Money Moves

Minouche Shafik, former deputy governor of the Bank of England, is anticipated to join Keir Starmer’s team as the chief economic adviser. This move comes as the prime minister’s office prepares for the upcoming autumn budget. Shafik has recently led a review of the government’s foreign aid spending at the Foreign Office after resigning as […]

Peter Hebblethwaite, the chief executive of P&O Ferries, has announced his departure from the company after facing significant backlash for laying off nearly 800 employees in 2022. The decision to terminate 786 staff members, which was followed by the hiring of lower-paid agency workers, prompted widespread criticism. At a parliamentary hearing, Hebblethwaite defended his actions

Shares of major UK banks, including NatWest, Lloyds, and Barclays, experienced significant declines in response to discussions surrounding a potential new tax on banking profits. The Institute for Public Policy Research (IPPR) has suggested that a windfall tax could generate approximately £8 billion annually for the government. This recommendation comes as a means to compensate

ANZ, one of Australia’s prominent banks, issued an apology to employees who learned of their termination via an automated email instructing them to return their laptops. The bank’s retail banking executive, Bruce Rush, stated that it was not the company’s intention to convey such sensitive information this way, particularly as it undertakes job cuts within

Peter Hebblethwaite, the chief executive of P&O Ferries, has resigned from his position following widespread criticism over the dismissal of 800 employees. This mass layoff occurred in March 2022 when the company replaced these workers with less expensive agency staff. P&O Ferries confirmed Hebblethwaite’s departure but did not provide details regarding the reasons for it.

Shares in UK banks are experiencing declines amid speculation that the upcoming autumn budget may include additional taxes targeting the banking sector. Leading this downturn are NatWest, down 3.7%, Lloyds Banking Group with a 2.8% drop, and Barclays, falling 2.3%. Concerns have been raised regarding Chancellor Rachel Reeves possibly implementing measures to bolster public finances,

UK businesses are expressing concerns over new tax regulations affecting low-value parcels sent to the US. Under the modified rules, parcels valued at under $800 will be subject to taxes beginning Friday. This change follows a decision by US President Donald Trump to eliminate the “de minimis” exemption, which previously allowed goods under this value

The United States has recently implemented an end to a longstanding global tariff exemption that impacted low-cost goods. As of Friday, imports valued at $800 or less will now be subject to duties and increased customs checks, potentially affecting millions of daily shipments. Last year, approximately 1.4 billion packages entered the U.S. without duties, utilizing

The government has instructed a contractor, Mitie, to remove job listings from a recruitment website for positions aimed at providing vocational training for detainees at an immigration removal centre near Heathrow Airport. The roles included a “hospitality and floristry tutor,” tasked with teaching skills such as cake decorating and ballooncraft, and a “gym manager,” with

Querétaro, a city in central Mexico, is recognized for its colonial architecture and notably for its extensive data centre operations, making it the country’s data centre capital. Major companies such as Microsoft, Amazon Web Services, and ODATA have established facilities in the region, with numerous data centres reportedly in operation and additional ones underway. Ascenty,