British businesses are bracing for a debt crisis as high interest rates are predicted to cost an additional £41.7 billion by the end of the decade. With the expiration of cheap loans, borrowing costs are expected to surge, significantly impacting the economy. According to consultancy Baringa, businesses will face an average annual increase of £4.7 […]
Airbus is set to hire 400 engineers at its wing manufacturing plant in Broughton, Wales, as it seeks to expand its lead over Boeing in the competitive single-aisle jet market. This move comes as Boeing grapples with ongoing issues surrounding its 737 Max aircraft. The additional staff will be pivotal in transforming the Broughton plant’s […]
MPs have warned that rail subsidies are at unsustainable levels, criticising the Government for delays in rail reforms. The Public Accounts Committee (PAC) highlighted the billions of pounds spent supporting passenger rail services in a recent report on rail reform progress. The PAC stated: “Much of the proposed reforms and associated benefits are now largely […]
Elon Musk’s artificial intelligence start-up, xAI, has successfully raised $6 billion from prominent investors including Andreessen Horowitz and Sequoia Capital. This latest round of funding boosts the company’s valuation to an estimated $24 billion, positioning it as a significant player in the AI landscape. The newly acquired funds will be instrumental in bringing xAI’s first […]
Labour has gained the endorsement of a coalition of 120 business leaders, who argue that the UK needs a “new outlook” to overcome a decade of economic stagnation. In a letter to The Times, these executives describe the economy as suffering from “instability, stagnation and a lack of long-term focus” and view the upcoming election […]
The government’s flagship City reform initiatives, including the rollout of the British ISA and the Pisces private market, face uncertainty following Prime Minister Rishi Sunak’s decision to hold an early election in July. Over the past two years, ministers have pursued significant changes to City policy, but consultations on these landmark plans are now at […]
Royal Mail is under investigation by Ofcom after failing to meet delivery targets, with less than three-quarters of first-class mail delivered on time last year. According to Royal Mail’s parent company, International Distribution Services (IDS), only 74.5% of first-class mail met the one-working-day delivery requirement. Ofcom regulations mandate that 93% of first-class mail should be […]
Britain’s fragile public finances will cast a shadow over the general election campaign, with both Rishi Sunak and Sir Keir Starmer warned of impending fiscal challenges by a leading economics think tank. The Institute for Fiscal Studies (IFS) cautions that the economy faces “the worst of both worlds” — low GDP growth and increased debt […]
Britain’s privately owned train operating companies could begin returning control of their networks as early as July 5 if Labour wins the general election. Boris Johnson’s vision of a new Great British Railways to replace the privatised franchise system has been halted by the dissolution of parliament due to the snap election. The Rail Reform […]
Chancellor Jeremy Hunt has declared inheritance tax unfair and “profoundly anti-Conservative,” committing to support the middle classes with tax breaks. In an interview with The Telegraph, Hunt emphasised the Conservative Party’s commitment to ending taxes that discourage earning and saving, vowing to build on recent National Insurance cuts. In his first interview since Prime Minister […]