Thursday newspaper round-up: National Grid, BP, working from home
By Michele Maatouk
Date: Thursday 13 Aug 2020
(Sharecast News) - National Grid has fired up a coal-fired power station for the first time in 55 days after Britain's record-breaking heatwave brought wind turbines to a near-standstill and caused gas-fired power stations to struggle. The electricity system operator brought Britain's latest coal-free streak to an end by calling for the Ratcliffe-on-Soar power station in Nottinghamshire to begin generating electricity before a peak in electricity demand. - Guardian
Sales at pub, restaurant and bar chains halved in July compared to last summer, as almost two-thirds of restaurants remained closed and consumer wariness sparked a surge in home deliveries. Sales in July were down 50.4% year-on-year, with restaurants worse hit than pubs and London suffering more than the rest of the UK. - Guardian
Business leaders have urged the Chancellor to slash taxes or face long-term economic damage after productivity suffered a record quarterly fall and Britain plunged into a historic recession. - Telegraph
BP has insisted its executives will not receive windfall bonuses if its shares bounce back from the oil price crash, despite pressing ahead with an unchanged long-term incentive scheme. The oil group has awarded Bernard Looney, its chief executive, conditional shares worth £6.5 million, or five times his salary, that will vest in three years, subject to BP's performance. - The Times
People working from home will do an extra month's work each year and will gain the equivalent of almost 26 days in time off if they maintain habits developed during the pandemic. Staff have split the hours previously spent commuting to and from the office almost evenly between work and leisure, according to research. - The Times
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