Burberry is set to cut up to 1,700 jobs — nearly 18% of its global workforce — as part of a sweeping cost-saving plan aimed at stabilising the business after a sharp downturn in the global luxury market pushed it into a pre-tax loss of £66 million. The iconic British fashion house announced the measures […]
Jaguar Land Rover (JLR) has posted its highest annual profit in a decade, marking a strong year for the British carmaker despite lingering uncertainty over US trade tariffs. The Tata Motors-owned firm reported pre-tax profits of £875 million for the final quarter of its financial year, taking annual profits to £2.5 billion — up from […]
Chancellor Rachel Reeves has refused to rule out compelling UK pension funds to invest in domestic assets, escalating tensions with the pensions industry just hours after the announcement of the new £50 billion Mansion House accord. The government had celebrated a voluntary commitment by 17 of the UK’s leading defined contribution pension providers to invest […]
Microsoft is laying off approximately 6,000 employees worldwide — nearly 3% of its global workforce — in its largest round of job cuts since early 2023. The move comes as the $3.3 trillion tech giant seeks to manage the growing financial pressure from its aggressive investment in artificial intelligence infrastructure, despite delivering strong quarterly results […]
The UK government’s ambitious immigration reforms risk harming economic growth and deepening the country’s skills crisis unless matched by a fundamental overhaul of the domestic training system, leading business groups have warned. Following Prime Minister Sir Keir Starmer’s announcement of a “comprehensive plan” to reduce immigration, the Institute of Directors (IoD) said the proposals could […]
The UK has taken a major step towards mainstream adoption of digital assets with the launch of GFO-X, London’s first regulated and centrally cleared cryptocurrency derivatives trading platform. Backed by FTSE 100 asset manager M&G and authorised by the Financial Conduct Authority (FCA), GFO-X will offer institutional investors access to bitcoin index futures and options. […]
A combination of unseasonably sunny weather and the later timing of the Easter break fuelled a sharp increase in retail sales across the UK in April, as consumers headed outdoors and opened their wallets for home and garden improvements, new data shows. Retail spending rose by 7% year-on-year last month, according to figures from the […]
Wage growth in the UK has slowed to its weakest level since November, while unemployment has crept higher, as businesses brace for a series of cost pressures including tax hikes and a rise in the national minimum wage. According to new data from the Office for National Statistics (ONS), regular pay excluding bonuses rose by […]
Disabled entrepreneurs are being held back by widespread financial, operational, and accessibility barriers — at a staggering cost to the UK economy of up to £230 billion, according to the final report of the Lilac review, published on Monday. The government-backed, independent review highlights the systemic disadvantages faced by the estimated one in four UK […]
Andrew Bailey, the Governor of the Bank of England, has called for renewed efforts to rebuild trade ties with the European Union, warning that repairing the damage caused by post-Brexit disruption would be “beneficial” for the UK economy. His comments come just ten days before a pivotal UK-EU summit in London, where Prime Minister Keir […]