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Thursday newspaper round-up: Net zero, Royal Mail, Home REIT

Published 06/04/2023, 08:23
Thursday newspaper round-up: Net zero, Royal Mail, Home REIT

Sharecast - The billionaire head of Canada’s largest grocery chain has been given a C$1.2m (US$890,000) raise, in a move likely to prompt controversy as grocery executives have faced sharp criticism for raising their prices amid record inflation. The raise for Galen Weston, chairman and president of grocer Loblaw Companies, brought his total pay last year to C$11.79m. Details of the deal were first reported by the Globe and Mail. – Guardian

Royal Mail (LON:IDSI) bosses have accused striking workers of plotting to bankrupt the company and force it back into the hands of the taxpayer, amid a deepening row after talks collapsed. Directors criticised union leaders for saying they were “'becoming more comfortable' with the risk of administration” during discussions to agree a new pay deal, according to a letter leaked to the Telegraph. – Telegraph

Home Reit, which has spent the past two-and-a-half years frantically buying hundreds of properties to let out to homelessness charities, is thinking of selling some. Such a move, it said, would help to stabilise the business, which was plunged into crisis late last year when the short-seller Viceroy Research flagged concerns, including doubts over the reliability of some tenants. – The Times

The City regulator has warned the financial firms that fund it that its annual budget will rise to more than £680 million, pushed higher in part by the extra cost of a post-Brexit revamp of its responsibilities. The Financial Conduct Authority disclosed yesterday that its so-called annual funding requirement for 2023-4 is forecast to increase by 8.5 per cent to £684.2 million. – The Times

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