17.11 - News Briefing
Top investors at Barclays are questioning the terms of Jes Staley's exit. He will be awarded £2.4m in pay, £120k pension entitlement and repatriation costs to the US after resigning this month following a probe into his past relationships with Jeffrey Epstein.
Gary Hoffman is close to resigning as chair of the Premier League following his handling of the Saudi Arabia led takeover of Newcastle united. The initial takeover approach stalled after league officials determined Saudi Arabia would be control, this means that the country leaders would have to complete the Premier League owners and directors tests, which they refused. After further discussions, the Premier League approved the takeover following 'legally binding assurances' Saudi Arabia was not in control. These assurances have not been made public.
Nvidia's £54bn takeover of Arm has hit another obstacle after the UK launched an in-depth investigation into the takeover. The phase 2 investigation means the deal will be subject to full blown antitrust and security concerns.
University staff voted for 3 days on strikes from 1st December due to a longstanding dispute of pensions, pay and employment conditions.
UK inflation jumped 4.2% in October further pressuring the Bank of England to raise interest rates. The increase was driven by higher energy bills, rise in second hand cars, fuel price and higher prices in restaurants and hotels.
Workspace have purchased The Busworks in a £45m deal as they bet on a return to the office. The move is consistent with its strategy to grow its footprint across London.