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UK labour market shows signs of stabilising after job losses
Britain’s employment market has shown signs of stabilising after a sharp rise in job losses earlier this year blamed on tax rises introduced by Rachel Reeves.As the chancellor prepares for her 26 November budget, figures from the Office for National Statistics showed the unemployment rate rose to 4.8% in the three months to August, up from 4.7% in July. City economists had forecast the rate to remain unchanged
UK retail sales growth cools amid fears over budget tax rises
UK retail sales growth cooled last month as concerns over inflation and looming tax increases in Rachel Reeves’s autumn budget weighed on British consumers.In a snapshot before the chancellor’s tax and spending event next month, the British Retail Consortium (BRC) said total sales rose more slowly in September than in recent months.Separate figures from Barclays showed card spending fell 0.7% year-on-year in September. The bank said almost half of consumers in a survey of 2,000 individuals were making changes to their personal finances in anticipation of Reeves’s 26 November budget, with one in three building a savings buffer
Blair’s former policy chief Matthew Taylor to lead Fair Work Agency
Labour has appointed Tony Blair’s former policy chief to lead Britain’s new jobs market watchdog being created by the government to enforce its strengthening of workers’ rights.Matthew Taylor, who led the influential Taylor report on the gig economy and modern working practices for Theresa May’s government, will become the chair of the Fair Work Agency when the body launches next April.The new watchdog will form a key plank of Labour’s proposals to drastically strengthen workers’ rights by drawing together Britain’s existing labour enforcement agencies into a single body.It will have powers to tackle employers flouting the law, including naming and shaming rogue businesses paying staff below the legal minimum wage, issuing fines and bringing legal cases on workers’ behalf.Taylor, who ran Blair’s No 10 policy unit in the 2000s, used his gig economy review for May’s government to call for a drastic overhaul of workplace rights
Carmakers chose to cheat to sell cars rather than comply with emissions law, ‘dieselgate’ trial told
Car manufacturers decided they would rather cheat to prioritise “customer convenience” and sell cars than comply with the law on deadly pollutants, the first day of the largest group action trial in English legal history has been told.More than a decade after the original “dieselgate” scandal broke, lawyers representing 1.6 million diesel car owners in the UK argue that manufacturers deliberately installed software to rig emissions tests.They allege the “prohibited defeat devices” could detect when the cars were under test conditions and ensure that harmful NOx emissions were kept within legal limits, duping regulators and drivers.Should the claim be upheld, estimated damages could exceed £6bn
Vodafone outage: thousands of broadband and mobile users report problems
Tens of thousands of Vodafone customers in the UK have reported they could not access services including the internet and making mobile phone calls.Consumers started reporting problems on the website of the outage monitor Downdetector from about 3pm on Monday.By 3.20pm the number of reports of service disruption had risen to more than 135,000. According to a breakdown of the reported incidents, more than two-thirds related to customers who have Vodafone’s internet broadband services to their homes
China’s Temu more than doubles EU profits to nearly $120m despite having only eight staff
The Chinese online marketplace Temu’s EU operations more than doubled pre-tax profits last year to just below $120m (£90m) despite employing just eight people, accounts show.They rose 171% in the 12 months to December 2024 compared with the $44.1m the year before, as shoppers snapped up its low-cost goods, which are widely promoted on social media.However, the company paid just $18m in corporation tax, almost $3m of which was a mandatory top-up tax brought in at the end of 2023 after the EU signed up to a global minimum tax rate for large companies.The accounts filed for the group’s Ireland-based EU parent group, Whaleco Technology, also show revenues rose to $1
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