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British employers have been warned that forcing staff to have the coronavirus vaccination could amount to a criminal offence, amid concerns over “no jab, no job” policies emerging.

Only care home staff in England will need to have both vaccine doses to work under current legislation, with a consultation taking place on whether to extend this to NHS employees.

But in the US, tech giants Facebook and Google are among those to say their staff will have to show proof they have been fully vaccinated before returning to their workplaces.

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The equalities watchdog has urged companies to be “proportionate” and “non-discriminatory”, while the UK government has stressed that firms proposing to check the vaccination status of staff “will need to consider how this fits with their legal obligations”.

Advice from the Chartered Institute of Personnel and Development (CIPD) says “mandatory vaccination is an intrusion on an employee’s body and may discriminate on the basis of disability, or religious or philosophical belief.”

“Employers cannot forcibly vaccinate employees or potential employees, unless they work in a sector (such as care homes) where a legal requirement is introduced,” it states.

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“Enforced vaccination would be a criminal offence against the person and an unlawful injury leading to claims such as assault and battery.”

The CIPD – which represents human resources professionals and has more than 160,000 members – adds that the European Convention on Human Rights “protects people from being interfered with physically or psychologically (which includes mandatory vaccination)”.

Transport Secretary Grant Shapps has suggested it is “a good idea” for people to be double jabbed before returning to the office but said it will not be required by legislation.

He told Sky News: “We are not going to make that legislation that every adult has to be double vaccinated before they go back to the office, but yes it is a good idea and yes some companies will require it.”

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‘Good idea’ to get two jabs before returning to office – Shapps

A government spokesperson told Sky News on Saturday: “While we would welcome employers encouraging their staff to be vaccinated, employers who propose to check the vaccination status of staff will need to consider how this fits with their legal obligations under employment, equalities, data protection, and health and safety law.”

The Equality and Human Rights Commission (EHRC) has said it understands that firms will want to protect their staff and their customers by requiring employees to be vaccinated, but it advises them to take other factors into consideration.

An EHRC spokesman said: “Employers are right to want to protect their staff and their customers, particularly in contexts where people are at risk, such as care homes.

“However, requirements must be proportionate, non-discriminatory and make provision for those who cannot be vaccinated for medical reasons.”

Parliament approved legislation earlier this month to introduce compulsory COVID vaccinations for care home staff in England.

Care home resident Joan Potts, aged 102, has received a first dose of a COVID vaccine. Pic: AP
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Care home staff in England will have to be fully vaccinated to work. Pic: AP

From the autumn, anyone working in a Care Quality Commission-registered care home in England must have two doses of the vaccine unless they have a medical exemption.

But the impact of such a policy on jobs is not fully understood by the government.

Its own best estimate suggests around 40,000 care home staff risk being lost as a result of the compulsory vaccinations, adding that it could cost the industry £100m to replace.

But the government is yet to compile a full impact assessment of the policy, something which frustrated several Tory MPs earlier this month when they discussed the issue.

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On Friday, health minister Helen Whately, in response to a written parliamentary question, maintained the assessment will be “published shortly”.

By the end of September, when all UK adults are expected to have been offered both doses of the COVID vaccine, the government plans to make full vaccination a condition of entry to a number of venues where large crowds gather.

However a number of Conservative MPs have told Sky News they do not think the government will follow through and actually introduce domestic vaccine passports.

Sir Graham Brady, chairman of the 1922 Committee of backbench Tories, said that vaccine passports for domestic use would be a “massive step and a misguided one”.

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Aberdeen in exclusive talks to sell investment tips site Finimize

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Aberdeen in exclusive talks to sell investment tips site Finimize

Aberdeen is in exclusive talks to sell Finimize, the investment insights platform it bought just four years ago, as its new chief executive unwinds another chunk of his predecessor’s legacy.

Sky News understands the FTSE-250 asset management group has narrowed its search for a buyer for Finimize to a single party.

The exclusive talks with the buyer – whose identity was unclear on Sunday – have been ongoing for at least a month, according to insiders.

City sources said Brave Bison, the London-listed marketing group that operates a number of community-based businesses, was among the parties that had previously held talks with Aberdeen about a deal.

Finimize charges an annual subscription fee for investment tips, and had more than one million subscribers to its newsletter at the time of Aberdeen’s £87m purchase of the business.

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The sale of Finimize would represent another step in chief executive Jason Windsor’s reshaping of the company, which now has a market capitalisation of £3.6bn.

Mr Windsor, who replaced Steven Bird last year, also ditched the company’s much-ridiculed Abrdn branding, with the group having been formed in 2017 from the merger of Aberdeen Asset Management and Standard Life.

Investors were left underwhelmed by the merger, which originally valued the enlarged company at about £11bn.

On Friday, Aberdeen shares closed at 194.7p, up 30% during the last year.

Aberdeen declined to comment.

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City veteran Kheraj in contention to chair banking giant HSBC

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City veteran Kheraj in contention to chair banking giant HSBC

Naguib Kheraj, the City veteran, has been shortlisted to become the next chairman of HSBC Holdings, Europe’s biggest bank.

Sky News can reveal that Mr Kheraj, a former Barclays finance chief, is among a small number of contenders currently being considered to replace Sir Mark Tucker.

HSBC, which has a market capitalisation of £165.4bn, has been conducting a search for Sir Mark’s successor since the start of the year.

