Category Archives: Business

Calls to cut bonuses for UK water bosses until reservoirs built and leaks fixed

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Multimillion-pound payouts should be shelved until investment put in to help country recover from drought

Water company bosses should be stripped of their multimillion pound bonuses until they fix leaks and build reservoirs, politicians and campaigners have said as the country is gripped by drought.

The current drought, in which parts of England are the driest they have been since records began after five consecutive months of below average rainfall, have led to homes running out of water, rivers turning dry and farmers facing crop failures, causing many to be outraged at the companies that have failed to invest in reservoirs, fix leaks and stop sewage pollution from their pipes.

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As drought hits, what are UK water company chief executives paid?

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Anger is growing over the huge sums handed to shareholders and executives

Britain’s biggest water companies have come under the spotlight as the nation swelters during what could become the worst drought in 500 years, with hosepipe bans introduced across much of England in an attempt to fend off shortages.

Anger is growing over the huge sums handed to their shareholders and executives, given the companies’ record on tackling leaks and pollution and their failure to build more reservoirs. Politicians and campaigners are now calling for water company bosses to have their bonuses banned until they tackle these issues.

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AT&T workers fight return to office push: ‘We can do the same job from home’

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Long commutes to and from work, exorbitant childcare costs, ongoing concerns over exposure to Covid cited

The Covid-19 pandemic sent millions of workers in the US from working in offices to working remotely. As unemployment benefits ended, vaccines rolled out, and reopenings expanded, employers and commercial real estate groups have been pushing to try to get workers back into offices.

But the pandemic further exposed the issues in returning to office, from long commutes to and from work, exorbitant childcare costs, ongoing concerns over exposure to Covid-19 variants and now Monkeypox, workers are pushing to keep working from home as an option as employers force a return to the office.

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Nine publisher says he was not contacted by Peter Costello over Nine’s Crown coverage

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James Chessell sends email to staff after both he and the Nine chairman were the subject of an email attack by James Packer

The Sydney Morning Herald and the Age’s publisher,James Chessell, has told staff at the Nine newspapers that he was not contacted by the Nine chairman, Peter Costello, in relation to the group’s award-winning coverage of money laundering at Crown casino.

“I never heard a word from Peter Costello about Crown Unmasked before, during or after publication/broadcast,” Chessell said in an email to staff on Monday morning, after both he and the Nine chairman were the subject of an email attack by billionaire James Packer.

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China’s economy slows unexpectedly as Covid outbreaks and property crisis bite

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Retail sales and industrial output lower than forecast, with fears that China could miss its annual growth target for first time since 2015

China’s economy unexpectedly slowed in July, with factory and retail activity squeezed by Beijing’s zero-Covid policy and a property crisis, while the central bank surprised markets by cutting key lending rates to revive demand.

July’s industrial output grew 3.8% from a year earlier, slightly down from 3.9% in June, data from the National Bureau of Statistics (NBS) showed. That compared with a 4.6% increase expected by analysts in a Reuters poll.

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Labour announces plan to freeze energy price cap with reinforced windfall tax

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Keir Starmer says people won’t pay ‘a penny more’ and that plan would reduce inflation

Keir Starmer has put a beefed-up £8bn windfall tax on energy company profits at the heart of a new plan to stop people having to pay “a penny more” on fuel bills this winter.

The Labour leader confirmed that under his plan the energy price cap would be frozen at the current level, meaning that an expected 80% rise in October – taking an average household bill to about £3,600 – would not go ahead.

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Cooking oil price surges hurt Australian takeaway outlets including fish and chips

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Covid-induced inflation, drought in Canada and global instability are putting the squeeze on key ingredients of a national staple

Takeaway businesses are feeling the pinch as prices surge for cooking oil and potatoes – two key ingredients of an Australian staple: fish and chips.

Justin Quinton, the owner of Saltmine Fish and Chips in the New South Wales Hunter region, told Guardian Australia his Salamander Bay eatery previously used a blend of cottonseed, canola and sunflower oil.

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Revealed: Indonesian workers on UK farm ‘at risk of debt bondage’

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As farms look further afield for labour, investigation finds Kent pickers saying they struggle to pay fees charged by unlicensed brokers

Indonesian labourers picking berries on a farm that supplies Marks & Spencer, Waitrose, Sainsbury’s and Tesco say they have been saddled with debts of up to £5,000 by unlicensed foreign brokers to work in Britain for a single season.

Pickers at the farm in Kent were initially given zero-hours contracts, and at least one was paid less than £300 a week after the cost of using a caravan was deducted, according to payslips and other documents seen as part of a Guardian investigation.

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‘My family need my support to eat’: how Indonesians came to work on a Kent farm

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Drawn to the prospect of a job abroad, people such as Banyu signed up to a language course. From there, their debts to brokers grew

Sitting in a caravan in the hot Kent countryside, Banyu’s face is etched with worry. It is July and he is less than a month into a job picking fruit at Clock House farm near Maidstone, which supplies strawberries, raspberries and other soft fruit to leading supermarket chains.

He says he arrived from Indonesia this summer £5,000 in debt to an unlicensed broker in Bali, handing over the deeds to his family home as surety. He only has a six-month visa for the picking season and is scared that the work is not as lucrative as he hoped.

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Saudi Aramco profits soar by 90% as energy prices rise

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The $48bn figure from world’s biggest oil firm is thought to be one of largest quarterly profits in history

Saudi Arabia’s largely state-owned energy firm has highlighted the colossal profits made by gas and oil-rich nations during the energy crisis by revealing profits in the three months to the end of June up 90% to $48bn (£40bn).

