Tesco on the hunt to replace outgoing chairman John Allan December 10, 2022 Tesco is reportedly looking replace outgoing chairman John Allan, who is set to step down in 2024. Sources told Sky News’ Mark Kleinman that external headhunters had been appointed to help with the recruitment process. Byron Grote – former BP finance boss and non-executive director of the supermarket chain – will lead the search internally. [...]
Tributes flow in after death of former minister Lord Young aged 90 December 10, 2022 Social media tributes have flown in following the death of former businessman and Conservative cabinet minister Lord Young of Graffham aged 90. Lord Young – who served twice as secretary of state during the 1980s – was considered one of Margaret Thatcher’s right-hand men. He became secretary of state for employment in 1985 while two [...]
Rishi Sunak: Kremlin needs to leave Ukraine before any agreement considered December 10, 2022 The Kremlin will need to pull its forces out of Ukraine before any peace agreement can be considered, according to Rishi Sunak. Sunak and Ukrainian President Volodymyr Zelensky yesterday agreed on the importance of pre-empting Russia’s calls for a ceasefire. The PM – who met with the president for the first time since becoming prime [...]
Big Bang 2.0: Financial institutions welcome Jeremy Hunt’s Edinburgh reforms December 10, 2022 Leading financial institutions have welcomed Chancellor Jeremy Hunt’s Edinburgh reforms, which set out to “turbocharge” the UK’s growth. Announced yesterday, the plans aim to “seize the benefits of Brexit” by delivering the biggest shake-up in the financial sector for 30 years. According to UK Finance’s chief executive David Postings, the package is “a major step [...]
‘Carried away’: Kwasi Kwarteng admits Truss government ‘blew it’ over mini-budget December 10, 2022 Former Chancellor Kwasi Kwarteng has admitted that Liz Truss’s government “blew it” when it came to the economic reforms proposed in the mini-budget. “People got carried away, myself included,” he told the Financial Times. “There was a brief moment and the people in charge, myself included, blew it.” Kwarteng was ousted from government after he [...]
RMT doesn’t exclude chance of new tube strikes as members renew mandate December 8, 2022 The RMT has not excluded the chance of new strike action on the tube network as it received another six-month strike mandate from London Underground workers. General secretary Mick Lynch has urged London Underground and mayor Sadiq Khan to sit down with the union “so we can bring this dispute to a resolution.” “If a [...]
Virgin Atlantic’s boss calls Heathrow’s proposed price cap ‘unacceptable’ December 8, 2022 The row between Heathrow and its airport customers has reached a new high after Shai Weiss, the chief executive of Virgin Atlantic, called out the UK aviation regulator over the airport’s interim price cap. Weiss has accused the Civil Aviation Authority (CAA) of “putting the interests of a monopolistic airport and its shareholders ahead of [...]
Border Force strike: Suella Braverman warns Britons to ‘think carefully’ about Christmas plans December 8, 2022 Home secretary Suella Braverman has warned Britons going away for the festive period to “think carefully” about their Christmas plans. Braverman’s remarks come after Border Force staff at several UK airports – including Heathrow and Gatwick – announced their plans to strike for eight days, between 23 and 26 as well as 28 and 31 [...]
CMA slaps BMW with fine for not complying with probe request December 8, 2022 The Competition and Markets Authority has slapped BMW with a £30,000 fine for not complying with an information request. The watchdog – which has also added a daily penalty of £15,000 – believes the German marque is withholding information regarding a probe from earlier this year. Launched in March, the investigation focused on suspected anti-competitive [...]
Ryanair: O’Leary’s contract extended until 2028 as £86m bonus still on cards December 8, 2022 Ryanair’s boss Michael O’Leary has seen his contract extended until July 2028, in a deal that could make him earn up an extra €100m (£86.3m). Chairman Stan McCarthy said the contract extension was reached following “extensive engagement with large shareholders and proxy advisors,” but will still be subjected to shareholder approval. As part of his [...]
