In a stark reflection of its recent financial woes, British luxury brand Burberry is poised to lose its place in the FTSE 100 index. The quarterly shake-up of the index, set to be announced next week, is expected to confirm Burberry’s demotion, as the company’s market value has fallen below the threshold required to maintain […]

Starbucks’ incoming chief executive, Brian Niccol, has faced criticism for his unconventional commuting arrangement. According to his offer letter, Niccol is not required to relocate to Starbucks’ Seattle headquarters; instead, he will commute from Newport Beach, California, using a private jet. This arrangement includes Starbucks providing him with a small remote office in Newport Beach […]

A proposed £15 billion merger between Vodafone and Three UK aims to create the largest mobile phone operator in the country, potentially impacting up to 1 million Three customers who may struggle to find cheaper alternatives, according to the Unite union. The union is urging the Competition and Markets Authority (CMA) to block the merger, […]

The auditing giant PwC China has reportedly informed its clients that it anticipates a six-month ban from Chinese authorities and a substantial fine due to its role in auditing the now-collapsed property developer Evergrande. According to the Financial Times, PwC expects the ban, which will prevent the firm from conducting regulated activities such as signing […]

The Trades Union Congress (TUC) is preparing to vote next month on a motion aimed at making “pay restoration” deals a key focus in their campaigns with the Labour government. These deals are intended to provide above-inflation pay increases for public sector workers who have faced a decade of real-term salary reductions. Matt Wrack, TUC […]

The UK government’s borrowing figures for July have surpassed expectations, reaching £3.1 billion, which is more than double the amount recorded in the same period last year. This higher deficit has intensified the ongoing debate between the Labour government and the Conservative opposition regarding the state of the nation’s public finances. According to the Office […]

Income tax receipts soared to an impressive £32.7 billion in July, marking the highest figure for that month since records began in 2008, according to the latest official data. This significant increase highlights the government’s reliance on revenue generated by freezing various tax thresholds for an extended period. The freeze on income tax and national […]

Ithaca Energy, a prominent North Sea energy firm, has reported a significant drop in its interim profit due to reduced production and declining gas prices. The company’s production decreased by nearly 30%, and gas prices also fell. Despite these challenges, Ithaca remains optimistic about its future, especially with its impending acquisition of most of Eni’s […]

The battle for control over Paramount Global has escalated with media mogul Edgar Bronfman Jr. increasing his offer to an impressive $6 billion. This development directly challenges the planned acquisition by David Ellison, son of billionaire Larry Ellison, and his company Skydance Media. Bronfman, who currently chairs the sports-focused streaming platform Fubo, has extensive experience, […]

The hiring market remains stagnant, with no signs of an imminent recovery. This is highlighted by a more than 50% drop in annual profits at Hays, one of Britain’s leading recruitment firms. Over the past year, Hays has faced “increasingly challenging market conditions,” as businesses are hesitant to hire and employees are choosing to remain […]

In a surprising turn of events, Ford Motor Company has decided to abandon its plans to manufacture a three-row electric sports utility vehicle (SUV) and will instead produce a hybrid model. This change is a response to the lukewarm enthusiasm from car buyers towards electric vehicles and the rising competition in the market, which is […]

The pound has reached a 13-month high against the dollar, trading at $1.3118, as British companies reported their fastest growth in four months during August. According to the latest S&P flash survey of purchasing managers, factors such as stronger economic growth, improved job creation, falling inflation, and lower interest rates have contributed to increased output […]

Once a beloved supermarket chain known for its “everyday low prices,” wide product selection, and friendly service, Asda has experienced a significant decline in recent years. Factors such as rising prices, declining standards, increased competition, and operational missteps have led to disillusionment among many of its former customers, resulting in a notable drop in market […]

In a significant turn of events, billionaire media investor Edgar Bronfman Jr. has raised up to $5.5 billion to enhance his last-minute offer for Paramount Global, potentially complicating the company’s existing agreement with Skydance Media, according to sources familiar with the situation. Bronfman’s initial bid of $4.3 billion was submitted on Monday night, just before […]

In a significant development within the UK telecommunications industry, BT Group has faced a setback as media giant Sky has chosen to partner with rival network provider CityFibre for its broadband services. This decision comes as both BT and CityFibre strive to expand their full-fibre networks across the UK. CityFibre, a prominent alternative network provider, […]

