Staff at British banks ‘forced to turn off NHS Covid tracing app at work’ October 8, 2020 Branch staff at some of the UK’s biggest banks say they are being put at risk by rules that require them to keep their phones in lockers at work, leaving them unable to use the NHS Covid-19 contact tracing app. Lloyds and TSB are among the lenders advising employees in branch to deactivate the contact [...]
Retail sales dip in November despite discounting December 19, 2019 Retail sales dipped last month as UK shoppers showed signs of “discount fatigue” in the run up to Black Friday and Cyber Monday. The amount spent in the three months to November dropped 0.3 per cent compared to the previous three months. Read more: Are there any signs retailers could be in for a merry [...]
Skills in the City: financial services sector looks to the future October 18, 2021 To what extent should organisations that compete fiercely to attract new recruits (and for business overall) be collaborating when it comes to enhancing their workforces’ skillsets? It’s tricky to imagine many of the Square Mile’s biggest names freely sharing their training programmes outside their own four walls. ‘Sure, we’ll just send you what we do [...]
Extinction Rebellion co-founder arrested after attacks on Canary Wharf banks May 11, 2021 Extinction Rebellion co-founder Gail Bradbrook was arrested at her home this morning for conspiracy to cause criminal damage and fraud after her group attacked banks in Canary Wharf. Activists from Extinction Rebellion smashed the window frontage of HSBC and Barclays last month. They have also targeted Lloyd’s of London, where they dumped fake coal outside [...]
Bank of Scotland fined £45m for failing to report HBOS fraud June 21, 2019 Bank of Scotland has been hit with a £45.5m fine for failing to report suspicions of fraud at its Reading branch. The Financial Conduct Authority (FCA) said there was “insufficient challenge, scrutiny or inquiry across the organisation and from top to bottom”. Read more: Lloyds bank avoids shareholder revolt over pension pay The bank identified [...]
Ashtead slashes pension entitlements for top execs August 4, 2019 FTSE 100 plant hire firm Ashtead has axed pension entitlements worth up to 40 per cent of salary for its senior executives as pressure grows on UK public companies to cut excessive pension packages. Ashtead has cut pension perks for its senior staff from up to 40 per cent of salary to a maximum 15 [...]
Square Mile lockdown: City firms plot staff’s return to work May 14, 2020 City banks and professional services firms are drawing up plans to send staff back to the office as the UK begins to ease its coronavirus lockdown. Earlier this week Prime Minister Boris Johnson announced that people who can work from home should continue to do so, as he laid out guidance to make workplaces “Covid-secure”. [...]
Pay cut for FTSE 100 bosses after investors ramp up pressure August 21, 2019 FTSE 100 chief executives’ pay packets have dropped sharply according to new figures published this morning, with investors claiming victory in their efforts to impose discipline on remuneration committees. Blue-chip CEO median pay fell 13 per cent from £3.97m in 2017 to £3.46m in 2018, the most recent year for which data is available. In [...]
TSB’s IT boss ‘kept board in dark’ ahead of tech meltdown November 17, 2019 TSB Bank’s head of IT reportedly failed to warn board members about “shortcomings” with the testing of a new technology system days before it suffered a huge meltdown. TSB is facing a lengthy investigation by City law firm Slaughter and May into the botched rollout of a new IT system that caused nearly 2m customers [...]
CMA: UK businesses have until New Year to clean up greenwashing claims September 20, 2021 The UK’s competition watchdog has today given British businesses a deadline of the end of the year to resolve any misleading green marketing claims – so-called “greenwashing” – to avoid regulatory action. At the beginning of 2022, the UK’s Competition and Markets Authority (CMA) will carry out a full review of the environmental declarations made [...]