Less Ads, More Data, More Tools Register for FREE

Pin to quick picksPhoenix Group Holdings Share News (PHNX)

Share Price Information for Phoenix Group Holdings (PHNX)

London Stock Exchange
Share Price is delayed by 15 minutes
Get Live Data
Share Price: 480.60
Bid: 481.00
Ask: 481.20
Change: -2.20 (-0.46%)
Spread: 0.20 (0.042%)
Open: 482.00
High: 486.00
Low: 477.80
Prev. Close: 482.80
PHNX Live PriceLast checked at -

Watchlists are a member only feature

Login to your account

Alerts are a premium feature

Login to your account

CBI future in doubt as firms pull membership after second allegation

Fri, 21st Apr 2023 17:43

(Alliance News) - Some of the biggest companies in the UK have quit the Confederation of British Industry following a second rape allegation from a woman working for the business group.

NatWest Group PLC joined the John Lewis Partnership, BMW AG and Virgin Media O2 in cancelling their involvement with the CBI, casting doubt over the future of the business group.

Aviva PLC, MasterCard Inc, Phoenix Group Holdings PLC, Zurich Insurance Group AG, Vitality, B&Q owner Kingfisher PLC and People's Partnership also pulled their membership of the group after the latest in a series of misconduct allegations facing the CBI.

Other major employers – such as Asda, Lloyds Banking Group PLC, Unilever PLC, Scottish Power, the British Beer & Pub Association, and Shell PLC – have also suspended all activity with the lobbying group.

Earlier this month, the UK government said it would pause all engagement with the CBI after initial reports over misconduct at the group.

The crisis facing the trade group deepened after The Guardian reported on Friday that the woman claimed she was raped by two male colleagues.

The woman claimed the alleged rape took place while she was unconscious following a night-out while working at a CBI office abroad.

She said she had no recollection of the rape itself but had described in detail the physical signs that led her to believe she was raped, and was later presented in the office with an explicit photograph.

It is the second claim from a woman that she was a victim of rape at the organisation.

Previously, a member of staff alleged that she was attacked by a manager on a summer boat party in 2019.

Details of the new rape allegation have been passed on to police.

City of London Police were already investigating the previous rape allegation, alongside a series of other misconduct claims from about a dozen workers.

Separately, The Guardian also reported on Friday that a woman based at the organisation's London office claimed she was stalked by a male colleague in 2018.

In response, CBI President Brian McBride said: "The latest allegations put to us by The Guardian are abhorrent and our hearts go out to any women who have been victims of the behaviour described.

"While the CBI was not previously aware of the most serious allegations, it is vital that they are thoroughly investigated now and we are liaising closely with the police to help ensure any perpetrators are brought to justice.

"We recognise the substance of the harassment report outlined as relating to an allegation made and investigated in January 2018.

"The finding of harassment was upheld and a sanction was imposed.

"However, the CBI does not recognise many of the most serious elements of The Guardian story relating to harassment, including the assertion that the individual had told the CBI of feelings of a sexual and violent nature towards the victim; and that he had followed her home."

The CBI added it is expecting a further report from the law firm conducting an internal investigation later on Friday and will announce steps to "bring about the wider change that is needed" early next week.

On Thursday, the CBI confirmed it passed fresh information to the police regarding a report of a "serious criminal offence".

It said it was "liaising closely" with the authorities and has urged anyone with further information to come forward.

Separately, former CBI director-general Tony Danker was sacked last week after being accused of making unwanted contact with a woman who works for the organisation.

On Wednesday, he said his reputation has been "totally destroyed" by the allegation and claimed he has been made a "fall guy" for a wider crisis.

Danker told the BBC his name had been wrongly associated with separate claims, including the rapes which allegedly happened before he joined the CBI.

After initial allegations, the business group also suspended three other employees and hired a law firm, Fox Williams, to carry out an internal investigation.

source: PA

Copyright 2023 Alliance News Ltd. All Rights Reserved.

