Elon Musk says he will honour the results of a Twitter poll asking whether the should resign as head of the social media platform
Telsa investors seem to pleased with the way that Musk’s Twitter poll is leaning towards his potential resignation, with shares up 4% in pre-market trading:
Economic data interlude:
Continue reading...Footfall likely to increase less than in previous years as shoppers struggle with cost of living crisis, say analysts
The UK retail industry is braced for a muted end to the Christmas shopping period as poor weather and strikes weigh further on consumers whose spending is already under pressure from the increased cost of living.
Analysts at the data company Springboard said they expected the number of shoppers at retail destinations across the UK to rise by 4.5% in high streets, 5% in retail parks and 10% in shopping centres in December compared with November. However, those footfall increases would be smaller than previous years.
Continue reading...Campaigners welcome DfT’s temporary £60m subsidy to cut emissions and congestion, but say it should go further
Bus fares in many places across England will be capped at £2 for the winter under a government-backed campaign to encourage people back on to public transport.
Single fares on most major operators’ services will be limited from January until March under the scheme.
Continue reading...Exclusive: Supermarket faces landmark lawsuit in the UK from 130 former workers alleging negligence
Burmese workers that produced F+F jeans for Tesco in Thailand report being trapped in effective forced labour, working 99-hour weeks for illegally low pay in appalling conditions, a Guardian investigation has found.
Tesco faces a landmark lawsuit in the UK from 130 former workers at VK Garment Factory (VKG), who are suing them for alleged negligence and unjust enrichment. The workers made jeans, denim jackets and other F&F clothes for adults and children for the Thai branch of Tesco’s business between 2017 and 2020.
Being paid as little as £3 a day to work from 8am to 11pm with just one day off a month.
Detailed records kept by supervisors seen by the Guardian show the majority of workers on their lines were paid less than £4 a day and only according to how much they could make. The Thai minimum wage then was £7 for an 8-hour day.
Having to work through the night for 24 hours at least once a month to fulfil large F&F orders, and becoming so exhausted they fell asleep at their sewing tables.
Some reported serious injuries; one man described slicing open his arm carrying a dangerously heavy interlocker machine, requiring 13 stitches. Another said he lost the tip of his index finger after slicing it in a button machine while making F&F denim jackets.
Many said they were shouted at and threatened by managers within the factory if they did not keep working overtime and meet targets.
More than a dozen of the workers interviewed said the factory opened bank accounts for them and then confiscated the cards and passwords so they could make it appear they were paid minimum wage while paying much less in cash.
Most workers relied on VKG for their immigration status and some said their immigration documents were held by the factory, leaving them in debt bondage.
Factory accommodation within the compound consisted of overcrowded rooms with concrete floors to sleep on and dirty pond water in a bucket to wash. Workers say most rooms had no door, just a curtain.
Continue reading...Authorities say recalled spinach which causes delirium and hallucinations has affected more than 120 people across Australia
A child admitted to hospital is among more than 120 people believed to have suffered symptoms after consuming spinach amid a widespread recall of fresh food items contaminated with a weed.
Authorities say the recalled spinach products, thought to be from a farm in Victoria, have caused delirium and hallucinations.
Riviera Fresh – Riviera Farms Baby Spinach
Fresh Salad Co – Fresh and Fast Stir Fry
Woolworths – Chicken Cobb Salad and Chickpea Falafel Salad
Continue reading...People urged only to travel if absolutely necessary on last weekend before Christmas
Rail passengers face another day of reduced services on Saturday as thousands of Rail, Maritime and Transport workers’ union (RMT) staff continue a 48-hour strike.
People have been urged to only attempt travel if absolutely necessary on the last full weekend before Christmas, with only a skeleton service running and all train journeys ending by early evening.
Continue reading...Mick Lynch speaks after talks with minister on Thursday as one in five trains expected to run today and some National Highways workers strike
RMT leader Mick Lynch has said there are “no new proposals on the table” after talks convened by rail minister Huw Merriman on Thursday.
Speaking from the picket line at London Euston station, the union chief told Sky News:
“We had an exchange about what might be possible and some ways forward and ideas that all the parties shared, and the rail minister requested that all the parties get down to some more discussions in the next period.
“We’ll look to arrange those meetings with the employers and see if we can develop some solutions to the issues that hopefully all the parties can support.
If we get a set of documentation and a pay proposal that our members want to support, it will resolve the dispute and we can take all the action away.
I hope we can do that as quickly as possible.
“We started today with 46 organisations.
And why did we do that? We did that because we wanted to make sure that we manage this strike safely and effectively for every patient, the people that I’m speaking with here tonight in this room, and every other patient in England and Wales and Northern Ireland.
Continue reading...Lacklustre festive sales leaving retailers low on funds needed to cope when shoppers traditionally tighten belts in new year
The high street could face a “flurry of business failures” in the new year, as a lacklustre Christmas sales period is leaving retailers low on the funds needed to cope when households tighten their belts after the festive season.
“We can expect more consolidation and high street casualties as we head into the new year. It will be yet another tough year for retail and a case of survival of the fittest,” said Paul Martin, UK head of retail at KPMG.
Continue reading...Former Superman star Henry Cavill linked to project, and agreement includes film and merchandise plans
Amazon has struck a deal with the high street games chain Games Workshop to create a series based on its hit franchise Warhammer, the science-fiction fantasy miniature war game, potentially featuring the former Superman star Henry Cavill.
The London-listed Games Workshop, which has a £2.7bn market value and runs about 530 stores, has struck a deal with Amazon to develop the company’s intellectual property into film and TV productions as well as sell merchandise.
