UK economy risks collapse without urgent investment in nature

<?xml encoding=”utf-8″ ??> The Green Finance Institute estimates that the UK is facing a finance gap of up to £97 billion to meet the UK’s nature-related targets by 2032. Without investment in climate mitigation, biodiversity restoration, flood prevention and other nature-related outcomes as outlined in public policy like the 25 Year Environment Plan, both our […]

Mismatches in jobs market ‘put pressure on inflation’

<?xml encoding=”utf-8″ ??> A mismatch in the number of workers available to take up jobs and vacancies that need filling may keep inflation higher for longer, economists have warned. Businesses are struggling to fill job openings because there are not enough workers in the right industries or locations or with the right skills, according to […]

Business lending to drop at fastest rate in decades as recession fears intensify

<?xml encoding=”utf-8″ ??> Bank to business lending is forecast to contract sharply in 2023 while mortgage lending will grow at its slowest pace since 2011 as fears of recession intensify, economists have predicted. According to the latest forecast from EY Item Club, an economic forecasting group, bank to business lending is expected to contract 3.8 […]

Elon Musk found not guilty of fraud over Tesla tweet

<?xml encoding=”utf-8″ ??> Tesla co-founder Elon Musk has been cleared of wrongdoing for a tweet in which he said he had “funding secured” to take the electric carmaker back into private ownership. Shareholders argued he misled them with his posts in August 2018, and they had lost billions of dollars because of them. The proposed […]

Australian startup Recharge wins bid for collapsed UK battery company Britishvolt

<?xml encoding=”utf-8″ ??> An emerging Australian company yet to construct a major project will be responsible for delivering on UK hopes to electrify its automotive industry after outbidding rivals to take over collapsed battery maker Britishvolt. In a whirlwind fortnight, Recharge Industries put together an aggressive package that also revives plans to build a £3.8bn […]

UK apprenticeship levy is a £3.5bn mistake, say business leaders

<?xml encoding=”utf-8″ ??> Retailers, hospitality businesses, the tech industry and recruiters have called for urgent reform of the apprenticeship levy, calling it a “£3.5bn mistake”. In a letter sent to ministers, the British Retail Consortium (BRC), UKHospitality, techUK, and the Recruitment & Employment Confederation (REC) said the government was “holding back investment” in critical training […]

Turnaround advisers say UK manufacturers and retailers need greatest support

<?xml encoding=”utf-8″ ??> Manufacturers and retailers are struggling most in the present economic climate and will be in greatest need of support in the year ahead, the Institute for Turnaround has warned. Andy Leeser, its chairman, said the manufacturing sector would require the most turnaround expertise. The automotive sector was a “case in point”, he […]

Return train tickets set to be scrapped in UK rail shake-up

<?xml encoding=”utf-8″ ??> Return tickets are set to be scrapped and new digital ticketing introduced under reforms of the British rail system to be announced this week. The two-way tickets, which offer a discounted rate, will be replaced by “single-leg pricing” which will mean that the price of two singles will be the same as […]

BMW in negotiations for £75M from government to retain electric Mini production in Oxford

<?xml encoding=”utf-8″ ??> The German automotive giant BMW is in talks with the government about a £75m funding package that would secure production of electric Minis at its Oxfordshire plant. Its is understood BMW is negotiating with officials at the Department for Business, Energy and Industrial Strategy (BEIS) over a grant from Whitehall’s Automotive Transformation […]

Ukraine’s corruption purge setting stage for private investment-driven recovery

<?xml encoding=”utf-8″ ??> The existential war with Russia approaches the one-year mark. The less visible “internal war for the future of Ukraine,” as MP Yaroslav Yurchyshyn has dubbed it, has recently been thrust into the spotlight. The Zelensky administration has initiated a sweeping corruption purge, with 15 senior government officials across ministries and law enforcement […]