Category Archives: Business

Real value of UK pay continues to slide as inflation bites

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Wage increases in February outstripped by rises in cost of living, as unemployment rate rises

The real value of UK workers’ pay has continued to fall at the fastest rate for more than a decade, as wage increases in February were outstripped by high inflation.

The Office for National Statistics said annual growth in average pay, excluding bonuses, held steady at 6.6% in the three months to February despite a small rise in unemployment and decline in the number of job vacancies.

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EasyJet expects bigger profits as summer bookings soar

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Budget airline has ramped up capacity and expects to be back to about pre-Covid levels

EasyJet has lifted its profit outlook for this year after summer bookings surged and passenger numbers over Easter returned to pre-pandemic levels.

The budget airline has increased capacity, by 40% from January to March, and expects to be back to about pre-pandemic levels in the summer.

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New prepayment meter rules must be properly enforced, says Grant Shapps

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Suppliers in Great Britain have agreed code banning them from installations in homes of over-85s

The energy secretary, Grant Shapps, has urged Ofgem to turn words “into action” to ensure new industry rules designed to protect vulnerable people from being forced on to prepayment meters are properly enforced.

The Guardian revealed on Monday that all energy suppliers in Great Britain had signed up to a code of conduct banning them from putting the meters in the homes of people aged 85 and over as well as those with severe health conditions.

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Brexit backer Jim Ratcliffe’s Ineos to build electric Grenadier in Austria

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Britain misses out on building second Ineos vehicle, after company chose France for original model

Ineos, the company founded and run by the British billionaire Sir Jim Ratcliffe, will build an electric version of its new Grenadier off-road vehicle in Austria.

The electric version of the 4x4 will be developed with the Canadian car parts manufacturer Magna and production is scheduled to start in 2026.

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Air France and Airbus cleared of involuntary manslaughter over 2009 crash

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Paris court clears aviation giants over disaster that killed 228 people flying from Rio de Janeiro to Paris

A Paris court has cleared Air France and Airbus of involuntary manslaughter over the crash of flight 447 in 2009 that killed 228 people.

Giving its verdict on Monday, the court said if there had been faults committed, “no certain causal link” with the accident could be shown.

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James Cleverly in Japan for G7 as UK tilts towards Pacific post-Brexit

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Foreign secretary says ‘free and open Indo-Pacific’ is ‘critical to UK’ and releases manga-style cartoons to mark his visit

James Cleverly has arrived in Japan for a G7 foreign ministers’ summit to promote a “free and open” Indo-Pacific, as the UK government steps up its focus on the region after Brexit.

The foreign secretary and his counterparts from countries including the US and France will hold high-level talks on closer security and defence ties in the face of China’s growing assertiveness in the Pacific.

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Amazon workers in Coventry begin first of two three-day strikes

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Workers gather at picket line on Sunday in ongoing demand for pay increase from £11 to £15 an hour

Workers at Amazon’s Coventry warehouse have begun a fresh round of strike action in a dispute about pay during the cost of living crisis.

GMB union members are planning three days of strikes at the huge Coventry centre, known as BHX4, from Sunday 16 to Tuesday 18 April, to be followed by three further days, from 21 to 23 April.

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Orient Express to axe UK section after 41 years due to Brexit

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Luxury train operator cuts service ahead of biometric passport checks so passengers will have to join train in Paris

When the Orient Express began operating in the 19th century, passports were optional – the only paperwork required by British travellers was a copy of the Thomas Cook Continental Timetable.

But Brexit and 21st-century biometric checks are killing off the romance of crossing borders for modern passengers looking for the nostalgia of the luxury train journey that inspired Agatha Christie and Hollywood.

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CBI president apologises over sexual misconduct allegations

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Brian McBride says business lobby group was on firm ground in sacking director general Tony Danker

The president of Britain’s most influential business lobby organisation has apologised for a spate of sexual misconduct allegations and “toxic culture” that has left the Confederation of British Industry fighting for its future.

Speaking publicly for the first time, Brian McBride apologised to those alleging various forms of sexual misconduct, which span several years, by senior figures at the organisation, including an allegation of rape, first reported in a Guardian investigation last month.

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Coles confirms its customers impacted by Latitude Financial data breach

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Supermarket giant says it is disappointed after being informed that historical customer credit card details have been stolen by hackers

Coles Financial Services has expressed its disappointment after being alerted that historical customer credit card details were stolen in the Latitude data breach.

Coles credit card holders’ personal details are the latest to be identified in around 14 million customer records compromised in the hack.

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Germany’s last three nuclear power stations to shut this weekend

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Closures, delayed after Russia reduced Europe’s gas supplies, leave conundrum for energy policymakers

Germany’s three remaining nuclear power stations will shut down on Saturday, 12 years after the Fukushima disaster in Japan accelerated the country’s exit from atomic energy.

The closures mark the conclusion of a stop-start approach to atomic energy and a victory for the country’s vociferous anti-nuclear movement.

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IMF calls for ‘another Gleneagles moment’ on debt relief and aid

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Package similar to 2005 deal needed as struggling African countries suffer severe funding squeeze, says official

Western countries need to put together a debt relief and aid package to match that of the landmark Gleneagles summit deal in 2005 in order to counter a severe funding squeeze affecting struggling African countries, the International Monetary Fund has said.

Abebe Selassie, the director of the IMF’s African department, said without a scaling up of financial support some of the world’s poorest countries would have no chance of meeting the 2030 UN goals for poverty reduction.