In an effort to boost the construction of affordable homes, UK Chancellor Rachel Reeves is planning to introduce a 10-year formula in the upcoming October Budget. This formula will allow for annual rent increases in England based on the Consumer Price Index (CPI) measure of inflation, which is currently at 2.2 percent, plus an additional […]

For the better part of the last decade, Saudi Arabia has attracted dealmakers, bankers, and asset managers seeking capital, largely due to its ambitious sovereign wealth fund embarking on a multibillion-dollar global spending spree. However, as the kingdom reassesses its priorities and the $925 billion Public Investment Fund (PIF) shifts its focus to significant domestic […]

The Scottish Government is facing criticism for its decision to reinstate peak rail fares across the country after a year-long pilot scheme aimed at encouraging reduced car usage and addressing rising living costs. The flat rate fare experiment, part of the Scottish National Party’s power-sharing agreement with the Scottish Greens, did not lead to a […]

In the realm of semiconductor giants, Nvidia has emerged as the undisputed frontrunner in the race to develop chips that power the explosive growth of artificial intelligence (AI). The company’s meteoric rise has been nothing short of remarkable, with analysts projecting a staggering 112 percent year-on-year sales growth to $28.6 billion for the second quarter, […]

The newly appointed Chancellor, Rachel Reeves, faces challenging decisions as recent official data indicates that government borrowing in July reached £3.1 billion, significantly surpassing expectations. This figure is £1.8 billion higher than the previous year and marks the highest July borrowing since 2021, highlighting the difficult financial environment the Labour government must navigate. According to […]

The economic landscape for small businesses in Britain has become increasingly challenging, with many entrepreneurs resorting to pawning personal belongings to secure working capital. Chris Gillespie, the chief executive of H&T—Britain’s largest pawnbroking chain—has observed a significant rise in small business owners pledging valuable items to cover wages and purchase stock. This trend has emerged […]

The international development agency Crown Agents has gone into liquidation after 191 years of operation, resulting in the loss of 150 jobs. Established in 1833 to manage financial transactions with British colonies, the not-for-profit organization faced a combination of funding cuts and a significant pension liability that led to its closure. Despite having weathered major […]

The rivalry between Chinese fast-fashion giants Shein and Temu has reached new heights as Shein launches a scathing legal action against its competitor in the United States. In a complaint filed with the District Court of Columbia, Shein’s legal entity, Roadget, accuses Temu’s parent company, PDD Holdings, of operating an illegal business model that encourages […]

As the colder months approach, households across Great Britain are preparing for another increase in their energy bills. Forecasts from Cornwall Insight, a respected energy consultancy, indicate that the government’s energy price cap is expected to rise by 9% starting in October, resulting in an average dual-fuel energy bill of £1,714 per year for a […]

In a bold move, Barratt, the UK’s largest housebuilder, is advancing its £2.5 billion takeover of rival Redrow this week, despite concerns from the Competition and Markets Authority (CMA). The CMA had expressed worries that the merger might harm homebuyers in Whitchurch, Shropshire. On Monday, Barratt announced it would waive the CMA’s conditions for the […]

The UK mortgage market is experiencing a significant improvement for both homeowners and buyers, as mortgage rates have dropped to their lowest levels since the aftermath of the Liz Truss mini-budget in September 2022. Currently, NatWest is offering a five-year fixed-rate mortgage at 3.83%, the lowest fixed-rate option since that tumultuous period, according to broker […]

The price of gold has reached a new all-time high, with spot gold surpassing $2,525 per ounce this morning. This unprecedented surge in value means that a standard bar of gold is now worth an astonishing $1 million. The previous record high was set just last Friday, but the market has continued to push gold […]

The potential takeover of Seven & i by Alimentation Couche-Tard (ACT) indeed represents a significant moment in the global convenience store industry. If the acquisition goes through, it would not only be the largest foreign acquisition of a Japanese company but could also lead to a reconfiguration of market dynamics in the convenience store sector. […]

The increase in enforcement actions against motorists for unpaid traffic fines reflects a complex interplay of various factors, including the rise of clean air zones, road tolls, and stricter parking regulations. The data indicates a significant surge in penalty charge notices (PCNs), with councils referring 4 million cases to enforcement agencies in 2023-24, up from […]

