Struggling NatWest borrowers have been given an extra six months to pay back unsecured loans and overdrafts. The part state-owned bank said it has “not yet” seen “significant” increases in the number of defaults or people in arrears but said the measure is designed to act as a support to communities. As a result of […]
Around 100,000 civil servants will strike on 1 February in a worsening dispute over pay, jobs and conditions, the Public and Commercial Services union has announced. It will be the largest civil service strike for years and coincides with the TUC’s “protect the right to strike day” announced yesterday in response to new government legislation. […]
Royal Mail has said it is facing severe disruption to its international export services after a “cyber incident”. The company is temporarily advising customers to hold any export mail while it tries to resolve the issue. Royal Mail added that it had launched an investigation into the incident, was “working with external experts” and “sincerely […]
A group of former workers at Twitter’s UK operation have accused the company of subjecting them to “unlawful, unfair and completely unacceptable” treatment during a “sham” redundancy process. A law firm representing 43 Twitter staffers who were made redundant has raised the prospect of an employment tribunal to resolve the situation, which it says has […]
The cost of living crisis is the biggest risk facing the global economy this year, the World Economic Forum has warned ahead of its annual meeting in Davos. About 1,200 industry executives and policymakers listed the most severe risks over a two and ten-year horizon, with the cost of living at the top of short-term […]
Thousands of Microsoft employees across the United States will be given unlimited days off in an overhaul of its holiday policy. The company’s discretionary time off scheme for its American workforce will come into effect on January 16, according to the Verge technology website, which cited a memo from Kathleen Hogan, Microsoft’s chief people officer. […]
People will be allowed to keep claiming sickness benefits after returning to work and will be offered tax breaks for getting jobs, under plans to boost employment. A reform of disability benefits is likely to scrap a “perverse” assessment system, which ministers think encourages people to prove they are too ill to work, in an […]
British and European manufacturers are slowing down production of electric vehicles because they are too expensive for the vast majority of motorists, an industry body has said. The Advanced Propulsion Centre, which disburses taxpayer money to push the automotive industry towards a zero-emission future, said in its latest quarterly review of the market that British […]
Up to 3,200 jobs are to go at Goldman Sachs as part of the biggest restructuring efforts at the company since the global financial crash. The US-based multinational financial services company and investment bank is embarking on a series of cost-saving measures after the deal making and market boom of the COVID-19 pandemic dried up […]
The battery startup Britishvolt is in talks with an Indonesia-linked oil and gas investor for a £160m rescue deal that would almost wipe out the value of existing shareholders’ stakes. The investor consortium is led by DeaLab Group, a UK-based private equity investor that has been involved in several fossil fuel and renewable energy transactions […]