BT has been fined £2.8 million by Ofcom for not providing clear contract information to a million customers of its EE and Plusnet services. The telecoms regulator identified that these customers were not given essential details about their deals before signing up. Ofcom’s investigation revealed that some of BT’s sales channels were still not compliant […]
Plans for the anticipated “Tell Sid” sale of NatWest shares owned by the UK government are likely to be postponed after Prime Minister Rishi Sunak called a snap general election for July 4. The electoral rules, which restrict government activity during the purdah period leading up to an election, mean that the retail offer initially […]
The UK government is set to introduce skills “bootcamps” to train unemployed individuals for jobs in sectors such as hospitality, social care, and logistics. This initiative, announced by Mel Stride, the Work and Pensions Secretary, aims to address potential worker shortages resulting from a crackdown on migrant visas. Stride will highlight that, for too long, […]
Research from Kantar indicates that food price rises are returning to more typical rates, with grocery price inflation dropping to 2.4%, the lowest since October 2021. Despite this easing, shoppers continue to favor cheaper own-brand goods, suggesting that the habits formed during the cost-of-living crisis persist. The findings come ahead of official inflation figures due […]
UK interest rates could see a reduction this summer, according to Ben Broadbent, the Bank of England’s outgoing deputy governor for monetary policy. Broadbent indicated that if the economy evolves as anticipated, borrowing costs might be lowered “sometime over the summer” in response to a significant drop in inflation. The primary inflation drivers over the […]
Ten teams across the country have been chosen as finalists of the inaugural Manchester Prize, a prestigious challenge prize rewarding breakthroughs in AI for public good. Announced by the Prime Minister as the AI Seoul Summit gets underway today, the finalists will each receive a share of £1 million to develop their solutions over the […]
The commercial property market may be approaching its nadir as more workers return to the office, according to Land Securities, one of the UK’s largest landlords. Mark Allan, CEO of Land Securities, which owns a portfolio worth billions, stated that the values of high-quality properties have “largely bottomed out and will start to grow in […]
Challenging economic conditions have led to an 18 per cent surge in company insolvencies during April, as rising debt levels, higher interest rates, and spending cuts took their toll. According to data from Companies House, company insolvencies rose to 2,177 in April, up from 1,838 in March. Over the 12 months leading to the end […]
After losing twice in the protracted ‘mega marshmallows’ tax case, HM Revenue and Customs (HMRC) has announced its intention to file yet another appeal. Last month, the Upper Tax Tribunal upheld a lower tribunal’s ruling that ‘mega marshmallows’ sold by London-based wholesaler Innovative Bites are not considered confectionery and therefore are exempt from VAT. The […]
Shares in Reddit have surged more than 10% following the announcement of a partnership deal with artificial intelligence (AI) start-up OpenAI. This agreement grants OpenAI access to Reddit’s content while introducing AI-powered features to the social media platform. The partnership underscores Reddit’s strategic move to diversify its income streams beyond traditional advertising. By leveraging AI, […]