Goldman Sachs has predicted that the pound will surge to its highest level against the US dollar in over three years, buoyed by strong UK economic growth and a gradual reduction in interest rates by the Bank of England. The US investment bank forecasts sterling will reach $1.40 within the next year, a significant leap […]
GMB, one of the UK’s largest trade unions, is urging the government to favour businesses that recognise trade unions when awarding public contracts. The call comes after revelations that Amazon secured £1 billion in government contracts despite allegations of “union-busting” practices. At the Labour Party conference today, GMB will push for companies that recognise trade […]
The pace of economic growth in the UK slowed in September, as concerns about the government’s upcoming budget weighed on business activity, according to a preliminary estimate from the widely tracked PMI (Purchasing Managers’ Index). The UK PMI “flash” composite output index, which measures business activity in both the services and manufacturing sectors, slipped to […]
Landlords will be banned from renting out properties that fail to meet minimum energy efficiency standards by 2030, according to Ed Miliband, Labour’s energy secretary, who will announce the policy at the Labour Party conference on Monday. Under the proposed legislation, all rented homes must achieve at least a grade C on their Energy Performance […]
Rightmove is set to consider a third £6.1 billion bid from Melbourne-based Rea Group after rejecting two previous offers. The latest offer from Rea Group values the UK property platform at 770p per share, comprising 341p in cash and 0.0422 new Rea shares. Rightmove’s chairman, Andrew Fisher, confirmed that the board will carefully evaluate the […]
South Yorkshire is set to host Britain’s first factory dedicated to building small modular reactors (SMRs), marking a significant boost for the region’s economy and the UK’s nuclear industry. Holtec, a privately owned nuclear company headquartered in Florida, has chosen South Yorkshire as its preferred location for the £1.5 billion facility after considering sites across […]
Companies may soon be required to offer regular contracts to workers on zero-hours agreements after just three months, under proposed reforms being discussed by the Labour Government. Deputy Prime Minister Angela Rayner and Business Secretary Jonathan Reynolds informed business leaders and unions in a private meeting that new legislation could oblige employers to offer zero-hours […]
The Welsh Government is weighing the introduction of tax breaks to stem the tide of people leaving the country, particularly from rural areas, and to preserve the Welsh language. Inspired by the Castilla-La Mancha region in Spain, where a 25 per cent income tax reduction is offered to residents in rural areas, the Commission for […]
Consumer confidence has sharply declined amid growing concerns that Labour’s rhetoric is fuelling economic fears, raising the possibility of a downturn in Britain. GfK’s latest consumer confidence index dropped by seven points to -20 in September, with households increasingly anxious about their personal finances and the overall economic outlook. The survey also showed a 12-point […]
Next has warned that it may have to close stores after losing a significant legal battle over equal pay, which could cost the retailer over £30 million. The FTSE 100 clothing and homewares chain announced in its half-year report that the ruling could affect the profitability of individual stores. Last month, an employment tribunal ruled […]