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Monday newspaper round-up: Landsec, UK customs, retailers

By Michele Maatouk

Date: Monday 29 Jun 2020

Monday newspaper round-up: Landsec, UK customs, retailers

(Sharecast News) - The biggest job creation package in peacetime is needed to prevent the worst unemployment crisis in Britain for a generation, a leading thinktank has warned. Sounding the alarm as job losses mount, the Resolution Foundation called on the government to continue subsidising the wages of workers in the sectors of the economy hardest hit by the Covid-19 crisis until at least the end of next year. - Guardian
Landsec, one of Britain's biggest property companies, is at risk of a shareholder rebellion after an influential adviser warned investors over the bumper pension package offered to its finance chief. The Guardian has learned that the Investment Association's Institutional Voting Information Service (IVIS) has issued Landsec's annual report with a "red top" alert - its strongest possible objection - for failing to publish a credible plan that would bring Martin Greenslade's pension pay in line with the wider workforce by 2022. - Guardian

The head of the Government's own expert customs panel has warned of looming chaos at ports after the "amateurish" handling of a new IT system. The Goods Vehicle Movement Service is intended to help goods flow across Britain's borders and cut queues. Industry groups said they were only notified about the system in the past fortnight. Unlike France, the UK has still not tested its new customs system. - Telegraph

Retailers are being warned to prepare for a painful hangover from the online shopping binge after extending their returns policies during the lockdown. In an effort to revive sales, many retailers lengthened their returns deadlines from the usual 28 days, some up to 100 days. However, analysts and retail bosses have said they face an avalanche of unwanted goods after that period. - The Times

Large corporations that have received help from the government to see them through the pandemic should be forced to pay their suppliers within a month, a leading business campaign group has argued. At the end of last year, Britain's small businesses were owed more than £23 billion in unpaid bills from customers but that figure is set to spike sharply higher due to the economic shutdown.- The Times

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