Union to ballot 150,000 civil servants on plans for public sector strike September 26, 2022 The public sector workers’ union is set to ballot more than 150,000 civil servants on plans to strike over pay and working conditions. The Public and Commercial Services Union (PCS) said it is urging its members in 214 government departments to vote in favour of taking industrial action, after the UK government set out plans [...]
Jupiter to sell £100m stake in Starling Bank at steep discount on April valuation September 22, 2022 FTSE 250 asset manager Jupiter is in advanced talks to sell a £100m stake in Starling Bank at a heavy discount on its most recent valuation of £2.5bn. Jupiter Fund Management is in talks with several of the challenger bank’s existing investors, with a view to offloading a seven per cent share in the firm, [...]
Plane crash victims seek £750m damages from insurers via High Court lawsuit September 22, 2022 Survivors of a plane crash that killed 71 people have filed a High Court lawsuit against insurers Aon and Tokio Marine Kiln seeking $844m in compensation over the 2016 disaster that caused the deaths of 19 members of Brazil’s Chapecoense football team. Victims of the 2016 LaMia crash that killed almost all of the [...]
UK’s new housing minister vows to crack down on ‘immoral’ insurance deals September 22, 2022 The UK’s new housing minister has vowed to crack down on “immoral” practices in the insurance sector that “drive up prices for consumers,” after tower block leaseholders were hit with surging premiums in the wake of the Grenfell tower disaster. In a comment piece in The Telegraph, Housing secretary Simon Clarke said his department [...]
Lawyers welcome plans to boost arbitration laws to secure London’s status as leading disputes hub September 22, 2022 Lawyers have welcomed the Law Commission’s plans to amend the Arbitration Act 1996 with a view to strengthening the UK’s position as a “leading destination” for commercial disputes. The Law Commission’s plans aim to boost the cost savings, efficiency, and confidentiality benefits arbitration has over litigation, by strengthening the powers of arbitration tribunals and streamlining [...]
Addleshaw Goddard signs lease on larger London offices September 22, 2022 Addleshaw Goddard has signed a 15-year lease on new offices at the heart of London’s financial centre in a vote of confidence in the City. The City law firm is set to leave its Milton Gate offices near the Barbican for the newly refurbished 41 Lothbury building, opposite the Bank of England. Addleshaw Goddard is [...]
TfL confirms Byford’s departure as COO Lord steps in on interim basis September 22, 2022 TfL has confirmed the departure of commissioner Andy Byford at the end of October as current chief operating officer Andy Lord steps in on an interim basis. Byford said he will leave the network and move back to the US, where he lived and was New York City Transit’s president. Announced today, Byford’s resignation comes [...]
Link faces £50m fine over Woodford fund’s collapse September 21, 2022 The UK firm that managed Neil Woodford’s flagship investment fund is facing a £50m fine over its running of the fund before its collapse in 2019. The UK’s Financial Conduct Authority (FCA) has issued a draft warning notice against Link Fund Solutions Ltd (LFS) indicating it could be forced to pay £306m in costs and [...]
Suez strikes £1.75bn deal to buy back UK waste management from Veolia September 21, 2022 French utility Suez SA has struck a €2bn (£1.75bn) deal with Veolia Environment to buy back the UK waste management business it agreed to sell off to its rival last January. Suez has scuppered Macquarie’s bid to buy the British unit after the Australian asset manager struck a deal to acquire the UK business for [...]
UK government to open negotiations with striking barristers following ‘constructive’ meeting September 21, 2022 The Criminal Bar Association (CBA) has said it will call off a demonstration, planned for this Thursday, following an introductory meeting with the UK’s new justice secretary Brandon Lewis. In a joint statement, the CBA and Bar Council said the introductory meeting had been “constructive” as the barrsiters’ trade bodies said “detailed conversations now will [...]
