Author: WTX Business Team
Underground air to heat London’s iconic buildings Excess heat from London’s Underground will power iconic buildings in a new £1bn net zero scheme. This low-carbon network will soon channel excess heat from the Underground to power several sites in central London, namely Downing Street and the National Gallery. This comes following last week’s Budget, in which chancellor Rachel Reeves announced significant investments in green energy, including a £2bn pour into UK’s hydrogen schemes. The initiative was recently…
UK economy at risk of higher inflation and slower growth due to Trump tariffs Economists are concerned by the likely impact of Donald Trump’s economic policies on the UK following his historic election victory. During the campaign, Trump threatened to increase tariffs on foreign imports by between 10-20 per cent while also placing 60 per cent tariffs on Chinese goods. A tariff is a levy imposed on imports. By putting extra costs on businesses importing…
US Treasury yields jump and Bitcoin hits record as Trump wins election US Treasury yields jumped and Bitcoin surged to a new record as markets reacted to Donald Trump’s victory in the presidential election. Republicans have taken back control of the Senate, while Trump is due to return to the White House after winning the crucial battleground of Pennsylvania. Trump declared victory in a speech in Florida after having earlier won the key swing states…
CITY AM reports on James Dyson’s complaints about the ‘spiteful’ inheritance tax changes.
Boeing workers have ended their seven-week strike after voting to accept the company’s latest pay offer. The new contract will give the workers a 38% pay increase over four years, along with a $12,000 one-time bonus and updates to retirement plans.
Why uncertainty over the US election is a nightmare for investors Uncertainty over the US election has put portfolio risk front of mind, as investors seek to both protect themselves from volatility and ensure they are well places to take advantage of the successful candidate’s policies, says Colin Clunie This year’s US Presidential Election, set to take place on 5 November, is predicted to be one of the tightest in history, with the incredibly close…
Schuh has created over 1,000 jobs since lowest pandemic ebb Schuh has created almost 400 jobs in its latest financial year to push its headcount past where it was before the Covid-19 pandemic struck. The Scotland-headquartered footwear retailer employed 4,369 people at the end of its latest financial year, up from its total of 3,975 in the prior 12 months. Until the end of its year to 3 February, 2024, Schuh had not employed more…
Bank of England set to lower interest rates as Budget dampens bets for 2025 The Bank of England is expected to lower interest rates this week, while markets are betting on fewer cuts next year after forecasts suggested the new government’s first Budget will push up inflation. Analysts predict members of the Monetary Policy Committee (MPC) will vote to cut the central bank’s base rate by a quarter-point to 4.75 per cent at their next…
Boeing increases pay offer in attempt to bring an end to seven-week strike Boeing is attempting to resolve a seven-week strike by offering workers a 38% pay increase over four years. The proposal, endorsed by the International Association of Machinists and Aerospace Workers (IAM), will be put to a vote on Monday. The strike, involving over 30,000 workers, began on September 13 and has significantly impacted production, contributing to a financial crisis for Boeing. Previously,…
Football regulator boss should come from the Square Mile, says Crouch Former sports minister Tracey Crouch says the incoming football regulator should be run by someone with a background in the City. Crouch has done more than anyone to give rise to the regulator by making it a key recommendation in her fan-led review of football governance. A revised bill laying out the watchdog’s proposed powers was published last week and former Conservative MP Crouch…
Labour’s national insurance hike could cost workers hundreds Hiking employers’ national insurance will likely end up making employees worse off despite the government’s attempts to ensure new taxes do not fall on working people, new research suggests. Reports indicate that Rachel Reeves is planning to hike employer national insurance by one or two percentage points while also lowering the threshold at which businesses start paying the levy. HMRC’s projections suggest that a two percentage point…
HSBC shares pop as bank beats profit estimates and launches $3bn share buyback HSBC has unveiled its latest multibillion-pound share buyback after beating profit estimates in the third quarter as the Asia-focused bank gears up for a major restructuring. The announcement drove HSBC’s share price 4.7 per cent higher in London and up 3.7 per cent in Hong Kong during earlier trading – with both at their highest level in around six years. The London-based…
