Superyacht sales return as more billionaires splash out November 9, 2021 Superyacht sales are on the rise, coinciding with a growing number of billionaires able to splash out on the luxury cruisers, according to reports. The superyacht industry has this year significantly outperformed “any of the last 12,” superyacht brokers Fraser Yachts told The Times, which first reported the news. One possible reason for the rebound [...]
UK audit reforms and governance to be watered down after business backlash November 9, 2021 The UK’s reform package to overhaul corporate governance and auditing will be “scaled back” following pushback by businesses, according to reports. Officials working on the plans, which are being finalised, are expected to water down some of the proposals, the Financial Times reported. The reform package, which has been touted as the biggest overhaul to [...]
Firms called on to ban social media influencers promoting nicotine products November 8, 2021 A coalition of over 100 global health and anti-smoking groups have called for companies to stop social media influencers promoting nicotine products, according to reports. Following a swathe of endorsements by social media influencers of a type of flavoured nicotine pouch, produced by British American Tobacco (BAT), the group wrote a letter to the chief [...]
Australian treasury accused of pressuring ex-KPMG partner to omit $10bn gap in report November 8, 2021 A former KPMG partner has claimed he lost his job after being pressured by an Australian public servant to change a document that found a $10bn gap in the Treasury’s finances, according to reports. In a parliamentary hearing today, Brendan Lyon said he received “professional, ongoing attacks,” from public servants and that the Australian treasury [...]
Norton Rose Fulbright joins junior lawyer pay war with salary raise to £95k November 8, 2021 Norton Rose Fulbright will increase pay for newly qualified lawyers by 12 per cent, as it joins the clamour for fresh legal talent, according to reports. The law firm announced a new “compensation strategy” which rewards new junior lawyers with an additional £10,000 a year, bringing their annual salary to £95,000, according to Legal Cheek, [...]
Whistleblowing reports of minimum wage violations fall thanks to furlough scheme November 8, 2021 The number of whistleblowers reporting businesses for breaking national minimum wage laws has dropped to its lowest in four years, with the furlough scheme considered a key driver of the change. Whistleblower reports of national minimum wage (NMW) violations fell to 2,488 over the year, down from 2,580 last year, according to law firm Pinsent [...]
Supermarket fridge doors could save 1 per cent UK electricity use November 7, 2021 Putting doors on fridges in the top five supermarkets in the UK could cut the nation’s total electricity usage by 1 per cent, according to reports. The Environmental Investigation Agency, an international NGO, said supermarkets could save up to a third on their own electricity bills too, according to the BBC which first reported the [...]
Credit Suisse chair Antonio Horta-Osorio says largest investors back bank overhaul November 7, 2021 Credit Suisse chairman Antonio Horta-Osorio has today revealed that the six largest investors of the bank back its newly announced strategy, according to reports. “We are in close contact with our shareholders – in particular the six largest, who together own around 30 per cent of the capital,” Horta-Osorio told Swiss newspaper NZZ am Sonntag, [...]
Channel 4 privatisation plans delayed amid growing backlash November 7, 2021 The proposed sale of Channel 4 has met delays after the new culture secretary Nadine Dorries was inundated by a spate of opposition against the move, according to reports. Around 60,000 submissions related to the sale of Channel 4, which is state-owned but independently funded through advertising revenue, were sent to the government, according to [...]
State Street denies bank staff must get special approval to hire white men November 7, 2021 Investment bank State Street tonight forced to push back against reports it will insist managers get special approval to hire white men over female or minority candidates. The bank wants to triple the number of black, Asian and other minority staff in senior roles by 2023 and has mandated lower bonuses for execs if they do not hit [...]
