The Business Times

United Kingdom

International

UK pay awards hold at lowest in nearly four years: IDR survey

The National Institute of Economic and Social Research said British finance minister Rachel Reeves should build £30 billion (S$52.3 billion) of margin for error against economic shocks, up from £10 billion at her last budget.
International

UK needs big tax rises to avoid second Liz Truss episode: think-tank

There were only 495 new Tesla UK registrations in October, down 51 per cent from the 1,013 registrations last year, the data showed.
Transport & Logistics

Tesla’s UK car sales halve in October, New Automotive data shows

Britain's budget watchdog is expected to downgrade its productivity forecasts for the economy, which in turn means finance minister Rachel Reeves will need to tax more or spend less to hit a goal of a balanced budget excluding investment spending by 2029/30.
International

UK finance minister says she will prioritise ‘fairness’ amid tax rise talk

In a letter to British Prime Minister Keir Starmer (left) late on Wednesday, Rachel Reeves (right) admitted she had failed to obtain the required “selective” rental licence for her south London home when she moved into her Downing Street residence after Labour won power in July 2024.
International

Starmer backs finance minister after housing rules breach

Unrecovered energy debt is spread across all consumer bills, adding £52, or around 3 per cent, to the current price cap of £1,755 a year for average use.
Energy & Commodities

UK energy watchdog plans to tackle £4.4 billion consumer debts

The expected award of 3 per cent is below the most recent reading of headline inflation which stood at 3.8 per cent in September.
International

Wary UK employers set to hold pay awards at 3%, Brightmine says

Investment in research and development fell to 6.2 per cent of turnover from 6.5 per cent, while spending on staff costs and training was becoming a greater priority.
Global Enterprise

UK manufacturers invest at slowest pace since 2017: report

The Competition Appeal Tribunal ruled that Apple had abused its dominant position from October 2015 until the end of 2020 by shutting out competition in the app distribution market and by “charging excessive and unfair prices” as commission to developers.
Telcos, Media & Tech

Apple loses landmark UK lawsuit over app store commissions

The plan, secured through OpenAI’s partnership with the Ministry of Justice (MoJ), will enhance privacy and security as well as reinforcing resilience to cyber threats, the British government said.
Telcos, Media & Tech

OpenAI to offer UK data residency driven by government partnership

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