General Electric shareholders reject CEO’s mammoth $73.2m pay package May 4, 2021 A majority of shareholders at General Electric have rejected pay packages for senior officers, including CEO Larry Culp, who was set to receive a package worth $73.2m for 2020. Nearly 58 per cent of shareholders rejected GE’s pay packages, a strong rebuke to executives of the industrial company, which is in the middle of a [...]
Central Line strike planned for election day suspended as union officials hold talks with Tube bosses May 4, 2021 A Central Line strike planned to coincide with the Mayoral election this week has been suspended. The Rail, Transport and Maritime (RMT) union had previously called for industrial action following the “victimisation” and subsequent sacking of tube driver, and union rep, Gary Carney. However, today union bosses told members at Leytonstone, Loughton, West Ruislip and [...]
FTSE ends day with slump as Wall Street’s Nasdaq plunges nearly three per cent May 4, 2021 The FTSE 100 slipped back below the 7,000 point mark by the market close, despite a strong start to the week’s trading after the Bank Holiday weekend. The blue-chip FTSE 100 index fell 0.67 per cent by the end of the day, with banking stocks, including HSBC Holdings, Barclays and Standard Chartered posing the biggest drag on [...]
Brussels recommends member states block UK from Lugano Convention May 4, 2021 The EU Commission has recommended that the EU does not give consent for the UK to join the Lugano Convention, an international legal pact. In an update today, the EU Commission said the Convention was designed to support third countries with particularly close regulatory integration with the EU, including being aligned with part of the [...]
Activists urge Blackrock and Vanguard to vote against Exxon CEO over climate concerns May 4, 2021 Climate activists have bombarded Exxon Mobil’s top shareholders with calls and emails, urging them to vote against the reelection of chief exec Darren Woods and lead independent director Kenneth Frazier at an upcoming shareholder meeting. Blackrock and Vanguard Group hold more than 13 per cent of Exxon share combined. Exxon is currently embroiled in battle [...]
Goldman Sach’s London employees to return to the office by 21 June May 4, 2021 Goldman Sachs employees in the UK will return to the office by 21 June, in line with the government’s easing of lockdown that should see the UK largely restriction-free. In an internal memo circulated among staff, and seen by City A.M., chief executive David Solomon said: “We know from experience that our culture of collaboration, [...]
Serious Fraud Office ends investigation into Airbus individuals May 4, 2021 The Serious Fraud Office (SFO) has ended a criminal investigation into individuals associated with Airbus, after it agreed to a record €3.6bn global settlement 16 months ago. Three sources familiar with the investigation told Reuters the SFO had written to former suspects to say it would take no further action. Overseas prosecutors could, however, take [...]
Exclusive: Sadiq Khan confident ‘boomerang Londoners’ will return post-pandemic May 4, 2021 Sadiq Khan has said he is confident that most of the estimated 700,000 foreign-born workers who have left London since the end of 2019 will return as the UK sheds its Covid restrictions. Khan told City A.M. in a long-ranging interview, to be released in full later today, that these were “boomerang Londoners” who would [...]
India to take back illegal migrants in return for more UK visas May 4, 2021 The UK and India today reached an agreement on migration and mobility between the two countries as they looked to deepen economic ties following Brexit. The pact will provide more employment opportunities for 3,000 young Indian professionals annually, in return for the country agreeing to take back its citizens who are living illegally in the [...]
Ex-Irwin Mitchell duo set up London boutique employment firm May 4, 2021 Former Irwin Mitchell partners Emilie Cole and Shazia Khan have launched a boutique law firm specialising in employment and professional discipline law. The firm, Cole Khan, is located in Chancery Lane, London’s legal heartland, across the road from the Law Society. Currently the firm is all-female, with just the founding partners, though it is looking [...]