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NSW minister calls frontline workers ‘heroes’ after paramedic killing – as it happened

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Kerrynne Liddle says ‘prove it’s not happening’ on child sexual abuse in Alice

Liberal senator Kerrynne Liddle, the first Indigenous senator from South Australia, and a name being touted as a contender for shadow minister for Indigenous Australians after Julian Leeser’s resignation.

I think we have to be really careful about politicising this issue, because matters related to any form of assault are sensitive, but important to understand and respond to.

… I think what’s really important though, is it can’t ignore the issue of sexual abuse, but you must also tackle those issues, alongside other issues which include [service] delivery and decision dysfunction.

Do you encourage your leader to temper his language given we haven’t yet seen evidence to say that there is a widespread phenomenon of this?

I say prove it’s not happening. And then we can have a conversation about the kind of language that we can actually use for this.

… You’ve got you’ve got the statistics, which everyone accepts are underreported and underrepresented. You’ve got to have relationships with communities to enable people to start talking about these safe spaces for young people to raise this issue of need to support people to have housing so that young people and older people are not at risk of this.

It’s possible to be optimistic about Australia’s economic future, and to be realistic about a global slowdown.

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Shoppers in Great Britain switch to frozen food amid cost of living crisis

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Such products doing ‘notably better’ than fresh items, data from Kantar reported by BBC shows

British shoppers are switching from fresh to frozen food as they try to keep down spending amid the cost of living crisis, retail data suggests.

The soaring cost of the weekly shop has been a significant factor in the squeeze on UK households, with food price inflation running at 18.2% amid high energy prices and shortages of salad vegetable because of bad weather in Europe.

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EU motorist fined almost £11,000 after falling foul of London Ulez rule

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French hire car met emissions standard but had not been registered with TfL, resulting in penalty notices

A motorist was fined nearly £11,000 for driving his French rental car in London’s ultra-low emission zone on a three-day trip to the UK, despite the fact the vehicle met the environmental standards to enter the Ulez for nothing.

Christian Ducarre received four penalty charge notices (PCNs) after falling foul of a little-known requirement under which foreign vehicles must be registered with Transport for London (TfL) or else be deemed non-compliant by default.

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Australia’s trade minister hopeful China bans will end but warns against putting ‘all our eggs in one basket’

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Don Farrell has dismissed talk of any Australian policy shift after breakthrough reached on barley exports

The Australian trade minister says he wants a quick return to normal trade with China but has warned exporters not to put “all of our eggs in one basket”.

In an interview with Guardian Australia, Don Farrell was bullish about the prospect of Australia succeeding in its international challenge against Beijing’s tariffs on Australian barley, saying he thought “we would ultimately win that”.

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Australia news live: Dutton says PM should ‘make sure’ federal police are sent to to Alice Springs; recount ordered for Sydney seat

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Opposition leader says locals are leaving town and tourism numbers are down due to lack of safety. Follow all the day’s news

If the NDIS is improved for people, it will be better for budget, Shorten says

Shorten is being asked about his other portfolio, minister for NDIS. The Grattan Institute yesterday made several recommendations to help rein in the budget, saying the government need to take a hard look at the NDIS.

If we run the scheme better for the person, the participant, the person with severe and profound disabilities. I also think that some of the other anxieties which are about money being wasted, will be dealt with.

We’ve been reforming individual features of the scheme already like getting people who are medically discharged from hospital on the NDIS, not languishing in hospital for months and months. We’ve been reducing some of the legacy cases.

So the budget will no doubt have measures which will be about improving the NDIS for participants but the budget isn’t an end in itself. So we’re doing work right now. There’ll be more work being done, and there’ll be work also finally announced when the review happens.

The bigger piece first of all, is that when the government thinks that someone owes a debt to the government, we’ve got to have a much more methodical transparent process to establish the accuracy of the debt.

The best thing you can do is not make a mistake to begin with – and I mean the government not make a mistake.

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Unemployment rate holds steady as Australian employers add 72,000 full-time jobs

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At 3.5% the unemployment rate remains near its lowest since the mid-1970s

Australia’s jobless rate held steady last month, with employers adding more than 72,000 full-time positions in the latest sign of resilience in the Australian economy.

The country’s unemployment rate for March was 3.5%, seasonally adjusted, the Australian Bureau of Statistics said on Thursday. Taking into account the drop of part-time roles of just over 19,200, the net jobs gain last month was 53,000.

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More house price drops expected despite signs of market stabilising

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Rics monthly poll shows new buyer inquiries in UK are flat as volume of agreed sales falls further

UK house prices are expected to continue to fall despite surveyors’ expectations that the housing market will stabilise over the next 12 months, a study has shown.

The Royal Institution of Chartered Surveyors’ (Rics) monthly survey, which measures the proportion of surveyors reporting new buyer inquiries against those saying they fell, found the net balance was -29% in March, almost flat on the -30% recorded in February.

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UK imposes sanctions on ‘enablers’ accused of helping Russian oligarchs

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‘Financial fixers’ alleged to have helped Roman Abramovich and Alisher Usmanov to hide assets are among those targeted

The UK government has imposed sanctions on the “financial fixers” who have allegedly helped the Russian oligarchs Roman Abramovich and Alisher Usmanov hide their assets.

The sanctions, announced by the Foreign Office on Wednesday, are targeted at what officials describe as “oligarch enablers”, whom they accuse of knowingly assisting the billionaire businessmen to shield their wealth.

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