The price of gold has reached a new all-time high, with spot gold surpassing $2,525 per ounce this morning. This unprecedented increase has surged in value, meaning that a standard bar of gold is now worth more than a staggering $1 million. The previous record high was set just last Friday, but the market has […]

As Rachel Reeves prepares to deliver her autumn budget on 30 October, Britain’s largest manufacturers have issued a stark warning: the country’s infrastructure has suffered a decade of decline, and urgent action is needed to boost economic growth. According to a survey conducted by Make UK, which represents 20,000 industrial businesses across the UK, more […]

The potential takeover of Seven & i by Alimentation Couche-Tard (ACT) indeed represents a significant moment in the global convenience store industry. If the acquisition goes through, it would not only be the largest foreign acquisition of a Japanese company but could also lead to a reconfiguration of market dynamics in the convenience store sector. […]

As the colder months approach, households across Great Britain are preparing for another increase in their energy bills. Forecasts from Cornwall Insight, a respected energy consultancy, indicate that the government’s energy price cap is expected to rise by 9% starting in October, resulting in an average dual-fuel energy bill of £1,714 per year for a […]

In a groundbreaking development, brain implants are emerging as a potential game-changer in the treatment of various neurological and chronic conditions. Startups across the globe are engaging in clinical trials to explore the possibilities of this cutting-edge technology, which could significantly improve the lives of millions and create a market worth more than £15 billion […]

In a groundbreaking pilot study, researchers have introduced an innovative approach to deep brain stimulation (DBS) that may greatly enhance the lives of individuals with Parkinson’s disease. This technique, referred to as “adaptive” DBS, automatically modifies the level of electrical stimulation delivered to the brain based on real-time signals, potentially offering improved symptom control and […]

In today’s world, ultra-processed and fast food have become pervasive, infiltrating every aspect of our lives. These products, often masked by clever branding and marketing strategies, pose significant risks to our health and well-being. It is crucial that we recognize these foods for what they truly are and take steps to mitigate their harmful effects. […]

In a bold move to challenge Nvidia’s dominance in the AI infrastructure market, Advanced Micro Devices (AMD) has announced the acquisition of ZT Systems for $4.9 billion in cash and stock. The California-based chipmaker aims to accelerate the adoption of its Instinct line of AI data center chips through this strategic purchase. ZT Systems, a […]

The NHS is facing an unprecedented surge in demand for mental health services, especially among younger generations, as noted by Professor Sir Simon Wessely, a non-executive NHS England director. In an interview with Times Radio, Wessely, a former president of the Royal College of Psychiatrists, discussed the significant increase in young people openly addressing their […]

Western airlines are significantly reducing flights to China due to several factors, including low demand, high costs related to flying around Russian airspace, and growing competition from Chinese carriers. Recently, British Airways announced it would suspend flights between London and Beijing starting in October, shortly after Virgin Atlantic decided to discontinue its only route to […]

The UK’s commercial real estate market is demonstrating a quicker recovery than its European counterparts after a challenging two-year downturn caused by high interest rates. Recent market data indicates that, in the first half of 2024, deal volumes and property values in the UK have increased, while Germany and France, the next largest markets in […]

The UK’s water sector is preparing for potential penalties amounting to £2 billion over the next five years, as the regulator Ofwat intensifies efforts to tackle sewage issues. A recent report from Moody’s, a leading ratings agency, indicates a high likelihood of significant regulatory fines due to stricter pollution rules. This situation is particularly challenging […]

Thames Water, the largest water company in the UK, is currently facing significant financial challenges after the regulator, Ofwat, rejected its proposal to charge customers £156.6 million to address a deficit in its pension scheme. The company, which provides services to 16 million customers in London and the Thames Valley, had sought to transfer the […]

The UK economy has shown signs of recovery in the first half of 2024, with quarterly growth at 0.6%, an annual inflation rate of 2.2%, and unemployment at 4.2%. However, it is important to note that the economy continues to grapple with deep-rooted structural problems that have persisted for over a decade. The services sector […]

