Court gives 2m angry Brits the green light to claim £600m from BT September 28, 2021 A court has approved a £600m legal case against BT, on behalf of some 2m landline customers who claim they have been overcharged. The telecoms giant was investigated by Ofcom in 2017 for similar claims, which led to BT trimming future bills for those who felt short-changed. Director of Advocacy and Policy at Which?, Rocio [...]
Shareholder turbulence: EasyJet reigns slip from billionaire founder Stelios September 28, 2021 The founder of EasyJet, Stelios Haji-Ioannou, has reportedly lost his power to veto decisions made the board on behalf of the airline after he let his stake dwindle. The billionaire, who launched the budget airline 26 years ago, chose not to buy new shares in a rights issue following a takeover bid by rival Wizz [...]
Covid-19 supply chain hang ups and volatile weather spells trouble for coffee prices September 28, 2021 Coffee prices are nearing record highs and caffeine-addicts fear it could climb even higher as a result of coronavirus-related supply chain hang ups and volatile weather conditions in Brazil. Prices have often circled $1 per pound, but coffee futures doubled in late July, touching costs not seen since 2014, the LA Times first reported. Although [...]
UK leads the way in climate transparency ahead of COP26, says new report September 28, 2021 The UK is leading the way in climate transparency, according to new research, as over 70 per cent of energy and chemicals companies say they have publicly stated their climate impact targets. The research, by ICIS, found that the UK had the highest levels of transparency in comparison with the rest of Europe – with [...]
Judge rules in favour of Morrisons workers in £100m fight for equal pay September 28, 2021 Thousands of Morrisons retail staff are making progress with their £100m fight for equal pay following a new ruling at an employment tribunal. The ruling, by judge Davies at Leeds Employment Tribunal, confirmed that Morrisons’ shop floor workers can compare their pay with the supermarket giant’s distribution centre workers. The mostly female staff, both current [...]
Shares collapse for London-listed firm behind Southeastern train operations September 28, 2021 One of the companies behind Southeastern train operations, which the government took control of this morning, has had its share collapse nearly 25 per cent. Southeastern is operated by Govia, a joint venture between transport operators Go-Ahead (65 per cent) and Keolis (35 per cent). Go-Ahead’s shares plunged 24.98 per cent to 769p per share [...]
Vaccine competition: Sanofi shelves mRNA-based Covid jab work September 28, 2021 French pharmaceutical giant Sanofi has shelved plans for its own mRNA-based Covid-19 jab due to the vaccine-success and dominance of rivals Pfizer and Moderna. Instead, Sanofi is set to focus on a different coronavirus vaccine making approach with its British partner GlaxoSmithKline (GSK). It signals the growing weight of the companies, namely BioNTech-Pfizer, Moderna and [...]
City Moves: Who’s switching jobs in the Square Mile today? September 28, 2021 City A.M.’s Millie Turner provides a roundup of the most important hires and job moves across the City, every morning. Email citymoves@cityam.com to be featured. Aviva Investors Asset management firm Aviva Investors has promoted its former head of liquidity and securities finance as its new head of credit. Based in the capital, Caroline Hedges will lead teams across investment grade and high yield [...]
UK enters first round of talks for $9 trillion 11-country CPTPP trade bloc September 28, 2021 The UK entered its first round of negotiations with the 11 member states of the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP). The CPTPP, with a combined GDP of £9 trillion, would offer the UK access to some of the world’s fastest growing economies, including Japan, Australia, Canada and Chile. “Less than a fortnight [...]
UCL: Train commutes could make Londoners feel less stressed September 28, 2021 Train commutes can reduce stress and anxiety for Londoners, if used to mentally prepare for the day or decompress on the way home, according to a new study. The study, by the rail industry and the University College London (UCL), found that nearly half of commuters saw their mental health and motivation improve when they [...]