Chancellor Kwasi Kwarteng will deliver a mini Budget on September 23 after MPs agreed to delay the start of their “party conference recess”. Kwarteng will commit Liz Truss’s government to a radical programme to boost the UK’s growth rate, including deregulation and tax cuts. Truss, who will be in the US next week attending the […]
Retail sales fell by much more than expected in August as the cost of living crisis dragged on demand for both essential and non-essential goods. Figures from the Office for National Statistics (ONS) showed volumes 1.6% down on July – the largest monthly drop since December last year. Economists had expected a decline of around […]
Uber said on Thursday it is responding to a cybersecurity incident, after the New York Times reported that a hack had breached the company’s network and forced it to take several internal communications and engineering systems offline. A hacker compromised an employee’s workplace messaging Slack app and then used it to send a message to […]
Consumers are racing to exchange their old paper banknotes for new plastic versions, just over a fortnight before they cease to be legal tender at the end of September. The Bank of England has warned people to expect long queues at its headquarters at Threadneedle Street in the City of London as they try to […]
A Las Vegas-led consortium is pushing to buy A.F.C Bournemouth, the PA news agency understands. The club’s owner, Maxim Demin, is thought to be weighing up whether to sell, with US investors ready to pay £150m. An American takeover at Bournemouth would mean that more than half of Premier League clubs had minority or majority […]
Amazon workers at a Coventry warehouse will become the first in the UK to take part in a formal strike ballot. Hundreds of workers will today begin voting on whether to walk out in anger over the company’s 35 pence per hour pay offer. The ballot closes on 19 October, with any industrial action likely […]
The UK’s financial sector is experiencing a wave of brute force Distributed Denial of Service (DDoS) attacks, new data obtained through a freedom of information request shows. Hackers are increasingly using brute force tactics to launch cyberattacks against the UK’s financial sector, as they pivot away from using phishing and malware scams, the Financial Conduct […]
Despite the cost-of-living crisis, salaries have dropped since Covid, with the initial uptick in economic activity in 2020 failing to line the pockets of UK staff. That’s according to the latest data from the Association of Professional Staffing Companies (APSCo) – the trade body for the professional recruitment sector. The data – provided by the […]
The EU executive plans to raise about €140bn (£121bn) by imposing windfall taxes on energy companies’ “abnormally high profits” and redirecting proceeds to households and businesses struggling with soaring bills. Announcing long-awaited emergency measures to tackle the rising price of electricity, the EU official in charge of the green transition, Frans Timmermans, said the plans […]
The John Lewis Partnership slumped to a first half loss of £99m largely driven by soaring inflation which prompted customers to spend less in its stores. Inflation also hit costs, as the department store group warned of a “highly uncertain” outlook in the run-up to the key Christmas sales period due to the cost of […]