Firms which fail to improve ESG performance will face action, FCA warns March 20, 2023 Companies creating benchmarks to measure environmental, social and governance (ESG) performance will be hit with enforcement action if they fail to improve their “poor” performance, the Financial Conduct Authority (FCA) warned today. The City watchdog has been tightening rules around ESG claims and is set to roll out a host of new measures this year [...]
Amazon to sack 9,000 more workers as mass tech job cuts continue March 20, 2023 Amazon is slashing another 9,000 employee job roles worldwide as the tech giant steams ahead with further cost-cutting measures. The firm made staff aware of the job cuts in a note by chief Andy Jassy, who said workers in the Amazon Web Services, human resources, advertising and Twitch units would be most impacted by the [...]
Explainer: The Met Police is at risk of being broken up March 20, 2023 The Met Police have faced scandal after scandal in the last few years. The past couple of years cast light on serious failings to get rid of violent, misogynistic and racist officials. After the murder of Sarah Everard by serving officer Wayne Couzens, many women don’t trust the police anymore – only 4 per cent [...]
Bank of England confirms AT1 bondholders priority over shareholders as it proclaims UK banks ‘safe and sound’ March 20, 2023 The Bank of England confirmed the pecking order in which investors would be paid out if a bank went bust as it sought to reassure markets about the stability of the UK’s financial system. In a statement released today, the UK central bank confirmed that alternative tier 1 (AT1) bondholders would be prioritised over shareholders [...]
Strong performance on price of Bitcoin after stablecoins recover peg and staked Ether withdrawals near March 20, 2023 Data from CryptoCompare shows that the price of Bitcoin surged from around $22,000 at the beginning of last week to now change hands above the $28,000, with the cryptocurrency market having outperformed other assets over the last few days. Ethereum’s Ether, the second-largest cryptocurrency by market cap, moved similarly to BTC, jumping from around $1,580 [...]
Over 100 Met Police officers facing abuse claims are still working, new data reveals March 20, 2023 More than 100 Metropolitan Police officers facing probes into domestic or sexual abuse accusations are still working as normal, it has emerged. Of the 548 officers facing investigations over claims of domestic or sexual abuse or both, 144 of these officers are still doing their everyday duties, according to data obtained via a Freedom of [...]
RMT: Rail union workers accept pay offer as end of strikes on horizon March 20, 2023 Members of the RMT in Network Rail have voted overwhelmingly to accept an offer to end the long-running dispute over pay, jobs and conditions. In a turnout of nearly 90%, members voted by 76% to 24% in favour, signalling an end to the bitter row, which led to a series of strikes in recent months. [...]
‘No limits friendship’: Why is China premier Xi in Moscow – and can he help end Russia’s war in Ukraine? March 20, 2023 Chinese leader Xi Jinping has arrived in Moscow on a three-day visit that shows off Beijing’s new diplomatic swagger and offers a welcome political lift for Russian President Vladimir Putin as the fighting in Ukraine slows to a grinding war of attrition. China and Russia have described Mr Xi’s trip as part of efforts to [...]
Now the BBC has told staff to delete TikTok from any corporate devices March 20, 2023 The BBC has urged staff to delete TikTok from any corporate devices unless they are using it for editorial and marketing reasons. Guidance sent to staff at the broadcaster on Sunday, as first reported by Deadline, said: “We don’t recommend installing TikTok on a BBC corporate device unless there is a justified business reason. If [...]
Banking crisis: Thousands of City jobs at risk with UBS set to ‘downsize’ Credit Suisse investment bank division March 20, 2023 Thousands of jobs in the City are at risk after UBS’s dramatic acquisition of Credit Suisse last night, with Credit Suisse’s investment banking division at the heart of discussions. The Swiss banking stalwarts employ some 11,000 people in London, including a high concentration of their investment banking units which were already facing potentially hefty job [...]
