FYT - Weekly News 21st October



"Give Back Your £1/2 million Bonus - You didn’t earn it"


Govt committee asks Thomas Cook ex-boss



At a cross-party committee meeting, Rachel Reeves, a Labour party MP grilled Peter Fankhauser ex-CEO at Thomas Cook which went bust last month.

She asked him to give back his

£500k bonus from 2017

“that you have not earned Mr Fankhauser"



Fankhauser accepted the cash bonus in 2017 even though in that year...


💵 👇

£975m it suffered falling

the firm had to borrow profits in the UK

⚔️

it faced a vicious

holiday price war





Ms Reeves suggested using the £500k to help staff facing redundancy



Mr Fankhauser hasn’t yet decided...





A HISTORY


  1. Thomas Cook almost went bust in 2011 but its bankers helped them out.

  2. The 178 year old company finally went bust in September with bank debt of £1.7bn.  

  3. It owned travel shops (recently bought by Hays Travel), airlines and service centres


#whatsgoingonzomonzo



BBC Watchdog programme has revealed that Monzo is freezing some bank accounts for weeks without saying why



The programme featured account

holders unable to pay their rent,

receive their salary etc.


Monzo fans took to Twitter

to defend the challenger bank

and accused the BBC of unfair bias


So what’s going on?

 

Suspicious activity: All banks must by law block accounts. Most do so for just minutes and customers never even know it’s happened


"Tipping off” is illegal: Banks are not allowed to say why an account has been blocked to protect any investigations



Commenting on the blocked accounts

referred to by the BBC Tom Blomfield

(Monzo CEO) said…


“This only happens very rarely.
We won’t always get this right, and I wholeheartedly apologise to any legitimate customers who’ve been left out of pocket for a period of time"

There is

£1.2bn

of UK bank fraud

every year


Bullying in banking

City watchdog talks to young staff


The Financial Conduct Authority has widened its probe into non-financial conduct by talking to junior bankers at investment firms in the City



It follows a 220% increase in

complaints such as bullying,

harassment and whistleblowing...


The programme previously focused on

interviewing only senior execs


The FCA wants to stamp out misconduct

in financial services which it believes is related to a lack of diversity in the workforce




Last year a Treasury Committee said bankers must tackle the "alpha male culture” and narrow diversity. 



What is a diverse workforce?


- One that’s made up of all sorts of different people; different races, ethnicity, gender, age, religion, ability and sexual orientation


Why is it important?


- Research says that workplaces with a cross section of people are healthier and happier places for staff. Bullying and harassment are much less likely.



OTHER NEWS



Diamond hunt

at the dump


Binmen at Caldicot dump in South Wales went through tons of rubbish for Jo Carter who accidentally binned her £3000 diamond engagement ring.


Two staff and Jo’s husband found it after sifting through 100s of black sacks.


Jo said “Their kindness and good hearts

have had me in tears”


----------------------------------------------------------------------------------

Ho Ho....NO

£2,000 minimum spend

to see Harrods Santa


The Knightsbridge store restricts tickets to its famous Santa’s Grotto.


 

It reserves tickets on a minimum spend basis


Green tier 2: £2000

Gold: £5000

Black: £10,000

- The deadline to apply was August 26th and is now fully booked

- Ticket price is £20 for a 10 minute visit with Father Christmas

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