IlluMyFi

Hewlett Packard, American Express and Pfizer among firms to have frozen increases in payouts despite inflation

Some of the world’s richest companies are accused of exploiting a loophole in pension law to freeze increases in payouts for many former UK employees, despite the cost of living crisis.

The companies, which include Hewlett Packard Enterprise (HPE), American Express and Pfizer, are being urged to “do the right thing” and increase these frozen pension payouts in line with inflation. MPs have condemned the failure of companies to increase the payments in the face of high inflation in recent years as “heartless” and “unethical”.

Sentiment

-0.69

Bearish/Bullish

22.12.24 01:27

by theguardian.com

Guinness raids its Irish reserves to ease UK shortages amid gen Z demand

Diageo also reportedly puts shipments for North America on standby for potential diversion to keep up with thirst

Guinness is raiding its reserves in Ireland to boost shipments to the UK, where a social media-fuelled surge in demand has left some pubs facing shortages.

The reserves – known as security stocks – are usually earmarked for Irish customers but are now being used to ease pressure on publicans in the UK who have struggled to keep up with new fans after a marketing push in recent years.

Ireland