Employers are still struggling with labour shortages and would need the entire population of Birmingham twice over to fill every vacancy, according to the latest snapshot of Britain’s labour market. Employers ran active job advertisements for 2.25 million jobs in the week to July 9 — 53 per cent more than in the equivalent period…
Business confidence in the HMRC’s competence has fallen markedly as accountants raise “significant concerns” about the accuracy of the information it provides. Official annual surveys of SME-sized businesses released by HMRC has revealed that those with fewer than 20 staff are least confident, with confidence levels down from 63 per cent in 2021 to 54…
Over 50s who are out of work should be given support to start their own businesses, MPs have said. A report by the Work and Pensions Select Committee has suggested a self-employment support programme could help reduce the level of economic inactivity in people over 50, as well as disabled people. The scheme, if implemented,…
Cheaper mortgages could be available within weeks on the back of better than expected inflation figures that suggest interest rates are close to peaking. In the first piece of good economic news for the government in months, the Office for National Statistics said that consumer price inflation had fallen from 8.7 per cent in May…
Hiring confidence amongst UK employers has risen to a two-year high as new research shows applications have surged and the time to hire decreased over the last quarter. The latest Totaljobs Hiring Trends Index, which surveyed 1,005 HR Decision Makers in the UK reveals an 8% increase in hiring confidence looking into Q3. With hiring…
Insolvencies increased again in June as businesses continued to continue to grapple soaring interest rates and stubborn inflation. Data from the Insolvency Service revealed that there were 2,163 insolvencies in June, which is a 27 per cent rise on the same period last year and above pre-pandemic levels. The majority of insolvencies listed were creditors’…
James Cleverly, the UK Foreign Secretary will today chair the first ever UN Security Council (UNSC) session on Artificial Intelligence (AI). Taking place in the Security Council Chamber in New York, the high-level briefing will discuss the potential implications of AI on international peace and security and how to promote its safe and responsible use….
Transport & Environment’s research results suggest that smaller cars could reduce the requirement for raw materials such as lithium, manganese, cobalt and nickel by almost a quarter. Smaller cars could ease the demand for battery materials such as cobalt, lithium, nickel and manganese by almost a quarter, according to the Transport & Environment think tank…
The National Audit Office (NAO) has launched an investigation of Financial Conduct Authority’s effectiveness and ability to manage a growing list of responsibilities, including the overseeing of online fraud, crypto and risks surrounding artificial intelligence. The review is understood to include examining the FCA’s governance, strategy, and culture and well as its approach to regulating…
The UK could unlock £57 billion for the economy by 2030 through a green industrial strategy, according to the Confederation of British Industry (CBI). The CBI has called for governments to be mandated to test policies against the UK’s climate commitments and forcing the Treasuring and Office for Budget Responsibility to provide an estimate from…
Dame Jayne-Anne Gadhia, one of Britain’s most prominent businesswomen, is in advanced talks to sell her money-saving app to Vanquis Banking Group, the consumer lender. It is understood that Dame Jayne-Anne is nearing a deal with Vanquis – formerly known as Provident Financial – with an announcement possible in the coming weeks. The former Virgin…
Almost 1,000 workers at Gatwick Airport, including baggage handlers and check-in staff, will stage eight days of strikes from later this month. Staff will strike in a dispute over pay, the union Unite announced, at the start of the school summer holidays. Significant disruption, delays and cancellations are “inevitable”, the union said. The workers will…
Millions of public sector workers will be given a pay rise of at least 6%, but government departments have been told to fund the rise from within existing budgets. Police officers, junior doctors and teachers in England are among those who would benefit after Rishi Sunak accepted all the recommendations of the independent pay review…
More than a quarter of UK adults have used generative artificial intelligence such as chatbots, according to survey showing that 4 million people have also used it for work. Generative AI, which refers to AI tools that produce convincing text or images in response to human prompts, has gripped the public imagination since the launch…
The head of the Financial Conduct Authority has said that artificial intelligence could disrupt the financial services sector in “ways and at a scale not seen before”, warning that the regulator would be forced to take action against AI-based fraud. Nikhil Rathi, the chief executive of the Financial Conduct Authority (FCA), said that there are risks of “cyber fraud,…
