M&S shareholders rebel over outgoing boss Steve Rowe bonanza £1.6m bonus at AGM July 5, 2022 A significant minority of M&S shareholders protested a £1.6m bonus payout to former top boss Steve Rowe at the supermarket’s AGM on Tuesday. After the digitally-held meeting, the grocer said all its resolutions had been approved “with substantial support,” with some 70 per cent of votes in support of its remuneration policy. Some critics had [...]
Forklift maker Manitou infringed JCB’s patent, UK High Court rules July 5, 2022 French forklift manufacturer Manitou infringed JCB’s intellectual property rights through its use of patented stability control systems in its “telehandler” machines, a UK High Court has said. The British heavy vehicle manufacturer is now seeking costs and damages from Manitou, after the court said the French firm infringed JCB’s patent by using patented safety control [...]
Euro tumbles to 20-year low against the dollar on rising recession risk July 5, 2022 The euro has tumbled to its lowest level against the dollar in two decades caused by investors ditching European assets on fears the bloc will tip into recession soon. The currency used by 19 European countries – soon to be 20 when Croatia joins the union next January – fell around 1.3 per cent against [...]
Clamp down on ‘rogue pension providers’ preventing transfers, PensionBee boss tells ministers July 5, 2022 The boss of fintech firm PensionBee has called on the government and regulators to clamp down on “rogue providers” preventing the transfer of pension pots, as ministers prepare to assess the impact of freedoms granted to retirement savers seven years ago.
Whiskas and Pedigree owner halts supplies of pet foods to Tesco in latest price dispute July 5, 2022 Tesco shoppers looking for pet food brands Whiskas and Pedigree have been left disappointed after supplies were paused in another price row involving the UK’s largest grocer. The supermarket explained empty shelves by arguing it had refused to “pass on unjustifiable price increases” to its shoppers, The Guardian reported. In images posted by Steve Dresser, [...]
French music streamer Deezer drops 35 per cent at debut July 5, 2022 Shares in Deezer have plunged over 35 per cent in the French music streamer's first day of trading as the markets struggle to see how it can compete with the likes of Apple Music and Spotify.
Nigeria blocked from appealing High Court’s £1.4bn JP Morgan ruling July 5, 2022 A High Court has blocked the Federal Republic of Nigeria from appealing the court’s decision last month to dismiss its $1.7bn (£1.4bn) claim against JP Morgan, over claims the bank acted negligently by paying $875m into a bank account linked to a convicted money launderer. The High Court said Nigeria had “no real prospect” of [...]
Shell teams up with Qatari energy giant for world’s largest LNG project July 5, 2022 State-backed QatarEnergy has selected Shell as partner for the single largest project in the history of the LNG industry.
Back to school: M&S freezes school uniform prices as retailer battles to entice cash strapped shoppers July 5, 2022 M&S has frozen its prices on school uniform this summer as households face tightening budgets amid historic rates of inflation. The premium retailer also said it was introducing a 20 per cent off deal for back to school shoppers this month. The retailer – which was set to hold its annual general meeting for shareholders [...]
BA axes ANOTHER 1,500 flights over summer period to cope with travel mayhem July 5, 2022 British Airways (BA) is axing an additional 1,500 flights this month to guarantee smoother operations amid the ongoing travel mayhem. The airline today trimmed its cancellation forecasts by 1 per cent, after in May it announced it was reducing its April to October schedule by 10 per cent, around 8,000 flights. “As the entire aviation [...]
