Sunday newspaper round-up: Hezbollah, Economic pain, Wealth tax

25th Aug 2024 21:27

(Sharecast News) - Approximately 100 Israeli fighter jets launched strikes on around 270 targets located in over 40 southern Lebanese towns and villages. The set of strikes was one of the biggest between the two sides since fighting resumed in October. The bulk of the strikes were against short-range rocket launchers that could be used to hit northern Israel. In response, terrorist group Hezbollah fired over 320 Katyusha rockets at 11 military targets inside Israel. Most projectiles were stopped or hit open areas. - The Sunday Times

Cabinet office minister Pat McFadden told Britons to expect more economic pain as the government reins in spending. "I understand there are people who are concerned about tough decisions, but it won't be the last tough decision that we have to make in government," McFadden told Sky News. The minister was referring to the decision to stop winter fuel payments for millions of pensioners. He added that pension credit and the pensions triple lock should help lessen the pain of poorer pensioners. - Guardian

Britain's second largest trade union, Unite, will ask the new government to put in place an emergency 1% wealth tax on the assets of the super-rich. That, Unite said, would provide for a 10% pay hike for public sector workers and allow NHS to fill 100,000 vacancies. Nonetheless, Labour MPs and ministers think that the Trades Union Congress next month, where the demand will be made, will see the truce between many unions and Labour start to break down. - Guardian

Nearly half of shareholders at Smith & Nephew came out against plans to boost company boss Deepak Nath's pay. Should he hit all of his targets, Nath stands to make as much as £9.3m. Pearson meanwhile has become the only company at which over a fifth of shareholders have balked at their executives' pay two years in a row. A revolt is also brewing at Ashtead, given that its chief executive officer Brendan Hogan's pay may be nearly doubled. - The Financial Mail on Sunday

Marks & Spencer may open a range of clothing boutiques in response to the surge in demand for its lingerie and cashmere jumpers that has seen it reverse years of falling fashion sales. A trial of the new boutiques will open at London's Battersea Power Station later in 2024. The company's fashion business is seeing a revival in demand thanks to its strategy of focusing on younger customers. - The Sunday Telegraph