Friday newspaper round-up: Scottish Power, TGI Fridays, green energy firms
The leaders of the world’s biggest green energy companies have promised more than £24bn of new private investment across Great Britain ahead of a meeting with the prime minister on Friday. Keir Starmer is expected to meet the green energy bosses on the sidelines of the first Council of Nations and Regions in Edinburgh to discuss the multibillion-pound projects just days before the government’s international investment summit next week. – Guardian
Britain must prepare for the widespread use of road pricing to make up a £35bn shortfall in tax revenues from the transition to electric vehicles, the country’s top infrastructure adviser has said. Sir John Armitt, the chair of the National Infrastructure Commission (NIC), said it was time for a “proper public debate” about the future funding of the road network and other critical projects. – Guardian
Fears of a Labour tax raid have prompted entrepreneurs to speed up plans to sell their businesses ahead of a looming capital gains increase, according to new research. Three in 10 business owners with a turnover of at least £5m said they had accelerated plans to sell their companies in the past year, according to wealth manager Evelyn Partners. – Telegraph
Employers will be required by law to allow unionised staff to take part in diversity programmes during working hours as part of Angela Rayner’s sweeping overhaul of workers’ rights. The extra powers mean that so-called diversity pilgrims who work full-time on union duties can legally take time off for equality training or relevant preparation work while having any necessary accommodation costs covered. – Telegraph
The owner of Scottish Power will set out plans to double its multibillion-pound investment in Britain over the next five years, in one of the first of several deals expected to be announced as international business leaders arrive in London next week. Iberdrola, the Spanish energy group, will spend £24 billion on upgrading the high-voltage cables needed to transport power around the country and on building more wind farms, making Britain its largest destination for investment in the world. – The Times
The restaurant group TGI Fridays has agreed to pay workers the money they are owed after being made redundant, despite initially refusing to do so. More than 1,000 staff lost their jobs this week when 35 TGI Fridays branches were shut after a private equity led rescue failed. Workers were told they had been made redundant via a video call from head office with one hour’s notice. Others found out through social media platforms or turned up to work to find the restaurant padlocked, with their belongings still inside. – The Times