More News
12 Jan 2022 09:04

LONDON MARKET OPEN: Stocks rise; Sainsbury's bumps up guidance

LONDON MARKET OPEN: Stocks rise; Sainsbury's bumps up guidance

Read more
12 Jan 2022 07:49

LONDON MARKET PRE-OPEN: JD Sports and Sainsbury's lift guidance

LONDON MARKET PRE-OPEN: JD Sports and Sainsbury's lift guidance

Read more
11 Jan 2022 19:44

TOP NEWS: Swiss Re to sell 6.6% stake in Phoenix Group

TOP NEWS: Swiss Re to sell 6.6% stake in Phoenix Group

Read more
11 Jan 2022 12:19

LONDON MARKET MIDDAY: Stocks rise ahead of Powell's Senate hearing

LONDON MARKET MIDDAY: Stocks rise ahead of Powell's Senate hearing

Read more
11 Jan 2022 09:06

LONDON MARKET OPEN: Stocks rise; Darktrace surges on bright outlook

LONDON MARKET OPEN: Stocks rise; Darktrace surges on bright outlook

Read more
13 Dec 2021 09:46

LONDON BROKER RATINGS: HSBC lifts WPP to Buy, cuts Wizz Air to Reduce

LONDON BROKER RATINGS: HSBC lifts WPP to Buy, cuts Wizz Air to Reduce

Read more
30 Nov 2021 10:44

UPDATE 2-Clara-Pensions opens for UK superfund deals after watchdog clearance

(Recasts, adds minister, adviser)By Carolyn CohnLONDON, Nov 30 (Reuters) - Pensions consolidator Clara-Pensions is open to deals to manage UK company final salary benefit schemes after becoming the first British firm to win regulatory clearance to...

Read more
30 Nov 2021 10:44

UPDATE 1-Clara-Pensions becomes first pensions superfund to pass UK regulator's tests

(Adds quotes, background)LONDON, Nov 30 (Reuters) - Clara-Pensions has become the first pensions superfund to pass the British pensions watchdog's assessment process, enabling it to manage company defined benefit, or final salary, pension schemes,...

Read more
4 Oct 2021 09:06

UPDATE 1-Insurer Phoenix sets carbon targets for $339 bln of investments

(Adds CEO comments)Oct 4 (Reuters) - Phoenix Group laid out new carbon reduction targets on Monday, which it said will cut the emission intensity of 250 billion pounds ($338.75 billion) of investments by at least half in less than a decade.The blu...

Read more
1 Oct 2021 09:38

LONDON BROKER RATINGS: HSS Hire and Fullers get upgrades

LONDON BROKER RATINGS: HSS Hire and Fullers get upgrades

Read more
1 Oct 2021 08:18

LONDON BRIEFING: AO World sees pandemic boost fade; Greencore rebounds

LONDON BRIEFING: AO World sees pandemic boost fade; Greencore rebounds

Read more
27 Sep 2021 13:00

IN BRIEF: Phoenix Group General Counsel Zentner buys shares

IN BRIEF: Phoenix Group General Counsel Zentner buys shares

Read more
24 Sep 2021 09:40

LONDON BROKER RATINGS: Citi raises LondonMetric to Buy from Neutral

LONDON BROKER RATINGS: Citi raises LondonMetric to Buy from Neutral

Read more
24 Sep 2021 08:04

LONDON BRIEFING: AIM IPO gives Peel Hunt GBP280 million market value

LONDON BRIEFING: AIM IPO gives Peel Hunt GBP280 million market value

Read more
10 Sep 2021 09:47

LONDON BROKER RATINGS: UBS ups Purplebricks; Liberum raises SIG to Buy

LONDON BROKER RATINGS: UBS ups Purplebricks; Liberum raises SIG to Buy

Read more

Login to your account

Don't have an account? Click here to register.

Quickpicks are a member only feature

Login to your account

Don't have an account? Click here to register.