According to The Independent, around 700 jobs are at risk at supermarket group Morrisons after the firm launched an automated cash-handling technology in back offices in an effort to improve competitiveness. The group has started consultations with cash office managers.
Billionaire investor George Soros has said that the Eurozone’s prospects would be better if its most dominant member, Germany, was not part of region, reports The Guardian.
Pensions & Investment Research Consultants, a shareholder advisory group, has said that the pay packet for Aggreko’s Chief Executive Officer is “excessive”, The Scotsman reports. Rupert Soames received shares worth £7.1m under a long-term incentive plan, taking his total pay for 2012 to just over £8.0m.
Sir James Crosby, the former head of bailed out lender HBOS yesterday offered to give up his knighthood and reduce his pension following a report that blamed him for the £20.5bn rescue, writes The Times.
The UK has signed an tax agreement with finance ministers in France, Germany Italy and Spain in an attempt to crack down on tax evasion, says The Telegraph. “Under the agreement, banks in the G5 will be forced to reveal financial details of foreign clients which will then be handed on to the tax domicile to be checked for evasion,” the paper writes.
The Financial Times says that Chinese trade with the States jumped 10.8% year-on-year in the first quarter but fell 1.9% with Europe “in further evidence of an uneven recovery in the global economy”.
Business Secretary Vince Cable has warned Britain’s largest companies to appoint more female boardroom members or the government may force them to by law, according to The Independent. This follows a survey which found that 27% of FTSE 250 firms still had male-only boards.
According to the Financial Times, Dell’s largest outside shareholder, Southeastern Asset Management, has said that the buyout offer for the tech company from Michael Dell and Silver Lake Partner is “unfair”, giving shareholders no opportunity to participate in any turnaround.