The boardroom veteran Rupert Soames is to become the next president of the CBI, the business lobby group that is trying to recover from an existential workplace misconduct scandal. Soames, 64, will begin to take on the role early next year before formally replacing Brian McBride, 68, after members vote on the appointment at the […]
More than 200,000 pensioners were left out of pocket by a total of £1.3bn last year and many will never be repaid because of lax record keeping, according to parliament’s spending watchdog. Computer errors at the Department for Work and Pensions (DWP) meant 165,000 also missed out on £1.2bn in the previous year, the public […]
Job vacancies in the American economy fell to their lowest level in more than two years, helping cool the labour market and raising expectations of interest rate cuts in the world’s largest economy. Official figures from the Labour Department showed there was a drop in job openings from 9.35 million to 8.73 million in October, […]
Amazon and Google have complained to the UK’s competition regulator that their rival, Microsoft, uses practices that restrict customer choice in the £7.5 billion cloud computing market. In their written submissions to the Competition and Markets Authority, which is investigating the lucrative cloud computing market, the two companies accused their fellow technology giant of using […]
British car manufacturers are to be given a three-year reprieve from Brexit tariffs on electric vehicle exports to the EU, hours after new figures showed sales of battery-powered vehicles fell by almost a fifth last month. The European Commission signalled yesterday that it would delay imposing a 10 per cent tax on the exports of […]
The UK Chancellor has disagreed with claims that the UK economy has a ‘broken leg’ but instead says is has a ‘sprained ankle’ as he blames Brexit for sparking half a decade of instability leading to ‘incredibly challenging times’, voiced at an event hosted by the Resolution Foundation thinktank and London School of Economics’ Centre […]
New research shows that despite the fact that UK entrepreneurs generate £950bn in annual revenue, entrepreneurs in the most innovative regions are struggling to access the funding they need to grow. The number of patents being granted by the UK Intellectual Property Office across the UK reflects the quantity of new and innovative products and […]
The British economy has been held back by a flight of workers from the jobs market and staff electing to work fewer hours after the pandemic, tied to overly generous Covid government spending, a report has claimed. Participation in the labour market is still below its pre-pandemic level, which the Bank for International Settlements, the […]
Microsoft will invest £2.5 billion in Britain over the next three years to double its data centre capacity and provide computing power to help to drive the expansion of artificial intelligence. The investment has been hailed by Rishi Sunak as “a turning point for the future of AI infrastructure and development in the UK”. The […]
Baroness Harding of Winscombe, the former chief executive of TalkTalk, is poised to saddle up as the first woman to become senior steward of the Jockey Club in its 273-year history. Harding, whose role would be equivalent to chairwoman, was chairwoman of NHS Improvement until October 2021, overseeing the initial phases of the Test and […]