Collaborators
Cuts, tax rises and doing nothing: Rachel Reeves’ options to tackle economic woe
Labour’s fiscal rules may limit the chancellor’s ability to act, but waiting it out may be the best option The UK government has come under pressure from a bond market sell-off and the tumbling pound, heaping pressure on the chancellor, Rachel Reeves, to reassure investors about Britain’s economic and financial position. After a challenging first…
Lloyds, Halifax and Bank of Scotland to share branches
Lloyds, Halifax, and Bank of Scotland customers will be able to use services in any branch of the three brands as part of the group’s latest network shake-up. Lloyds Banking Group, which owns all three banking brands and is the UK’s biggest moneylender, said the move would give customers more choice and flexibility. It has…
Reeves mulls deeper cuts to public services as borrowing costs soar
Chancellor could slash departmental spending in spring after ruling out tax increase, officials reveal Rachel Reeves is considering imposing steeper cuts to public services to repair the government’s finances after a bruising week in which investors drove up the cost of UK borrowing and pushed the pound to a 14-month low. Government officials have told…
Man told he can’t recover £598m of Bitcoin from tip
A judge has thrown out a man’s attempt to sue a council to recover from a rubbish tip a Bitcoin hard drive that is now worth about £598m. James Howells had argued that his former partner had mistakenly dumped the hard drive containing a Bitcoin wallet in 2013, and he wanted to access the site…
Peter Dutton’s pledge to exclude CFMEU from Queensland road projects could be illegal, experts say
Law professor says prohibiting companies from tendering because of union relationships would be ‘tantamount to a secondary boycott’ A pledge to “exclude” the Construction, Forestry and Maritime Employees Union from Queensland road projects by state and federal LNP leaders has been criticised as illegal by industrial relations experts. On Thursday, the opposition leader, Peter Dutton,…
Lloyds to let customers use Halifax and BoS branches, raising job cut fears
Account holders at the group’s three brands will be able to use any of their locations, but unions fear site closures Lloyds Banking Group will allow customers to use any of its Halifax, Bank of Scotland and Lloyds branches as part of a shake-up that has sparked fears of job cuts and site closures, weeks…
Greggs sales growth slows amid ‘lower consumer confidence’
Bakery chain says fewer shoppers on high streets over Christmas also to blame in ‘more challenging market’ Greggs, the UK’s biggest bakery chain, has reported slowing sales growth over the festive period, blaming weakening consumer confidence and fewer shoppers on high streets. The company said its total sales rose by 11.3% to just over £2bn…
M&S reports strong festive sales but says UK firms will take hit from tax rises
Sales at food halls rise 8.9% over Christmas, with 23 December its biggest ever day of food trading Marks & Spencer has hailed a “good Christmas” with strong sales of food but warned that British businesses face higher costs from the government’s tax increases. The UK retailer said sales at established food halls rose 8.9%,…
Retailers warn of higher prices in 2025 and urge ministers to ease tax burden
Companies grappling with higher employment costs say price of food may rise by 4.2% in latter half of year UK retailers have urged ministers to ease their tax burden as they said that the cost of food and other items will rise sharply throughout the year as companies grapple with higher employment costs. Food prices…