WH Smith de-risks pensions scheme via Standard Life insurance policy August 8, 2022 WH Smith on Monday said it had taken out a bulk annuity insurance policy with Standard Life, through which the Phoenix Group subsidiary will cover the costs of the retailer’s £1bn pension scheme. The high-street bookseller’s insurance policy will see Standard Life pay the pensions of the almost 13,000 members of WH Smith’s defined [...]
City of London workers lead wage growth as pay inequality worsens in UK August 8, 2022 Only the UK’s highest earners have been given inflation-busting pay rises so far this year, as the country’s lowest earners see pay growth ‘flatline’, according to the latest research. The highest earners, typically concentrated in the City of London among finance, professional and technical sectors, have seen annual pay growth of 10 per cent, while [...]
Sunak says Truss’ cost of living plan ‘won’t touch the sides’ August 8, 2022 Rishi Sunak has launched a fresh attack on leadership rival Liz Truss, saying today that her plan to make tax cuts next month won’t “touch the sides” for families facing a worsening cost of living crisis. Sunak said “bolder action” was required to “protect people from the worst of the winter” amid fresh predictions energy [...]
Aviva looks to settle investor nerves after share price slide August 8, 2022 Aviva shareholders are braced to see whether the insurance giant can regain some momentum this week after its share price has stalled in recent months to trade no higher than 30 years ago.
Investment should flow from our thriving pension market August 8, 2022 People from around the world come to use the UK’s financial markets to fund their ventures, build their economies and make a return. Yet, for years, the UK has been poor at turning this natural advantage into investment here at home. For example, the UK has the second largest pension pot in the entire world, [...]
Workers give Amazon until Wednesday to present improved offer after Tilbury strike August 7, 2022 Workers have given Amazon until Wednesday to present an improved pay offer after staff walked out last week over salaries, City A.M. understands. Around 450 workers at the Tilbury warehouse went on strike on Wednesday night and Thursday after Amazon responded to demands for a pay increase with a 35p per hour raise. Members of [...]
Tory leadership: Truss and Sunak pledge cost of living help worth billions August 7, 2022 Rishi Sunak and Liz Truss have pledged billions of pounds worth of cost of living help as Britons face down further inflation increases. Truss, the frontrunner to be the next Prime Minister, told The Telegraph she would rush through £30bn+ in tax cuts months earlier than planned to combat the expected increases in inflation in [...]
Warren Buffett’s Berkshire Hathaway books $43.8bn loss after slide on equity markets August 6, 2022 Warren Buffett’s Berkshire Hathaway was hit by the global rout on equity markets in the second quarter of the year as it booked a hefty $43.8bn loss.
Hundreds of Amazon warehouse workers continue walkout over pay August 4, 2022 Amazon workers at an Essex warehouse are walking out for a second day on Thursday, in a protest calling for a “drastic” pay improvement. On Wednesday night and Thursday, around 400 workers at the Tilbury operation walked out over the US tech giant’s offer of a 35p per hour pay offer. Workers in the GMB [...]
Van insurance premiums surge to record highs as inflationary pressures bite August 4, 2022 Van insurance premiums have surged to record highs, after increasing for six consecutive months in a row, due to soaring inflation and widespread price hikes in response to new rules banning the practice of “price walking”. The cost of insuring a van increased by 13.6 per cent during the first six months of the year, [...]