The UK government has announced the release of £13.5 million in emergency funding to support supply chain businesses and workers impacted by Tata Steel’s restructuring plans at its Port Talbot site in South Wales. The funding marks the first allocation from a transition board set up to manage the effects of Tata’s shift from traditional […]
The Treasury has reassured that it remains in “positive discussions” with AstraZeneca regarding the pharmaceutical giant’s proposed £450 million vaccine manufacturing facility in northwest England. However, doubts have emerged following reports that the government is considering reducing its financial support for the project to £40 million—a significant cut from the £65 million reportedly promised by […]
Asda has experienced a notable decline in its grocery market share, just days after its chairman, Lord Rose of Monewden, publicly expressed his dissatisfaction with the supermarket’s performance. According to recent data from Kantar, Asda’s sales fell by 6% in the 12 weeks leading up to 4 August, reducing its market share from 13.7% to […]
Inflation in the UK climbed for the first time this year, reaching 2.2% in July, slightly above the Bank of England’s 2% target, according to the latest figures from the Office for National Statistics (ONS). This uptick was primarily driven by a less pronounced drop in gas and electricity prices compared to the previous year, […]
The UK’s unemployment rate has unexpectedly dropped, while wage growth continues to rise at its slowest pace in two years, according to the latest figures from the Office for National Statistics (ONS). Data for July revealed that the unemployment rate fell to 4.2%, defying economists’ forecasts of an increase to 4.5%, up from the 4.4% […]
The Advertising Standards Authority (ASA) is set to issue a ruling this week banning advertisements for the nutrition brands Huel and Zoe, due to their failure to disclose their commercial connections with celebrity entrepreneur Steven Bartlett. Bartlett, a prominent figure known for his role on BBC’s Dragons’ Den and as the host of the popular […]
Ministers are preparing to cap the profits landowners can make from selling green belt land as part of the government’s strategy to deliver 1.5 million new homes by 2030. The proposed reforms would give councils the power to compulsorily purchase green belt land at a lower “benchmark” value, curbing the potential for landowners to cash […]
Patrick Drahi, the debt-laden media tycoon, has sold a 24.5 per cent stake in BT Group to Bharti Global, the international investment arm of India’s Bharti Enterprises. The transaction marks a significant shift in ownership for the British telecoms giant as Bharti Global becomes its largest shareholder. Bharti Global has confirmed that it has no […]
UK inflation is anticipated to rise again, weeks after the Bank of England reduced interest rates for the first time in over four years. This increase is expected to be reflected in figures due to be published this week, with City analysts predicting that inflation will have climbed to 2.3 per cent in July, up […]
HM Revenue & Customs (HMRC) has conceded that it is unlikely to recover more than £19 billion in unpaid taxes, as the department grapples with a significant rise in uncollected tax debt and a dramatic increase in customer service failures. According to HMRC’s latest annual report, the total amount of unpaid taxes has surged to […]