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Monday newspaper round-up: Barclays, British Land, Saudi Aramco
(Sharecast News) - Barclays could save itself more than £200m a year after deciding to take a break from paying into its staff pension scheme, despite the fund's assets plummeting by £10bn in 12 months. Barclays last month declared profits of £7bn for 2022, but its "contribution holiday" means the cost of the payments it would normally make towards former employee's retirement benefits will now have to be met by the pension scheme - prompting anger among some ex-staff. - Guardian A stack of factory-made modular labs, with a roof terrace and grass growing on top, has sprung up at Canada Water in south-east London and is due to open in late May. With growing demand for lab space, the company behind them, British Land, is unveiling plans for a large new research building on Monday, part of a nascent life sciences cluster south of the Thames. - Guardian
The chief executive of Wagamama has said chain restaurants will never be as ubiquitous as they were pre-pandemic, but insisted they will not disappear from Britain's high streets altogether. Andy Hornby, chief executive of The Restaurant Group, which owns the Japanese chain, told The Telegraph: "I don't think the [casual dining] industry will ever be quite as big as it was." - Telegraph
The world's biggest oil producer has reported annual profits of $161.1 billion after prices surged over the past year, eclipsing the record earnings made by its peers. Saudi Aramco also cited higher volumes sold and improved margins for refined products as it became the latest energy multinational to outline record earnings. - The Times
The former technology chief of Bulb has launched a new venture that aims to sign up energy suppliers to use the failed company's customer service platform. John Marshall is now chief executive of Zoa, which is controlled by the London-listed Sequoia Economic Infrastructure Income Fund, a secured creditor to Bulb that has taken control of its technology assets as part-repayment for a loan. - The Times
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