Friday newspaper round-up: Empty shops, executive pension pay, Woodford
Britain’s high streets, shopping centres and retail parks have been left with the highest number of empty outlets in five years as chains have taken a battering from rising costs and low consumer confidence. Nearly 12% of shopping locations were empty in the first half of 2019, up 0.6% compared to the same period last year, according to research from Local Data Company’s (LDC) review of 3,000 retail centres. – Guardian
An influential investor group has told companies they must publish credible action plans that align executive pension pay with their workforce by 2022, or risk further shareholder revolts. The move could result in companies slashing bumper pension payouts for several executives, who pocket hundreds of thousands of pounds in cash retirement benefits every year. – Guardian
Care homes risk running out of vital medical supplies if Britain leaves the European Union without a deal next month, the spending watchdog has warned. In a damning review of the Government’s no-deal Brexit preparations for Britain’s health and social care sector, the National Audit Office said it was unclear whether all necessary stockpiles are in place or if social care providers are properly prepared. – Telegraph
Neil Woodford has suffered a further setback after the investment trust he manages cut the value of its stakes in three private companies by £28 million.Woodford Patient Capital Trust blamed a “challenging fundraising environment” for the writedown on the trio of investments, which it declined to name. – The Times
Wework is to sell the private jet its co-founder Adam Neumann used to travel the world. The company bought the Gulfstream G650 for $60 million last year. Some investors told Business Insider, a news website, that the private plane was a corporate-governance red flag in the lead-up to the initial public offering of We, the parent company, which was scrapped this month. – The Times