Lloyds Banking Group's chief executive, Charlie Nunn, acknowledged concerns over the company's use of staff bank account data in pay negotiations, according to a BBC Business report. The revelation, which involved comparing employees' spending habits to the wider public, has sparked criticism and prompted Nunn to state that the bank has "definitely listened."
The controversy arose after Lloyds, the UK's largest lender, examined data from staff who banked with the institution. This included their saving rates and salary increases, particularly those of the lowest-paid workers. The bank then assessed this information against its customer data as part of pay negotiations. Nunn's comments came in response to the concerns raised, as reported by BBC Business.
In other business news, six companies linked to Sarah Ferguson, the former Duchess of York, are being wound down, according to documents filed with Companies House, as reported by BBC Business. Ferguson is the director of all six businesses, which are slated to be struck off the register in ten days unless legal cause is shown to prevent it. The firms' activities are unclear, although one is related to public relations and another to retail. Their closure follows further revelations from the Epstein files.
Meanwhile, in the technology sector, a significant gathering of leaders is taking place at the AI Impact Summit in India this week, as reported by BBC Technology and BBC Business. The summit brings together tech bosses, politicians, scientists, academics, and campaigners to discuss how to manage the AI revolution. The event is particularly notable because it is being held in the Global South, a region that risks being left behind in the AI race. Last year's AI Action Summit saw a power struggle between some Western countries.
In other news, Tamar Abrams, 69, found herself turning to the medication Ozempic after a difficult period in her life, according to a report in the New York Times. After the loss of her parents, a relationship ending, and retirement, Abrams struggled with her weight and health. She recalled the joyful commercials for Ozempic, which promoted the GLP-1 medication for diabetes and weight loss, and found herself humming the jingle.
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