Sir Richard Branson’s Virgin Group is set to trim its workforce at its London headquarters as part of a consolidation effort involving two of his enterprises. It’s been revealed that Virgin Group will be reducing its head office staff by 8%, affecting approximately 32 out of its 425-strong workforce. This decision comes following the amalgamation […]
European Union countries have reached a consensus on a law mandating companies to ensure that their supply chains do not contribute to environmental degradation or exploit forced labour. Seventeen out of the 27 member states threw their weight behind the legislation on Friday, with no votes cast in opposition. However, this agreement was only achieved […]
Nikhil Rathi, the chief executive of the Financial Conduct Authority (FCA), has sparked a backlash from consumers after indicating that the regulator would not intervene if banks opted to charge for current accounts. Rathi’s comments at a bankers’ conference, where he stated that the FCA would not obstruct changes to business models in response to […]
Inflation in the UK is projected to have decelerated to a two-year low in February, with economists cautioning that the Bank of England’s 2 per cent target may not be met in the upcoming months. Official data scheduled for release next Wednesday is anticipated to reveal that consumer prices inflation stood at 3.5 per cent […]
More than a thousand unionized staff at the Office for National Statistics (ONS) are poised to vote on potential industrial action in response to proposed changes that would require them to be in the office at least two days a week. Members of the Public and Commercial Services Union (PCS), stationed in various offices nationwide […]
Norfolk County Council has emerged victorious in a legal battle against tech giant Apple, with the settlement resulting in a payment of $490 million (£385 million) to resolve the lawsuit. The class action lawsuit, led by Norfolk County Council, alleged that Apple’s CEO, Tim Cook, deceived shareholders by concealing lower demand for iPhones in China, […]
The latest data from the Department for Work and Pensions (DWP) has revealed thousands of people are deemed unable to work due to mental health issues every month. Official figures indicate that at least 20,000 incapacity benefit claims are attributed to mental health problems, constituting more than two-thirds of the total claims. Previously, mental health […]
The latest figures from the Insolvency Service reveal a concerning trend in business insolvencies, with a notable increase of nearly a fifth compared to the same period last year. In February, a total of 2,102 businesses faced insolvency, marking a significant rise from the 1,801 recorded in February of the previous year. While the data […]
In a landmark ruling, the judge presiding over the legal dispute regarding the inventorship of Bitcoin has declared that Australian computer scientist Craig Wright is not the creator of the cryptocurrency. The verdict, delivered by Mr Justice Mellor after a five-week trial at the High Court, came promptly following the conclusion of proceedings. Despite expectations […]
The chief regulator of the City has hinted at likely failings by some companies in concealing commissions charged on car loans. Nikhil Rathi, CEO of the Financial Conduct Authority (FCA), suggested that redress for these failings wouldn’t approach the scale of the infamous £50 billion bill for mis-sold payment protection insurance (PPI). Speaking at a […]