Network Rail has said it is ready to pay nearly £35m in train-travel expenses to its staff in 2011-13, around £1,000 per employee, as passengers suffer massive new year fare increases. Staff who worked for British Rail before privatisation 20 years ago had rail-pass perks safeguarded as part of the terms of the deal. Workers employed since then have limited free travel.
The Mail on Sunday: Bonuses set for squeeze
City bonuses are to fall in the coming remuneration round, according to PricewaterhouseCoopers. Jon Terry, the accountant's global head of financial services, said that the Libor and various mis-selling scandals in the sector would ensure that share awards to staff would be lower for 2012 than the previous year. PWC estimates that European banks will slash bonuses by up to 40 per cent.
The Sunday Times: British Gas boss set to go
Phil Bentley, head of British Gas, is set to step down amid rumours that he has fallen out with the chief executive of owner Centrica. Mr Bentley has worked closely with Sam Laidlaw of Centrica since 2006, but relations between the pair have deteriorated recently, according to insiders. British Gas provides electricity and power to 12 million homes, and employs more than 31,000.
The Sunday Telegraph: Flood victims face payout delay
Simon Lee, the chief executive of RSA, one of Britain's largest insurance companies, has warned that negotiations with the Government over cover for flood damage are facing delay and could put thousands of homeowners' policies at risk. The present flood agreement between the Government and the insurance industry expires in six months, and negotiations are proving slow, Mr Lee said.Reuse content