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...
Tag: business
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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...
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British tech tycoon Mike Lynch cleared in $11bn US fraud trial
Autonomy, founded in Cambridge in 1996, was a member of the FTSE 100 and one of Britain’s most valuable software companies before its sale. Mr Lynch made £500m from the deal, using the funds to set up companies including the British cybersecurity company Darktrace. HP wrote down almost all of the deal’s value a year...
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US employment growth smashes predictions in blow to hopes of rate cuts – latest updates
Thanks for joining me. We begin with data showing house prices stalled between April and May. Average property values fell by 0.1pc over the month to £288,688, the Halifax house price index showed. 5 things to start your day 1) British tech tycoon Mike Lynch cleared in $11bn US fraud trial | A San Francisco...
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British tech magnate Mike Lynch acquitted of fraud charges in $11 billion deal with Hewlett Packard
SAN FRANCISCO — Mike Lynch, once hailed as Britain’s king of technology, has been cleared of charges alleging he orchestrated a fraud and conspiracy leading up to an $11 billion deal that turned into a costly albatross for Silicon Valley pioneer Hewlett Packard. The not-guilty verdicts reached Thursday by a federal court jury in San...
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British microchip plant faces closure after Apple pulls the plug
The Coherent facility in Newton Aycliffe was originally built by Fujitsu and described as the world’s most advanced microelectronics plant when it was opened by Queen Elizabeth in 1991. But the Japanese company announced plans to close the plant in 1998 amid an electronics industry slump. It has since cycled through a succession of owners...