Thursday newspaper round-up: Google, IAG, Waitrose, Goldman Sachs

by | Sep 7, 2023

(Sharecast News) – Google faces a new multibillion-pound lawsuit from UK consumers accusing the company of contributing to cost-of-living price rises. The lawsuit, on behalf of every consumer in the UK, says that Google has stifled competition in the search engine market, which caused prices to rise across the UK economy. – Guardian
The BBC should hand all licence fee payers a stake in the broadcaster to improve its “out of touch” agenda and give households more say over its future, according to Sir John Redwood. Sir John, the former head of Margaret Thatcher’s policy unit, said the corporation would be “transformed by wider ownership”. – Telegraph

Waitrose staff have been warned that jobs are at risk as the retailer overhauls its business in an effort to boost productivity. Tina Mitchell, retail director at Waitrose, allegedly warned employees that efforts to streamline the loss-making grocer “may result in some partners leaving the business”. – Telegraph

The owner of British Airways is sitting on a potential windfall profit from hundreds of millions of pounds worth of flight vouchers issued during the pandemic and never redeemed. IAG, which also owns Iberia, Aer Lingus and Vueling, revealed in its last annual report that it had about £550 million worth of unclaimed vouchers. British Airways and other airlines offered passengers vouchers rather than refunds when their flights were cancelled at short notice. Thousands of passengers took up the offer, but a substantial number have not claimed their new flights. – The Times

Goldman Sachs has landed what it believes to be the biggest deal of its kind in the UK, winning the contract to choose and manage the investments of the £23 billion BAE Systems pension funds. The American bank clinched the mandate by agreeing to hire the defence group’s 49 financial staff who currently make the investment decisions for the pension schemes. – The Times

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