Scotland’s last remaining oil refinery at Grangemouth will close between April and June next year, resulting in the loss of 400 jobs and leaving the UK with only a handful of refineries. The closure, announced by Petroineos—a joint venture between Sir Jim Ratcliffe’s Ineos and PetroChina—comes as domestic demand for motor fuels declines, exacerbated by […]
The UK’s public debt could surge to as high as 300% of GDP over the next half-century, driven by escalating costs related to climate change and an ageing population, the Office for Budget Responsibility (OBR) has warned. In its latest report on long-term fiscal risks, the independent watchdog cautions that current policy choices and future […]
HSBC UK has unveiled the HSBC Women’s Business Growth Initiative, a £250 million funding programme designed to support women-led businesses by addressing the critical barrier of access to finance. New research by HSBC reveals that nearly one in five (18%) female business leaders view funding as a significant obstacle to scaling their enterprises. The initiative […]
The UK’s Christmas food deliveries are at risk as new EU border checks could disrupt the flow of fresh goods, warns Logistics UK. The trade group is raising alarms over the EU’s forthcoming Entry/Exit System (EES), set to launch on 10 November, which mandates fingerprint and facial recognition checks for all non-EU passengers at Dover. […]
HM Revenue and Customs (HMRC) has sacked 179 employees for gross misconduct in 2024, the highest number in at least five years, according to data obtained through a freedom of information request. This represents a 43% increase from 2020 when 125 employees were dismissed for similar reasons, accounting for just 28% of all terminations at […]
Chancellor Rachel Reeves has faced criticism after justifying her decision to claim £4,400 in taxpayer-funded expenses for heating her second home, a day after MPs voted to scrap winter fuel payments of up to £300 for millions of pensioners. The decision comes as the government moves to cut benefits for pensioners while maintaining expense claims […]
Angela Rayner, Secretary of State for Housing, Communities and Local Government, has endorsed plans to transform the disused Trelavour clay pit near St Austell into a major lithium mine, a move that could significantly bolster the UK’s battery-making capabilities. The site, operated by Cornish Lithium, is projected to supply 25,000 tonnes of lithium per year […]
Rightmove has turned down a £5.6 billion takeover bid from Rupert Murdoch’s REA Group, labelling the offer as “opportunistic” and asserting that it undervalues the UK’s leading online estate agent. REA Group, the Australian real estate conglomerate controlled by Murdoch’s News Corp, submitted an indicative cash and share proposal valuing Rightmove at 705p per share—a […]
Cuts to public funding for quantum computing research could jeopardise decades of investment and leave the UK dependent on other countries for access to cutting-edge technology, according to the founders of leading UK quantum start-up, Phasecraft. Ashley Montanaro and Toby Cubitt, co-founders of Phasecraft—a company that spun out from University College London and the University […]
Article content CALGARY — TC Energy Corp. says a deal to sell a minority stake in its Western Canadian natural gas transmission network to a consortium of Indigenous communities has been delayed. The $1-billion agreement, announced in July, is meant to enable 72 Indigenous communities to take a 5.34 per cent stake in its Nova Gas […]