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Tag: business
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House purchases delayed by ‘global payments issue’
House purchases have been delayed by a glitch with a global payment system that left banks unable to transfer large sums of money. The Bank of England said on Thursday it had suffered a temporary outage to its CHAPS interbank payment system, which handles more than £360bn on an average day. The Clearing House Automated...
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European leaders discuss migration and Ukraine at a UK summit as concern grows about direction of US
WOODSTOCK, England (AP) — Leaders from across Europe expressed support for Ukraine and concern about the direction of the United States on Thursday at a security-focused summit clouded by worries about whether the U.S. will remain a reliable ally if Donald Trump wins a second presidency. Newly elected U.K. Prime Minister Keir Starmer welcomed around...
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Labour to launch state-owned Great British Energy in £8.3bn market intervention
Labour is pushing ahead with plans to launch a state-owned energy company backed up with £8.3bn of taxpayer funds, in one of the biggest market interventions for decades. In the King’s Speech, Sir Keir Starmer’s new Government confirmed that Great British Energy will develop, own and operate energy projects such as wind farms, using public...
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UK’s new government announces legislation for ‘national renewal’ as Parliament opens with royal pomp
LONDON – Britain’s new Labour Party government promised to calm the country’s febrile politics and ease its cost-of-living crisis as it set out its plans for “national renewal” at the grand State Opening of Parliament on Wednesday. Stabilizing the U.K.’s public finances and spurring economic growth were at the center of Prime Minister Keir Starmer...
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Britain to be fastest growing major European economy, IMF predicts
Britain to be fastest growing major European economy, IMF predicts Jump to content
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Labour is about to crush what’s left of Britain’s economy
Likewise, Amazon has made next day delivery of just about anything you can think of completely standard, creating vast wealth in the process. It might be worth pausing to consider what the entrepreneurs behind those successes had got right, but instead Labour’s allies just want to destroy them. Finally, while we may not always commercialise...
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How Dyson’s ambition to become a British tech giant hit trouble
On the face of it, Dyson’s business is in rude health. Sales hit a record £7.1bn last year, while earnings before interest, tax, depreciation and amortisation, a measure of profit, was close to an all-time high at £1.4bn. However, growth has slowed in recent years. Between 2015 and 2019, revenues trebled, climbing from £1.7bn to...
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Vacuum cleaner manufacturer Dyson to cut around 1,000 jobs in the UK
A selection of vacuum cleaners sit in the reception area at the Dyson Group campus in Malmesbury, U.K., on Wednesday, Sept. 26, 2018. Bloomberg | Bloomberg | Getty Images Vacuum cleaner manufacturer Dyson is set to cut around 1,000 jobs in the U.K., where it currently employs 3,500 people. The company, known for its innovative...
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Buyout barons plot their escape from Britain amid fear of tax crackdown
Jason Clatworthy, a tax partner at Alvarez & Marsal, said more private equity managers had been making enquiries about whether Labour could backdate some of the proposed tax changes. PE managers setting up new funds were thinking twice about basing themselves in London he said, and many executives had stepped up plans to buy property...
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ANALYSIS | Britain veers left, but Labour’s honeymoon may be short-lived | CBC News
The Labour Party has stormed back into power in the United Kingdom after 14 years in opposition, promising to replace the “chaos of the Conservatives” with a bland, utilitarian agenda to fix the things in the country that are broken. “The change begins right here,” said Leader Keir Starmer after leading his party to a resounding 412...
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Reeves vows to ‘work hand-in-glove’ with business as British stocks surge
Reeves vows to ‘work hand-in-glove’ with business as British stocks surge Jump to content