The rapid automation of millions of jobs through artificial intelligence could intensify economic inequality across the UK unless the government steps in with targeted support, according to a new study by the Institute for the Future of Work (IFOW). The three-year report found that businesses and workers alike face wide-ranging challenges, from rising skills gaps […]
British companies fear a “significant fall” in their trading prospects over the next few months, raising concerns about further job losses and derailing Labour’s ambitions to reboot economic growth. A survey by the CBI found that a net 22 per cent of private sector firms expect their output to drop between now and April, matching […]
London-based solar tech startup GRYD Energy has secured £1 million in pre-seed funding to scale its subscription-based solar and battery systems across the UK. Investors in the round include Black Seed VC, an early-stage fund dedicated to Black founders, and SFC Capital, a leading early-stage investor in disruptive British businesses. GRYD’s groundbreaking “solar-as-a-service” approach removes […]
Gresham House Ventures has committed €4.25 million to Dublin-based Mobility Mojo, a SaaS platform that helps organisations audit and enhance the accessibility of their buildings and facilities. Launched in 2018 by founders who are themselves wheelchair users, Mobility Mojo aims to standardise and streamline how companies benchmark and promote accessible environments. By replacing traditional, paper-based […]
CS Venkatakrishnan, chief executive of Barclays, could see his maximum pay rise by 45 per cent to £14.3 million under a pay overhaul being considered by the lender’s board. The proposal would reduce his fixed salary nearly by half, from £2.95 million to £1.59 million, but allow him to earn annual and longer-term bonuses worth […]
Rachel Reeves, the chancellor, will instruct the national wealth fund (NWF) and the Office for Investment to coordinate their efforts with regional mayors for the first time. The plan is part of a series of measures designed to boost local and national prosperity by strengthening collaboration between Whitehall and devolved administrations. Following a meeting with […]
The number of UK businesses in critical financial trouble jumped by a record 50.2 per cent quarter-on-quarter to 46,853 in the final three months of 2024, according to new data from insolvency specialist Begbies Traynor Construction and consumer-facing companies are bearing the brunt of this distress, heightening fears of widespread insolvencies in the year ahead. […]
Consumer confidence in the UK has fallen sharply to its lowest point in over a year, according to the latest GfK data, suggesting that households are pessimistic about both personal finances and the wider economic outlook. Figures for January show the overall GfK consumer confidence index dropping five points from December to -22, its weakest […]
Charlie Nunn, Lloyds Banking Group’s chief executive, has welcomed the government’s decision to intervene in a landmark car finance mis-selling case and expressed hope that it will help bring clarity to an industry under legal and regulatory pressure. His comments follow the Treasury’s announcement that it will seek permission to raise its concerns in a […]
Donald Trump is reportedly still threatening to block Peter Mandelson’s appointment as Britain’s next ambassador to Washington, unless the UK government agrees to impose tight restrictions on his conduct. The incoming Trump administration is said to be pressuring Sir Keir Starmer to bow to these “undiplomatic” demands or risk an unprecedented refusal of his chosen […]