A four day week relies on a near universal acceptance of a transformed workforce February 3, 2022 It is easy to forget how recent the five-day working week is. In fact, it was first piloted in the US in 1908 and not widespread until the late 1920s, so it is under a century old. But so ingrained is it that recent news that 30 companies – including Canon’s UK arm – are [...]
US law firms return to the office blocked by Omicron variant January 31, 2022 Law firms’ plans to return to offices have been scuppered by the spread of the omicron variant in the US. Several US law firms have postponed plans to return to offices until February, having originally planned for a January return. The delays come as the highly-infectious omicron variant continues to spread through the US, despite [...]
Competition watchdog launches first phase of Morrisons takeover probe January 27, 2022 The Competition and Markets Authority (CMA) launched the first phase of its probe into the takeover of Morrisons by a US private equity giant today. The £7bn deal, which was completed in October, saw Clayton, Dubilier & Rice Holdings (CD&R) remove Morrisons from the London Stock Exchange. The move prompted the CMA to order the [...]
Morrisons denies that hunt has started for new CEO after private equity takeover January 24, 2022 Sources close to Morrisons have denied that the supermarket has started the hunt for a new chief executive in the wake of its £7bn takeover last year. The private equity firm behind the supermarket, Clayton, Dubilier & Rice (CD&R), was reported to have started looking for someone to replace David Potts. The Sunday Times newspaper [...]
City Moves: Who’s switching jobs in the Square Mile this week? January 20, 2022 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. 11:FS Challenger consultancy 11:FS has bolstered its global advisory team with a new senior financial services executive. Maurício Magaldi, who has previously worked at IBM and HSBC, will help fintech firms and banks build their cryptocurrency strategies. “I’m thrilled [...]
AA goes against vaccine sceptics, slashing sick pay for unvaccinated staff January 19, 2022 The AA is slashing extra sick pay for unvaccinated staff that needs to self-isolate following a Covid contact. In an email sent to its 7,000 workers, the AA said that unvaccinated workers who don’t have a medical exemption, will not get sick pay if they have to quarantine, the Telegraph first reported. “All staff who [...]
The world in 2022: a map to global politics January 19, 2022 In 2022 the fault lines of global politics will be tested again. City A.M. and the British Foreign Policy Group chart the year ahead. If the pandemic taught us anything, it is the deep ramifications that one country’s domestic politics have globally. From the future of the French President to continual Chinese aggression, here we [...]
Motor Fuel Group’s owner kicks off £5bn selling plans January 18, 2022 Motor Fuel Group’s (MFG) owner Clayton Dubilier & Rice (CD&R) has kicked off plans to sell the UK’s biggest independent forecourts operator, Sky News first reported. The private equity firm CD&R has invited this week investment banks to bid for a mandate to sell the company, which could be valued at £5bn. The forecourts operator’s [...]
Australia cancels Novak Djokovic visa as minister tells tennis star to get out January 14, 2022 News is coming in from down under is coming in that Novak Djokovic has had his Australian visa cancelled for a second time. The world number one had been waiting since a judge overturned the original decision on Monday to find out whether Immigration Minister Alex Hawke would use his powers to reimpose the penalty. [...]
Novak Djokovic drawn against fellow Serb Miomir Kecmanovic in Australian Open but visa uncertainty continues January 13, 2022 Earlier this morning Novak Djokovic was drawn against fellow Serb Miomir Kecmanovic as uncertainty continued over whether he will be allowed to compete in the Australian Open. It appeared a decision from Immigration Minister Alex Hawke could be imminent when the draw was postponed from 3pm (4am UK) at the last minute and without explanation. [...]