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 […]
More people are entering or returning to work as the cost of living continues to bite into household finances. The Office for National Statistics said a record number of people moved out of “economic inactivity”, which is defined as people not looking for work, between July and December, as more got jobs. It was driven […]
The biggest rail workers’ union has rejected what the Transport Secretary has described as the “best and final offers” aimed at resolving the long-running disputes over pay, jobs and conditions. Mark Harper described the move by the Rail, Maritime and Transport union (RMT) to reject the proposals from Network Rail and the train operating companies […]
Start-up group Tech Nation has reportedly lined up a host of potential bidders for its assets as it prepares to close down in March following the government’s controversial move to hand its funding to Barclays. Around 30 buyers have now lined up to potentially swoop on the firm’s assets, including the networking group run by […]