Huawei: Chinese firm reduced to a shadow of former size as UK restrictions bite September 25, 2024 Turnover at the UK arm of Chinese telecommunications giant Huawei has been slashed by more than £1bn since 2019 as the impact of UK and US restrictions bite. The London-headquartered business has reported a turnover of £229.56m for 2023, down from the £359m it posted in 2022. The latest figure comes after Huawei’s turnover totalled [...]
Regulation in the UK a ‘web of complexity’ and harming innovation says think tank September 25, 2024 A leading think tank has called for the government to create a ‘call-in’ power to overrule regulators’ decisions, warning that Britain’s approach to tech regulation is harming innovation and investment in the sector. In a new report, right-leaning think tank Onward described the UK’s patchwork of “under-resourced” and “overstretched” regulators as spinning a “web of [...]
Nobody turns up to a Starmer speech expecting to have their ribs tickled September 24, 2024 Was Keir Starmer once beaten up by an actor? Was he bullied by a clown? Something must have happened in his past to explain his visceral aversion to performers and showmen. He rarely makes a speech these days without attacking those who take to a stage with a spring in their step and a quip [...]
‘Pension death tax’ on the cards as Reeves looks to raise cash September 24, 2024 Tom Selby, director of public policy at AJ Bell, said many of the possible reforms come with "significant practical and political challenges".
Recruiter SThree holds guidance despite ‘challenging’ market conditions September 24, 2024 SThree, the recruiter specialising in STEM fields, reported a six per cent contraction in its quarterly order book, which sits at £167m.
Wealth creators are right to be nervous September 24, 2024 The Chancellor insisted yesterday that the proceeds of economic growth must be “felt by the many,” in a line that echoed the commitment made by David Cameron 15 years ago to “share the proceeds of growth.” Rachel Reeves would not be comfortable with such a comparison, and as if to make that very point she [...]
UK industrial strategy not just ‘smoking chimney stacks’, trade expert says September 23, 2024 The UK’s industrial strategy is not just “smoking chimney stacks”, trade expert Marco Forgione has said.
City analysts ask Rachel Reeves ‘where will the tax axe fall?’ September 23, 2024 City analysts have called on Rachel Reeves to clarify where the “axe will fall” ahead of a Budget widely expected to see taxes hiked. The Chancellor delivered her keynote speech at the Labour Party conference in Liverpool on Monday where she struck a more optimistic economic tone, promising that October 30 would see a “Budget [...]
Labour conference: Reeves and Reynolds to unveil industrial strategy following ‘Budget for investment’ September 23, 2024 Rachel Reeves has announced the government will unveil its long-promised industrial strategy next month, as she vowed to deliver a “Budget for investment”. The Chancellor took an upbeat tone as she stressed that her “optimism for Britain burns brighter than ever”. Ahead of the October 30 Budget, she argued: “Growth is the challenge, and investment [...]
Labour conference: Reeves challenged over consumer ‘fear and foreboding’ September 23, 2024 Rachel Reeves has been challenged over claims the government has “generated a fear and foreboding” among consumers – but insisted she was “optimistic” about the economy. Ahead of her keynote speech to the Labour Party conference in Liverpool today, the Chancellor was challenged on Sky News over last week’s fall in consumer confidence to the [...]