Britain’s Labour Party was headed for a huge majority in Britain’s election on Thursday, an exit poll suggested, against a gloomy backdrop of economic malaise, mounting distrust in institutions and a fraying social fabric. The poll, released moments after voting closed in the parliamentary election, indicated that Labour Leader Keir Starmer will be the country’s...
Tag: business
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How a British tech champion almost fell into China’s grasp
‘James Bond fantasy’ The documents have emerged as part of an unfair dismissal case brought by Black, who claims he was sacked for blowing the whistle on China’s attempt to take over the company. In April 2020, Black explosively quit the company over the plan to add the four directors. It was after executives leaked...
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Old, rich and living on benefits: welcome to the state pension capital of Britain
Labour’s dilemma The worst is yet to come, but Britain’s state pension burden is already biting. The post-war baby boom was at the end of the 1950s and early 60s, which means this generation is hitting retirement now. Back in 2003-04, public spending on state pension, pension credit and winter fuel payments made up 4.2pc...
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Britain snubs GSK in favour of US pharma giant for RSV vaccine
The NHS has turned to US drugs giant Pfizer over its British rival GSK for vaccines against Respiratory Syncytial Virus (RSV), the winter infection known as the “silent killer” of the elderly. Officials have signed a two-year supply agreement with Pfizer for more than 3.5 million doses of its RSV vaccine for older people and...
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Britain’s biggest union demands a four-day week
One of Labour’s biggest backers has called on the next government to enshrine the right to a four-day work week “for all” after members backed the idea. Unison, which represents public service workers including NHS staff and police, said delegates voted through a motion to “demand the next government takes action to ensure more employers...
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‘Only one British applicant out of 200’: how the UK lost its work ethic
Battered by the financial crisis and pandemic, Britain has lost its culture of risk-taking. In the third of a special election series, The Telegraph examines how this has affected the economy and whether Labour can bring swashbuckling back to the City. When Stuart Forrester and his wife founded their business and marketing consultancy in 2006,...
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Campaigning begins ahead of historic union recognition vote by British Amazon workers – UPI.com
Officials of Britain’s third largest union arrived on-site at one of Amazon’s main fulfilment centers in Coventry on Wednesday ahead of a landmark ballot of 3,000 workers on whether they want a union to represent them collectively when it comes to bargaining over pay and conditions. Photo courtesy GMB union. Photo courtesy GMB union. June...
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Bank of England accused of ‘penalising the young’ by keeping mortgage rates high
The Bank of England is “penalising the young” by keeping rates on 95pc mortgages artificially high, the boss of one of Britain’s biggest housebuilders has warned. Rob Perrins, chief executive of Berkeley Group, said the Bank has “a moral duty” to cut rules that require lenders offering riskier mortgages to hold a certain amount of...
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Labour risks higher mortgage bills and worse unemployment, says HSBC
The Bank of England is currently laser-focused on whether inflation is proving particularly stubborn in the services sector. Its panel of rate-setters is reluctant to start reducing interest rates from a 16-year-high of 5.25pc until they feel confident that this type of inflation is fading. Markets are only fully pricing in one rate cut from...
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Aussie crane company’s international success story
Simon Marr was getting used to having doors shut in his face, so to speak. The boss of Aussie crane company, Marr Contracting, put it down to the way people do business in the UK. “You get people stuck in their ways, that’s how people are,” he said. Know the news with the 7NEWS app:...
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Why Britain’s biggest economic problem is proving near-impossible to fix
This is particularly worrying for economic growth. Almost all of the economy’s expansion has been driven by the rising number of people in work in recent years, according to Tony Wilson, director of the Institute for Employment Studies. “For the last 20 years or more, economic growth has been driven by employment growth rather than...
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Italian energy company targets Britain for fleet of 20 mini-nukes
An Italian energy start-up is pursuing plans to build 20 mini reactors across the UK, as it seeks to capitalise on the country’s nuclear power expansion. Newcleo is aiming to build a fleet of so-called mini-nukes on up to six sites in Britain, all of which will be situated near energy-intensive industries. Controversially, the reactors...