UK firms urged to review reward schemes October 20, 2019 British companies should reconsider their use of long-term incentive plans in favour of restricted share awards, according to recommendations by a management think-tank. Long term incentive plans are designed to boost performance, however the system has faced criticism as the rewards are often not tied to a company’s share price. Read more: Berkeley Group faces [...]
Metro Bank prepares to cut off chairman Vernon Hill’s expenses budget October 20, 2019 Metro Bank is deciding when to cut off chairman Vernon Hill’s £10,000 a month expenses budget, and could continue funding his lifestyle after he steps down. The challenger bank may stop Hill’s expenses account in December, when he is due to step down as chairman and leave the board. Read more: Metro Bank share price [...]
Rising costs threaten to scupper 4G Tube rollout plans October 20, 2019 Plans to roll out 4G mobile networks on the London Underground are said to be under threat as operators fret over soaring costs. Transport for London (TfL) has outlined plans to provide 4G access to passengers across the Tube network in 2020 after delaying the process by more than a year. Read more: London Night [...]
Extinction Rebellion patron buys stake in Heathrow Airport October 20, 2019 A billionaire backer of Extinction Rebellion has been revealed to have a stake in Heathrow Airport. Sir Chrisopher Hohn has clandestinely built a 4 per cent stake in Heathrow parent company Ferrovial worth €730m (£630m), according to the Sunday Telegraph. Read more: Ferrovial makes bid to take trio of Britain’s regional airports It was reported [...]
HS2 is ‘out of control’: Andrea Leadsom October 20, 2019 HS2 is “out of control” and its management is insensitive, according to business secretary Andrea Leadsom Leadsom has entered a submission to the government’s review into the controversial project, according to the Sunday Telegraph. Read more: HS2 would drive rail price increase and shut out smaller northern cities She criticised HS2 Ltd for the way [...]
PwC accused of conflict of interest over advice given to Thomas Cook October 20, 2019 PwC has been accused of a conflict of interest for advising Thomas Cook executives on their pay and bonuses while it was also the auditor of the now-defunct travel firm. The Big Four firm audited Thomas Cook’s accounts between 2008 and 2016. Its accounts show PwC also earned £4m providing “recruitment and remuneration” advice to [...]
Rory Stewart ‘doesn’t speak for London’: Lib Dems mayoral candidate October 20, 2019 Rory Stewart’s support for Brexit makes him unfit to be mayor of London, according to one of his 2020 opponents. Liberal Democrats mayoral candidate Siobhan Benita slammed Stewart for not backing the Letwin amendment in parliament yesterday. Read more: DEBATE: Does former Tory leadership hopeful Rory Stewart have a shot at becoming mayor? The successful [...]
Property tycoon Nick Candy courts Saudis over Capco takeover bid October 20, 2019 Property magnate Nick Candy is said to be in talks with a Saudi investment fund over a potential takeover bid for Capital & Counties (Capco), the owner of Earls Court and Covent Garden. Candy, who developed the One Hyde Park complex with his brother Christian, has held early-stage discussions with Saudi Arabia’s Public Investment Fund [...]
Top City PR quits People’s Vote campaign amid blistering boardroom row October 20, 2019 City public relations tycoon Roland Rudd is set to quit his top role in the People’s Vote campaign as the anti-Brexit movement is rocked by a fierce boardroom battle. Rudd, founder and chairman of financial PR firm Finsbury, is reportedly set to resign as chairman of Open Britain, one of the key organisations behind the [...]
Supermarket chain Iceland takes a hit as insurers freeze out suppliers October 20, 2019 Suppliers to supermarket chain Iceland are said to have had their insurance cover cut amid concerns about the impact of Brexit on the company’s supply chain. Paris-based insurer Euler Hermes reduced the credit cover it provides to Iceland’s suppliers over the summer, while rival Atradius is also mulling a possible cut, the Sunday Times reported. [...]