Union boss who ‘supported pro-Putin separatist’ replaces Mick Lynch as RMT general secretary March 6, 2025 The Rail, Maritime and Transport union (RMT) has announced a replacement for its infamous former general secretary Mick Lynch. Eddie Dempsey, who served as the RMT’s senior assistant general secretary, will take the top job on Friday after being elected unopposed. Dempsey, a veteran of the railway industry and former train driver, played a key [...]
US ban looms, yet TikTok’s ad revenue soars March 6, 2025 TikTok’s advertising revenue is set to exceed $30bn this year, despite looming uncertainty over a potential US ban. WARC Media’s latest insights suggest that this could jeopardise almost $12bn in ad spend. The platform’s ad business is growing rapidly, helping to cushion the blow should a ban take effect in the US, which accounts for [...]
European bond rout worsens ahead of pivotal defence summit March 6, 2025 European bond yields continued to climb on Thursday as traders weighed expectations of higher borrowing from major European economies, which is expected to boost defence spending. German bonds suffered their worst day since the immediate aftermath of the fall of the Berlin Wall on Wednesday, after soon-to-be Chancellor Friedrich Merz laid out a bumper package [...]
OakNorth: Shareholders to be handed £40m as US expansion boosts profit March 6, 2025 Profit at challenger bank OakNorth has surged thanks to its expansion into the USA, it has been revealed. The London-headquartered digital bank has reported a pre-tax profit of £214.8m for 2024, up from the £187.3m it posted for the previous 12 months. Over the year, OakNorth provided more than £2.1bn in gross new lending to [...]
BP CEO takes huge pay cut as profit slashed at FTSE 100 giant March 6, 2025 The chief executive of BP has taken a £2.3m pay cut as profit was slashed at the FTSE 100 giant. Murray Auchincloss received a pay packet of £5.4m for 2024, down from the £7.7m he received in 2023. The drop came amid a more than £1.1m cut to his bonus to £734,000, and a £1.6m [...]
Rolls-Royce CEO’s pay slashed by almost £10m despite rocketing FTSE 100 shares March 6, 2025 The chief executive of Rolls-Royce, Tufan Erginbilgic, has seen his pay slashed by almost £10m despite transforming the fortunes of the FTSE 100 giant. The CEO took home a pay packet of £4.1m for the Derby-headquartered group’s latest financial year, down from the £13.6m he received in the prior 12 months. Erginbilgic’s previous remuneration package [...]
UK construction output plummets to five-year low March 6, 2025 The UK’s construction output hit a five-year low in February as its fastest downturn since May 2020 continued. S&P Global’s UK Construction Purchasing Managers Index dropped to 44.6 in February, down from 48.1 in January. The latest figure indicated a steep decline in overall construction activity was propelled by a sluggish performance in residential buildings, [...]
Starmer throws weight behind 2035 Fifa World Cup bid March 6, 2025 Prime Minister Keir Starmer has thrown his weight behind a United Kingdom bid for the 2035 Fifa Women’s World Cup. The bid would combine stadiums from England, Scotland, Wales and Northern Ireland and, if it is successful, would see the Home Nations host the showpiece women’s event for the first time ever. Starmer said the [...]
Motorsport UK chair slams FIA for lack of ‘gold-standard’ governance March 6, 2025 The chair of Motorsport UK David Richards has threatened the FIA with legal action, slamming the governing body for a lack of “gold-standard” governance. Richards claims he was told to sign a restrictive new confidentiality act, as a member of the motorsport council, that imposed €50,000 fines for breaches and a fewer rules and guidelines [...]
Ocado: CEO pay jumps despite heavy losses and flagging share price March 6, 2025 The chief executive of Ocado has seen his pay jump despite continuing heavy losses at the technology and grocery platform. Tim Steiner took home more than £2.6m for his company’s latest financial year, a rise from the £1.9m he was awarded in the prior 12 months. The increase was mainly driven by a rise in [...]