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National insurance hike compensation uncertainty for public bodies in Wales
Public bodies in Wales may not receive full compensation from the UK Government for the cost of employer national insurance increases, unlike in England, a committee heard. Finance Secretary Mark Drakeford told the Senedd’s finance committee the cost of workers within the Office for National Statistics definition of a public-sector employee will be covered by …
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Business Live
Subsea firms call on Government to build confidence through industrial strategy
North East-based suppliers of subsea engineering and equipment are among UK counterparts to report good market prospects but lack of confidence in project delivery. Research from industry body the Global Underwater Hub – which has a base on Tyneside – points to positivity among firms about market opportunities, particularly in offshore energy, but lower sentiment …
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Business Live
Somerset gigafactory will be ‘catalyst’ for attracting major overseas firms to Britain
A multi-billion-pound Somerset gigafactory could be a “catalyst” for attracting major international companies to Britain, according to the boss of the smart campus where it’s being built. Agratas, part of Indian conglomerate Tata, is currently building its £4bn electric vehicle battery plant near Bridgwater and has said around 4,000 jobs could be created in the …
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Sky News
NatWest to hike chief’s pay as bank returns to full private ownership
NatWest Group is to hand its chief executive a potential multimillion pound pay boost as it returns to full private ownership after nearly 17 years in state hands.Sky News has learnt that the chair of the bank’s remuneration committee, Lena Wilson, is consulting leading institutional shareholders about an overhaul of its boardroom pay policy. The …
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Sky News
IT refurbisher Reconome lands £3m funding from Daily-Dose backer
A certified B Corporation company which repurposes electronic equipment to benefit schools and charities has landed more than £3m in funding from a leading start-up investment group.Sky News understands that Reconome, which partners with major companies including Netflix and O2, has secured the new money from IW Capital, which has backed a string of prominent …
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Business Live
Steven Bartlett’s Diary of a CEO podcast faces questions over health claims
Dragons’ Den entrepreneur Steven Bartlett is currently under scrutiny regarding his popular ‘Diary of a CEO’ podcast after a BBC News investigation highlighted concerns about health claims made by some guests. The Manchester-based entrepreneur, who amassed his wealth after co-founding Social Chain and dropping out of university, has been criticised for potentially spreading harmful health …
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Sky News
Royal Mail fined £10.5m after missing delivery targets
Royal Mail has been fined £10.5m for missing postal delivery targets.Regulator Ofcom said 74.7% of first class mail and 92.7% of second class was delivered on time in 2023/24. The targets were 93% and 98.5%.It is the second time Ofcom has fined Royal Mail since the pandemic and it “needs to do much better”, the …
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Sky News
Economy in shock decline during October
The economy remained in reverse gear during October, according to official figures covering the month ahead of the government’s first budget.The Office for National Statistics (ONS) said output fell 0.1% following the 0.1% decline recorded for the previous month. It marked the first time since the COVID pandemic that the economy had shrunk for two …
Business
Sky News
Deeper story behind UK’s fragile food security can be traced to demise of farming’s golden age
It might be tempting, given how much coverage has focused on it recently, to assume the forthcoming changes to the inheritance tax regime are the single biggest issue facing farmers these days.But the reality is these tax changes come at a moment of extraordinary pressure, with farmers having to contend with a swathe of unsettling …
Business
Sky News
Major shake-up of UK energy system could ‘lower bills for good’, government says
Plans to “green” the UK’s power system will protect consumers from future energy crises and has the potential to “bring down bills for good”, the government has said.Achieving clean electricity by 2030 was a key election promise for the Labour party, and reiterated by Keir Starmer last week as he outlined government ‘milestones’. To reach …
Business
Business Live
Gloucester Quays signs 20 deals with retailers including Clarks and Le Creuset
Gloucester Quays shopping centre has agreed 20 leasing deals this year including with a number of major high street brands. The outlet’s operator, Peel Retail & Leisure, said some 44,000 sq ft of space had been secured by retailers over the last 12 months. Among the 11 brands to renew at Gloucester Quays are French-Belgian …
Business
Sky News
Mark Zuckerberg’s Meta donates $1m to Trump’s inauguration fund
Mark Zuckerberg’s firm Meta has donated $1m to Donald Trump’s inauguration fund as the Facebook founder tries to mend ties with the president-elect.In August, Mr Trump threatened to imprison the billionaire if he did “anything illegal” to influence the presidential election. But last month the pair dined together at Mr Trump’s Mar-a-Lago resort in Florida, …

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