Report says confidence among 16- to 21-year-olds has fallen sharply as they doubt hard work will be rewarded
Young people in England are increasingly “losing faith in their futures” according to a report, as record numbers fear long-term unemployment.
Analysing survey data, including from the Office for National Statistics, the Institute for Public Policy Research (IPPR) said 16- to 21-year-olds were less confident about being successful than a decade ago.
Continue reading...European Central Bank increases main deposit rate to 2.25%, with two further rises expected by next spring
The European Central Bank has raised interest rates for the first time since 2023 in response to higher inflation caused by the war in Iran.
The ECB raised its main deposit rate from 2% to 2.25% in a move that financial markets expect to be the first of three rises by next spring.
Continue reading...Budget airline describes inquiry as ‘bogus’ as watchdog says it is only large carrier flying from UK to impose charge
Europe’s biggest low-cost airline, Ryanair, is facing an investigation over the mandatory fee it charges a parent to sit with their child.
The Competition and Markets Authority (CMA) said the Irish carrier’s terms and conditions require at least one parent to sit with their children, including those with disabilities, and bills them about £8 a flight to do so.
Continue reading...Whistleblowers from Mitie allege some employees have made offensive remarks or liked abusive social media posts
One of the government’s key contractors has launched an investigation into allegations of racism, antisemitism, Islamophobia and hate speech among staff working in immigration removal centres, the Guardian has learned.
Whistleblowers from the company, Mitie, have alleged that some staff members working in immigration removal centres and deporting migrants have made offensive comments at work and in social media posts.
Continue reading...Retailer plans to shut unprofitable stores as falling US airport traffic due to Middle East conflict hits trading
Business live – latest updates
WH Smith has issued a profit warning after shopper numbers at its stores in US airports fell as a result of the war in the Middle East, prompting the company to raise fresh capital from investors.
The retailer, which operates 1,200 outlets globally in airports, railway stations and hospitals, raised £102m through a share sale on Wednesday to strengthen its balance sheet, pay down debt, invest in technology and shut down unprofitable stores after “a downturn in trading conditions”.
Continue reading...Research suggests households that include a GLP-1 user collectively spent £780m less on grocery bills
Weight-loss drugs are saving users’ households more than £400 a year on grocery bills, according to a survey, which found use of GLP-1s has nearly tripled in the past two years to 1.9 million adults.
More than 6.3% of households in Great Britain now include at least one GLP-1 user, according to the research by Worldpanel by Numerator. This marks a sharp rise from 4.1% of households in 2025 and 2.3% in 2024.
Continue reading...Amazon and Sony among firms that may have sourced coltan, used in phones, from supply chains controlled by the M23 rebels, says Global Witness
Leading global brands including Amazon, Ericsson and Sony are “likely” to have sourced minerals linked to a militia accused of widespread sexual violence, summary executions and torture, a new investigation claims.
The companies allegedly, but unknowingly, acquired coltan smuggled from mines in the Democratic Republic of the Congo (DRC) that are occupied by the M23 militia, which has committed myriad atrocities in eastern DRC.
Continue reading...Low wages and fears of ICE crackdowns have set workers on edge of strike as thousands set to arrive during World Cup
Hospitality and food service workers in several US cities hosting World Cup games are warning of looming labor disputes and possible strikes as the largest single sport tournament in the world gets ready to kick off on 11 June.
In Los Angeles, California, cashiers, dishwashers, cooks, bartenders, concessions workers and food attendants at the SoFi stadium reached a tentative agreement on Tuesday afternoon, but the union noted it has a contractual right to walk off the job if it determines that federal immigration enforcement is threatening worker safety during the World Cup. The US’s opening match, against Paraguay, is scheduled to take place at SoFi Stadium on 12 June.
Continue reading...Protectionist measures will deal blow to country’s budget as it defends itself against Russia, says Metinvest chief
New EU limits on steel imports could destroy Ukraine’s industry and deal a big blow to the country’s budget as it defends itself against Russia, according to the head of its biggest steelmaker.
Yuriy Ryzhenkov, the chief executive of Metinvest, said the new EU quota system due on 1 July could “kill the Ukrainian steel industry”.
Continue reading...Government urged to help speed up vital industrial project amid growing alarm over National Grid delays
Trade unions have called for the government to intervene to speed up Tata Steel’s connection to the electricity grid in south Wales, after the company said its new furnace would be delayed by up to a year.
Tata Steel last month told investors that National Grid had said it would face a six- to eight-month delay. That could stretch to 12 months amid unexpected engineering difficulties.
