Category : Search result: financial sector updates


Starmer: I wouldn't appoint Mandelson now

Prime Minister Keir Starmer expresses profound regret over appointing Peter Mandelson to his strategic council, citing a failure to fully grasp the extent of Mandelson's private sector interests at the time.

Trump Proposes Exempting Tips from Federal Income Tax

Ex-President Donald Trump proposes exempting tipped wages from federal income tax, a move that could put thousands of dollars back into the pockets of waiters and bartenders but faces significant legislative hurdles.

UK Economy Grows 0.4% in May, Exceeding All Forecasts

The UK economy grew by a stronger-than-expected 0.4% in May, according to the Office for National Statistics. Chancellor Rachel Reeves welcomes the data but warns of the 'challenge' inherited from the previous government.

UK Economy Stalls: 0.0% GDP Growth in April

New ONS data reveals the UK economy showed zero growth in April 2024, with a sharp slowdown from the 0.4% expansion in March. The services sector stalled while production fell, putting pressure on the next government.

FCA: UK Finance's Old Tech Poses 'Significant' Risk

The UK's Financial Conduct Authority has raised a major red flag, revealing that a large portion of the nation's finance sector is dangerously reliant on outdated technology, posing a severe threat to operational resilience and consumer protection.

Reeves Declares War on 'Antiquated' UK Planning System

New Chancellor Rachel Reeves unveils a radical overhaul of England's planning system, vowing to fast-track 1.5 million new homes and critical infrastructure to kickstart economic growth, despite warnings from retail leaders.

Teacher on 16-year sick leave with £48k salary

A secondary school teacher has remained on full sick pay for 16 years without returning to the classroom, costing taxpayers over £1 million and igniting a fierce debate on public sector sick leave reform.

MPs Poised for Inflation-Busting £7,000 Pay Rise

British MPs are in line for a significant £7,000 pay increase, lifting their salaries to over £91,000, as recommended by the independent watchdog IPSA. This inflation-linked rise comes amidst a backdrop of sluggish wage growth and widespread industrial di

Wes Streeting: NHS is 'broken', needs private sector help

New Health Secretary Wes Streeting delivers a bombshell diagnosis of the NHS as 'broken' and announces a controversial new strategy to use private sector capacity to tackle the elective care backlog, signalling a major shift in healthcare policy.

BlackRock's £2.1bn Aletto Power Acquisition Finalised

Investment titan BlackRock secures a landmark $2.6 billion deal to acquire Minnesota Power's parent company, Aletto. This strategic move signals a major shift in energy sector ownership and raises pivotal questions about renewable investment and market co

Unison Chief: UK Social Care System is 'Broken'

Christina McAnea, head of Britain's largest union, issues a stark warning on the UK's social care crisis, calling for immediate funding and a national strategy to fix the crumbling system.

ConocoPhillips Axes 25% of UK Oil Workforce

US oil giant ConocoPhillips has announced deep cuts to its British operations, slashing a quarter of its UK workforce. The move signals a major shift in the North Sea energy landscape and raises concerns about the future of the region's oil industry.

Wes Streeting: 'The NHS is broken' and needs major surgery

In a bombshell interview, Labour's Wes Streeting declares the NHS 'broken' and vows to confront tough truths, including the need for private sector help and a crackdown on 'sick note culture', to save the cherished institution.

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