Business

Young people who refuse to work to lose benefits, says minister

[ad_1] 'Youth guarantee' to focus on 'earning or learning'Young people who refuse to work will face having their benefits cut, the work and pensions secretary has said.Liz Kendall told the BBC the government will offer young people the opportunity to "earn or learn" under new proposals to be unveiled on Tuesday."In return for those new opportunities young people will have a responsibility to take them up," she said.Official figures published
Business

Jaguar asks people to “trust and reserve judgement” on rebrand

[ad_1] JaguarA still from Jaguar’s new advert which was shared on social media.Jaguar has urged people to "trust and reserve judgement" over the rebrand of the carmaker.The company, embarking on the biggest change in its 102-year old history, released a new logo and a so-called "social media tease" this week, ahead of its relaunch as an electric-only brand in early December.The teaser video has faced backlash, with many critics pointing
Business

Spain fines budget airlines including Ryanair and EasyJet €179m

[ad_1] Spain has fined five budget airlines a total of €179m (£149m) for "abusive practices" including charging for hand luggage.Ryanair has been given the largest fine of €108m (£90m), followed by EasyJet's penalty of €29m (£24m).Vueling, Norwegian and Volotea were issued with sanctions by Spain's Consumer Rights Ministry on Friday. The ministry said it plans to ban practices such as charging extra for carry-on hand luggage and reserving seats for
Business

Retail sales fell as Budget worries hit spending

[ad_1] Retail sales fell last month as shoppers held back on spending ahead of the Budget, according to official figures.Sales volumes fell by 0.7% in October, the Office for National Statistics (ONS) said, with clothing stores having a "notably poor" month.Speculation over which taxes might be increased ahead of last month's Budget has been blamed by many as a reason why households and businesses were more reluctant to make spending
Business

Typical bill to rise by £21 a year in January

[ad_1] Energy bills for a typical household will rise by £21 a year in January, the energy watchdog has announced.It means someone paying by direct debit and using a typical amount of gas and electricity will pay £1,738 a year, which remains high compared with pre-Covid norms.Prices rose in October and with a similar level now confirmed for the rest of the winter, charities are warning many will struggle to
Business

Gary Gensler to leave role as SEC chairman

[ad_1] The head of the US financial regulator, Gary Gensler, will resign from his role on the day of President-elect Donald Trump’s inauguration.Mr Gensler confirmed the news on social media platform X after the Securities and Exchange Commission (SEC) said its 33rd chairman would step down on 20 January next year.“I thank President Biden for entrusting me with this incredible responsibility. The SEC has met our mission and enforced the
Business

London Liverpool Street remains busiest railway station in UK

[ad_1] London Liverpool Street has retained its title of Britain's busiest railway station as passenger numbers soared over the past year, new figures show.The estimated number of people entering and exiting the station from March 2023/24 was 94.5 million, said the Office of Rail and Road.This is 17.5% higher than the figure last year of 80.4 million. The jump in passengers is due to increased use of the Elizabeth line.
Business

Government borrowing higher than expected in October

[ad_1] Government borrowing was much higher than expected in October, official figures show.Borrowing - the difference between spending and tax take - was £17.4bn last month, the second highest October figure since monthly records began in 1993.The borrowing figures are the first to be released since Chancellor Rachel Reeves' first Budget last month.The Budget is set to increase government spending by almost £70bn a year over the next five years,
Business

How family firms could be affected by Budget tax rises

[ad_1] David HoThistle Seafoods has been a family-owned business for generationsFarmers have dominated the debate over the recent Budget's change to inheritance tax – but the issue is much wider than that. Family businesses are affected in the same ways, and there are many more of them.As the implications dawn on many such families, there are warnings of lower investment, lower employment, lower growth and the potential takeover of a