Shrinking workforce limiting UK economic growth, MPs warn April 21, 2023 The UK’s shrinking and ageing population is limiting economic growth, with “outdated and static” working practices, MPs have warned. An “exodus” of over-50s from the labour market has worsened shortages, a cross-party House of Commons Business, Energy and Industrial Strategy (BEIS) committee report said. Chairman Darren Jones said: “Our shrinking and ageing UK labour market, and [...]
SpaceX Starship: Elon Musk owned rocket – the biggest and most powerful ever – explodes minutes after take off April 20, 2023 SpaceX’s Starship – the biggest and most powerful space rocket ever developed – has exploded minutes after blasting off. The launch, which took place from SpaceX’s Starbase in the US state of Texas, came after a stuck valve forced a launch attempt on Monday to be aborted. While Thursday’s launch saw the rocket leave the [...]
Jeremy Hunt throws out concerns over job losses and insists UK needs to “win” AI race April 20, 2023 Jeremy Hunt said he doesn’t “buy” the argument that artificial intelligence (AI) could create job losses as he insisted the UK should push ahead in harnessing the technology. Speaking at the Politico TechUK launch event in London, the Chancellor said use of artificial intelligence in technology was crucial to tackling the UK’s “growth challenge,” as [...]
SNP treasurer Colin Beattie steps down from role after arrest April 19, 2023 SNP MSP Colin Beattie will step down as the party’s treasurer after he was arrested in connection with a police investigation into the party’s finances, he has said. In a statement released through the party, Beattie also confirmed he will be “stepping back” from his role on Holyrood’s Public Audit Committee until the probe has [...]
Bank of England to hike interest rates to five per cent after inflation tops forecasts to stay in double digits April 19, 2023 UK inflation has smashed expectations to stick in the double digits, in a sign that the cost of living crisis is still gripping families and businesses across the country, prompting markets to bet the Bank of England will hike interest rates to five per cent. The rate of price increases trimmed to 10.1 per cent [...]
Minister Paul Scully ‘considering’ running for London mayor in 2024 April 18, 2023 Minister for London Paul Scully said today he is “considering” running against Sadiq Khan to be the next London mayor in 2024. Speaking at a Centre for London event today, Scully said: “Let me tackle this head on, am I considering running for London mayor in 2024? Yes, I am considering it. I haven’t made [...]
SNP treasurer Colin Beattie arrested in party finance probe April 18, 2023 The Scottish National Party’s (SNP) treasurer Colin Beattie has been arrested in a police probe into the party’s finances, according to reports. Beattie, 71, is under arrest in connection with the ongoing investigation into the funding and finances of the party, Police Scotland has said, the PA news agency has reported, In a statement, the [...]
Retail groups call for business rates reform to save Britain’s high streets April 17, 2023 Retail and hospitality groups have called for urgent reform of business rates, which are contributing to shop closures and job losses. “Retail accounts for 5 per cent of the economy but pays more than one-fifth of business rates,” Helen Dickinson, British Retail Consortium (BRC) chief executive, said. “The overall industry tax take is unsustainably high [...]
Influential shareholder group backs re-election of Barclays board despite concerns over ex CEO Staley April 17, 2023 Institutional Shareholder Services (ISS) recommended Barclays shareholders re-elect all of its board members, but admitted that “questions may be posed” over the board’s decision to back disgraced ex-CEO Jes Staley between 2019-2021. ISS argued that it was too soon to make a judgement on the board’s actions regarding Jes Staley, suggesting that investors wait for [...]
Sir Martin Sorrell: S4 Capital boss made ‘excellent recovery’ after tumour April 17, 2023 Sir Martin Sorrell has revealed that he had keyhole surgery to remove a tumour in February and is underdoing further “preventative treatment”. The 78-year-old advertising mogul, who is currently executive chair at S4 Capital, said he has made an “excellent recovery” following the tumour operation. Sir Martin added in a statement that he is having [...]