SSE will invest £100m in the UK’s first pumped hydro storage scheme in 40 years in a bid to support the UK’s renewable energy transition. The project will take excess energy from the grid and use it to pump water 500m up a hill from Loch Lochy in the Scottish Highlands to a vast upper […]
Just Eat has been forced to slash 1,700 delivery driver jobs and 170 head office roles, after the service has seen a slow down in takeaway demand. The food delivery group, whose rivals include Deliveroo and Uber Eats, said the group was looking to improve efficiency and reduce costs. Just Eat, which has some 15,000 […]
Thousands of rail workers including signalling staff voted by three to one in favour to accept the offer, a 9% pay increase over two years, in a referendum that closed on Monday. The union said that on a turnout of nearly 90%, its members voted by 76%-24% to accept the offer, and it was ending […]
Derby is to be named the new headquarters of Britain’s rail network by ministers this week. The delayed result of the competition to become the official home of Great British Railways is expected as early as Tuesday, with the Midlands city the frontrunner on a shortlist of six including Birmingham, Crewe, Doncaster, Newcastle and York. […]
Public borrowing in February rose to a high for the month as the government paid out significant subsidies to cap energy bills for households and businesses, official figures show. Net borrowing hit £16.7 billion last month, up by £9.7 billion compared with the same month in 2022, and the highest level of February borrowing since […]
Amazon is to cut a further 9,000 jobs over the coming weeks in a fresh round of lay-offs designed to make the company “leaner” in the face of mounting economic concerns. The technology group, which announced in January that it would shed more than 18,000 roles from its workforce, said going further would be “best […]
Workers are £11,000 worse off per year due to 15 years of wage stagnation, according to the Resolution Foundation. In new figures shared with BBC Panorama, the think tank calculated that, had wages continued to grow at the pace seen before the 2008 financial crash, the average worker would make £11,000 more per year than […]
More than a third of Brits surveyed say the budget last week made them more concerned about the state of the UK’s economy. Chancellor Jeremy Hunt unveiled his spring statement in the House of Commons last week in light of rosier economic projections and within the government’s self-imposed fiscal rules. He focused on childcare reforms, […]
The government’s failure to support the ailing UK steel industry in last week’s budget has put thousands of jobs at risk, the prime minister has been told. In a letter to Rishi Sunak, shared with the Guardian, the trade union Unite said it was “disappointed” that the government had not announced plans to tackle the […]
The average price of a property coming on to the market rose by £2,906 in March, as stability and confidence returned to the housing sector after the chaos unleashed by the mini-budget, new research has found. The average price of properties listed rose by 0.8 per cent this month, driven by a 1.2 per cent […]