Baby formula price cap could be considered by ministers, regulator says November 8, 2024 The government could consider introducing a price cap on baby formula with the aim of cutting costs for parents, the Competition and Markets Authority (CMA) has said. Parents are left “paying over the odds” for formula milk due to concerns around regulation in the market, the watchdog has said in an interim report into the [...]
Serco: FTSE 250 firm predicts £20m hit from Budget tax changes November 8, 2024 British outsourcing giant Serco stressed the tax changes in the UK following the Budget will increase cost by £20m per year
Tata Steel: Plans submitted for new electric arc furnace in Port Talbot November 7, 2024 Tata Steel has submitted a planning application for a new electric arc furnace at its Port Talbot plant. The Indian steel manufacturer wants to build the new state of the art furnace after it closed its blast furnaces in September, cutting 2,000 jobs. Tata says the move would be a “significant step in the company’s [...]
Labour must get Trump relationship right to avoid tariff chaos, Stride warns November 7, 2024 Shadow Chancellor Mel Stride has said that it is essential for the Labour government to develop a good relationship with Donald Trump in a bid to avoid the damaging impact of any potential trade tariffs. The incoming US president has said he may put tariffs of 10 to 20 per cent on countries such as [...]
UK farms could shrink ‘like Russian dolls’ amid tax row, government warned November 7, 2024 The UK’s farms could be set to shrink “like Russian dolls”, the government has been warned, thanks to Labour’s inheritance tax changes announced in the Budget. Shadow business secretary – and former City minister – Andrew Griffith has cautioned that the policy could mean “like Russian dolls, with each generation that passes, you end up [...]
Ministerial freebies rules tightened – but Starmer stops short of banning gifts November 6, 2024 Keir Starmer has tightened up the rules on ministers accepting freebies, according to new guidelines, but stopped short of banning gifts and hospitality. An update to the government’s ministerial code published today included new advice for ministers who accept freebies and hospitality, which took a tougher stance than the previous document. The new code states: [...]
Bank of England and Fed to cut interest rates despite fiscal fears November 6, 2024 The Bank held rates at its last meeting in September, but signalled that further cuts were on the way if there continued to be progress on inflation.
Analysis: What does Trump’s victory mean for the UK? November 6, 2024 Donald Trump’s political resurgence poses important questions for the UK and the wider world. After securing the requisite 270 electoral college votes, Trump is on course to return to the White House as the 47th President of the United States, in January. And from his dealings with global leaders, the UK-US special relationship, to military [...]
FTSE 100 falls back as traders digest Trump presidency November 6, 2024 The FTSE 100 pared its gains and sterling tumbled on Wednesday as traders digested how Donald Trump's presidency will impact the global economy and the UK.
Wetherspoons boss Tim Martin fires fresh price rise warning following Budget November 6, 2024 The pub giant reported record sales in the most recent quarterm even as cost inflation and tax hikes continue to bite British boozers.