Return to sender: Union suspends Royal Mail pay deal over ‘toxic’ environment POSTMAN SPAT A pay deal that helped end months of strike action at Royal Mail is at risk of falling apart after the Communication Workers Union (CWU) said today it would suspend its upcoming vote on the agreement over concerns with the company’s “toxic” working environment. The agreement, struck last month, included a 10 per cent salary [...]
SSE profit soars 89 per cent as it ramps up spending on green projects ENERGY FTSE 100 energy giant SSE reported an 89 per cent jump in its adjusted pre-tax profit today after benefitting from higher energy prices. The firm’s annual profit rose from £1.16bn in 2022 to £2.18bn for the year ending in March. It also said it would accelerate its five-year net zero plan to 2027, increasing its [...]
Libor-rigging: Senior MPs demand inquiry into claims parliament was ‘misled’ LIBOR SCANDAL MPs are demanding an inquiry into claims that central banks and authorities misled parliament during their investigations into the rigging of the London Interbank Offered Rate, known as Libor. The new claims come from a new book on the Libor scandal by BBC economics correspondent Andy Verity called ‘Rigged’, which The Times is publishing extracts [...]
Drax looks to expand in the US as it takes advantage of Inflation Reduction Act May 23, 2023 Drax is looking to expand its operations in North America as it looks to take full advantage of the benefits on offer under the Inflation Reduction Act.
Google boss Sundar Pichai warns AI is ‘too important not to regulate’ May 23, 2023 Artificial Intelligence (AI) is too important not to regulate and the US and EU must work together to develop “robust” rules to guide the growth of the powerful new technology, Alphabet’s boss Sundar Pichai said today.
City businessman on the run after being convicted of fraud in £70m forex scam May 22, 2023 A businessman who ran a ponzi-style investment scam worth in excess of £70m was found guilty today following a seven week trial.
David Davis calls for review of authorities’ role in Libor probes in light of new evidence May 18, 2023 Conservative MP David Davis has called for a review of state agencies’ role in the investigation and prosecution of traders for rigging Libor ahead of new evidence that is set to be released next week. The evidence, Davis said, will come from a new book on the Libor scandal by BBC economics correspondent Andy Verity [...]
PwC global execs take the reins at Australian unit amid tax leak scandal May 18, 2023 PwC’s global bosses will take control of its Australian business after the unit became embroiled in a tax leak scandal. International executives were flown out earlier this month to help contain the crisis, but they are now set to stay for several months longer in a bid to prevent any further damage to the firm’s [...]
Former London Capital & Finance CEO sentenced after splashing hidden funds on pricey Italian getaway and hot tub May 17, 2023 The former CEO of now collapsed London Capital & Finance was handed a suspended sentence today after he was found to have breached an asset freezing order, splashing hidden funds on a holiday, hotel stay and a hot tub. The Serious Fraud Office froze Michael Thomson’s assets as part of its ongoing investigation into suspected [...]
Ailing online estate agent Purplebricks to be sold for just £1 with job cuts expected May 17, 2023 Struggling online estate agent Purplebricks will be sold to rival firm Strike for just £1, the company announced today. After struggling to improve its performance, the firm put itself up for sale in February. The announcement saw Purplebricks’ share price plummet, down 42 per cent at the time of reporting to 76p. Shares have fallen [...]
