Politicians and campaigners have urged Jeff Fairburn to reveal whether he has donated a portion of his controversial £75m bonus, as it appears no charity has been set up in the former Persimmon (PSN) boss’s name. A year after Mr Fairburn was forced to step down from his role, the Charity Commission says it does not have any record of a trust bearing Mr Fairburn’s name. Neither does it appear that the ex-housebuilding chief executive is a trustee of any charity in England or Wales.
Compass Group (CPG), one of the world’s biggest catering companies, is to axe thousands of jobs across Europe as sweeping cuts across the banks and carmakers hit staff canteens. Compass is to cut around 3,000 roles as part of a programme to make £300m of savings over the next two years. Boss Dominic Blakemore said: “[There has been a] significant reduction in the number of people eating at our restaurants,” he said of Compass-operated staff canteens across Europe. The number of job cuts in Britain would be in the “low hundreds”, he added, some of which will be achieved by not filling new positions. Around £1.8bn was wiped off Compass’ market value as the company’s shares fell almost 6%.
Colombian billionaire Jaime Gilinski Bacal, one of the wealthiest people in Latin America, has bought a chunk of troubled Metro Bank (MTRO) as the UK lender fights to move on from the worst period in its history. The banker, once the biggest investor in TSB’s Spanish owner Banco de Sabadell, is now one of Metro’s top five shareholders after buying a 4.28% stake in the business. The move, announced to the stock market on Tuesday afternoon, follows a disastrous year for the bank in which a major accounting gaffe has left investors nursing huge losses. Mr Gilinski’s stake is worth almost £15m.
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