Up until last February, Mr Rhodes had acted as interim chairman, a post he had held since 2018.Īt the vote on Wednesday, around 42pc of shareholders also withheld their votes on electing Mr Rhodes's replacement as chairman, Simon Douglas, to the board. “Without bolder policies that reflect reinvigorated multilateralism, the post-pandemic recovery will lack equity and fail to meet the challenges of our time.”īritish Covid test maker Omega Diagnostics has been hit by a shareholder revolt amid mounting frustrations over the lack of orders through a £374m government contract, reports Hannah Boland.Īlmost 45pc of Omega's shareholders voted against the reappointment of William Rhodes to its board as a non-executive director. Rebeca Grynspan, secretary general of the United Nations Conference on Trade and Development, said: “These widening gaps, both domestic and international, are a reminder that underlying conditions, if left in place, will make resilience and growth luxuries enjoyed by fewer and fewer privileged people. The UN said this expansion may fall back to 3.6pc next year, taking the total cumulative income loss since 2020 to $13 trillion.īut in a report published today, the UN warned that deepening inequalities between advanced and developing countries threatened to undermine future growth. The global economy is expected to undergo its fastest recovery in almost half a century this year, the United Nations has said.įollowing a 3.5pc contraction last year, world GDP is forecast to surge 5.3pc in 2021 due to "radical" policy intervention and successful vaccine rollouts in advanced economies. "If the economic recovery is slowing and COVID cases reviving, maybe more restrictions going into the winter, and yet central banks are raising interest rates that would suggest that the previous statements on the transitory nature of inflation are not necessarily the belief." It came after new data showed consumer prices rose 3.2pc last month in their fastest increase since 2012.Ĭraig Erlam, senior market analyst at Oanda, said: "We're probably going to see a lot more inflation jitters now for the next few months especially if central bankers are going to persevere, or really talk persevering with removing stimulus, because that's just going to add fuel to the inflation fire.
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Just Eat Takeaway dropped 4.5pc to the bottom of the index on reports that Amazon will offer free delivery through Deliveroo to Prime subscribers.ĭarktrace led the FTSE 250, rising 14.5pc after hiking its revenue forecasts for the full year. Losses in the FTSE 100 were limited, however, by gains for BP and Royal Dutch Shell, as well as life insurers. The blue-chip index slipped 0.1pc, while the domestically-focused FTSE 250 dropped 1.1pc in its worst session in nearly two months. The FTSE has closed lower after figures showed inflation accelerated to a nine-year high, raising concerns the Bank of England could move to taper stimulus measures sooner than expected. The future of Channel 4 has dominated the events at the RTS conference, but the chief executives of Sky and ITV refused to be drawn on whether a sale would safeguard its future.
"That doesn't mean it cannot make a lot of money as an advertising platform, but I certainly can understand why it may need to fit in with the strategies of some of the other players." "Channel 4 will fit into the strategy of one of the big players," he added. His comments came as he confirmed the appointment of Jess Brammar as the BBC's executive news editor despite concerns raised by Sir Robbie Gibb, a non-executive director on the broadcaster's board.Īsked about the Government's bid to privatise Channel 4 at the Royal Television Society convention in Cambridge, Mr Sharp said it was a "local issue". The comments from the former Goldman Sachs banker came as he downplayed the importance of Channel 4's potential privatisation as a "local issue" in comparison to threats posed to the British broadcasting by the rise of fake news on US tech platforms. BBC chairman Richard Sharp has backed privatising Channel 4, hinting that the broadcaster could be better served in the hands of a "bigger player", reports Ben Woods.
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