Author: WTX Business Team

Employer national insurance raid could lead to 130,000 jobs being slashed The government’s hike to employers’ national insurance could cost as many as 130,000 jobs, according to new research. Analysis from Bloomberg Economics suggests that up to 130,000 jobs could be lost if firms responded to the tax hike primarily by cutting employment. This would amount to a 0.4 percentage point increase in unemployment, and would likely encourage the Bank of England to cut interest rates faster than markets…

London maintains tech capital crown but New York threatens London has kept its title as the tech capital of the world in a closely-watched league table, while New York edged closer to reclaiming the crown. The Z/Yen Smart Centres Index – which ranks 77 global commercial hubs on their ability to create, develop and deploy tech – showed London remained in first place, a title it has held in the biannual ranking since overtaking New York last…

Jobs market gets Christmas boost from seasonal hiring The jobs market is benefiting from a pre-Christmas boost, according to new research from Adzuna. In October, there were 0.64 per cent more vacancies than there were six months ago, the first time the six-monthly reading has been positive in 2024. The reading suggests that the jobs market has stabilised compared to the first half of the year, which saw sharp falls in the number of new…

Barclays fined over ‘reckless’ failure to disclose Qatar links The Financial Conduct Authority (FCA) has hit Barclays with a £40m fine today for failing to disclose ties with certain Qatari investors as it scrambled to avert a government bailout during the financial crisis. In a statement today, the City watchdog said the FTSE 100 lender’s conduct through during a capital raise in 2008 was “reckless and lacked integrity” and it welcomed a move by the bank to withdraw from…

Stocks making the biggest moves today Stocks making the biggest moves premarket: Alibaba, Applied Materials, Ulta Beauty and more Check out the companies making headlines before the bell: Applied Materials — Shares tumbled more than 8% after the semiconductor equipment manufacturer offered weak revenue guidance for the current quarter. Applied Materials said it forecasts $7.15 billion in the first fiscal quarter, under the estimate of $7.224 billion from analysts polled by LSEG. The company also…

Asia-Pacific markets Live Updates shows the Asian markets mostly rose Friday on morning, tracking a rally on Wall Street that saw the S&P log gains for a fourth straight day. Asia-Pacific markets Live Updates Investors in Asia assessed Japan’s October consumer price index data. The core inflation, excluding volatile fresh food prices, rose 2.3% from a year ago, slightly above the estimated 2.2%, according to analysts polled by Reuters. That’s cooler than 2.4% in the…

Stocks making the biggest moves midday: Nvidia, Palantir, Moderna, Ulta Beauty, Alibaba and more Market Insider Check out the companies making headlines in midday trading: Global pharma stocks — Shares of several vaccine makers declined after President-elect Donald Trump selected prominent vaccine skeptic Robert F. Kennedy Jr. as health secretary on Thursday. Shares of Moderna and Pfizer slipped 7.3% and 4.7%, respectively. BioNTech , which helped develop a Covid vaccine with Pfizer, shed 3.7%, while GSK…

The DOJ has proposed breaking up Google to curb the tech giants’ dominance in online search. In a court filing on Wednesday, the DOJ suggested that Google should be required to sell its Chrome web browser and end contracts that make its search engine the default choice on devices from companies like Apple and Samsung.

GKN Aerospace owner Melrose holds outlook despite supply chain challenges Melrose Industries said it is on track to hit looming profit targets despite the industry-wide supply chain challenges plaguing the aerospace sector. The Birmingham-based manufacturer said this morning it expects adjusted operating profit of between £550m and £570m this year and £700m in 2025. In an update to markets, Melrose flagged a seven per cent year-on-year rise in revenue, driven by a 17 per cent…

UK inflation set to jump above target in headache for Rachel Reeves UK inflation is expected to have jumped above the Bank of England’s two per cent target in October, bolstering a cautious approach to cutting interest rates in the months ahead. A more gradual easing of monetary policy would be a headache for the new government, which has tried to reassure markets that last month’s big-spend Budget will boost economic growth without leading to…