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In June, Sky News revealed that the former McKinsey boss Kevin Sneader was among the candidates being considered to lead the bank, although it was unclear this weekend whether he remained in the process.

Mr Kheraj would, in many respects, be seen as a solid choice for the job.

He is familiar with HSBC’s core markets in Asia, having spent several years on the board of Standard Chartered, the FTSE-100 bank, latterly as deputy chairman.

He also possesses extensive experience as a chairman, having led the privately held pensions insurer Rothesay Life, while he now chairs Petershill Partners, the London-listed private equity investment group backed by Goldman Sachs.

Mr Kheraj’s other interests have included acting as an adviser to the Aga Khan Development Board and The Wellcome Trust, as well as the Financial Services Authority.

He spent 12 years at Barclays, holding board roles for much of that time, before he went on to become chief executive of JP Morgan Cazenove, the London-based investment bank.

HSBC’s shares have soared over the last year, rising by close to 50%, despite the headwinds posed by President Donald Trump’s sweeping global tariffs regime.

In June, the bank said that Sir Mark would be replaced on an interim basis by Brendan Nelson, one of its existing board members, while it continued the search for a permanent successor.

Ann Godbehere, HSBC’s senior independent director, said at the time: “The nomination and corporate governance committee continues to make progress on the succession process for the next HSBC group chair.

“Our focus is on securing the best candidate to lead the board and wider group over the next phase of our growth and development.”

Sky News revealed late last year that MWM, the headhunter founded by Anna Mann, a prominent figure in the executive search sector, was advising HSBC on the process.

Since then, at least one other firm has been drafted in to work on the mandate.

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Sir Mark, who has chaired HSBC since 2017, steps down at the end of next month to become non-executive chair of AIA, the Asian insurer he used to run.

He will continue to advise HSBC’s board during the hunt for his long-term successor.

As a financial behemoth with deep ties to both China and the US, HSBC is deeply exposed to escalating trade and diplomatic tensions between the two countries.

When he was appointed, Mr Tucker became the first outsider to take the post in the bank’s 152-year history – which has a big presence on the high street thanks to its acquisition of the Midland Bank in 1992.

He oversaw a rapid change of leadership, appointing bank veteran John Flint to replace Stuart Gulliver as chief executive.

The transition did not work out, however, with Mr Tucker deciding to sack Mr Flint after just 18 months.

He was replaced on an interim basis by Noel Quinn in the summer of 2018, with that change becoming permanent in April 2020.

Mr Quinn spent a further four years in the post before deciding to step down, and in July 2024 he was succeeded by Georges Elhedery, a long-serving executive in HSBC’s markets unit, and more recently the bank’s chief financial officer.

The new chief’s first big move in the top job was to unveil a sweeping reorganisation of HSBC that sees it reshaped into eastern markets and western markets businesses.

He also decided to merge its commercial and investment banking operations into a single division.

The restructuring, which Mr Elhedery said would “result in a simpler, more dynamic, and agile organisation” has drawn a mixed reaction from analysts, although it has not interrupted a strong run for the stock.

During Sir Mark’s tenure, HSBC has also continued to exit non-core markets, selling operations in countries such as Canada and France as it has sharpened its focus on its Asian businesses.

On Friday, HSBC’s London-listed shares closed at 946.7p.

HSBC has been contacted for comment.

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Bank shares take fright as budget tax hike is floated

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Bank shares take fright as budget tax hike is floated

Shares in UK banks have fallen sharply on the back of a report which urges the chancellor to place their profits in her sights at the coming budget.

As Rachel Reeves stares down a growing deficit – estimated at between £20bn-£40bn heading into the autumn – the Institute for Public Policy Research (IPPR) said there was an opportunity for a windfall by closing a loophole.

It recommended a new levy on the interest UK lenders receive from the Bank of England, amounting to £22bn a year, on reserves held as a result of the Bank’s historic quantitative easing, or bond-buying, programme.

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It was first introduced at the height of the financial crisis, in 2009.

The left-leaning think-tank said the money received by banks amounted to a subsidy and suggested £8bn could be taken from them annually to pay for public services.

It argued that the loss-making scheme – a consequence of rising interest rates since 2021 – had left taxpayers footing the bill unfairly as the Treasury has to cover any loss.

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Why taxes might go up

The Bank recently estimated the total hit would amount to £115bn over the course of its lifetime.

The publication of the report coincided with a story in the Financial Times which spoke of growing fears within the banking sector that it was firmly in the chancellor’s sights.

Her first budget, in late October last year, put businesses on the hook for the bulk of its tax-raising measures.

Ms Reeves is under pressure to find more money from somewhere as she has ruled out breaking her own fiscal rules to help secure the cash she needs through heightened borrowing.

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Is Labour plotting a ‘wealth tax’?

Other measures understood to be under consideration include a wealth tax, new property tax and a shake-up that could lead to a replacement for council tax.

Analysts at Exane told clients in a note: “In the last couple of years, the chancellor has been protective of the banks and has avoided raising taxes.

“However, public finances may require additional cash and pressures for a bank tax from within the Labour party seem to be rising,” it concluded.

The investor flight saw shares in Lloyds and NatWest plunge by more than 5%. Those for Barclays were more than 4% lower at one stage.

A spokesperson for the Treasury said the best way to strengthen public finances was to speed up economic growth.

“Changes to tax and spend policy are not the only ways of doing this, as seen with our planning reforms,” they added.

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