McLaren winning Constructors’ Championship shifts tectonic plates of F1 December 10, 2024 At first glance Formula 1 might look like a billionaire boys’ club, where the cash reserves are endless and the supplies infinite. And to a large extent, that’s true. But the motorsport series has a budget cap now which was introduced to level the playing field, to allow challenger teams to take on the might [...]
Fugitif can escape with December’s Gold Cup December 10, 2024 WE’RE back at the home of the Jumps this week as Cheltenham hosts its two-day Christmas Meeting. While there’s some good racing on Friday, Saturday’s card makes more appeal at this stage from an ante-post perspective and the big handicap, the December Gold Cup (1.50pm), is definitely a race to focus on. This is the [...]
Change in business rates could cost firms millions, research finds December 10, 2024 A number of sectors could be hit with hundreds of millions of pounds in extra business rates due to “poorly thought-out legislation”, according to new research. The analysis, conducted by property consultancy Colliers, highlighted the impact that the new business rates legislation proposed by the Labour government could have on larger retailers and hospitality businesses. [...]
Private clubs and boarding schools: Abu Dhabi’s plan to attract ultra-wealthy December 10, 2024 Abu Dhabi is targeting the ultra-wealthy with private clubs, elite schools, and revamped banking, aiming at those considering leaving the UK
Thames Water chief defends bonuses after firm posts £190m loss December 10, 2024 Thames Water’s chief executive has been forced to defend senior executives receiving £770,000 worth of bonuses after the beleaguered water company swung to a loss of £190m and a 40 per cent rise in pollution incidents in its first-half results. Chris Weston said the company had to offer staff “competitive packages” if it was to [...]
Bumper pay day for Britvic boss ahead of £3.3bn Carlsberg deal December 10, 2024 The chief executive of Robinsons squash maker Britvic has received a bumper pay day ahead of the group’s £3.3bn takeover by Carlsberg. Simon Litherland has been handed a £4.68m pay packet, up from the £2.86m he received in the prior year and £1.93m in the 12 months before that. The total is the highest Litherland [...]
Harrods: Christmas strikes set for crisis-hit department store December 10, 2024 Harrods, the crisis-hit iconic London department store, is braced for another blow as hundreds of workers voted to strike over the critical Christmas period. Employees represented by the United Voices of the World (UVW) union will walk out from 8pm on Friday, 20 December, to Sunday, 22 December, and again from 12am on Boxing Day [...]
Keep airlines’ record $1trn revenue in perspective, says former British Airways chief December 10, 2024 The global airline industry is expected to make $1trn (£783.7bn) in revenue for the first time in its history next year, as passenger demand continues to break records in the post-Covid era. The International Air Transport Association (IATA) on Tuesday forecast annual traffic would reach another all-time high of around 5bn, despite supply chain issues [...]
Easyjet: Golden goodbye for departing CEO Johan Lundgren December 10, 2024 The departing chief executive of Easyjet has been handed a golden goodbye to the tune of almost £3m ahead of stepping down next month. Johan Lundgren has pocketed £2.88m ahead of handing over to Kenton Jarvis in the New Year. The pay packet is up from the £2.19m Lundgren received in the prior year. The [...]
Credit ratings agency tips more top football clubs to ‘do a Tottenham’ December 10, 2024 More European football clubs will follow Tottenham Hotspur’s lead by investing in stadiums as broadcast revenues plateau, credit ratings agency Morningstar DBRS has forecast. After decades of strong growth, most top leagues have seen a fall or only marginal increases in the value of their TV contracts – the source of the majority of their [...]