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Tuesday newspaper round-up: Vanguard, Richard Sounds, Ghosn

Tue 14 January 2020 07:29 | A A A

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(Sharecast News) - The government has been urged to rethink its tax and benefit rules for low-paid workers after it emerged that some staff at the bakery chain Greggs could get to keep just a quarter of their £300 annual bonus as a result of universal credit deductions. Greggs announced last week that its 25,000 workers would receive a windfall of up to £300 under a £7m reward scheme linked in part to the success of the company's vegan sausage rolls. - Guardian

Vanguard, the world's second largest asset manager, has refused to sign up to a group of major investors demanding that polluters respond to the climate crisis, despite its rival BlackRock relenting to pressure to do so. The US investment manager's decision leaves it increasingly isolated after BlackRock last week joined Climate Action 100+ (CA100+), a group of asset managers that pushes the largest fossil fuel producers to show how they will meet carbon dioxide reduction targets. - Guardian

The hi-fi entrepreneur Julian Richer has called for "evil" zero-hours contracts to be banned. Speaking at the Trades Union Congress (TUC) headquarters in London, Mr Richer, 60, who handed control of Richer Sounds to his staff last year, said he felt like a "ham sandwich at a bar mitzvah" as the voice of business in the room, but added: "If we can't give working people basic security, we should be ashamed." - Telegraph

The former chief executive of Persimmon who was sacked after an outcry about his £76 million bonus has resurfaced at another Yorkshire housebuilder. Jeff Fairburn, 53, has been appointed chief executive of Berkeley Deveer after buying a 50 per cent stake in the business. The company builds homes starting from about £200,000 in the North of England. Mr Fairburn has kept a low profile since he was ousted from Persimmon in November 2018. Persimmon's profit per house almost tripled under his leadership and £2.2 billion was returned to shareholders. - The Times

Carlos Ghosn has launched what is likely to be a series of legal attempts to force Renault to pay him millions of euros in pensions and other benefits. An employment tribunal hearing is scheduled next month to assess Mr Ghosn's initial claim that the French carmaker owes him €249,999.99 that he says should have been paid when he stood down as chief executive last year. - The Times

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