatives by claiming the government is “lost in the woods” and announce a string of new policies, including a teacher [...]
Exclusive: 300 UK financiers provide £40bn in deforestation funds, claims WWF September 29, 2021 Around 300 City and UK-based financiers are directly providing £40bn in funding to companies that threaten Brazilian and Indonesian rainforests, according to nature charity WWF. The funding is provided through both investments and loans, the organisation told City A.M. in an email. Most of the companies are involved in the production of beef, palm oil, [...]
Franco Manca operator Fulham Shore beats expectations in H1 2021 : CityAM September 29, 2021 The operator of Franco Manca and The Real Greek beat expectations for the first half of 2021 despite the challenge of ongoing Covid restrictions. The restaurant operator faced tough conditions during the first half of the financial year, which began on 29 March 2021 during the UK’s third COVID-19 lockdown, and was forced to trade [...]
Brexit: Furious French govt threatens to retaliate as only 12 fishing licenses for UK waters are granted – CityAM : CityAM September 29, 2021 It appears that only 12 fishing licences for small boats to operate in UK waters have been granted, out of 47 applications. The French government is furious, accusing the UK of taking French fishing “hostage” and Macron’s administration warned of “retaliatory action” following the decision. The prospect of a new cross-channel fishing war came after [...]
Exclusive: Freight Right CEO on worsening vessel congestion in America’s busiest container port September 29, 2021 To highlight the global state of the current supply chain, City A.M. caught up with Freight Right CEO Robert Khachatryan. Khachatryan offered to provide a visual representation of the current problem, and explained the issues that his firm, and many other freight companies, are currently facing. Watch the full report.
Court gives £600m compensation case against BT the green light – CityAM : CityAM September 28, 2021 A court has approved a £600m legal case against BT, on behalf of some 2m landline customers who claim they have been overcharged. The telecoms giant was investigated by Ofcom in 2017 for similar claims, which led to BT trimming future bills for those who felt short-changed. Director of Advocacy and Policy at Which?, Rocio [...]
Labour conference: City lawyers would be forced to give free help to rape victims under Starmer September 28, 2021 A Labour government will force City lawyers to take on 35 hours a year of free work on behalf of rape victims, shadow justice secretary David Lammy has announced. The new policy would see City of London firms disqualified from winning government contracts unless every one of their lawyers undertakes the pro bono work. Lammy [...]