Scotland’s last remaining oil refinery at Grangemouth will close between April and June next year, resulting in the loss of 400 jobs and leaving the UK with only a handful of refineries. The closure, announced by Petroineos—a joint venture between Sir Jim Ratcliffe’s Ineos and PetroChina—comes as domestic demand for motor fuels declines, exacerbated by…
The skills gap in the UK continues to widen, with 72% of companies reporting shortages in critical areas such as AI, data analytics, and cybersecurity—up from 69% in 2023, according to DocuSign’s Digital Maturity Report 2024. As a result, businesses are increasingly turning to ‘quiet hiring,’ upskilling their current employees, and deploying AI tools like…
Chancellor Rachel Reeves has faced criticism after justifying her decision to claim £4,400 in taxpayer-funded expenses for heating her second home, a day after MPs voted to scrap winter fuel payments of up to £300 for millions of pensioners. The decision comes as the government moves to cut benefits for pensioners while maintaining expense claims…
AWS, Amazon’s cloud computing arm, plans to invest £8 billion over the next five years in building, operating, and maintaining data centres across the UK. This substantial commitment is aimed at bolstering the UK’s digital infrastructure, supporting over 14,000 full-time equivalent jobs each year within the AWS data centre supply chain, which includes roles in…
Rachel Reeves is being urged by the Resolution Foundation to implement a £9bn tax on pension contributions in the upcoming Budget to address rising government spending. The left-leaning think tank recommends that companies should be required to pay National Insurance on contributions made to staff pension schemes, arguing that the current tax relief is “unnecessary”…
Over a million low-paid workers in the UK are set to receive a wage increase of about 6% next year, as the government pledges to raise the national living wage to £12.10 an hour. The Low Pay Commission, following Labour’s directive to ensure a “genuine living wage,” has outlined plans for the increase and may…
The Body Shop has been saved from administration in a rescue deal led by cosmetics tycoon Mike Jatania, securing 113 stores and safeguarding more than 1,000 jobs. The former Molton Brown chief, Charles Denton, will take the helm as chief executive under the new ownership. The deal, facilitated by administrators at FRP, involves the sale…
Richard Caring is on the verge of selling The Ivy in a deal worth around £1 billion, marking the first change of ownership for the iconic London establishment in nearly two decades. The billionaire entrepreneur, known as “the King of Mayfair”, is reportedly ready to divest almost all his holdings in The Ivy Collection, which…
Cyclists should consider taking out insurance to safeguard themselves and pedestrians, according to John Neal, the chief executive of Lloyd’s of London, the world’s largest insurance market. Neal’s comments come in response to a series of serious accidents involving cyclists, sparking renewed debate about the need for mandatory insurance. Describing the idea of insurance for…
Labour’s plan to mandate that developers build affordable housing on at least 50% of “grey belt” land could render 80% of small development sites unviable, according to research by tech firm Viability. The study suggests that reducing the requirement to 35% would significantly improve feasibility, making 30% of sites viable for small developers. Viability analysed…
Labour’s plan to overhaul the non-dom tax regime could cost the UK government up to £1 billion as wealthy individuals flee the country, a report by Oxford Economics has warned. The proposed reforms, which will take effect from April 2025, aim to replace the current system allowing non-doms to avoid tax on overseas income for…
Perception is a powerful force that influences how we view the world and, in turn, how the world views us. Today’s environment is saturated with social media and influencers covering all areas of the market, leading to perception becoming even more critical for a brands success. How you see the world around you is your…
Flight Centre Travel Group has reported a 10% year-over-year increase in total transaction value for its global corporate business in the 2024 fiscal year, ending June 30, driven significantly by wins among SMEs. The company’s corporate business, which includes SME-focused Corporate Traveler and large-market-focused FCM, reported a total transaction value of approximately $8.2 billion, marking…
The UK Government has launched nine new artificial intelligence (AI) training courses for Civil Servants, aimed at enhancing digital skills and improving efficiency across the public sector. Led by the Cabinet Office and Government Skills, the courses are designed to prepare civil servants for the growing impact of AI in government operations. The training covers…
The much-anticipated Oasis reunion tour is set to deliver more than just nostalgic hits; it’s expected to inject a significant boost into the UK economy, a move that could prove beneficial for the Labour party. According to Paul Haywood-Schiefer, Senior Manager at audit and advisory firm Blick Rothenberg, the fervour surrounding the reunion gigs will…
