Business - Page 4

London (Parliament News) – A leading think tank warns of looming tax increases in the UK, projecting an average burden of £800 per household annually by 2028-29, irrespective of the election outcome. Both major parties remain silent on reversing these measures. What

London (Parliament News) – UK retailers, led by Bira, file £1bn claim against Amazon, accusing it of using vendor data to launch rival products and manipulating access to the “buy box,” harming independent sellers. Amazon denies allegations. Independent UK retailers have undertaken

London (Parliament News) – Investors in Boohoo are seeking over £100m in damages after revelations of labour abuses in 2020 led to a share price plummet. Boohoo contests the allegations, sparking a landmark legal battle. A group of investors in Boohoo are

London (Parliament News) – Whistleblowers allege Standard Chartered processed billions in illegal transactions for Iran-linked entities and terrorist groups. They claim forensic data analysis uncovered hidden transactions, prompting a motion to revive their case in court. Whistleblowers have asserted Standard Chartered allegedly

The proposed VAT hike has sparked widespread concern among parents and educators alike. Critics argue that the increase in fees could lead to a decline in the number of students attending private schools, as more families may be priced out of the

Recent court documents in the U.S. have brought serious allegations against Standard Chartered, one of the largest banks in the UK. The bank is accused of facilitating billions of dollars in transactions that allegedly funded terrorist organizations, raising significant concerns about compliance

London (Parliament News) – DS Smith’s CEO urges UK election winner to enforce stricter plastic packaging rules and promote green consumption. The company has already replaced over 1 billion plastic pieces ahead of schedule. Whoever succeeds in the UK general election must

In recent months, UK mortgage holders have faced significant financial pressures as rising costs continue to impact household budgets. The Office for National Statistics (ONS) reported an increase in household expenses, shedding light on the particular struggles experienced by those with home

London (Parliament News) – Shareholders of Royal Mail and Anglo-American face takeover deadlines, potentially leading to foreign ownership. Czech billionaire Křetínský targets Royal Mail, while Australia’s BHP pursues Anglo-American. Shareholders in Royal Mail’s proprietor and the mining group Anglo American are awaiting

London (Parliament News) – Research reveals that Britain’s brick imports are surging, with each brick’s carbon footprint growing. The UK leads in imports, raising concerns over emissions and sustainability. Britain is importing more of its bricks than ever and the carbon expense

London (Parliament News) – Britain’s interest rates may drop this summer, as the Bank of England considers a decrease due to decreased inflation. Analysts debate whether inflation will rebound, with some foreseeing a rate cut as early as June. Britain’s interest rates

London (Parliament News) – Marks & Spencer is expected to announce a 35% rise in annual profits, reaching £653 million, driven by strong sales in food, clothing, and home sectors. The retailer’s turnaround includes cost-cutting, store closures, and resumed dividends. High street

London (Parliament News) – UK engineering firm Arup lost HK$200m (£20m) to criminals via deepfake video call. The employee was deceived into transferring funds. Arup confirmed financial stability remains intact. Hong Kong police investigation ongoing. The UK engineering company Arup has affirmed

London (Parliament News) – The New Křetínský bid initiates a headache for the UK government amid increasing scrutiny on foreign appropriations of critical infrastructure. The owner of Royal Mail has taken a £3.5bn bid for the postal company from a Czech billionaire

London (Parliament News) – Britain emerges from recession as economy grows by 0.6% in Q1, marking a return to transition. Stronger growth than expected was driven by the services sector, but challenges remain amid predictions of slow recovery. Britain is officially out

London (Parliament News) – The Bank of England holds rates at 5.25%, hints at potential cuts in June due to positive inflation trends and economic outlook. Members divided, two voting for an immediate cut. Governor suggests June cut possible. The Bank of

As the next government prepares to take the reins of the United Kingdom, the National Institute for Economic and Social Research (NIESR) has issued a significant call to action. Highlighting the need for substantial changes in fiscal policy, NIESR has argued that

London (Parliament News) – Alstom plans to raise €1bn to reduce debt, addressing struggles amid delayed orders and concerns about its Derby factory’s future. The move includes a €750m bond issue as part of a €2bn finance plan. How Does Alstom Plan

London (Parliament News) – Car manufacturers call for urgent action to boost electric vehicle sales, as private consumer demand declines despite fleet sales growth. Suggestions include tax cuts, incentives, and expanding charging infrastructure. Car manufacturers have urged for pressing action to reignite

London (Parliament News) – Heineken plans to invest £39m in reopening and renovating nearly 60 UK pubs, targeting suburban locations to attract remote workers and capitalize on changing consumer habits post-Covid. Heineken is to expend £39m on reopening nearly 60 UK pubs

London (Parliament News) – OECD predicts the UK to be G7’s weakest performer in 2025 due to inflationary pressures and skilled labour shortages. The global economic outlook remains modest but improving, with varied growth rates across major economies. Britain will be the

The UK government is under increasing scrutiny as its failure to reform the business rates system has sparked widespread criticism, particularly from sectors like hospitality and retail. The absence of reform has led to significant financial strain on businesses, with the additional

London (Parliament News) – HSBC CEO Noel Quinn resigns after an ‘intense’ five-year term, overseeing better-than-expected profits. A successor hunt begins as the bank looks to sustain growth. Quinn reflects on his tenure and plans. The chief executive of HSBC, Noel Quinn,

