Risk Channel delivers the latest, most relevant and useful business intelligence to key decision makers and influencers, each weekday morning.

FTSE 100 chief executives will earn more by midday today than the average worker will in an entire year, according to the High Pay Centre. The median annual pay for these CEOs is £4.4m, which is 113 times the £39,039 earned by the median full-time worker. This equates to £1,353.23 an hour. Andrew Speke, the interim director at the High Pay Centre, said: "The idea that executives, as a class, are individually contributing over 100 times more in value than the workers they rely on is simply not credible." Paul Nowak, general secretary of the Trades Union Congress, commented: "While millions of low- and middle-income workers are still struggling with the cost of living, those at the very top keep helping themselves to a huge slice of the pie."

 

The Guardian

The Times

Escape the Upside Down of Network Security

Legacy network security stacks are starting to look like a bad 80s throwback. Disconnected appliances. Constant maintenance. Hidden risks.

Meanwhile, modern enterprises are moving to a very different dimension.

This eBook explores how Secure Access Service Edge (SASE) replaces fragmented networking and security tools with a single, cloud-native service built for today’s risk landscape.

Written for risk and IT leaders, it explains why traditional architectures struggle with availability, resilience, and ongoing security updates, and how SASE helps organisations reduce complexity while improving protection and performance.

Inside, you’ll learn how to avoid single points of failure, eliminate costly hardware refresh cycles, and make capabilities like TLS inspection standard rather than optional.

If your organisation is still fighting threats with legacy tools, it may be time to find a way out of the Upside Down.

Download the eBook

 

Some investors are warning that geopolitical risks are being underestimated following the military actions of US President Donald Trump's administration in Venezuela over the weekend and the threat of further action in the Americas. "There should be broader geopolitical implications from this event, but in my view, the financial markets are not very efficient in pricing such risks accurately," said Tai Hui, chief market strategist for Asia-Pacific at J.P. Morgan Asset Management.

 

Reuters

An activist group has taken responsibility for the recent power outage in Berlin, describing it as a protest against energy policies that they deem unsustainable. The group claimed that their actions aimed to draw attention to the urgent need for climate action and reforms in energy consumption. Authorities are investigating the incident, which caused significant disruptions throughout the city, as they consider potential security implications.

 

Bloomberg

Chief financial officers at major UK firms are increasingly optimistic about technology investments and AI's potential to enhance productivity. A poll from Deloitte shows that nearly 80% of CFOs expect improved business performance and productivity growth over the next five years. Richard Houston, CEO of Deloitte UK, said: "CFOs are significantly more positive about improving performance through deploying AI." Despite rising risk appetite, external uncertainties remain a concern, with geopolitics cited as the top risk.

 

The Times

Governments in Malaysia, France, and India have condemned the social media platform X for allowing the circulation of offensive images that they believe promote harmful stereotypes. Officials from these countries expressed concerns that such content fosters division and undermines social harmony. The backlash underscores ongoing debates about content moderation and the responsibilities of social media companies in addressing inappropriate material.

 

Bloomberg

Credit card spending in the UK rose sharply in November, reaching nearly £78bn, according to Bank of England data. Annual growth in credit card borrowing rose from 10.9% in October to 12.1% in November - the biggest increase since January 2024. The data also shows that borrowing using other forms of consumer credit – including car dealership finance and personal loans – rose by £100m to £1.1bn. Martin Beck, chief economist at WPI Strategy, said: "It remains unclear whether higher credit card spending reflects improving confidence or a greater reliance on credit." Alex Kerr, UK economist at Capital Economics, said the data "adds to the evidence" that speculation over tax rises ahead of the Budget "didn't influence households' spending decisions too much."

 

Reuters

The Guardian

The Times

Interpath, KPMG's former restructuring unit, has agreed a deal that will see it sold to Bridgepoint. The deal, which values the company at £800m, sees Bridgepoint acquire the advisory firm from fellow private equity company HIG Europe. Interpath reported a pre-tax loss of £11m for the year ending March 28, 2025. This marks its third consecutive loss since it was spun out from KPMG in 2021, having posted losses of £10.6m and £10.2m in the two preceding years. It is noted that a new French division incurred significant setup costs, contributing to the operating loss. Despite the losses, revenue increased from £163.6m to £198.9m.

 

Sky News

Financial Times

City AM

KLM has finalised a new collective labour agreement (CLA) with its cabin crew unions, effective retroactively from March 1, 2025, to February 28, 2027. The agreement includes a 3.25% salary increase, with payments scheduled for December 2025, July 2026, and January 2027, plus a one-time net payment of €750 in January 2026. Changes also cover work schedules and employability. John van Dorland of FNV described the deal as “the best that could be achieved, but still a very modest outcome,” while CNV's Souleiman Amallah called it “a positive result.” KLM expressed satisfaction in reaching agreements amid cost-cutting efforts.

 

NL Times

Research for the Telegraph suggests that a number of high-paid workers are turning down promotions, cutting hours or donating to charity to avoid the UK’s £100,000 tax threshold. The analysis saw 43% of managers say they or their employees have deliberately reduced income to avoid punitive tax rates. Frozen thresholds and growing awareness of a tax trap which removes childcare benefits and tapers the personal allowance - creating effective marginal tax rates of 62% - have led many to boost pension contributions, use salary sacrifice schemes, cut hours, turn down promotions, retire early or donate to charity. Economists, tax experts and NHS leaders warn the cliff edge is irrational and damaging productivity. 

 

The Daily Telegraph

Japanese carmaker Toyota has told its employees in Venezuela to work from home following the Trump administration’s removal of President Nicolás Maduro over the weekend. Bloomberg notes that the company’s manufacturing site in Cumana has faced repeated disruptions due to the South American country’s protracted economic crisis. The remote working directive is not affecting sales and production, Toyota said.

 

Bloomberg

A new French law prohibiting the production and sale of cosmetics and most clothing containing per- and polyfluoroalkyl substances (PFAS) has come into force. Set to address significant health and environmental concerns, the legislation allows for exemptions only in certain industrial textiles where no alternatives exist. Additionally, it mandates regular testing of drinking water for these harmful substances to ensure public safety.

 

Euronews

France24

Belgium's family-owned Lotus Bakeries has turned a speculoos cookie into the globally popular Biscoff brand through decades of careful branding and international expansion. After gaining a cult following in the US, Lotus doubled down on Biscoff as its growth engine, building factories in North Carolina and Thailand, partnering with Mondelez to enter India, and leveraging coffee culture, social media and fast-food tie-ins to fuel demand. With Biscoff revenue topping US$700m in 2024, chief executive Jan Boone is aiming to cement Biscoff as a global brand with new factories and distribution partnerships.

 

The Wall Street Journal

The Organisation for Economic Cooperation and Development has finalised a deal exempting US multinational corporations from a 15% global minimum tax. Nearly 150 countries agreed to the plan, which is aimed at preventing profit shifting to low-tax jurisdictions. The most recent version of the deal waters down the 2021 agreement that sought to prevent multinational corporations from shifting earnings to low- or no-tax havens. Critics, including Zorka Milin from the FACT Coalition, argue the deal undermines progress in corporate taxation, and allows major US companies to continue using tax havens.

 

AP News

Bloomberg

The Independent

The Daily Telegraph

Nestlé has recalled certain batches of its SMA infant and follow-on formula after identifying a potential contamination with cereulide, a toxin that can cause nausea and vomiting. The company said there have been no confirmed illnesses and the recall is being carried out as a precaution, with refunds offered to customers and all other products deemed safe.

 

BBC News