Boohoo, the struggling fast-fashion retailer, has found itself in a standoff with its suppliers after withholding payments due to claims of subpar clothing quality. The online budget specialist has allegedly targeted manufacturers responsible for producing a high proportion of faulty goods, refusing to pay them until the issues are resolved. According to a source close […]

The situation facing Britain’s private equity-owned supermarkets is becoming increasingly challenging. Morrisons is experiencing a significant loss of senior management, with seven directors, including convenience director Miles Foster, property director Mark Nowak, and productivity director Jonathan Bell, departing over the summer. Since CEO Rami Baitiéh took over last November, nearly a third of the top […]

In a remarkable turn of events, employees at Revolut, the London-based financial technology company, are set to share a staggering £500 million in stock through a sale. This move comes as Revolut’s valuation skyrockets to an impressive £45 billion, solidifying its status as a leading player in Britain’s fintech sector. The shares sale marks a […]

The rental market in the United Kingdom is currently facing a significant crisis, with affordability reaching its lowest level in over seven years. Data from property company PriceHubble, published by the Office for National Statistics (ONS), indicates that tenants are now dedicating nearly 30% of their incomes to housing costs. As of July, rent on […]

In a world where numerous industries are reevaluating the transformative potential of artificial intelligence (AI), the pharmaceutical sector is already experiencing revolutionary changes in drug discovery. Companies like GSK and AstraZeneca are leading this charge by leveraging AI to develop life-saving treatments more efficiently than ever. At GSK, Patrick Schwab, the director of machine learning […]

The iron ore market has experienced a significant downturn, with prices dropping to their lowest levels in two years. This decline is largely due to the struggling property sector in China, which has resulted in a steep decrease in steel demand. Consequently, major mining companies such as BHP, Rio Tinto, Vale, and Fortescue have collectively […]

Universal Destinations & Experiences, a subsidiary of Comcast, is currently in discussions with UK government officials about potential tax breaks and infrastructure incentives for a proposed multibillion-pound theme park in Bedford. The company has secured around 500 acres of land, previously a brickworks site, in the Midlands region of England, aiming to develop Europe’s largest […]

The UK arm of Grant Thornton, which is Britain’s sixth-largest accountancy firm, has attracted interest from major private equity firms CVC and KKR. Sources indicate that CVC, known for owning the La Liga football league, is considering a bid for Grant Thornton UK. KKR, a prominent US buyout firm, has also shown interest, though their […]

Sir Robert Chote, the chair of the UK Statistics Authority, has recently advocated for increased data sharing among government departments as a means to stimulate economic growth and enhance public services. In his statement, Chote highlighted the untapped potential that exists in combining data from various government bodies to generate valuable insights and improve policy-making. […]

In a bold move, tech giants Microsoft, Alphabet, Amazon, and Meta have collectively increased their capital expenditure by an astonishing 50%, surpassing the $100 billion mark this year. This massive investment aims to develop the infrastructure necessary to support artificial intelligence (AI), despite growing doubts from Wall Street regarding the returns on such an unprecedented […]

Anglesey Mining, a London-listed company, has submitted an environmental impact assessment for a proposed mine on Parys Mountain in Wales, aiming to reopen this historic site that dates back to the Bronze Age. The mine, located near Amlwch in the north of Anglesey, is believed to still hold significant amounts of copper, zinc, and gold. […]

The chief executive of Admiral, Milena Mondini de Focatiis, has dismissed accusations of profiteering after the company reported a significant increase in first-half profits, driven by higher premiums and substantial cash returns for shareholders. The FTSE 100-listed motor insurer saw its revenues climb by 43 percent year-on-year to £3.2 billion in the six months to […]

The fate of AstraZeneca’s planned £450 million investment in a vaccine manufacturing facility in northwest England hangs in the balance as the Treasury, under the leadership of Chancellor Rachel Reeves, reviews spending decisions made by the previous government. Reports suggest that the Treasury has sought to reduce the amount of state support for the project […]

Caxton Associates, one of the City’s prominent hedge funds, has reportedly amassed gains of approximately $270 million this month following successful trades made during recent financial market turbulence. The London-based macro fund, which wagers on broad economic trends, capitalised on the Japanese yen’s rally and a “steepener trade” involving the purchase of short-maturity Treasuries and […]