London (Parliament News) – Chuka Umunna, a former shadow business secretary and current JP Morgan banker, lobbies Labour on behalf of Czech billionaire Daniel Kretinsky for the acquisition of Royal Mail, sparking controversy and union backlash. Who is Behind the Push for

London (Parliament News) – MPs Question Government Transparency on EU Plant and Food Border Checks Lawmakers express concerns over Brexit border control delays, demanding clarity from the UK government on the phased implementation of checks. MPs have raised concerns over the UK

London (Parliament News) – Bank of England cautious on interest rate cuts as UK PMI strengthens, signaling economic recovery amid inflation concerns. The possibility of a summer cut in UK interest rates was reduced on Tuesday after the Bank of England’s chief

The UK’s job market is showing signs of slowing down, with unemployment rising to 4.2% between December and February, its highest in six months. During the same period, the employment rate dipped, and economic inactivity—people not working or seeking employment—slightly increased. Economists

A potential TikTok ban in the US could have a “potentially devastating” effect on some UK businesses, online traders are cautioning. President Biden has signed a bill mandating TikTok’s Chinese owner, ByteDance, to sell its stake in the app within nine months

London (Parliament News) – Brexit import checks delay causes business chaos. Businesses face uncertainty over implementation as the government postpones checks on EU imports. Businesses have conveyed Britain’s Brexit border designs as being in “complete disarray” after it emerged the intro of

London (Parliament News) – UK faces a second year of stagnant living standards, IMF forecasts. Despite expected growth, inflation and economic challenges persist into 2024. UK’s households will bear a second year without any progress in their living standards in 2024 as

London (Parliament News) – The Sun faces a £66m loss, with declining online readership and ongoing phone-hacking litigation costs. Despite challenges, Times Media reports profit growth. The Sun failed £66m last year and its online viewership declined by 4 million readers as

London (Parliament News) – Ted Baker is closing 15 UK stores, resulting in 245 job losses, as it faces administration challenges and seeks new operating partners. The high street fashion brand Ted Baker is to shut 15 stores across the UK with

British businesses saw their fastest activity growth in nearly a year this month, according to preliminary purchasing managers’ data. The figures suggest a stronger rebound from last year’s mild recession than economists had anticipated. However, rising business costs, driven by increasing wages

London (Parliament News) – The parent company of Thames Water defaults on debt, prompting concerns of restructuring or collapse. Shareholders declined £500m to stabilize finances. The parent company of disturbed Thames Water has revealed to its creditors it has defaulted on its

Starting Monday, UK cars exported to Canada will be subject to a 6% tariff due to the expiration of a post-Brexit agreement that maintained EU trading terms. This change affects UK products that use EU parts and materials, meaning they no longer

Britain’s economy is projected to grow by 0.8% this year after entering a recession in the latter half of 2023, Finance Minister Jeremy Hunt announced on Wednesday, citing the latest forecasts from the Office for Budget Responsibility (OBR). This new growth figure

Britain’s economy has maintained its momentum in early 2024, with strong growth reported among service firms and business optimism reaching a two-year high, according to a recent survey. However, persistent inflation pressures are likely to keep the Bank of England cautious about

The United Kingdom has announced plans to invest over £100 million ($125 million) in artificial intelligence (AI) research and training, aiming to position the country as a global leader in the field. Unveiled on Tuesday, the government’s initiative includes the creation of

With interest rates holding steady at 5.25% since August, it may take some time before they begin to decrease. This poses challenges for the 1.6 million UK homeowners whose low fixed-rate deals are set to expire by the end of December 2024.

London (Parliament Politics Magazine) – The United Kingdom slipped into a technical recession in the second half of last year after recording two consecutive quarters of negative economic growth, according to official figures. The Office for National Statistics (ONS) reported on Thursday

London (Parliament Politics Magazine) – The Bank of England (BoE) has fined The Hong Kong and Shanghai Banking Corporation Limited (HSBC) £ 57.4 million for failing to save billions of deposits for hundreds of clients in a “serious” obedience breach that endured for

Retail sales volumes in the UK plummeted by 3.2% in December, marking the steepest decline since the country was in a Covid lockdown. Official figures from the Office for National Statistics (ONS) revealed a significant drop in demand for goods, including a

The International Monetary Fund (IMF) has advised the UK against further tax cuts as it released its latest assessment of the global economy. The IMF warned that maintaining public services and investment would require higher spending than currently planned by the UK

Shop prices in the UK rose at their slowest rate in more than 18 months in January, according to the latest report from the British Retail Consortium (BRC). Inflation, the rate at which prices increase, has reached near-record highs recently, contributing to

London (Parliament Politics Magazine) – The party wants to fund nurseries at the nation’s elementary schools. However, it’s unclear how the plan which calls for additional staff will be funded. Labour came under fire yesterday for proposing plans to provide thousands of childcare

London (Parliament Politics Magazine) – “I believe that, like many businesses throughout the UK, businesses in the South West had a difficult year.”In an interview, Amanda Dorel, regional director for the South West at Lloyds Bank Commercial Banking, discussed how businesses and their

London (Parliament Politics Magazine) – Rituals, a beauty and wellness brand, “marks an exciting time for the brand in growing its retail presence across the United Kingdom and Ireland” with the launch of its new premium shop in Belfast. Customers can discover