UK supermarket giant Tesco faces £4bn worth of equal pay claims

Tesco equal pay

UK supermarket chain Tesco faces its first equal pay claims that could add an extra 4 billion to its wage bill. The action has been brought by law firm Leigh Day, which said it had started submitting claims on behalf …

“Delusional” former Carillion directors appear before MPs

Carillion directors

The former directors of Carillion who appeared before the joint Work and Pensions and Business, Energy and Industrial Strategy Committees inquiry into the company’s collapse last month were labelled as “delusional” by its co-chairs Frank Field MP and Rachel Reeves …

House of Commons' committees launch joint Carillion inquiry

MPs

The House of Commons’ Work and Pensions and Business, Energy and Industrial Strategy Committees have launched a  joint inquiry into the collapse of construction firm Carillion.

The select committees said they would be investigating how a company that was …

Carillion collapse - early warning flags ignored?

Carillion collapse

The collapse of Carillion raises concerns not only about corporate governance at the firm and KPMG’s audit, but also how the directors were able to get changes to their pay passed the vote. Speaking in The Guardian on Saturday (20-Jan-18), …

Petrobras settles securities class action lawsuit led by USS

Petrobas class action USS

Brazilian oil and gas company, Petrobras, has signed an agreement to settle a securities class action lawsuit filed in the US in which the lead plaintiff was UK pension fund, the Universities Superannuation Scheme (USS).

Under the settlement, Petrobras agreed …

FCA: Investigation into Carillion's announcements begins

Carillion collapse

Support services company, Carillion, which has been suffering from financial difficulties in recent months, announced that the Financial Conduct Authority (FCA) has notified the company that has commenced an investigation. This is in connection with the timeliness and content

LTIP issues cause director resignations at Persimmon

Persimmon LTIP

The chairman of housebuilding company, PersimmonNicholas Wrigley is to step down from his post once a successor has been found and Jonathan Davie, senior independent director and chairman of the remuneration committee resigned after taking responsibility for the

Steinhoff CEO resigns as accounting irregularities emerge

Steinhoff accounting irregularities

Markus Jooste, the chief executive of the global retail group, Steinhoff, which owns Poundland, Bensons for Beds and Pep & Co in the UK, has resigned after accounting irregularities were uncovered at the company.

The company’s supervisory board has engaged …

US round up: NACD stresses the importance of corporate culture

NACD corporate culture

Although studies have shown that organisations with strong, positive cultures have been shown to outperform their peers and the absence of a healthy culture can create or exacerbate significant risks, the National Association of Corporate Directors’ (NACD) 2017 Blue Ribbon

Japan: Kobe Steel hit by data falsification scandal

Kobe Steel

Japanese company Kobe Steel this week said it had received a request from US judicial administrative authorities for documents following its admission earlier this month that the company had been falsifying data about its metal products for several years and