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…
Deloitte cuts 250 underperforming staff in UK Big Four firm Deloitte has cut 250 members of staff in the UK, as the firm embarks on yet another round of redundancies as profit stalls. According to the Financial Times, around 250 employees in the UK who were deemed to be underperforming have been axed from the firm. Those affected were staff across its advisory divisions. However, the FT reported that the firm did not disclose this…
Major change planned for tallest skyscraper outside London A proposed 76-storey tower planned for Manchester city centre, which would be the tallest skyscraper in the UK outside London, is in line for a major change. Developer Salboy, which was co-founded by Fred Done who set up Betfred with his brother Peter, is on the verge of resubmitting its plans for Viadux 2 to incorporate a high-end hotel. The updated proposals would seek consent for a…
Gold glitters as investors seek safe haven amid geopolitical tensions Gold prices surged to an all-time high of $2,730 (£2,093) this morning as investors sought safe-haven assets amid rising geopolitical tensions. This means that the price of the yellow metal has surged 38 per cent this year. The rally has come as conflict intensified between Lebanon and Israel, with fears growing over a broader regional escalation. The uncertainty of the US election outcome, with particular concerns over…
Rachel Reeves could borrow £80bn over next five years, lenders say Rachel Reeves could borrow an extra £80bn to fund government spending on infrastructure and green energy, according to lenders. The Chancellor is trying to convince investors in UK government bonds, also known as gilts, that they can support tens of billions of pounds in additional borrowing without triggering a Liz Truss-style market panic. An assessment by Lloyds Banking Group has now found they would be willing to lend…
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