The automotive industry has been grappling with a myriad of challenges, and Dowlais, the car parts maker spun off by Melrose Industries in April last year, has not been immune to these headwinds. Since its inception, the company’s share price has taken a nosedive, plummeting from 117p to a dismal 58¾p, marking a fresh low […]

In a shocking turn of events, Thurrock Council, a local authority in south-east England, has accused Liam Kavanagh, a Dubai-based businessman, of misappropriating approximately £150 million from funds the council invested in solar farm-backed bonds. The allegations, detailed in recently publicised High Court papers, shed light on the council’s dealings with Kavanagh between 2017 and […]

Balfour Beatty, the UK’s largest construction firm, has reported a 4% decrease in operating profits for the first half of the year, down to £77 million from £80 million in the same period last year. This dip comes despite a 3% increase in revenues, which rose to £4.68 billion from £4.53 billion. The company attributes […]

In an unexpected twist, ChatGPT users in the United Kingdom have found themselves perplexed by the AI chatbot’s propensity to respond in Welsh, despite being prompted with English-language queries. This peculiar glitch has come to light as users engage with the bot using ChatGPT’s new voice interface, only to be met with near-perfect Welsh translations […]

The Norwegian krone has been the subject of much concern lately, as its dramatic decline against major currencies like the US dollar and euro has left politicians, businesspeople, and consumers scratching their heads. The currency’s weakness has led to higher prices for imported goods, forcing companies to raise prices and keeping borrowing costs elevated, even […]

The UK economy grew by 0.6 percent in the second quarter, according to the latest figures from the Office for National Statistics (ONS). This marginal slowdown compared to the previous three months’ robust growth of 0.7 percent was in line with economists’ expectations, providing a glimmer of hope for the new Labour government led by […]

SoftBank, the Japanese conglomerate, has been in discussions with Intel, the US chipmaker, about a potential collaboration to produce artificial intelligence (AI) chips that could rival those of Nvidia. However, the talks have recently stalled due to Intel’s inability to meet SoftBank’s requirements, according to people familiar with the matter. The partnership would have combined […]

The UK labour market has presented a mixed picture in the second quarter of the year, with the unemployment rate unexpectedly falling and wage growth slipping to a two-year low. These developments provide conflicting signals for the Bank of England’s rate-setting Monetary Policy Committee (MPC) as they navigate the path of interest rates. According to […]

The UK entertainment and media sector is on track to surpass £100 billion in value for the first time this year, driven by a surge in advertising spending and consumer demand for video streaming, social networking, and gaming. According to PwC’s global entertainment and media outlook, the sector is projected to generate £121 billion in […]

In a significant move within the UK housing market, Blackstone, the American investment giant, has sold over 3,000 shared ownership homes to the Universities Superannuation Scheme (USS) for £405 million. This transaction marks the largest affordable housing deal since the inception of the shared ownership scheme in 1990. The USS, which manages the retirement funds […]

The Unite union has raised concerns over potential job losses stemming from Carlsberg’s £3.3 billion bid to acquire Britvic, the largest maker of branded still soft drinks in Britain. The Danish brewer has offered £13.15 per share for the London-listed company as part of its strategy to increase sales of non-alcoholic beverages and cater to […]

Former Prime Minister Boris Johnson has recently engaged in discussions with ex-Chancellor Nadhim Zahawi regarding a possible position at The Telegraph, as part of Zahawi’s takeover bid for the newspaper. Sources close to Johnson have downplayed the significance of these talks, stating that no substantial discussions have taken place. However, speculation is rife that Johnson […]

In the heart of southwest Scotland, near the village of Kirkconnel, lies Glenmuckloch, one of Britain’s last coalmines to cease production. The year was 2017, and at its zenith, the mine produced around 500,000 tonnes of coal annually. Though the mine may be closed, it is far from forgotten, as it holds the potential to […]

As fears of a recession grip global markets, investors are turning to bonds as a safe haven. More than $66 billion has poured into fixed income funds since the start of July, with US Treasuries and other highly rated debt staging a powerful rally during last week’s equity rout. The shift in investor sentiment comes […]

In a significant move within the UK housing sector, Blackstone, through its affordable housing company Sage, has sold a portfolio of 3,000 shared ownership homes to the Universities Superannuation Scheme (USS) for £405 million. The deal, which marks Blackstone’s first sale from its growing UK residential portfolio, is the largest affordable housing transaction of its […]

