Monday newspaper round-up: HSBC, pay gap, M&S, NMCN

by | May 23, 2022

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HSBC has suspended a senior banker after he referred to climate crisis warnings as “unsubstantiated” and “shrill” during a conference speech that has since been denounced by the lender’s chief executive. Stuart Kirk, who has been HSBC’s head of responsible investing since last July, will remain suspended until the bank completes an internal investigation into the matter. – Guardian
The gap between the pay of bosses and employees will widen again this year after narrowing during the pandemic, research suggests. FTSE 350 chief executives are expected to collect 63 times the average median pay of workers at their companies , according to the High Pay Centre thinktank, which campaigns for fairer pay structures. – Guardian

A year and a half after taking the helm at one of Britain’s oldest brands, Steve Rowe admitted he was still “putting out fires”. It was November 2017 and Marks & Spencer had posted another fall in profits. The new 54-year-old chief executive, often described as a people person, had inherited a business in desperate need of a revival. – Telegraph

Farmers have warned that supermarket shelves could be packed with cartons of Polish eggs as retailers turn to foreign suppliers in the face of escalating food prices. Britain’s egg farmers are wrangling with soaring costs, which have gone up by almost a third since the start of the year, sparking pressure on supermarkets to pay them more for their produce. – Telegraph


Administrators of the largest listed construction company to go bust since Carillion have brought in lawyers to investigate its collapse. Joint administrators at Grant Thornton have instructed Gateley, the law firm, to help them to look into the background to NMCN’s failure. – The Times

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