Self-care: Quarter of office workers mull resignations in coming year June 6, 2022 Almost half of office workers do not think their firm is a good place to work, with many considering resigning in the coming year, fresh statistics have revealed. Some 24 per cent of workers are considering quitting their job in the months ahead, according to real estate consultancy JLL, which surveyed more than 4,000 office [...]
Exclusive: FCA not ‘selling out’ on premium listings, which could spur biotech sector, argues City lawyer May 31, 2022 The FCA’s proposed reforms to the UK’s listing regime, published last week, could help spur the biotech and technology sectors, a senior City lawyer has told City A.M. In the plans, the FCA has outlined how it plans to make the rules companies must follow in order to be allowed to list their shares in the [...]
Marine and aviation insurance premiums more double as policyholders feel hit from Ukraine war May 30, 2022 The cost of insuring certain marine and aviation businesses has more than doubled due to rising costs and the risks associated with the war in Ukraine. Global insurance premiums increased 11 per cent in the first quarter 2022, as conflict in Ukraine pushed up insurance costs worldwide, Reuters said. However, insurance costs have soared particularly [...]
Pendragon to face shareholder mutiny after Hedin Group hits out over executive pay May 30, 2022 Swedish car seller Hedin Group has vowed to vote down Pendragon’s executive pay policy, after slamming the UK’s second biggest car dealer over its plans to hand out bumper bonuses to its board. The Swedish group – which is currently Pendragon’s largest shareholder – hit out at the UK car seller over its decision to [...]
Chief executive pay at FTSE 100 firms bounces back to pre-pandemic levels May 30, 2022 The sums paid out to chief executives at the City’s major listed firms have bounced back to pre-pandemic levels, after jumping 30 per cent over the previous year to five year highs of £3.62m. The pay packages mark a return to levels last seen before the pandemic and a 30 per cent increase on the [...]
Billionaire activist investor exits Generali’s board in wake of failed shareholder coup May 30, 2022 Italian billionaire Francesco Gaetano Caltagirone has stepped down from the board of insurance giant Generali, following the collapse of his shareholder mutiny to oust the insurer’s management team. The exit comes after Caltagirone put forward a shareholder resolution to block Generali’s incumbent chief executive, Philippe Donnet, from taking on a third term leading the firm. [...]
Hogan Lovells readies itself for demolition of Holborn Viaduct HQ after taking up office space at 10 Fleet Place May 30, 2022 British-American law firm Hogan Lovells has struck a 10-year deal with private equity firm Addington Capital to rent out the seventh and eighth floors of the firm’s 10 Fleet Place office building. The legal sector giant is set to transfer its business services teams to the 10 Fleet Place premises, as it seeks to exit [...]
KPMG to cut back audit clients in bid to boost standards May 29, 2022 Big four firm KPMG will scale back its audit operation to focus on improving standards after being hit by a string of fines over audit failings in recent years.
EasyJet and Tui cancel flights ahead of school holidays and Jubilee Weekend May 28, 2022 Airlines EasyJet and Tui have said they plan to cancel hundreds of flights in the coming weeks, in disruption that threatens to cause chaos over Britain’s Jubilee Weekend. Budget airline EasyJet today said is set to cancel more than 200 flights over the next 10 days, just days after IT issues forced the firm to [...]
Venture capitalist Julie Meyer fails to overturn six-month suspended sentence May 28, 2022 Venture capitalist Julie Meyer has failed in her bid to overturn the six-month suspended sentence handed down to her in February, following her long-standing refusal to pay almost £200,000 in legal fees to London law firm Farrer & Co. At a hearing on Thursday, a Court of Appeals judge rejected the businesswoman’s appeal, as he [...]