Shared prayers and tears: how Lammy wooed JD Vance and the White House
UK interest rate cut: what does it mean for mortgages and savings?
The Bank of England has cut interest rates from 4.25% to 4%. It is the fifth reduction in a year and takes rates back to where they were in March 2023.For the vast majority of borrowers the answer is no: more than 7.1m (85%) of Britain’s 8
WPP profits dive 71% as clients cut ad spending amid Trump’s tariffs rollout
Clients including carmakers and consumer goods companies are cutting their advertising spending amid Donald Trump’s tariffs rollout, WPP has said as it reported a 71% slump in profits and a strategic review.The advertising agency, formerly the largest in the world, cut its global workforce from 111,000 last year to 104,000 as of the end of June as it struggles with weak spending and the rise of artificial intelligence.WPP’s pre-tax profit dropped by 71% to £98m in the first half of its financial year. It has also halved its interim dividend to 7.5p a share before a strategic review that will be led by its incoming chief executive, Cindy Rose
Workplace gender segregation ‘a handbrake’ on Australia’s economy, major new pay gap report reveals
Major new research has found that men are paid more than women in 98% of occupations, with female workers in Australia typically paid 70 cents for every $1 earned by their male colleague after a decade in work.The 30% average pay gap across workplaces identified in Jobs and Skills Australia’s new report stretches to nearly 40% for First Nations women.Megan Lilly, a JSA deputy commissioner, said the fact that men were paid more than women on average in almost all of the 688 occupations analysed in the landmark report was even more remarkable when considering the substantial range of workplaces where women dominate.Experts blame the persistent gender pay gap in large part on the “motherhood penalty” – the phenomenon where Australian women’s earnings drop by 55% in the five years after having their first child.A higher likelihood of returning to part-time rather than full-time work, and missed opportunities for promotion during time away, mean that penalty is only slightly improved 10 years after giving birth
Toyota warns of £7.1bn hit from Trump tariffs as it cuts profit forecast
Toyota has warned it faces a 1.4tn yen (£7.1bn) hit from Donald Trump’s trade tariffs, as the Japanese company reported a drop in net profit and cut its guidance for next year.The biggest carmaker in the world said it expected to make an operating profit of 3.2tn yen in its financial year to March 2026, down 16% on previous guidance of 3
Bank of England poised to cut interest rates
The Bank of England is poised to cut interest rates on Thursday despite a growing divide between its policymakers over the dangers to the economy from high inflation and rising unemployment.In a development that will ease pressure on households and businesses, City forecasters expect the central bank to announce a quarter-point cut, its fifth rate reduction in a year.Financial markets predict an almost 100% chance of a quarter-point cut from 4.25%, the same as the last reduction in May.The chancellor, Rachel Reeves, will welcome the cut as Labour comes under pressure over its economic management and growing questions about potential tax rises at her autumn budget
United Airlines says issue that forced grounding of hundreds of US flights resolved
United Airlines has said a technology issue that led to the grounding of flights for a few hours and major delays across its network in the US has been resolved.“While we expect residual delays, our team is working to restore our normal operations,” the airline said in a statement late on Wednesday.The issue prompted ground stops at several major United hub airports including Newark, Denver, Houston and Chicago, according to the US Federal Aviation Administration’s (FAA) website.United said the problem related to its Unimatic system that housed information about each flight that was then fed to other systems, including those that calculated weight and balance and tracked flight times.The US transportation secretary, Sean Duffy, said on X that the issue was specific to United’s operations and was unrelated to the broader air traffic control system
Shared prayers and tears: how Lammy wooed JD Vance and the White House
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