Olazabal brings Ryder Cup flavour to Staysure PGA Seniors Championship August 23, 2023 Two-time Masters winner Jose Maria Olazabal will tee it up alongside a host of golfing greats when the Staysure PGA Seniors Championship gets underway at Trump International Golf Links tomorrow. Olazabal will headline a star-studded field as the Legends Tour’s flagship event heads to Aberdeenshire for the first time. Defending champion Adilson da Silva, who [...]
Staff at UK aviation regulator vote to strike in feud over pay August 23, 2023 Workers at the Civil Aviation Authority (CAA) have voted overwhelmingly in favour of industrial action in a dispute over pay. Members of the Prospect union backed strikes by 2-1 and by almost 9-1 for other forms of industrial action. The union said the CAA had refused to provide a “fair” pay rise for this year. Prospect added [...]
Shell and BP among firms accused of greenwashing over renewable energy August 23, 2023 Shell and BP are among 12 oil firms who have been accused of greenwashing over the amount of renewable and low-carbon energy they produce. Research commissioned by Greenpeace analysed the annual reports of the British fossil fuel giants for 2022, alongside 10 other European companies. The report compared the amount of renewable electricity generated by [...]
UK pay deals cool for first time in 2023, easing pressure on BoE August 23, 2023 Pay deals awarded by British employers cooled for the first time this year in the quarter to July, which may calm the worries of Bank of England officials who fear wage growth is feeding inflation, a survey showed on Wednesday. Median basic pay deals in the three months to the end of July fell to [...]
Most challenger banks admit to only ‘occasional’ sanctions screening August 23, 2023 More than half of challenger banks have admitted to only performing occasional sanctions checks, according to a recent survey. Only a quarter of the challenger banks it surveyed said they always perform the appropriate screening processes. A total of 54 per cent of challenger banks admitted to performing checks regarding sanctions or politically exposed persons [...]
PwC UK profit drops against backdrop of ‘political and economic upheaval’ August 23, 2023 PwC UK reported a drop in annual profit against what it said was “a backdrop of political and economic upheaval”. The Big Four firm revealed its total group consolidated profit fell to £1.3bn for the financial year to 30 June, down from £1.5bn last year. It said, however, the previous year included a “one-off gain” [...]
XTX Markets billionaire founder almost doubles his wealth in a year August 22, 2023 Alex Gerko, founder of XTX Markets, has nearly doubled his net worth in just one year, according to the latest Bloomberg Billionaires Index. The 43-year-old, who launched the London-based proprietary trading and market-making business in 2015, is now worth £8.5bn following a bumper year for the business. In June, it was reported that revenue from [...]
Network Rail faces prosecution over deadly train crash August 22, 2023 Network Rail faces prosecution over a train crash which killed three people. Train driver Brett McCullough, 45, conductor Donald Dinnie, 58, and passenger Christopher Stuchbury, 62, died in the smash near Stonehaven, Aberdeenshire, on August 12 2020. The case will call at the High Court in Aberdeen on September 7. The ScotRail train derailed at [...]
ARM muscles up for bumper IPO with $70bn valuation and 28 rostered banks August 22, 2023 SoftBank Group Corp’s Arm Holdings Ltd reported a 1% fall in annual revenue due to a slowdown in smartphone sales, after the chip designer disclosed the paperwork for an initial public offering (IPO) that is expected to be the largest of the year. Arm’s stock market launch is expected to bring back to life a lackluster IPO [...]
The Notebook: Victoria Scholar on falling house prices, global travel’s acceleration and Netflix’s Sackler drama August 22, 2023 Today, Victoria Scholar, head of investment at Interactive Investor, takes the City A.M. notebook pen The only thing being built is negative momentum Rising interest rates, high inflation and the cost of living crisis are starting to take a serious toll on the UK housing market. Just this week, data from Rightmove pointed to a [...]
