Coming or going? Aviva the latest to cut office space as rival bosses say ‘remote working can’t last’ March 4, 2021 Aviva the latest to cut office space as rival bosses say 'remote working can't last'
FTSE 100 pares gains as investors split on Sunak’s Budget March 3, 2021 The FTSE 100 pared some of its gains after today’s Budget, as investors reacted to a combination of further business support and future tax hikes. Having been up 1.2 per cent by the mid-morning, London’s blue chip bourse fell back to 6,639 points, up 0.4 per cent. Read more: Budget 2021: Live news and updates [...]
Blackstone founder took home $610m during the pandemic March 2, 2021 Blackstone boss Stephen Schwarzman’s salary swelled 20 per cent last year as he took home $610m from dividends and compensation. The majority of the pay package stemmed from Schwarzman’s 19.3 per cent stake in Blackstone after the firm’s distributable earnings jumped 16 per cent year-on-year. The private equity boss received $86m in compensation with $524m [...]
18 energy suppliers pay out £10.4m for overcharging customers March 2, 2021 Ofgem has this morning charged 18 energy suppliers, including British Gas, Shell, and Scottish Power, a combined £10.4m for overcharging their customers. In total, over 1m customers were wrongly charged £7.2m for firms’ failures to correctly protect customers’ tariff prices when they decided to switch supplier or tariff. The watchdog said that most of the [...]
Barclays faces fresh shareholder showdown over fossil fuels ahead of COP26 March 2, 2021 Barclays faces a second consecutive year of shareholder pressure on its position as Europe’s largest fossil fuel financier, after a shareholder resolution has been filed for the bank’s upcoming AGM on 5 May. The resolution calls for financing and exposure to coal, oil and gas to fall in line with the Paris Agreement’s climate goals. [...]
Hedge fund tycoon Sir Chris Hohn pockets £343m in record payday March 1, 2021 Hedge fund billionaire Sir Chris Hohn paid himself £343m ($479m) last year in what is believed to be the UK’s largest ever annual pay packet. The tycoon took home the record wage after his Children’s Investment Fund (TCI) booked pre-tax profit of $695m, up from $420m the previous year. The bumper salary, paid for the [...]
Brits are suffering from home working ‘fatigue’, says Canary Wharf boss March 1, 2021 Brits are ready to return to the office because a year of working from home has left many “fatigued”, a top executive at Canary Wharf Group has said. Howard Dawber, head of strategy at the property giant, said that while working habits may change after the pandemic, people are missing office and city-centre life. “We’ve [...]
London has a new vermouth company just in time for summer March 1, 2021 London now has its own vermouth label, producing three very Home Counties vermouths. The new London Vermouth Company, set up by three life-long friends – Guy Abrahams, Andrew Wealls and Ben Leask – worked with recipe and drinks developer Camille Hobby Limon to produce their No.1 Amber Limon and No.2 Camille’s Red vermouths. The No.3 [...]
Bank of Ireland to shut 103 branches as digital shift reaches ‘tipping point’ March 1, 2021 Bank of Ireland has announced it will close 103 branches across the island as the bank shifts to a digitally driven service. The closures are part of a cost cutting initiative which will shut 15 of its 28 branches currently operating in Northern Ireland. In August, the bank said it was aiming to cut 1,400 [...]
PM says remote working won’t be the new normal February 26, 2021 PM Boris Johnson said Britain is not facing a new age of remote working. In a video message today Johnson said British people would be “consumed again” by wanting to meet people in person once the economy reopens, and that this would have clear benefits for business. He added people will be commuting to city [...]