Lloyd’s of London is to give staff earning less than £75,000 per year a £2,500 one-off payment later this month to help with surging inflation. Chief Executive John Neal told media this morning that it was set to be a “pretty rotten winter” and “as employers we’ve got an obligation to think, to care and […]
The British pound has hit its lowest level against the US dollar in almost four decades. Just after 2pm on Wednesday, sterling fell to $1.1407, according to Refinitiv data – its lowest point since 1985. The pound has lost more than 15% against the dollar so far this year, hurt by both the dollar’s strength […]
The bosses of Britain’s biggest banks will hold talks with the new chancellor on Wednesday as he tries to exert a grip on the stalling UK economy. It is understood that Kwasi Kwarteng has convened a meeting with the chief executives of lenders including Barclays, Lloyds Banking Group and NatWest Group just hours after being […]
Holiday Inn owner, Intercontinental Hotels Group (IHG), has confirmed the company has been hit by a cyber-attack. IHG, which has some of the world’s largest hotel chains, issued a statement saying it was investigating “unauthorised access” to a number of its technology systems. The UK-based company said its “booking channels and other applications” had been […]
Jacob Rees-Mogg was named the new Secretary of State for Business, Energy and Industrial Strategy (BEIS) following Liz Truss’ cabinet reshuffle last night. He will take on the BEIS department from Kwasi Kwarteng, who has been named Chancellor. Rees-Mogg tweeted that it was an “honour” to be appointed Business Secretary. It is an honour to […]
Uber’s former security officer, Joe Sullivan, is standing trial this week in what is believed to be the first case of an executive facing criminal charges in relation to a data breach. The US district court in San Francisco will start hearing arguments on whether Sullivan, the former head of security at the ride share […]
The UK’s biggest broadband providers are to benefit from an almost £2bn windfall when they push ahead with inflation-busting price increases next spring which will further fuel the cost-of-living crisis, an analysis shows. Many of the country’s main internet providers – including the largest player BT, along with TalkTalk, Shell and Vodafone – use a […]
Waitrose has admitted to blocking rivals from opening supermarkets in close locations for close to a decade, according to the market watchdog. During an investigation between 2010 and 2019 into supermarket practices, the Competition and Markets Authority (CMA) found that Waitrose had conspired with landlords to prevent competing companies from opening stores. The practice, which […]
Bus journeys in England will be capped at £2 between January and March next year to help people deal with the rising cost of living. The Department for Transport said the plan could see some passengers save more than £3 per single bus ticket. The average fare for a three-mile journey is around £2.80, the […]
After a summer rife with industrial action, Britons face even more uncertainty after it was announced tens of thousands of firefighters and control room staff will be balloted on whether to strike over pay. The Fire Brigades Union (FBU) said 32,500 of its members across the UK will vote in the next few weeks on […]