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BAE workers can continue to strike following High Court decision

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BAE workers can continue to strike following High Court decision



Workers at BAE Systems in Lancashire can continue to strike following the dismissal of a bid for a High Court injunction aimed at blocking industrial action.

The company asked a judge to order Unite the Union members at the Warton and Samlesbury sites to cease their planned action in a last-minute hearing on Tuesday.

Strikes were due to start on Wednesday and last until November 25, according to the union.

But Mr Justice Soole refused to grant the injunction on Thursday.

He said: “Having considered the evidence, the application is dismissed. I will give my reasons later.”

Bruce Carr KC, for BAE, said in written submissions for the hearing on Tuesday that Unite had given notice to ballot on September 24 after rejecting the 2025 pay offer.

He said that following this, union representatives told members not to train managers in aircraft testing and that this amounted to a call to industrial action, therefore invalidating the lawfulness of the upcoming strike.

The barrister added: “It is the claimant’s case that the evidence clearly demonstrates that at that meeting and thereafter, Unite called on its members employed as quality professionals, to take industrial action in the form of refusing to undertake the training of managers employed by the claimant.”

Mr Carr said that in mid-September BAE wanted the training after “a number of absences” and while it was “considering business continuity plans in the event of possible industrial action”.

This training occurred between September 22 and October 10, after which the quality professionals refused to continue following instructions from the union, Mr Carr said.

These workers breached their duty to BAE because they are “required to act in the best interests of the company to carry out such duties in respect of their appointment as they may reasonably be called upon to undertake”, the barrister added.

Oliver Segal KC, for Unite, said the training was a “request”, not an “instruction” and therefore workers who refused were not in breach of their contract.

He described managers being trained for the testing role as “unprecedented” and that union representatives had asked workers to get the “request” in writing while they seek legal advice.

In written submissions, he said: “The evidence in this case is that the defendant never even suggested, let alone ‘called’ on, its members who are quality professionals to refuse to comply with a management instruction to provide training to management executives.”

Mr Segal said BAE was “ludicrously interpreting” emails between union representatives discussing the training as instructions for union members not to comply.

The barrister also said there was no refusal to train the managers after October 10 and that one of the quality professionals gave a statement saying his team never stopped providing training.

He continued: “The reality is that this application is a last-minute, desperate attempt by the claimant to neuter the industrial action, which is both factually mis-premised and legally misconceived.”

Mr Carr said on Thursday that BAE is considering an appeal.

A BAE spokesperson said: “We note the ruling by the High Court. We believe we had good grounds for the legal challenge and will consider the court’s judgment.

“We respect the right of employees to engage in industrial action and remain committed to a partnership approach with all our trade union groups.”

The PA news agency understands that less than 70 employees out of 12,000 are involved in the strike action while production lines are continuing to operate.

Speaking after the decision, Unite general secretary Sharon Graham said: “This unsuccessful attempt by BAE to prevent a lawful strike will have severely damaged the goodwill it has with its workforce.

“BAE is a multibillion-pound company making record profits.

“It now needs to come back to the negotiating table with an acceptable offer for striking workers in its Air division, rather than wasting money on pointless legal threats.

“Otherwise, our members will be taking strike action throughout November in their fight for fair pay.”

Rachel Halliday of Thompsons Solicitors, which represented Unite, added: “This is a clear win for Unite and for workers everywhere.

“The High Court has confirmed that the union acted lawfully at every stage, and that BAE’s attempt to block strike action had no basis.

“Today’s decision will send a strong message to employers that the courts cannot be used to silence workers standing up for fair pay and respect.

“Unite acted responsibly throughout, adhering to all statutory requirements, and this important decision reinforces the union’s members’ right to strike.

“Thompsons is proud to have stood with Unite in defending this principle. Working people have the right to be heard – and to take lawful industrial action when negotiations fail.”



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Logistics IPO: Yatayat Corporation files Sebi papers to raise funds; growth surge puts road freight firm in focus – The Times of India

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Logistics IPO: Yatayat Corporation files Sebi papers to raise funds; growth surge puts road freight firm in focus – The Times of India


Logistics and transportation services provider Yatayat Corporation India Ltd has filed draft papers with markets regulator Sebi to raise funds through an initial public offering, as the road freight segment continues to see strong demand, PTI reported.According to the draft red herring prospectus (DRHP), the proposed IPO will comprise a fresh issue of up to 77 lakh equity shares along with an offer for sale (OFS) of up to 56 lakh equity shares by a promoter, taking the total offer size to as many as 1.33 crore shares.The company said proceeds from the fresh issue will be used primarily to meet working capital requirements and for general corporate purposes.Yatayat Corporation operates in the road logistics space, with a focus on Full Truck Load (FTL) transportation, offering point-to-point freight movement across major logistics corridors in the country. Its operations are supported by a network of 34 branches and one warehouse spread across 12 states.The company services a diversified client base spanning agriculture and agri-inputs, building materials and construction, chemicals and allied industries, energy and power, engineering and industrial manufacturing, IT and technology solutions, metals and mining, textiles and apparel, as well as other industrial and consumer segments.On the financial front, Yatayat Corporation reported revenue from operations of Rs 448.13 crore in FY25, up from Rs 348.34 crore in FY24. Profit after tax rose to Rs 30 crore in FY25, compared with Rs 15 crore in the previous financial year.Unistone Capital has been appointed as the sole book-running lead manager to the issue, the draft papers showed.



