CS Venkatakrishnan, chief executive of Barclays, could see his maximum pay rise by 45 per cent to £14.3 million under a pay overhaul being considered by the lender’s board. The proposal would reduce his fixed salary nearly by half, from £2.95 million to £1.59 million, but allow him to earn annual and longer-term bonuses worth up to eight times that new figure. If approved, this would increase the Barclays chief’s maximum pay package from £9.8...
Sir Len Blavatnik, Britain’s second-richest man, has injected an additional $827 million into DAZN — the self-styled “Netflix of sports” — despite the London-based streaming service recording widening losses. The billionaire’s latest funding, delivered in 2023 through his investment group Access Industries, brings his total backing for DAZN to more than $6.7 billion since its launch in 2016. The company’s ambitions have soared along with its costs, as it snaps up rights to European football,...
Rachel Reeves, the chancellor, will instruct the national wealth fund (NWF) and the Office for Investment to coordinate their efforts with regional mayors for the first time. The plan is part of a series of measures designed to boost local and national prosperity by strengthening collaboration between Whitehall and devolved administrations. Following a meeting with combined authority mayors in Rotherham, Reeves emphasised the importance of local insight for fostering sustainable economic development. “Those with local...
Google has committed to stronger safeguards against fake online reviews in the UK by promising to clamp down on misleading practices and penalise businesses and individuals found boosting their star ratings fraudulently. The agreement comes in the wake of an investigation by the Competition and Markets Authority (CMA), which warned that dishonest reviews could potentially influence up to £23 billion of consumer spending every year. In its pledge, Google has said that it will identify...
The number of UK businesses in critical financial trouble jumped by a record 50.2 per cent quarter-on-quarter to 46,853 in the final three months of 2024, according to new data from insolvency specialist Begbies Traynor Construction and consumer-facing companies are bearing the brunt of this distress, heightening fears of widespread insolvencies in the year ahead. Begbies Traynor’s latest “red flag” alert highlights that 6,830 construction firms are showing signs of critical stress. Consumer sectors have...
Simon Swan, co-founder of Manchester-based digital recruitment platform Hiring Hub, has announced he is leaving the company after 14 years. Swan launched the firm in 2011 to connect businesses with specialist recruitment agencies, helping them find top-tier talent in a rapidly evolving jobs market. Speaking on LinkedIn, Swan described his departure as both “exciting” and “trepidatious”, adding: “It’s been an epic adventure, and one that’s taught me so much. But I’m ready to explore again,...
Consumer confidence in the UK has fallen sharply to its lowest point in over a year, according to the latest GfK data, suggesting that households are pessimistic about both personal finances and the wider economic outlook. Figures for January show the overall GfK consumer confidence index dropping five points from December to -22, its weakest reading since December 2023. Neil Bellamy, consumer insights director at NIQ GfK, said the results reflect a sense that “consumers...
Charlie Nunn, Lloyds Banking Group’s chief executive, has welcomed the government’s decision to intervene in a landmark car finance mis-selling case and expressed hope that it will help bring clarity to an industry under legal and regulatory pressure. His comments follow the Treasury’s announcement that it will seek permission to raise its concerns in a pivotal Supreme Court hearing scheduled for April. The case stems from an October Court of Appeal ruling, which, if upheld,...
It seems to be the word on everyone’s lips…but what does it mean and why should you care? Let me ask you a question. What’s your raison d’être? What are you trying to achieve? For me, this is the core meaning of ‘purpose’. Some call it vision, some call it mission, but really, it’s a blend of both. Purpose is a deeply personal and powerful concept. It’s about understanding the ‘why’ behind what you do...
Donald Trump is reportedly still threatening to block Peter Mandelson’s appointment as Britain’s next ambassador to Washington, unless the UK government agrees to impose tight restrictions on his conduct. The incoming Trump administration is said to be pressuring Sir Keir Starmer to bow to these “undiplomatic” demands or risk an unprecedented refusal of his chosen envoy. A source close to the Trump team claimed the president remains determined to reject Lord Mandelson’s credentials but might...
