Sterling came under further pressure at the end of a torrid week for the British currency, falling to a new 14-month low against the dollar. Sterling lost almost a cent, to just above $1.22 at one point, on higher support for the greenback after US jobs data -United States turned out to be much stronger … Read more
Big business bosses are set to lead a new campaign to cut crime and give ex-offenders access to stable jobs. It is part of a government initiative creating 11 new regional employment councils across England and Wales. Leaders from companies including Co-Op, Iceland, Greggs and Oliver Bonas will take on voluntary advisory roles working with … Read more
The company that owns Britain’s Vauxhall car plants fulfilled the UK government’s electric vehicle (EV) sales mandate last year, despite public criticism of the target and an announcement that its Luton factory would close. Stellantis, which also owns the Peugeot, Citroën and Fiat brands, as well as several others, was the UK’s best-selling electric van … Read more
Mick Lynch, one of the UK’s most influential union leaders in recent history, has announced his retirement. Mr Lynch is stepping down as head of the RMT (Rail Maritime and Transport Workers) union at the age of 63. He has been its general secretary since 2021. Money blog: Major mobile phone company increases bills next … Read more
How concerned should Rachel Reeves be that interest rates on government bonds have reached their highest levels in more than a quarter of a century? More to the point, how worried should we be about this? After all, the interest rate on 30-year government bonds (“Gilts,” as they are called) reached 5.37% today – the … Read more
Bim Afolami, the former city minister, will return to HSBC – the bank he worked for before embarking on a political career – in a board role. Sky News has learned that Mr Afolami, who lost his Hitchin seat in last year’s general election, is to become a non-executive director of the UK entity of … Read more
Britain’s electricity grid manager has appealed to electricity suppliers to increase production this evening to avoid the risk of power outages. The National Energy System Manager (NESO) issued an alert “to encourage market actions aimed at increasing system margins”. It is the first precautionary measure of its kind for winter to date and has been … Read more
Representing one of the world’s largest fast fashion retailers, Shein was unable to answer MPs’ questions about where its cotton comes from. Yinan Zhu, Shein’s general counsel for Europe, Middle East and Africa (EMEA), was asked if the company sells products containing cotton from China, mainly from the Xinjiang region , where China has been … Read more
Efforts by two private equity firms to extract profits from hospitals located in underserved communities are putting patients at risk, according to a new report released Tuesday by a powerful Senate committee. 162-page Senate Budget Committee report comes as Americans continue to express outrage at the role of corporations in the American health care system, … Read more
The first sign of Mark Zuckerberg’s capitulation to the MAGA movement came when he visited Donald Trump’s Mar-a-Lago resort for Thanksgiving in December. After which Metaworth $1.5 trillion, made a decidedly modest $1 million contribution to President-elect Trump’s inaugural fund. But it seems geeks bringing gifts wouldn’t be enough to appease a president-elect who once … Read more