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WH Smith to claw back £1.5m from ex-bosses after accounting scandal

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WH Smith to claw back £1.5m from ex-bosses after accounting scandal



WH Smith is to claw back around £1.5 million in overpaid bonuses from former bosses following an accounting blunder at the retail firm’s US arm.

The travel retail specialist confirmed last week it is being investigated by the UK’s financial watchdog after it overstated profits for its North American business by as much as £50 million due to issues with its audit process.

Carl Cowling resigned as WH Smith’s chief executive last month after a report by Deloitte confirmed the accounting problems.

The company said on Wednesday in its annual report that annual bonus payments for Mr Cowling and former finance chief Robert Moorhead have been recalculated for 2023 and 2024.

It has also recalculated the payment of long-term share bonuses from a 2021 scheme for executives.

WH Smith said it overpaid Mr Cowling £516,000 in cash and 60,182 deferred shares worth £374,933 based on the latest closing price for the firm.

It overpaid Mr Moorhead by £372,000 in cash and £272,493 worth of shares.

It said it would now seek to “claw back” both of these payments from the former bosses.

WH Smith also confirmed that it did not pay annual or long-term bonuses to Mr Cowling for the past financial year.

As a result, his total pay deal tumbled to £724,000 for the year to August 2025, from £2.71 million for the same period a year earlier.

The retailer told investors last week that it had kickstarted a remediation plan, which aims to strengthen its governance and controls, ensure processes are aligned across the group, and enact cultural change involving training and monitoring.

Its board is currently searching for a permanent group chief executive.

WH Smith is now focused solely on its 1,300 shops in global travel locations, including at airports and train stations, after selling its high street chain of about 480 shops to Hobbycraft owner Modella Capital in June.

As part of the deal, the WH Smith name is disappearing from British high streets and being replaced by brand TGJones.

The slimmed-down business reported a pre-tax profit of £108 million for the year to the end of August, excluding what it deems one-off costs.



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RBI Postpones Phase 2 Cheque Clearing, Modifies Presentation And Confirmation Hours

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RBI Postpones Phase 2 Cheque Clearing, Modifies Presentation And Confirmation Hours


RBI Guidelines For Cheque Clearing Time: The Reserve Bank of India (RBI) said on Wednesday that it has delayed the rollout of Phase 2 of the faster cheque clearance system by banks. The new phase was earlier set to begin on January 3, 2026. The RBI also announced changes to cheque processing timings. Cheques can now be presented between 9 am and 3 pm, while banks will have time from 9 am to 7 pm to confirm or reject them.

“Implementation of phase 2 is being postponed until further notice, to allow more time to banks to streamline their processes,” according to the RBI statement. Phase 1 of the system, which was implemented earlier this year, will continue to operate as usual.

RBI Phase 2 Guidelines

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Under the proposed Phase 2 guidelines, banks are required to clear or reject any cheque deposited over the counter within just three hours. This is expected to be a major relief for customers, making payments faster and more efficient once the process starts.

RBI Rolls Out Cheque Truncation System

The RBI introduced continuous clearance under the Cheque Truncation System (CTS) to speed up and simplify cheque clearing. Instead of the old batch system, cheques are now processed using digital images and electronic data. This means banks no longer need to physically transfer cheques, making the process faster and more efficient.

RBI Phase 1 Single Presentation Window

From October 4, 2025, Phase 1 brought in a single, continuous cheque presentation window during the day. Instead of waiting for fixed clearing batches, banks now scan cheques as they receive them and send the cheque images along with MICR data to the clearing house.

Once the drawee bank gets the cheque image, it checks the details and sends an approval or rejection electronically. If the bank does not respond by the end of the confirmation window, the cheque is automatically treated as approved and settled.

RBI Phase 2 Plan For Cheque Clearance 

Phase 2, which was planned to start from January 3, 2026, was meant to further expedite the clearance of cheques to ensure greater convenience for bank customers. Banks would get just three hours to approve or reject a cheque after receiving its image.

If a bank failed to respond within this time, the cheque would be automatically approved and settled. This would have pushed banks to process cheques more quickly and helped customers get their money sooner. However, since phase 2 has been deferred, cheque clearing will continue under the present Phase 1 system, which does not have to follow the three-hour deadline. (With IANS Inputs)



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