It has been reported that the jobs market of the UK is showing a cooling effect, with fewer individuals being placed in permanent jobs and wage growth slowing. Big employers have been found to make fewer hires and more redundancies. This slowdown has been observed for almost two years, and the pace of pay rates …
Barclays has become the first bank in the UK to abolish its cap on banker bonuses. Bonuses, previously restricted to twice salary, can now go as high as 10 times salary. Staff has been informed of the move through an internal memo circulating within, which is understood to be a new incentive to attract and …
The Royal Mint, based in Wales, is about to inaugurate an electronic waste recycling plant for the extraction of gold from devices such as mobile phones, laptops, and other gadgets. This extraction will be used in making jewelry and special coins, hence doing this practice of recycling in-house and precluding the movement of such valuable …
The grand railway project, which aims at redeveloping the South East Northumberland connection to Newcastle, the Northumberland Line, is delayed. The initial opening of the first three stations—Seaton Delaval, Ashington, and Newsham—will now take place in December after the railway's summer schedule was delayed due to inclement weather hitting construction. The scheme remains very exciting …
In one of the surprise turns of events, used electric cars (EVs) have turned cheaper than their petrol or diesel counterparts. Based on the data available from Cap HPI, a used electric car costs an average 8.5% less than its analogous gas-powered variant after three years. The price difference increases to 14% when an EV …
Advanced Computer Software Group, an NHS software company, looks set to receive a £6 million fine after a data breach in its system last year exposed sensitive information regarding over 80,000 people. The breach carried out disruptions of health services inside County Durham and Darlington Trust and a critical review of their data protection practices. …
Two Carpetright stores in Kent that were set to close due to the parent company's decision to go into administration will actually reopen their doors under new ownership. Bensons for Beds will occupy the stores in Canterbury and Gillingham, potentially saving some of the jobs. Bensons for Beds is on the verge of filling the …
Each store across the UK has been advised to lock up their business ahead of time over fears of more riots and violence after the prevailing incidents of vandalism, arson, and looting. Shopkeepers are now getting jittery. The authorities and business groups have warned of taking necessary precautions for safety with the unrest continuing from …
Independent monitor now takes control over the largest water company in the UK, Thames Water, given the financial debacle. This will ensure that the latter strengthens both its operational and financial status and does not get subjected to a government takeover. The independent monitor will track actions taken by Thames Water and report back to …
The first ever transatlantic flight powered with 100% sustainable aviation fuel, as continued to be talked about by Virgin Atlantic, was recently banned by the Advertising Standards Authority. In the report, it had been mentioned that despite being powered by SAF, the fuel still "produces significant emissions and has other environmental trade-offs." The ASA said …
The UK Chancellor, Rachel Reeves, eyes the pension model of Canada as a means to revamp the country's local government pension scheme. This move will consolidate the smaller pension funds into one large and more efficient fund, hence driving more significant investments into infrastructure and businesses. Rachel Reeves' Plan to Overhaul UK Pensions: Turns to …
July saw UK house prices jump to 0.8%, reaching an average property price of £291,268. With mortgage rates projected to stay lower for longer, the housing market is expected to rise stronger throughout the year. This is coming on the back of slow growth, and experts foresee moderate rises in a future ahead. UK home …
A lawsuit was filed by Elon Musk's company X, formerly Twitter, against some of the platform's biggest advertising clients, including Unilever and Mars, over an alleged boycott of the platform. The lawsuit claims it cost X billions of dollars in lost ad revenue. Legal experts have said this could be a tough case to prove. …
Interim dividend up 5% at Legal & General Group PLC, despite flat profits in the first half of 2024. New CEO António Simões has growth targets and mixed divisional results. It intends to grow dividends and share buybacks through 2027. Legal & General Group PLC announced a 5% increase in the interim dividend when the …
