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Wednesday, July 21, 2021
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21 Jul 3:46pm Best-paid gig in town rains down £12m a head – but are the non-exes still independent?
The Guardian
Yet more millionaires in the City thanks to an IPO may be normal, but Bridgepoint’s signing-on bonuses jar with scrutiny duty Some 166 millionaires were created in the City on Wednesday. Well, strictly speaking, the fortunes of the investment professionals at the private equity firm Bridgepoint were not “created” in a single stroke. Rather, the act of listing the firm on the stock exchange crystallised the value of shares they already owned and allowed them to flog a few. But, however you view the numbers in this £2.88bn flotation, or IPO, they illustrate how private equity is challenging investment banking for the status of best-paid gig in the financial game.
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21 Jul 2:50pm Owners of low-rise flats freed from wall safety certificate need
The Guardian
Ministers alter post-Grenfell tower fire safety guidance, covering cladding, to ease property sales Ministers have sought to ease the difficulties of thousands of owners of flats trapped in properties they cannot sell or remortgage by changing advice on fire safety paperwork on lower-rise blocks, a requirement introduced after the Grenfell tower blaze. In a statement released at the same time as a Commons debate on
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21 Jul 2:46pm Archie Norman receives £1.75m fee to join board of private equity firm
The Guardian
Newly floated Bridgepoint will also pay M&S chairman £200,000 a year in remuneration for role The chairman of Marks & Spencer, Archie Norman, has received a fee of £1.75m to join the board of Bridgepoint, the newly floated private equity company. Bridgepoint only revealed the large payments to Norman and other new directors on Wednesday deep into a prospectus document detailing the company’s initial public offering (IPO), which has taken advantage of
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21 Jul 2:01pm Iceland aims to recruit 2,000 staff due to ‘pingdemic’ absences
The Guardian
Retailer says some outlets has been forced to close after more than 3% of staff has been asked to self-isolate Grocery chain Iceland is aiming to recruit 2,000 spare staff to help cover absences caused by
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21 Jul 1:50pm London office life not likely to return to pre-Covid practices, NatWest chair says
The Guardian
Howard Davies says he expects lasting cultural changes after end of pandemic The chair of NatWest, one of Britain’s biggest banks, has said office life in London is unlikely ever to return to how things were before the coronavirus pandemic. Howard Davies said he expected lasting cultural changes even after the danger from the virus receded. “The days when 2,500 people walked in through our office door on Bishopsgate at 8:30 and then walked out again at 6 o’clock, I think that is gone. I suspect there won’t be that many people who will be doing five long days in the office.”
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21 Jul 12:47pm Ready, set, go: leisure centres plan to jump back in business after pandemic closures
The Guardian
Trampolining and go-karting site Gravity will open 100,000sq ft venue in former Debenhams Lights blink along a sinuous race track which swoops past a Japanese-themed bar and food stall into Debenhams Wandsworth’s former beauty hall. Gravity – which already runs 17 leisure sites around the UK offering trampolining, rock climbing and rope-line activities – will open its biggest venue yet in the south London suburb.
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21 Jul 11:09am Updated FTSE 100 rebounds; UK debt costs rise; property transactions surge – business live
The Guardian
Rolling coverage of the latest economic and financial news
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21 Jul 7:21am BrewDog hit by £13m loss as bars close despite craft beer boom
The Guardian
Aberdeenshire-based firm reports revenues of £238m for the year, 10% higher than in 2019
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21 Jul 6:59am UK business leaders criticise government’s handling of ‘pingdemic’
The Guardian
Leading industry figures dismayed by confusion over need to self-isolate amid widespread staff absences
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21 Jul 6:29am The biggest win for the working-class in generations is within reach | Bernie Sanders
The Guardian
If our budget passes, it would be one of the most important pieces of legislation since the New Deal. But we must fight for it Now is the time. At a time when the gap between the very rich and everyone else is growing wider, when two people now own more wealth than the bottom 40% and when some of the wealthiest people and biggest businesses in the world pay nothing in federal income taxes, the billionaire class and large profitable corporations must finally start paying their fair share of taxes.
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21 Jul 6:15am Updated FTSE 100 rebounds as markets recover; UK debt servicing costs hit record – business live
The Guardian
Rolling coverage of the latest economic and financial news
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21 Jul 6:00am Uber and Lyft drivers to join day-long strike over working conditions
The Guardian
Workers for app companies call for better wages and protections for those seeking to unionize Hundreds of Uber and Lyft drivers will join with other app-based workers across the US for a day-long strike on Wednesday to protest against poor working conditions and demand the right to organize. The workers are calling for better wages and congressional support of the Pro Act, a
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21 Jul 6:00am Bank of England admits shortcomings in promoting diversity
The Guardian
Governor Andrew Bailey promises increased focus on inclusion after critical review
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21 Jul 6:00am I am going to make the Bank of England better by improving racial diversity | Andrew Bailey
The Guardian
The 2008 crash was partly caused by decisions being made by people from similar backgrounds who think in the same way
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21 Jul 4:34am Next to repay £29m in Covid rates relief amid strong revenue growth
The Guardian
Shares soar as retailer raises profit forecast for third time in four months
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21 Jul 4:31am M&S chair: Brexit protocol will leave gaps on shelves in Northern Ireland
The Guardian
Retailer already planning to delist some Christmas products after grace period ends, says Archie Norman Shops in Northern Ireland will have gaps on the shelves when the grace period in the Brexit protocol ends, the chair of Marks & Spencer has warned. Ahead of a
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21 Jul 3:17am UK debt servicing costs hit record as inflation rises – business live
The Guardian
Rolling coverage of the latest economic and financial news
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21 Jul 2:40am UK borrowing falls as economy reopened, but interest payments rose – business live
The Guardian
Rolling coverage of the latest economic and financial news
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21 Jul 2:00am Our ‘government-approved’ Covid tests have never arrived
The Guardian
Atruchecks’s kits failed to show, but there’s been no refund
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21 Jul 2:00am Just camp in my garden: new websites offer private pitches
The Guardian
Wild camping is off the agenda in England and Wales, but new sites are helping to meet growing demand by offering spots in private gardens, meadows and woods You’ve done glamping, you’ve tried wild camping, but are you ready to embrace camping in other people’s gardens? A new travel website launching this month may just push more of us to do so, with its collection of pitches on people’s lawns and private land. About 100 gardens, fields and outdoor spaces in the UK will be available to book from £20 a night on
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21 Jul 1:00am Central banks can’t reduce inequality – it’s time for ministers to act
The Guardian
Central bank policies have enriched the wealthy – bold politicians must start redistributing wealth In the Forbes list of the
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21 Jul 1:00am Why the Bank of England has it head in the cloud over data security
The Guardian
Rapid digitalisation of banking services and increasing reliance on just three tech giants has made the Bank uneasy The Bank of England is at risk of moving too slow, according to experts, who say it needs to get a grip on the financial sector’s plans to outsource customer data storage to a handful of unregulated US tech giants. Last week, the central bank
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20 Jul 7:01pm UK public services face cuts of up to £17bn, says IFS
The Guardian
Government on track to spend billions less than planned before pandemic, warns thinktank
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