Economists on the Bank of England's Monetary Policy Committee (MPC) have once again voted to hold interest rates at 5.25% when they met yesterday (2nd November). The MPC voted 6-3 in favour of the hold, with those opposing calling for 0.25 percentage point rise in the bank's base rate, although … [Read more...]
News for: General Business News
New AI Safety Institute launched in global first
Prime Minister, Rishi Sunak, has launched a new AI Safety Institute, the first such organisation in the world, that will address harmful capabilities of this emerging technology. The organisation is the evolution of the government's Frontier AI Taskforce and will be advised by industry … [Read more...]
New laws boost ease and access of electric vehicle charging
MPs have approved new laws that aim to better regulate electric vehicle charging infrastructure to make it easier and more accessible for drivers. Regulations will ensure prices across chargepoints are transparent, and that new public chargers have contactless payment options. Providers will also … [Read more...]
£200 million investment announced to get more zero emission trucks on the road
The UK Government has announced a £200 million investment to decarbonise freight vehicles and roll out more zero emission trucks on UK roads. Funds will go towards four innovative green projects to roll out up to 370 zero emission HGVs and help set road freight on the path towards net zero, … [Read more...]
Inflation remained at 6.7% in September
September Consumer Price Index (CPI) figures from the Office of National Statistics (ONS) have showed the rate of inflation remained unchanged on the previous month, with prices on average 6.7% higher than in September 2022. Inflation remaining unchanged on the previous month ends three … [Read more...]
HMRC warns Self Assessment taxpayers to be wary of scams
HMRC is urging Self Assessment taxpayers to look out for scams taking the form of texts, emails and phone calls from fraudsters impersonating the UK tax authority. In the 12 months to 2023, HMRC received over 130,000 reports about tax scams, including 58,000 claiming to offer tax rebates. … [Read more...]
Key construction sectors poised for recovery, finds industry monitor
Planning activity in the key sectors is showing signs of an upturn in the economy according to construction industry monitor, Glenigan. Analysis by Glenigan has found that there is a significant volume of schemes in the UK expected to start in the next 12 months in the key sectors of … [Read more...]
HMRC and Home Office joint webinars explains employers’ responsibilities
Joint webinars are being held by HMRC and the Home Office to ensure employers understand their responsibilities around illegal working and the minimum wage. The webinars are being run by the Home Office Immigration Enforcement department, and HMRC's National Minimum Wage (NMW) team to ensure … [Read more...]
Tougher measures announced to tackle late payments to small businesses
The government has announced it will introduce tougher measures to address late payments to small businesses ahead the publication of the Prompt Payment & Cash Flow Review. Small businesses are particularly affected by late payment of invoices and long payment terms imposed by larger … [Read more...]
Chancellor commits to increase National Living Wage to two-thirds of median earnings
Chancellor Jeremy Hunt has confirmed he intends to honour the Low Pay Commission's upcoming recommendations which are expected to call for the National Living Wage to be increased to two-thirds of median earnings in the UK. The Low Pay Commission has advised the government on recommended levels … [Read more...]
UK SMEs cyber threat concerns on the rise, finds Sharp research
Concerns about cyber threats amongst UK small and medium sized businesses (SMEs) have risen significantly in the last year, according to new research commissioned by workplace technology specialist Sharp Europe. Nearly four in ten SMEs (38%) reported being more worried about cyber security … [Read more...]
One in five SME owners planning to sell by 2025, finds Handelsbanken study
A study conducted for Handelsbanken Wealth & Asset Management has found that one in five SME business owners plan to sell all or part of their business within the next two years. The survey also found a further 11% will seek to downsize during the same period. Of those considering sale or … [Read more...]
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