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Monday newspaper round-up: Liberty Steel owner, FCA, rail chiefs, Glaxo

The owner of Liberty Steel has pledged to restart its plants in Rotherham and Stocksbridge in South Yorkshire this month, saving the “substantial majority” of 1,000 jobs, by pumping £50m in cash into the business. The move comes after Sanjeev Gupta’s conglomerate, GFG Alliance, said it had refinanced debts at its Australian steel and mining business. – Guardian
Britain’s financial regulator, accused of failing from “top to bottom” after a string of scandals, has paid out bonuses of more than £125m to its staff since 2016, the Observer can reveal. Campaigners said the payouts at the Financial Conduct Authority (FCA) were an “absolute insult” to savers who had lost their life savings because of the regulator’s systemic failings. – Guardian

Ministers have been accused of hypocrisy after bosses at Britain’s nationalised rail operator were handed an inflation-busting pay rise despite ordinary rail workers being forced to endure a two-year freeze on wages. Executives on the six-person board of DfT OLR Holdings, which runs the LNER and Northern rail networks, shared remuneration of £718,000 this year according to recent filed accounts, a rise of 5.7pc on 2020. – Telegraph

GlaxoSmithKline investors hoping for a change of heart were disappointed. The chairman, Sir Jonathan Symonds, is not a man for turning. Roughly 30 of the pharmaceutical giant’s biggest investors dialled into Zoom on Thursday afternoon. Billed as a crunch meeting to garner support for the board’s transformation plans, it was hosted by the Investor Forum, an influential group that forced Unilever to backtrack on shifting its headquarters to the Netherlands. – Telegraph

The City regulator is facing new criticism over its handling of the £237 million London Capital & Finance investment scandal from an independent commissioner. The Financial Conduct Authority is at risk of censure from the financial regulators complaints commissioner, who has been investigating decisions it made in the fallout from the affair. – The Times

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