Millions of commuters in London have been hit by a Tube strike called by the two big trade unions, ASLEF and the Rail, Maritime and Transport union (RMT). The strike coincided with industrial action by up to 500,000 junior doctors, teachers, civil servants, lecturers, BBC journalists, and Amazon workers. ASLEF and the RMT are in dispute…
London Commuters Hit by Tube Strike as Unions Target Budget Day for Action
Household Energy Bill Cap Extended for Further 3 Months, UK Government Says
The UK government will extend the cap on household energy bills for three more months, the chancellor has announced ahead of the Spring Budget. To protect British households against high energy prices exacerbated by the Russian invasion of Ukraine, the government launched the Energy Price Guarantee last year, which has capped annual energy costs to…
UK Job Vacancies Drop for 8th Month in a Row as Firms Hold Back on Hiring
Job vacancies across Britain have fallen for the eighth month in a row, as businesses hold back on recruitment amid economic pressures, new data show. According to the latest figures from the Office for National Statistics (ONS), Britain’s unemployment rate remained unchanged at 3.7 percent in the three months to January. But the number of…
UK Tech Firms Face ‘Serious Risk’ From Silicon Valley Bank Collapse, Chancellor Warns
There is a “serious risk” to the UK’s technology and life sciences sectors from the collapse of the UK branch of the California-based Silicon Valley Bank, Chancellor Jeremy Hunt has warned. U.S. federal banking regulators on March 10 assumed control of Silicon Valley Bank (SVB), a top lender for American tech and life sciences firms…
UK Households Buying Less Food as Grocery Inflation Continues to Soar
Half of the UK population has reported buying less food when shopping in recent weeks, as food price inflation puts increasing pressure on British households. According to survey results from the Office for National Statistics (ONS), the rising cost of living has caused Britons to cut back on their spending on food. The ONS survey,…
British Gas Owner Centrica Sees Profits Triple in 2022 Amid Soaring Energy Prices
February 16, 2023
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British GasBusiness & MarketsCentricaenergyenergy pricesJeremy HuntRishi SunakRussian Invasion of UkraineUKwindfall taxWorld
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Energy firm Centrica, which owns British Gas, has seen its profits more than treble in 2022 amid soaring energy prices following the Russian invasion of Ukraine. The energy giant reported underlying operating profits of £3.3 billion ($4 billion), more than triple its £948 million profits for 2021. Stripping out its Spirit Energy businesses that were…
Inflation Eases to 10.1 Percent but Fight ‘Far From Over’: Chancellor
The UK’s inflation rate has eased back for the third straight month to 10.1 percent in January, but the government warned that the fight against inflation is “far from over.” According to the Office for National Statistics (ONS), the Consumer Prices Index (CPI) rose by 10.1 percent in the 12 months to January 2023, down…
Record Number of Britons Seeking Jobs as ‘Economic Inactivity’ Drops Amid Rising Cost of Living
A record number of people are entering or returning to the UK job market as the cost of living continues to rise, the latest official data shows. Britain’s economically inactive population increased during the COVID-19 pandemic as many older workers chose to retire early. But over recent months, there has been a wave of people…
UK Economy ‘Not out of the Woods’ Despite Avoiding Recession: Chancellor
The UK is “not out of the woods” despite avoiding a recession by a tiny margin last year, Chancellor of the Exchequer Jeremy Hunt has warned. The country’s GDP was flat in the last three months of 2022, according to new data released by the Office for National Statistics (ONS) on Feb. 10. The ONS…
Tough Tax Led to Britain Losing £320 million Vaccine Factory: Pharma Chief
February 10, 2023
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AstraSenecaBritainBusiness & MarketsCCP VirusCompaniesCOVID-19economic policieseconomyEuropeInvestmentIrelandJeremy HuntMarketstax ratesUKVaccines & SafetyVaxzevriaWorld
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Britain’s tough tax rates led to it losing out on a £320 million new COVID-19 vaccine facility, AstraZeneca’s chief has said. Pascal Soriot said his drugs group chose Ireland as the base for its new state-of-the-art factory owing to the Republic’s low tax laws and commitment to green energy. Addressing the pharmaceutical chief’s comments on…
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