The UK government has relinquished its status as a controlling shareholder in Natwest after reducing its stake to below 30 per cent. Natwest, formerly known as the Royal Bank of Scotland, disclosed in a stock market filing that the Treasury’s stake had fallen to 29.82 per cent on March 22nd through its daily trading plan. […]
Jeremy Hunt has confirmed that if the Conservatives win the upcoming election, they will retain the triple lock system for determining increases in the state pension. This system ensures that the pension rises in line with either average earnings growth, inflation, or 2.5%, whichever is highest. The chancellor emphasized the importance of the triple lock […]
Avanti West Coast has reached an agreement with the union Aslef to increase the fee for train drivers working overtime shifts to £600. This deal aims to incentivise drivers to work extra shifts, thereby enhancing the reliability and resilience of Avanti’s services. Previously, the overtime deal involved a flat £125 payment plus an hourly rate, […]
Chinese electric vehicle battery manufacturer EVE Energy is reportedly in discussions to invest over £1 billion in constructing a massive new gigafactory on the outskirts of Coventry. The proposed factory, spanning 5.7 million square feet, would be a key component of the planned UK Centre for Electrification in the West Midlands region. The investment could […]
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Wetherspoon, the pub chain, has experienced a significant surge in profits, marking an eightfold increase, as it continues its recovery from the Covid-19 pandemic. Pre-tax profits soared from £4.6 million to £36 million in the first half of the financial year, driven by higher footfall in the group’s pubs. Despite a reduction in the number […]
A report from the Resolution Foundation suggests that the number of individuals exiting the workforce due to long-term sickness has reached its highest level since the 1990s. According to the report, the count of economically inactive adults due to ill-health surged from 2.1 million in July 2019 to a peak of 2.8 million in October […]
Chancellor Jeremy Hunt’s remarks about £100,000 not being a significant salary for residents in his Surrey constituency have sparked controversy and criticism. Hunt made the statement on social media while discussing government childcare eligibility criteria, which exclude families with a parent earning over £100,000. Labour representatives swiftly condemned Hunt’s comments, arguing that they illustrate the […]
Aston Martin has made a significant move by poaching the chief executive of rival Bentley to lead the London-listed carmaker, marking the third change in leadership within four years. Adrian Hallmark, 61, who spearheaded a successful turnaround at Bentley under Volkswagen’s ownership, will now take the helm at Aston Martin. During his tenure, Bentley experienced […]
Bahrain’s sovereign wealth fund, Mumtalakat Holding Company, has finalised a deal to become the sole shareholder of McLaren Group, marking a significant milestone in the journey of one of Britain’s most iconic automotive manufacturers. After years of negotiations aimed at securing the long-term stability of the company, McLaren is now under the full ownership of […]