Banking giant Lloyds has allocated £450 million to cover potential costs related to an investigation into car finance deals conducted by the UK’s financial regulator, the Financial Conduct Authority (FCA). The FCA initiated an investigation last month to examine whether consumers were overcharged for car loans. The probe focuses on commission arrangements between brokers arranging […]
The Equalities and Human Rights Commission (EHRC) has issued guidance clarifying the legal obligations of employers regarding menopausal women in the workplace. Failure to make “reasonable adjustments” for menopausal women, such as allowing them to work from home or adjusting office temperatures, could lead to potential disability discrimination lawsuits, according to the EHRC. The guidance […]
Leading economists have cautioned the Lords Economic Affairs Committee that achieving net zero emissions will come with a significantly higher price tag than what the public currently perceives. Olivier Blanchard, former chief economist of the International Monetary Fund (IMF), emphasized that while transitioning to a low-carbon economy is imperative, the endeavor will be much costlier […]
Reports suggest that the Abu Dhabi sovereign wealth fund is considering an investment in London’s Heathrow Airport, potentially joining forces with Saudi and Qatari investors. The potential deal, as reported by Bloomberg, could see the UAE’s Mubadala Investment Company partnering with Saudi Arabia’s Public Investment Fund and Qatar’s Investment Authority to acquire stakes in the […]
Fiat has issued a stark warning, urging the government to reinstate its axed grant for electric cars to ensure the UK meets its ambitious sales targets for electric vehicles (EVs) by the end of the decade. With the UK aiming for 80% EV sales by 2030 and bans on new petrol and diesel vehicle sales […]
Multi-billionaire Jeff Bezos, the founder and executive chair of Amazon, has recently concluded an ambitious share sale plan, offloading a staggering 50 million Amazon shares over the past nine trading days, with a total value of approximately $8.5 billion. This latest transaction, involving the sale of 14 million shares worth around $2.4 billion, marks the […]
HSBC, Europe’s largest bank, has announced a substantial 80% surge in pre-tax profits, reaching $30.3 billion (£24 billion) in 2023, primarily propelled by elevated interest rates globally. This impressive performance follows a series of interest rate hikes by central banks worldwide over the past 18 months aimed at taming inflationary pressures. Last week, rival lender […]
The Body Shop has announced plans to close nearly half of its 198 stores in the UK, resulting in significant job losses. The decision comes as part of a broader restructuring effort aimed at revitalising the brand and ensuring its long-term sustainability. According to the administrators overseeing the restructuring, closures will commence immediately, with affected […]
The UK has recently welcomed one of its most technologically advanced indoor farms in Gloucestershire, boasting remarkable capabilities in salad production. This vertical farm utilises controlled, consistent climate conditions to accelerate salad growth, achieving rates three times faster than traditional outdoor agriculture. Under specialised lighting and in a warm, humid atmosphere, lettuce, basil, and various […]
The chair of the UK’s statistics watchdog, Sir Robert Chote, has issued a scathing rebuke to two Treasury ministers regarding recent assertions on tax cuts for average earners, citing concerns over potential public confusion or misinformation. Chief Secretary to the Treasury Laura Trott faced criticism after claiming in November that “taxes for the average worker […]