The Bank of England should exercise caution when considering lowering interest rates too quickly, according to Catherine Mann, a member of the Bank’s Monetary Policy Committee (MPC). In an appearance on the Financial Times’s The Economics Show podcast, Mann expressed concerns that wage growth and price pressures could remain elevated, suggesting a potential structural shift […]

The UK office market is experiencing a significant shift as buyers are paying, on average, 18 percent less than the asking price for office properties. This marks the most substantial discount since the global financial crisis in 2009, according to data from CoStar, a property analytics group. The tepid demand is particularly evident for older […]

In 2009, supermarkets across the United Kingdom embarked on a self-service revolution, replacing traditional cashier-manned tills with automated checkouts. The aim was to speed up transactions and reduce labour costs. However, as time has passed, the shine has worn off these self-service kiosks, leaving customers frustrated and retailers questioning their decision. At the height of […]

Starbucks Corporation has announced a significant leadership change, appointing Brian Niccol, the current head of Chipotle Mexican Grill, as its new chairman and chief executive. This move comes in response to declining sales and mounting pressure from investors. Niccol will officially take over next month, succeeding Laxman Narasimhan, who is stepping down immediately after just […]

Asda, the UK-based supermarket chain, has experienced a notable decline in its grocery market share, according to recent data from Kantar. Over the 12 weeks leading up to August 4, Asda’s sales dropped by 6%, reducing its market share from 13.7% to 12.6%. This downturn comes shortly after Lord Rose of Monewden, Asda’s chairman, publicly […]

In a surprising turn of events, Bellway has decided to abandon its £720 million takeover bid for Crest Nicholson, just as the deal seemed poised for completion. After two months of negotiations, Bellway confirmed it would not proceed with the acquisition, sending Crest’s shares plummeting by 20.7% to 208p, while Bellway’s stock rose by 4.1% […]

Inflation in the UK rose for the first time this year in July, climbing to 2.2% and surpassing the Bank of England’s 2% target, according to official figures released by the Office for National Statistics (ONS). This increase was primarily driven by a slower decline in gas and electricity prices compared to the previous year. […]

Google’s parent company, Alphabet Inc., faces potential divestiture of key operations following a landmark ruling by a US federal judge, which found the tech giant guilty of maintaining an illegal monopoly over online search. The US Department of Justice (DOJ) is reportedly weighing the possibility of ordering Alphabet to divest parts of its search business, […]

The cost of protecting one’s home in the United Kingdom has reached an unprecedented level, with the average combined buildings and contents insurance policy now standing at a staggering £396 per year. This alarming figure, recorded between May and June, represents a 6% increase from the previous quarter and a shocking 19% rise compared to […]

Chancellor Rachel Reeves is exploring the possibility of seeking private investment to fund the £9 billion Lower Thames Crossing, a highway and tunnel project connecting Kent and Essex to the east of London. The move comes as part of a broader effort by the new Labour government to attract private finance for infrastructure projects while […]

The Future Fund, a £1.14 billion portfolio of investments established by former Conservative prime minister Rishi Sunak during his tenure as chancellor, is facing a growing number of bad investments. Managed by the British Business Bank (BBB), the fund provided loans to 1,190 primarily early-stage companies between May 2020 and July 2021 as part of […]

In a move that underscores the growing investor appetite for private credit, Janus Henderson, the British-American asset management firm with approximately £361 billion in assets under management, has announced a deal to acquire a controlling stake in Chicago-based Victory Park Capital Advisors. The transaction, which involves a combination of cash and company stock, will provide […]

In a significant move towards a greener future, Great Britain’s energy regulator, Ofgem, has given the go-ahead for a £3.4 billion low-carbon electricity “superhighway.” The subsea power cable, known as the Eastern Green Link, will span more than 300 miles, transmitting renewable electricity from Scottish wind farms to homes in England. The project, developed by […]

Just Group, a prominent UK life insurer, has announced that it anticipates “substantially exceeding” its full-year profit target following a significant increase in corporate pension deals. This news comes as the latest indication of the thriving conditions within the market. The company’s half-year results, released on Tuesday, revealed a 44 percent year-on-year rise in underlying […]

