Founders warn of hiring freeze ahead of national insurance hike November 14, 2024 A majority of founders are warning they will have to implement a hiring freeze ahead of the employers’ National Insurance Contributions (NICs) increase set to come into effect this spring. The warning signs follow Rachel Reeves’ announcement in the Budget last month of a 1.2 per cent increase to employers’ NICs, taking the total to [...]
Exclusive: Reeves to reveal new mutual council with Nationwide and Co-op November 14, 2024 Chancellor Rachel Reeves will set out plans for a new mutual council today made up of some of Britain’s biggest customer and member-owned firms, including Nationwide, Royal London and the Co-op Group, City AM understands. In her maiden Mansion House speech, Reeves is expected to set out a growth plan for mutually owned business as [...]
UK airport operator bought by Canadian pension fund for £1.5bn November 13, 2024 An operator of UK airports has been bought by Canadian pension fund PSP, with the firm set to take over Glasgow, Aberdeen and Southampton airports in the £1.5bn deal. AviAlliance, a private airport operator which is wholly owned by the Public Sector Pension Investment Board (PSP Investments), announced the takeover of AGS Airports today. The [...]
Elon Musk and Fox News host chosen for Trump cabinet and advisory roles November 13, 2024 Tech billionaire Elon Musk and Fox News host Pete Hegseth have been asked to serve as advisors and in Donald Trump’s cabinet. Musk is set to lead a new US Department of Government Efficiency (DOGE) which will advise the President on how to reform and make savings in the government, after he previously claimed he [...]
FCA to reshape ‘name and shame’ policy following City backlash November 13, 2024 The Financial Conduct Authority will “fundamentally reshape” its controversial 'name and shame' policy following backlash from the City.
Homebase sold in rescue deal to CDS but 2,000 jobs still at risk November 13, 2024 Homebase has been sold in a rescue deal to retailer CDS in a move securing up to 1,600 jobs and 70 stores, administrator Teneo has said, but around 2,000 workers and 49 shops still remain at risk.
Retailers warn of ‘inevitable’ job losses and price rises after budget tax hikes November 13, 2024 Retail bosses warned that they will be forced to hike prices and cut jobs due to the government’s tax hikes, as the sector braces for a substantial increase in employment costs. In a draft letter to the Chancellor, coordinated by the British Retail Consortium (BRC), retail bosses warned that job losses were “inevitable” and higher [...]
UK banks could limit buybacks as car loan scandal grows November 13, 2024 Some UK banks could be forced to reduce upcoming investor payouts, analysts have warned, as the Financial Conduct Authority mulls whether to expand a probe into now-banned car loan deals.
US inflation picks up as Fed considers pace of interest rate cuts November 13, 2024 US inflation increased on the back of stubborn housing costs, new figures show, strengthening the case for a gradual approach to cutting interest rates. The consumer price index increased to 2.6 per cent in October, according to figures from the Bureau of Labour Statistics, up from 2.4 per cent the month before but in line [...]
Badenoch claims Reeves’s Budget was designed to ‘milk private sector’ November 13, 2024 The Labour government’s “ideological” Budget was “designed to milk the private sector”, Tory leader Kemi Badenoch has claimed. Quizzing Sir Keir Starmer during Prime Minister’s Questions (PMQs) today, the Conservative leader accused the Labour leader of “having nothing to offer but platitudes”. She said: “Their ideological Budget was designed to milk the private sector and [...]
