Ferguson suffers investor revolt over executive pay packets November 21, 2019 Plumbing supplies company Ferguson today suffered a bruising pay revolt after almost a third of shareholders voted against its remuneration policy. Just under 30 per cent of investors voted against Ferguson’s remuneration policy at the company’s annual general meeting today, while a quarter opposed its directors’ pay policy. Read more: Ferguson boosts profit ahead of [...]
Retail landlord New River REIT swings to a loss on weak investor sentiment November 21, 2019 Property landlord New River REIT swung to a loss in the first half of the year as its portfolio valuation sank due to weak investor sentiment in the retail sector. The FTSE-250 real estate investment trust, which focuses on retail and leisure properties, reported a loss of £21.3m from a profit of £2.7m last year. [...]
General Election 2019: Labour ‘pretending’ only richest will fund its £83bn spending spree November 21, 2019 Labour’s has been criticised for “pretending” it can fund the bulk of its £83bn spending spree by raising taxes for the only the richest five per cent of the country. Revealing his party manifesto this morning Jeremy Corbyn pledged that the vast majority of British taxpayers would be unaffected by Labour’s plans, which include widespread [...]
Netflix down: Streaming giant apologises as outages hit users across the globe November 21, 2019 Netflix users were less than chilled this afternoon as outages left them unable to watch their favourite films and TV shows. Read more: BBC chairman hits back at suggestions of Netflix-style subscription model More than a thousand users across the US and Europe reported difficulties loading videos, according to tracking site Down Detector. Scores of [...]
Hey, big spenders: Conservatives rake in cash during first week of election campaign November 21, 2019 Conservatives have raked in more than £5.6m in party donations during the first week of the election campaign, Electoral Commission data has revealed. The Labour party meanwhile scraped together just £218,500 – meaning that the Tories received £25 for every £1 sent to Jeremy Corbyn and co. Even the Liberal Democrats and Brexit Party out-fundraised [...]
Uber is behind a sharp rise in London’s air pollution November 21, 2019 Uber and other ride-hailing apps have contributed to a sharp rise in CO2 emissions and air pollution in the taxi and ride services sector, according to a new report The report – written by the European Federation for Transport and Environment (T&E) – found there was a 23 per cent increase in emissions from “taxi-like [...]
National insurance payment cut to mostly benefit middle and higher-earners, says IFS November 21, 2019 Prime Minister Boris Johnson’s plans to raise the national insurance contribution (NIC) threshold would mostly benefit middle and higher-income households, the Institute for Fiscal Studies (IFS) has said. The Conservatives intend to raise the point at which workers pay national insurance to £9,500 in 2020/21 from its currently-planned level of £8,788. The party also intends [...]
Bosch cuts ties with Pitch@Palace as Prince Andrew stays on November 21, 2019 Bosch is the latest company to end its association with Prince Andrew’s Pitch@Palace scheme, City A.M. has learnt. A spokesperson for Bosch confirmed: “While Bosch will continue to support the next generation of entrepreneurial talent through various means, the company has decided against renewing its sponsorship with Pitch@Palace. The current contract is due to expire [...]
Investec profit falls amid preparations for asset management demerger November 21, 2019 Investec has reported a drop in profit before tax for the first half “against challenging market conditions”, as the Anglo-South African business group prepares to spin off its asset management business next year. The figures Pre-tax profit fell just over ten per cent to £349m for the six months to 30 September. Investec’s return on [...]
General Election 2019: City urges rethink over Labour’s ‘hostile’ manifesto November 21, 2019 City figures have urged Labour to reconsider its combative position towards business and the City after Jeremy Corbyn revelled in the “hostility” his new manifesto would bring. Corbyn unveiled his “radical” vision for a Labour government this morning, with a document setting out the details of how the party would pay for its spending spree, [...]