Sunak accepts six per cent public sector pay rises but warns it ‘will cost all of you as taxpayers’ July 13, 2023 Government has accepted recommendations for millions of public sector workers to receive pay rises of six per cent or more, Rishi Sunak has announced. The prime minister said today reports from independent pay bodies calling for public sector pay rises of between five and 6.5 per cent for millions of medics, teachers and civil servants [...]
Reasons to be positive about the Chancellor’s Mansion House Reforms July 13, 2023 Lord Holmes examines this week's Mansion House reforms where he welcomed significant potential, and reasons for optimism.
Allen & Overy profits dip as it battles headwinds ahead of Shearman & Sterling merger July 13, 2023 Law firm Allen & Overy has reported a slight dip in its annual pre-tax profits as it battled “intensifying headwinds” ahead of its merger with Shearman & Sterling. Pre-tax profits came in at £892m for the year ending 30 April, down from £900m the previous year. Average profit per equity partner came in at £1.82m. [...]
Disney scraps successor plans, extends CEO Bob Iger’s deal – and adds bonus of 500 per cent his salary July 13, 2023 Disney boss Bob Iger has extended his contract by two years with his annual bonus potentially reaching five times its previous size. Originally set to expire next year, Iger’s contract will now run through the end of 2026. The boosted bonus means Iger could receive up to 500 per cent of his annual base salary [...]
Jeremy Hunt on track to ‘obliterate’ fiscal rules as OBR warns of much higher debt bill July 13, 2023 Jeremy Hunt is on track to blow out his financial goals due to the Bank of England hiking interest rates aggressively to bring down sticky inflation, according to new forecasts out today from the UK’s spending watchdog. Payments to investors who have purchased UK government debt are poised to rise more than £90bn above what [...]
UK’s second largest offshore wind farm given the green light July 13, 2023 Hornsea Four, one of the UK's biggest offshore wind farms has finally been given the go-ahead by government.
Easyjet CEO to meet with transport secretary over summer flight cancellations July 13, 2023 The aviation minister is “meeting with the CEO of easyJet later today” the Transport Secretary has said, amid the company’s announcement over summer flight cancellations. Conservative chair of the Transport Committee Iain Stewart called on Mark Harper to give assurances the transport system “is going to be resilient” over “concerns that industrial action in Europe [...]
Hipgnosis working to increase shareholder value after investor complaints July 13, 2023 The boss of Hipgnosis said today that the song management company is working on options to increase shareholder value after investors complained about its dwindling share price. “I am aligned with shareholders in believing that the fundamental value and opportunity of the company fails to be reflected in the current share price,” Merck Mercuriadis, Hipgnosis boss [...]
Network Rail told to shape up as watchdog warns it is in ‘sustained decline’ July 13, 2023 There has been a “sustained decline” in Network Rail’s performance over the last year, with delays worsening and a worsening of its infrastructure, the sector’s watchdog has said. Network Rail, which oversees Britain’s rail infrastructure system, “missed” many of its yearly targets and has overseen an increase in delays in all five of its regions, [...]
Unions win court fight with government over agencies filling in for strikers July 13, 2023 Unions have won a High Court fight with the government after challenging law changes they said let agencies supply employers with workers to fill in for striking staff. More than 10 unions, including Aslef, Unite and Usdaw, had taken legal action against ministers claiming the changes undermined the “right to strike”. They argued that the [...]
