Monday newspaper round-up: Tax increases, Lloyds bankers, Virgin Group

(Sharecast News) - Business leaders plan to cut costs and rein in hiring in response to government tax increases set out in the autumn budget, with employment expectations taking the sharpest tumble since the start of the coronavirus pandemic. A net two-thirds of finance directors said they did not expect to increase hiring levels this year, a four-year high, with a net 26% feeling more pessimistic about the prospects for their business than three months ago, the first time sentiment had slipped into negative territory in 18 months, according to the latest survey by the accountancy firm Deloitte. - Guardian Senior bankers at Lloyds could be at risk of having their bonuses docked if they fail to follow company orders to be in the office at least two days a week. Lloyds Banking Group - which owns the Halifax, Lloyds and Bank of Scotland brands - has confirmed it is reviewing office attendance as part of performance-related bonus targets for its most senior employees. That includes hybrid staff who, in 2023, were ordered to be in the office at least 40% of the time, which typically amounts to two days a week for those on full-time contracts. - Guardian

Commuters are really kicking up a stink at my local train station, fed up with constant delays and cancellations as more of them are summoned back to the office. The local MP has been contacted on a daily basis by furious constituents, prompting her to tell rail bosses that their service in the area is "unacceptable". It will be the same story across the country. My station isn't even up there as a worst offender (for punctuality, rather than cancellations, it is actually slightly better than the national average). - Telegraph

Sir Richard Branson's Virgin Group is preparing an order for a dozen high-speed trains as it bids to break Eurostar's monopoly on services through the Channel Tunnel. Virgin aims to sign a contract for the trains as early as this quarter to get ahead of startup Evolyn, which is also putting together plans to run trains from London to the continent. - Telegraph

Britain's chemicals industry is heading for "extinction", Sir Jim Ratcliffe has warned as the petrochemicals tycoon blames high energy prices and carbon taxes for forcing the closure of Ineos's synthetic ethanol plant at Grangemouth. The facility at the vast complex in Scotland, which mainly supplied the healthcare and pharmaceutical sectors, closed on Wednesday, resulting in a net loss of 80 jobs and affecting more than 500 indirect roles in the wider economy. - The Times