The National Health Service (NHS) has announced a groundbreaking initiative to tackle the growing threat of antimicrobial resistance (AMR) by partnering with the pharmaceutical industry. The NHS will negotiate fixed-fee contracts with drugmakers, offering up to £20 million per year for each new antibiotic developed. This innovative approach aims to incentivise the development of novel […]

The UK’s labour market has shown mixed signals, with wage growth hitting its lowest rate in nearly two years, while the unemployment rate unexpectedly fell, according to the latest data from the Office for National Statistics (ONS). In the three months to June, annual earnings growth, excluding bonuses, slowed to 5.4%, down from a revised […]

The UK university sector is grappling with mounting financial pressures, and Sir Philip Augar, the author of the 2018 Augar Review, has cautioned that institutions must take decisive action to trim costs and restructure if they hope to justify their appeals for increased government funding. As universities contend with higher inflation, frozen tuition fees, and […]

The introduction of post-Brexit border rules on 30 April has led to significant delays in seed imports from the EU, causing concern among UK vegetable growers. The British Tomato Growers’ Association (BTGA) and the Cucumber and Pepper Growers’ Association (CPGA) have reported delays of up to six weeks for seed deliveries, disrupting growing schedules and […]

The City is abuzz with speculation that debt-laden media tycoon Patrick Drahi has quietly sold a portion of his nearly 25 percent stake in BT over the past few months. According to a new analysis, the French-Israeli billionaire, who is the FTSE 100 company’s largest shareholder with a declared stake of 24.5 percent, may now […]

Heathrow Airport, the bustling hub of the United Kingdom, has reported a significant setback following the introduction of the £10 Electronic Travel Authorisation (ETA) fee by the Conservative government in November 2023. The airport authorities have revealed that since the implementation of the scheme, Heathrow has experienced a decline of 90,000 transfer passengers on routes […]

The chief executive of Sainsbury’s, Simon Roberts, and the general secretary of the Union of Shop, Distributive and Allied Workers (Usdaw), Paddy Lillis, have issued a stark warning to the Labour government. They assert that unless the business rates regime is overhauled, more than 17,000 shops could face closure over the next decade, putting tens […]

The Treasury has moved to quell a heated dispute with the North Sea oil and gas industry by committing to maintain investment reliefs on low-carbon projects. This decision aims to safeguard jobs and mitigate the impact of the expanded energy windfall tax. Last month, Chancellor Rachel Reeves announced plans to increase the levy on energy […]

In a significant shift in global sentiment, calls for higher taxes on the super-rich are gaining traction, with even conservative governments joining the chorus. The G20, a group of the world’s largest economies, has recently agreed that more needs to be done to tax the global elite effectively. Italy, led by Giorgia Meloni’s right-wing administration, […]

A recent poll conducted by Ipsos for the Health Foundation thinktank has revealed that a majority of people in Britain are in favor of introducing new taxes on companies that produce junk food or ultra-processed foodstuffs. The aim of these proposed taxes is to combat the growing obesity crisis in the UK, which is estimated […]

The electric car market in Britain is witnessing a significant shift as BMW closes in on Tesla’s lead. According to the latest industry figures, BMW’s electric car sales in the UK have surged to over 22,000 in the first seven months of the year, rapidly approaching Tesla’s 25,500 units sold during the same period. BMW’s […]

The UK Treasury is bracing for a significant increase in housing benefit payments to pensioners, with projections indicating that the annual cost could skyrocket to £15.4 billion by 2035. This staggering figure, revealed by the Centre for Economics and Business Research (CEBR), is more than double the current £6.7 billion spent each year on housing […]

The UK economy is bracing for a potential uptick in inflation, mere weeks after the Bank of England’s decision to lower interest rates for the first time in over four years. Economists predict that the July inflation figures, due to be released this week, will show a rise to 2.3 per cent, following two months […]

The Labour government is nearing a £600 million bailout agreement for British Steel, signaling a fresh commitment to resolving the long-standing impasse in negotiations with the company’s Chinese owner, Jingye. The Scunthorpe-based steelmaker, which employs 4,000 people, has been grappling with an uncertain future for over four years. In a significant development, Jingye has agreed […]