Ministers will have to “grasp the nettle” on bringing forward the rise in the state pension age to 68 in the first couple of years of the next parliament, Mel Stride, the work and pensions secretary, has suggested. After delaying the decision because of stalling life expectancy, Stride said it would still have to be […]
Twitter’s CEO, Elon Musk, said on Thursday that he has found a new chief executive for the social media platform and that she will be starting in about six weeks. “My role will transition to being exec chair & CTO, overseeing product, software & sysops,” Musk said in a tweet. However, the billionaire did not […]
The UK economy eked out growth in the first quarter of the year, accelerating at a modest pace to ensure that the economy is not at immediate risk of recession. Quarterly growth between January and March rose by 0.1 per cent compared with the same period last year, in line with economists’ forecasts and matching […]
The Bank of England has raised interest rates by a quarter of a percentage point to 4.5% amid growing concerns about persistently high inflation in the UK. The Bank’s monetary policy committee voted by a majority for a 12th successive increase in borrowing costs, continuing its most aggressive rate-hiking cycle since the 1980s in an […]
The boss of the banking industry body UK Finance has called on social media companies to reimburse victims of online fraud, accusing them of “profiting” from scams taking place on their platforms. Figures from its fraud report show that 78% of authorised push payment scams, where a victim is tricked into approving a transaction, started […]
Only 6% of UK businesses have confidence in the UK Government to deliver economic growth in 2023. The survey, by accountancy network Moore UK, found that the majority of UK businesses do not have confidence in the Government to stimulate economic growth this year. There is considerable pessimism about the UK’s economic prospects in 2023. The International […]
UK businesses overpaid £11.9bn in corporation tax the past year says UHY Hacker Young, the national accountancy group. UHY Hacker Young warns businesses that HMRC will not automatically refund them if they overpay corporation tax. They must reclaim any overpayment themselves – and if they fail to realise they have overpaid, they will miss out […]
LinkedIn has become the latest tech firm to axe jobs, closing 716 roles out of a 20,000 workforce. The social media network which focuses on business professionals will also phase out its local jobs app in China.In a letter by the company’s chief executive Ryan Roslansky, he said the move was aimed at streamlining the […]
British businesses are increasingly worried about access to funding, with new data showing banks are reducing SME lending. According to figures from fintech firm Iwoca, 77 per cent of brokers said that high street banks are reducing their appetite to fund SMEs. The information was collated from more than 100 SME finance brokers who submitted […]
Ryanair has agreed a $40bn (£31bn) deal with Boeing that will see it purchase up to 300 new aircraft over the next decade. Half of the 737-MAX-10 order has been described as firm, with the remaining being options. The airline claims this is the largest order ever placed by an Irish company for US manufactured […]