London housing crisis forcing workers to quit their jobs, says CBI survey

More than a quarter of the leading firms in the capital who responded said some employees had been leaving because they cannot afford to live in the local area
London’s housing crisis is forcing employees to quit their jobs and making it difficult for firms to recruit staff, according to a new survey by the Confederation of British Industry (CBI).
The business organisation said 28 per cent of the 176 leading firms in the capital who responded said that some of their employees had left because they could not afford to live in the local area.
High housing costs in the capital are also apparently hampering the ability of firms to recruit entry-level staff, with 66 per cent of respondents citing them as having a negative impact. That was up from 57 per cent in 2015.
Read more The UK economy suffers if millennials become permanent renters The survey suggests the housing situation is hampering the expansion of flexible working for employees too, with 36 per cent of firms claiming the ..

Morrisons pledges to make all its packaging recyclable by 2025

The supermarket has already banned the sale of single use carrier bags
Morrisons has pledged to make all its own-brand packaging reusable, recyclable or compostable by 2025 amid a range plans to reduce plastic use within its stores.
The supermarket will allow customers to use their own containers to buy meat and fish from its butcher and fishmonger counters, and will trial the removal of plastic packaging from fruit and vegetables in a number of stores.
It is also replacing the black plastic trays used for fish and meat with recyclable packaging materials, with a target of phasing out the trays by the end 2019.
Read more Packaging must be next in sight for plastic ban, say campaigners UK to ban sale of plastic straws and drinks stirrers This is how much plastic is in the ocean David Potts, chief executive of Morrisons, said: “Reducing the damage caused by plastic is one of the most challenging issues society can address. Because we make most of the fresh food we sell, we’re in a..

Facebook beat Wall Street revenue projections with user numbers on target despite data privacy scandal

Social media giant continues to grow despite Cambridge Analytica controversy
Facebook beat Wall Street revenue projections and announced that its user numbers were in line with estimates in the wake of a user data privacy scandal.
Up to 87m users saw their data end up in the possession of political consulting firm Cambridge Analytica, which worked for Donald Trump’s presidential campaign. Facebook has since been scrambling to mollify angry politicians and reassure users that it will safeguard their personal information.
Amid that turmoil, observers were keenly watching the company’s user figures to assess the potential damage and see if the scandal would suppress Facebook’s long-term growth.
Read more Professor apologises for helping Cambridge Analytica harvest data Cambridge Analytica whistleblower to give evidence to US Congress Suspended Cambridge Analytica boss refuses to appear before MPs Its North American user numbers were already flagging at the end of 2017, and since the..

Persimmon shareholders revolt over chief executive's 'grossly excessive' £75m bonus

Jeff Fairburn’s bonus could pay 4,100 of the company's full-time staff the Living Wage for a year
Persimmon shareholders rebelled on Wednesday against a “grossly excessive” £75m bonus awarded to the housebuilder’s chief executive Jeff Fairburn.
In a vote at the company’s annual general meeting, 48.5 per cent of ballots were cast against the pay deal while 30 per cent of shareholders abstained.
The company said it recognised that “a sizeable number of shareholders remained concerned” about the incentive plan, which also saw other senior executives awarded tens of millions of pounds.
Read more City drops ball as Persimmon narrowly wins AGM vote on CEO's pay Mr Fairburn's pay prompted widespread condemnation in December, after it was reported that he would collect more than £100m. After public outcry from politicians and shareholders, Mr Fairburn offered to cut the bonus £25m and said he would donate a “substantial proportion” to charity.
Finance director Mike Killo..

City drops the ball as Persimmon narrowly wins AGM pay vote despite uproar over CEO's £100m

The advisory vote won the support of 51.5 per cent of investors, but there were an unusually high number of abstentions
Just how absurd does a CEO’s package have to get for shareholders to vote against the remuneration report of the company that employs them?
It’s fair to ask that question in the wake of the furore over Persimmon Homes handing a bonus worth more than £100m to CEO Jeff Fairburn.
The advisory vote on the company’s pay report at its York AGM was a close run thing, but in the end the builder won the day with 51.5 per cent voting in favour, 48.5 per cent opposed.
Read more Persimmon execs give up part of obscene bonuses: It's a empty gesture Help to Buy, Persimmon Homes profits and why our columnist is outraged Persimmon expects 2017 profits to beat market expectations There were an unusually high number of abstentions, which is what the more gutless among the City’s big investors like to do when they want to “send a message”.
For the record the votes withhe..