Scotland (Parliament Politics Magazine) – Petrofac, the oilfield services group, faces imminent insolvency, with administrators from Teneo ready to intervene as soon as Monday, threatening over 2,000 jobs in Scotland. The company’s board, chaired by Rene Medori, is in emergency talks as
UK (Parliament Politics Magazine) – UK inflation stayed at 3.8% in September, with slower food price rises balancing higher costs in transport and leisure activities. As reported by The Guardian, UK inflation held steady at 3.8% in September, surprising analysts and providing
UK (Parliament Politics Magazine) – UK borrowing reached £20.2bn in September, the highest in five years, driven by higher welfare spending and debt costs ahead of the autumn budget. As reported by The Guardian, rising debt interest and higher welfare payments pushed
UK (Parliament Politics Magazine) – UK economy grew 0.1% in August, boosted by manufacturing and health, as Chancellor Rachel Reeves prepares a budget to close a £20–30bn fiscal gap. As reported by The Guardian, official figures show Britain’s GDP rose 0.1% in
Washington (Parliament Politics Magazine) – The IMF reports that global government debt may reach 100% of GDP by 2029, with the UK, US, China, Japan, and France at risk. As reported by The Guardian, the IMF warned that by 2029, global debt
UK (Parliament Politics Magazine) – Chancellor Rachel Reeves hints at potential tax hikes and spending cuts in her budget to tackle a £30bn fiscal black hole and economic pressures. As reported by Sky News, Rachel Reeves is considering higher taxes and spending
UK (Parliament Politics Magazine) – Scotland’s Energy Secretary Gillian Martin warns NE risks “no just transition,” urging action to secure green jobs and avoid repeat of past industrial decline. As reported by The Independent, Gillian Martin warns North East could lose the
UK (Parliament Politics Magazine) – The Competition and Markets Authority approved five UK water firms to raise bills by £556m over five years, rejecting most of their £2.7bn request. As reported by The Guardian, millions of English households will face higher water
UK (Parliament Politics Magazine) – UK car dealer Vertu Motors warns JLR cyber attack could cut up to £5.5m from annual profits, hitting September sales and luxury car operations. As reported by The Standard, British car dealer group Vertu Motors warns it
UK (Parliament Politics Magazine) – Sir Jim Ratcliffe’s Ineos cuts 60 jobs at Hull plant, blaming net zero and cheap Chinese imports for unsustainable energy costs. As reported by The Telegraph, Ineos, led by Sir Jim Ratcliffe, has reduced the staff at
