Ministers will take greater powers in tackling unfair trade practices, reducing the role of an independent body set up after Brexit to adjudicate disputes. In a move welcomed by industry, Kemi Badenoch, the business and trade secretary, announced changes to the way in which Britain investigates unfair practices. The Trade Remedies Authority was established in […]
In a joint operation with the Metropolitan Police, the Financial Conduct Authority inspected several ATM sites, using its enforcement powers. Mark Steward, Executive Director of Enforcement and Market Oversight at the FCA, said: ‘Crypto ATMs operating without FCA registration are illegal and, as today shows, we will take action to stop this. ‘This operation, alongside last […]
Ministers are set to delay construction of key sections of the HS2 rail line, with a statement expected imminently outlining the extent of budget overruns amid soaring inflation. It is understood that parts of the high-speed network between Crewe and Birmingham are likely to be delayed or trimmed, while full running of trains into London […]
Pressure is mounting on the Chancellor to scrap changes to research and development (R&D) tax credits in next week’s budget as over 150 start-ups and Britain’s biggest small business body launch a fresh offensive on the Treasury. In an open letter published last night, the group of start-ups wrote to Chancellor Jeremy Hunt warning that […]
The UK is poised to avoid a recession this year but suffer a slow burning economic slump that will leave GDP below its pre-pandemic level until the final months of next year, new forecasts claim. Stronger than expected household spending despite sky high inflation plaguing families’ finances will put the economy on a better than […]
The RMT union has said members will vote in a referendum over the next 12 days on a revised pay offer from Network Rail, in a move that could spell the end to the most damaging rail strikes. On Tuesday night the union called off a 24-hour strike at Network Rail planned for next Thursday, […]
BMW is on the verge of announcing that it is to bring an electric version of the Mini to its Cowley plant in Oxford. The company is understood to be close to giving the green light for zero-emission Mini models to go into production in 2026 after securing taxpayer support. BMW had always maintained that […]
The operator of the Wagamama and Frankie & Benny’s restaurant chains has announced plans to exit from about 35 uneconomic restaurants in its leisure division as it seeks to whittle down its least successful businesses. The Restaurant Group (TRG) announced the move alongside a three-year plan to reduce debt and improve margins in what was […]
The UK’s gender pay gap has widened as sharp increases in the cost of childcare has worsened a “motherhood penalty”, pricing many women out of work altogether, according to a new report. The nation’s average pay gap widened by 2.4 percentage points to 14.4 per cent in 2021, accountancy giant PwC found in its Women […]
UK consumers sharply cut back their spending in February as soaring living costs damaged household finances, retailers have warned, despite strong sales of jewellery and fragrances for Valentine’s Day. Highlighting the impact of the cost of living crisis on the economy before Jeremy Hunt’s budget next week, the British Retail Consortium (BRC) said sky-high energy […]