More strikes incoming: Union to ballot over Royal Mail postman pay row June 21, 2022 The union representing staff at Royal Mail have said they will hold a ballot that could lead to even more strike action over pay, adding to the rail and tube mayhem seen this week.
Value of litigation funders’ war chests hits record highs as investors seek to bankroll UK class actions June 20, 2022 THE value of UK litigation funders “war chests” has hit record highs of £2.2bn, as investors are increasingly bankrolling class-action lawsuits in a bid for higher returns. The value of assets held by third-party litigation funders, for use in bankrolling cases, has increased ten-fold over the past decade, having doubled in the past three [...]
Unilever shareholder accuses firm of concealing Ben & Jerry’s Israel boycott June 16, 2022 A Unilever shareholder has sued the firm over claims it hid the decision by its subsidiary Ben & Jerry’s to pull out from Israeli-occupied Palestinian territories.
Apple to face £768m lawsuit over claims iPhone update slowed down devices June 16, 2022 Apple is set to face a £768m class action lawsuit over claims it misled iPhone users into downloading updates that slowed old iPhones down. Campaigner and consumer champion Justin Gutmann has filed a claim to the competition appeals tribunal, seeking around £768m in damages for up to 25m British iPhone owners. The lawsuit comes after [...]
Uber calls on rivals to offer employment benefits as Bolt faces trade union lawsuit June 15, 2022 Uber has called on its rivals to give drivers employment benefits, after one of the UK’s biggest unions said it is taking legal action against ride-hailing app Bolt over its lack of workers’ protections. Britain’s third largest trade union, GMB, is set to file legal proceedings against Bolt, in a bid to force the Estonian [...]
Royal Mail boss says prices are ‘under review’ as firm faces union battle June 15, 2022 The boss of Royal Mail has said he will keep costs “under review” as the firm struggles to balance the cost of living crunch with rising union action. Speaking to Sky News earlier today, Simon Thompson explained that his team was “not immune” to the cost of living crunch, acknowledging the Communication Workers’ Union (CWU) threats of [...]
Google settles lawsuit for $118m over claims it ‘systematically’ underpaid female employees June 13, 2022 Google has agreed to pay $118m (£96m) to settle a class-action lawsuit brought forward by four of its former employees over claims the tech giant “systemically” underpaid 15,500 of its female employees. The Silicon Valley firm will also bring in an independent labour economist to analyse its pay practices to ensure female workers are not [...]
The government’s corporate audits reforms are lukewarm at best, shallow at worst June 13, 2022 In late May, the government gave more detail on how it plans to reform big corporate audits. Inappropriate audits have contributed to several significant corporate failures – including that of the late construction giant Carillion in 2018. The government has acknowledged this, producing a report which has since been the focus of a consultation. The [...]
Weekend read: The SPAC bubble is bursting, argues Syz Bank’s investment chief June 11, 2022 With monetary policies tightening, speculative bubbles are bursting one after the other. SPACs are no exception. As a reminder, a SPAC, or Special Purpose Acquisition Company, is a company with no operational activity – an empty shell – that raises funds on the stock market with the sole objective of making an acquisition or acquisitions. [...]
1 Minute Market Rundown – 10th June 2022 June 10, 2022 Trade the ExtremesCrypto Needs to Bounce SoonWhen to Buy the Dip? Yesterday saw a lesson on how not to act like a Central Bank from the ECB. In over 25 years of trading I have rarely seen a less impressive performance at a press conference than we got from Lagarde. The plan was clear. Tell [...]