A host of “innovation hubs” are set to be launched in cities across the UK today as part of a Treasury-backed plans to boost the growth of fintech beyond London. The hubs have been announced as part of the launch of the new Centre for Finance, Innovation and Technology (CFIT), a key recommendation of the […]
Good Business Pays today announced the appointment of Philip King as Non-Executive Director. Founded in 2021, Good Business Pays campaigns to encourage large businesses to adopt fast payment processes. It is now supported by financial behemoths that include Mastercard, Barclays and Previse, as well as the Federation of Small Business, CBI, Institute of Directors, Make […]
British businesses are poised to mothball investment due to uncertainty over whether the country is on course to tip into a recession and a looming tax grab, a new survey out today indicates. Fears of a slowdown in spending caused by families’ finances being squeezed by the cost of living crisis has knocked optimism among […]
The UK’s largest retailers are urging the government to scrap its waste strategy policy, or risk forcing prices up for consumers who are already facing a cost of living crisis. A draft letter obtained by Sky News, which it is understood will be sent to government officials next week, outlines industry concerns about the costs […]
Another brighter than expected set of economic numbers out today indicate the UK has a chance of avoiding a much-tipped recession this year. Consumer confidence climbed faster than forecast to minus 38 points this month, up seven points from minus 45 points in January, according to research firm Growth for Knowledge’s index which has been […]
Interest rates will need to rise again to prevent inflation becoming a persistent problem in the UK, a Bank of England policymaker has warned. A shortage of workers and high wage demands were likely to continue pushing up inflation, acting as a counterweight to falling energy prices, said Catherine Mann, a member of the Bank’s […]
The shift to electric cars has continued with combined battery-electric, plug-in hybrid and hybrid electric vehicle production in January rising by almost 50 per cent compared with a year ago. The latest figures from the Society of Motor Manufacturers and Traders show that the total number of electric or hybrid vehicles produced was 28,329, representing […]
Britain’s biggest grocer Tesco has agreed to increase its workers’ wages by 7%, marking their third pay rise in just 10 months. From April, staff will be paid £11.02 an hour outside London, up from £10.30, with more than 200,000 set to benefit. As in other industries, supermarket staff have been pushing for higher pay […]
Real wages fell by 2.5 per cent in the three months to December, government statistics showed today, representing one of the largest drops since records began 20 years ago. An average salary increase of 6.7 per cent translated to a real-terms pay cut once inflation was accounted for. The biggest income drop was for those […]
Ford has announced plans to cut 1,300 jobs in the UK over the next two years, a fifth of its total workforce in the country. It is part of a major restructuring programme that will see the carmaker cut 3,800 jobs overall across Europe. Ford is cutting back on development staff as it faces an […]