Former City minister: Scrapping bonus cap could have waited ‘a little longer’ JOHN GLEN SPEAKS John Glen, the former City minister, has said the decision to scrap the bankers’ bonus cap should have waited amid a cost of living crisis. Glen told the Following the Rules podcast that the removal of the cap, announced last week by new Chancellor Kwasi Kwarteng, “was something that I would have deferred for a [...]
Domino’s appoints former Burger King executive as interim chief Domino's Domino’s has announced today that Elias Diaz Sese will take over as interim chief of the firm in October as it hunts for a permanent replacement for outgoing boss Dominic Paul.
Avanti asks ministers for relief with train service performance targets AVANTI London to Manchester train operator Avanti has begged ministers to relieve it from performance target deadlines, after struggling with driver shortages. The ailing operator has asked the Department for Transport to greenlight a “force majeure” declaration on its West Coast line, according to The Sunday Times. This would mean Avanti would not have to hit [...]
Outgoing TfL chief: No Khan split and Elizabeth Line a career highlight September 22, 2022 LONDON’S transport chief has moved to silence talk of a split with Mayor Sadiq Khan after he announced his departure from the top job. Conservative London Assembly transport spokesman Nick Rogers said the departure was a sign that Khan’s Mayoralty was “in chaos.” But Byford told City A.M. that Khan had been “extremely supportive” throughout [...]
Citigroup to wind down UK retail bank under renewed strategic vision September 22, 2022 Citigroup has said it intends to wind down its retail bank in the UK, as its chief executive pursues a more streamlined strategy. The bank has said it would like to bolster its offer to services for affluent clients, and has asked some retail clients to turn to its private bank. As this division in [...]
1 in 3 high street businesses miss out on rates relief September 20, 2022 The Government failed to support a third of high street businesses in England promised a discount on their business rates bills, according to new data. Property specialists at Gerald Eve found that just 272,000 out of a promised 400,000 retailers, leisure and hospitality venues were able to claim a 50% discount on the commercial property tax announced [...]
FCA: Crypto exchange FTX may be operating in UK without authorisation September 19, 2022 Britain’s Financial Conduct Authority said on Friday cryptocurrency exchange FTX may be offering financial services or products in the UK without its authorisation. FTX is one of the world’s largest crypto exchanges, raising its profile this year by acting as crypto’s white knight, throwing lifelines to digital asset platforms which have faltered as cryptocurrency prices [...]
Letters: Stop spying on me, boss September 16, 2022 [Re: UK civil servants to have computers monitored to get people back to office, September 13] The UK Civil Service should reconsider whether the surveillance of employees is the appropriate approach to get the most out of their staff and encourage their return to the office. It is important that employees feel accountable and acknowledged [...]
Letters: When the going gets tough September 15, 2022 [Re: Tax cuts are not enough to help the small businesses facing crippling energy bills, Sept 2] Businesses are facing soaring costs and weakening demand which threatens their existence. From the start of April to the end of June, there were over 5,600 registered company insolvencies in the UK, an 81 per cent increase from [...]
Bankers’ bonus cap could be scrapped by Kwasi Kwarteng September 14, 2022 The bankers’ bonus cap, which limits the pay of top City and Canary Wharf executives, could be scrapped by new Chancellor Kwasi Kwarteng. The cap, which was brought in as part of EU-wide efforts after the financial crisis, has long been criticised as an anti-competitive stranglehold on the capital’s competitiveness. Kwarteng wants to scrap the [...]