Saudi Aramco recorded what is believed to be one of the largest quarterly profits in history to easily beat the near $26bn it made a year earlier.

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Labor vows to prioritise Australian jobs as it eyes migration boost

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Annual intake could potentially rise from 160,000 to up to 200,000 places as businesses cry out for skilled workers

The home affairs minister, Clare O’Neil, has vowed Labor “will always prioritise jobs for Australians” as the government eyes increasing the migration cap potentially to 200,000 places per year.

A boost from the current annual migration intake of 160,000 will be on the table at the federal government’s jobs and skills summit next month.

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Production of French salers cheese halted due to drought

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Farmers in Auvergne despair as cows cannot be fed on grass left parched by hot summer

Traditional cheese has become the latest casualty of France’s summer drought, as production of the salers variety in the central Auvergne region was halted due to a lack of grass for cows.

Salers is an unpasteurised cow’s cheese that has been made for centuries in central France. It carries France’s appellation d’origine protégée (AOP) stamp of approval, meaning it is unique to the small area where it is produced.

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Salt Bae’s London restaurant reports £7m in sales in its first three months

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Nusret Gökçe’s ‘ludicrous’ Nusr-Et Steakhouse charges more than £600 for a tomahawk steak

The London restaurant of Salt Bae, a flamboyant, condiment-sprinkling chef, has reported £7m in sales in its first three months.

Nusr-Et Steakhouse, the outlet at the Park Tower hotel in Knightsbridge known for outrageously priced items such as tomahawk steaks wrapped in gold, also made pre-tax profits of £2.3m in the year to December having only opened its doors in late September, according to accounts filed at Companies House first reported by The National.

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Yorkshire Water announces hosepipe ban after record-low rainfall

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Ban begins from 26 August and follows similar moves by four other water firms in England and Wales

Yorkshire Water has become the fifth water company in England and Wales to announce a hosepipe ban owing to the hot and dry conditions.

The company, which has more than 5 million customers, said the restrictions would come into effect from 26 August.

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UK economy shrank by 0.1% in three months to June

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ONS says two bank holidays to mark Queen’s jubilee contributed to fall in output in June

Britain’s economy contracted by 0.1% in the three months to June, according to official figures that revealed the weakening outlook for the UK, which is expected to enter a recession later this year.

The dip in output in the second quarter followed 0.8% growth in the first quarter and was driven by the health sector – as Covid testing and the vaccine programme was wound down – and by retail, as household spending fell. Economists had forecast a bigger fall in output of 0.2% in the second quarter.

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Cost of living crisis: some low-paid workers miss out on £326 help

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People on universal credit have payments reduced to zero because of a quirk in the system

Some low-paid workers on universal credit have missed out on the government’s first cost of living payment because of payroll quirks that removed their benefit entitlement during the key window set by the government.

“I was going to use it to load up my gas meter, get ahead on my electricity and fill up the freezer,” said David Evans, a 55-year-old IT apprentice, of his plans for the £326 payment that in recent weeks has been landing in the bank accounts of struggling Britons.

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Huge UK electric car battery factory on ‘life support’ to cut costs

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Exclusive: Britishvolt’s 95-hectare site seen as great hope for car industry, but construction severely limited until February

Construction of a huge electric car battery factory that has attracted tens of millions of pounds of taxpayer cash and been hailed as a flagship project of Boris Johnson’s levelling up policy has been put on “life support” to cut spending, leaked internal documents suggest.

Work on Britishvolt’s 95-hectare site near Blyth in Northumberland has been severely limited until February to minimise spending as it focuses on unlocking its next round of funding and critical power supply infrastructure, the documents suggest.

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The grey Zara market: how ‘parallel imports’ give comfort to Russian consumers

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Western brands that pulled out are still on sale, due to legal changes that have fuelled entrepreneurship

Aleksandr Gorbunov, a property investor from the Siberian city Krasnoyarsk, had a simple solution when Zara, the Spanish clothing giant, closed its stores in Russia over the invasion of Ukraine: import it himself.

“The idea to start selling Zara came from my wife, who said she really wanted the clothes to return,” said Gorbunov, who said he was opening a store called Panika (panic) on Friday that deals exclusively in Zara and Zara Home products.

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Union launches court case seeking up to $250m from McDonald’s Australia for alleged unpaid wages

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Fast-food giant denied staff their rest break entitlements, the Shop, Distributive and Allied Employees Association alleges

The union representing more than 250,000 former and current McDonald’s workers has slapped the fast-food giant with a major federal court action, seeking compensation of up to $250m for alleged unpaid wages.

The move is the 16th federal court action lodged against McDonald’s by the Shop, Distributive and Allied Employees Association (SDA).

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Tory leadership: Sunak frustrated government attempts to realise benefits of Brexit, Truss allies claim – UK politics live

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Latest updates: foreign secretary’s supporters accuse former chancellor of resisting changes to EU regulation as sixth hustings looms

Gordon Brown, the former Labour prime minister, has used an article in today’s Guardian to propose that the government should halt the increases in the energy price cap planned for later this year and next year and, if necessary, take energy companies into public ownership to ensure that they keep prices down.

Alongside the Lib Dem plan, with which it has some similarities (they also want a price cap freeze, and more money raised through a windfall tax), it is the most radical and ambitious proposal on the table to tackle the energy bills crisis.

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