Continue reading...Workers and labor activists criticize Congress after it blocked a strike by voting to impose a contract agreement
Railroad workers and unions are ramping up pressure on the US Congress and Joe Biden to address poor working conditions in the wake of the recent move to block a strike when Congress voted to impose a contract agreement.
Workers and labor activists in America have criticized that action for undermining the collective bargaining process in the US and workers’ right to strike.
Continue reading...Unilever sold business in June to local licensee but Ben & Jerry’s tried to block sale, saying it did not want to sell products in occupied West Bank
Unilever said on Thursday that its litigation with the independent board of Ben & Jerry’s over the sale of its Israeli ice cream business has “been resolved”.
The company did not provide details of how the litigation had been resolved.
Continue reading...Majority of MPC rate-setters back hike of 0.5 percentage points despite fears UK is entering a long recession
Mortgage payers are braced for higher borrowing costs, after the Bank of England pushed up its base rate by 0.5 percentage points to 3.5% despite saying inflation has peaked and Britain is about to enter “a prolonged recession”.
The Bank hiked interest rates on Thursday for the ninth time in a year, to the highest level in 14 years, but told borrowers to prepare for fresh increases in the new year.
Continue reading...Consumer group Which? said many packages were thrown in ponds, arrived late or were left in the rain
Parcels chucked over fences into ponds, packages hidden in bins and laptops left out in the pouring rain – these are just some of the Christmas parcel delivery failures reported by consumers.
A delivery of pet tarantulas delayed overnight in transit was one of the strangest parcel problems reported to consumer group Which? in a survey of festive delivery difficulties.
Continue reading...Number of people unable to afford prepayment meter top-up is higher this year than in past six years combined
The monthly number of people that Citizens Advice helped with energy-related problems and issues rose to a record high in November, underlining the scale of the struggle with soaring costs of gas and electricity.
The charity said it was continuing to exceed its forecasts for the numbers of cash-strapped households turning to it for help because they cannot afford to top up their energy prepayment meter and therefore cannot perform basic tasks such as heating food.
Continue reading...Report by Australia Institute finds a windfall profits tax could collect almost all this money for public use
Coal exporters from Australia reaped as much as $45bn in windfall gain in the 2021-22 year, with a similar bonanza likely this year, offering governments a budgetary boon for those willing to grasp it, the Australia Institute has said.
In a report released on Thursday, the institute’s economists said Russia’s invasion of Ukraine and subsequent disruption to energy markets alone had delivered between $13bn and $23bn of gains to coalminers. All up, those gains totalled between $39bn and $45bn.
Continue reading...Bonus pool could be slashed by up to 40%, in possibly the lender’s largest cut to payouts since the financial crisis
Goldman Sachs bankers are reportedly at risk of having their bonus pool slashed by up to 40%, in what could be the lender’s largest cut to payouts since the 2008 financial crisis.
The bank is still in the process of deciding the size of its bonus pools for 2022, but the prospective cut could mean its 3,000 investment bankers endure the most significant drop in variable pay among their peers, according to the Financial Times, which first reported the news.
Continue reading...Retailer among companies listed by Leave Russia project but says it does not itself operate there
In its three decades in British retail, the lingerie brand Agent Provocateur, the 1990s brainchild of Dame Vivienne Westwood’s son, has rarely shied away from controversy.
Whether it be its daring window displays or that 2001 TV advert featuring Kylie Minogue riding a velvet bucking bronco, the brand has stirred up some strong emotions. But it had not, until now, been accused of inadvertently helping to finance a war in Europe.
Continue reading...Large parts of national rail network grind to halt as RMT union members strike for increased pay
There is similar pessimism about the prospects for a deal to prevent later rail strikes from the other side of the table.
Asked if there is a glimmer of hope in the negotiations, Network Rail chief executive Andrew Haines earlier this morning told BBC Breakfast (via PA Media):
It’s hard to see that today. I’ve learned, you know, through a long career, that sometimes the light is just around the corner.
But where I stand today, I’d have to say that with the level of disruption the RMT are imposing, the way forward isn’t obvious.
Well, we hope not. We want to get a deal but at the moment, there is no deal in sight.
So we’ve got the schedule down at the moment, which is running for the next four weeks. We will review that at the end of that if there’s no settlement on the table and we’ll decide what our next steps are, but at the moment there is no settlement to be had.
Continue reading...Chat group on the platform Signal was reportedly used to send end-to-end encrypted information about FTX and its hedge fund
Sam Bankman-Fried and other members of the inner circle of the collapsed crypto exchange FTX allegedly formed a chat group on the encrypted platform Signal under the name “Wirefraud”.
The Australian Financial Review reported that the Wirefraud chat group was used to send end-to-end encrypted information about FTX and its crypto hedge fund, Alameda Research, in the run-up to the implosion of the exchange. According to the newspaper, members of the secret group included Bankman-Fried, his FTX partners Zixiao “Gary” Wang and Nishad Singh, and the CEO of Alameda Research Caroline Ellison.
Continue reading...Rail bosses and unions also signal they will not budge, as RMT’s Mick Lynch says there is ‘no deal in sight’
Rishi Sunak has said the government is unable to shift its position on pay, effectively implying the only way for strikes across the railway and other sectors would be for unions to back down.
In comments to his cabinet on the first day of four weeks of disruption to train services, the prime minister said: “While the government will do all we can to minimise disruption, the only way we can stop it completely is by unions going back around the table and calling off these strikes.”
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