International Distributions Services (IDS), the parent company of Royal Mail, has rebuffed a takeover bid from Czech billionaire Daniel Křetínský’s EP Group, signaling a desire to maintain autonomy amid challenging market conditions. Křetínský, known for his diverse business interests spanning from energy to media assets and football clubs, approached IDS with an undisclosed offer earlier […]
Hundreds of UK chief executives believe that artificial intelligence (AI) could steal their job, underlining widespread fears over the technology’s potential to shake up traditional working models. Nearly half of CEOs said they felt that their job could be at risk due to AI technology, according to a major new study from AND Digital. Additionally, […]
The UK’s labour market faces a worrisome setback as unemployment rates climb, signalling a potential stall in job growth, as indicated by recent data. Figures released reveal a rise in the unemployment rate to 4.2% between December and February, marking the highest level in six months. Concurrently, the proportion of employed individuals declined, while the […]
The former site of Britishvolt, a failed battery startup in northeast England, has been acquired by US private equity firm Blackstone Group for £110 million. Blackstone intends to transform the 95-hectare site near Cambois, Northumberland, into one of Europe’s largest data centres, capitalising on its connectivity to renewable energy sources. Initially heralded in 2019 for […]
Despite previous commitments to transition to an all-electric marque by 2025, Jaguar has announced plans to prolong the production of internal combustion vehicles well into next year. The decision comes amidst slow demand for zero-emission vehicles and the recognition that maintaining profitable conventional lines is essential for funding the electrification transition. While Jaguar had initially […]
Barclays has emerged as the most complained-about bank for small business account closures. Out of the 413 complaints lodged with the Financial Ombudsman Service between April 2022 and September 2023 regarding small business banking, Barclays accounted for nearly half, with 205 complaints. Following Barclays, HSBC recorded 67 complaints, Lloyds with 57, NatWest with 53, and […]
Jeremy Hunt has condemned Thames Water’s plea for increased household bills in the face of potential insolvency as “utterly outrageous.” Amidst growing concerns over the utility company’s financial woes, the Chancellor emphasized shareholders’ responsibility to rectify the situation rather than burdening consumers. Addressing constituents at a public meeting in his South West Surrey constituency, Hunt […]
The UK economy exhibited signs of recovery as Gross Domestic Product (GDP) rose by 0.1 per cent in February, propelled by improved performance in both the production and services sectors. According to the Office for National Statistics (ONS), GDP has now expanded for two consecutive months, following an upwardly revised 0.3 per cent growth in […]
Meta, the social media giant behind the encrypted messaging app WhatsApp, is facing criticism from educators, lawmakers, and activists for its recent move to lower the minimum age for users from 16 to 13. The decision has raised alarms about the potential risks posed to children by fostering cyberbullying, sleep disturbances, and exposure to harmful […]
Reports have surfaced alleging that Chinese factories are producing counterfeit British stamps in large quantities, raising concerns about the integrity of the UK’s postal system and potential economic implications. According to these reports, Chinese suppliers are offering to manufacture up to 1 million fake Royal Mail stamps per week, with some websites selling them in […]