Continue reading...Buyers are ripped off after assuming online stores were genuine because they are recommended by an AI tool
You want to buy a new bag and so you ask ChatGPT for help. You have always liked Russell & Bromley so you ask ChatGPT what is popular there at the moment.
The artificial intelligence (AI) assistant gives you cross body, shoulder, casual and formal options with the prices listed beside them. You click through from the sources to what looks like the official Russell & Bromley site and buy your new bag, which is conveniently on sale.
Continue reading...Cold storage and logistics body warns food supplies at risk from fuel shortages, cyber attacks and extreme weather
Ministers have been accused of being complacent about the risks to vital supplies of food into the UK amid concerns over fuel shortages, cyber attacks and extreme weather.
The trade body for cold storage and logistics has urged the government to make potential disruption to the UK’s food system an “immediate national priority”.
Continue reading...Union says collective agreement is just the start of a broader fight to unionize major employers across the country
Canadian warehouse workers have signed the first-ever collective agreement with Walmart, a breakthrough labour organizers are calling a “historic and powerful step”.
But the union says the deal with a corporation long hostile to organized labour is only an opening salvo in a broader fight to unionize major employers across the country.
Continue reading...Exclusive: Labour’s Makerfield byelection candidate advocates public ownership of water companies as he prepares for potential leadership bid
Thames Water should be nationalised, Andy Burnham has said, revealing public ownership of water companies would “absolutely be an option” under his potential leadership of the Labour party.
Burnham, Labour’s candidate in the Makerfield byelection, has previously called for “greater public control” over the companies. In an interview with the Guardian, he has confirmed this could mean nationalisation.
Continue reading...Average tour earnings down 45%, with nearly three-fifths of musicians saying touring in Europe is no longer viable
More than a quarter of British musicians have lost all their work in the European Union since 2021, according to new research.
The report by European Movement UK, a cross-party campaign group advocating closer UK-EU relations, found that nearly half of British musicians had experienced a reduced amount of work in the EU since 2021, while more than a quarter had stopped working there altogether.
Continue reading...Unexpected monthly drop of 0.1% in May leaves price of typical home at £298,806, says lender Halifax
UK house prices fell unexpectedly in May as rising mortgage rates fuelled by the war in Iran affected affordability and homebuyer demand.
The average price of a typical UK home fell by 0.1% in May to £298,806 compared with April, the third consecutive monthly drop recorded by the lender Halifax. Analysts had been expecting a return to growth, with a consensus of a 0.1% rise forecast for May. The monthly drop followed falls of 0.1% in April and 0.5% in March.
Continue reading...British Retail Consortium figures show footfall rose in May, with consumer confidence improving after spending squeeze
Greater numbers of consumers went shopping last month as spring sunshine brought welcome relief to retailers, which have faced a squeeze on spending since the US-Israel war on Iran.
Figures from the British Retail Consortium (BRC) and a separate survey by the accountancy firm BDO showed a bounce-back in footfall during May, reversing a sharp decline in April.
Continue reading...US claims world’s 10th-biggest economy engages in ‘unreasonable’ trade practices that ‘restrict US commerce’
The Trump administration proposed 25% tariffs on imports from Brazil, charging that the world’s 10th-biggest economy engages in trade practices that are “unreasonable’’ and that “burden or restrict US commerce”.
Luiz Inácio Lula da Silva said he received the decision “with indignation”. The Brazil president also blamed the decision by the US administration on his rival in October’s elections, Flávio Bolsonaro, the senator who visited Washington last week. The senator is the son of former president Jair Bolsonaro, once nicknamed “the Trump of the Tropics” by his allies.
Continue reading...UK government says it would prefer workers to be guaranteed between eight and 20 hours a week based on regular hours
Ministers are facing criticism from unions and employers after laying out details of plans for a guaranteed regular working week as part of a ban on zero-hours contracts.
Under rules poised to come into force next year, employers will have to offer staff, including agency workers, a contract that guarantees a minimum number of hours each week based on their regular working hours.
Continue reading...Change backed by labor department would expose workers to greater financial risk, letter shared with Guardian says
Congressional Democrats are strongly opposing a US Department of Labor proposal that would allow 401(k) investments to include cryptocurrency, private credit and private equity assets, arguing the change will expose workers to riskier and more complex investments.
In a letter shared exclusively with the Guardian, Senator Bernie Sanders, Senator Elizabeth Warren and House education and workforce committee ranking member Bobby Scott of Virginia, argued the rule would expose an estimated $14.2tn of 401(k) retirement savings to volatile assets and would probably not withstand a challenge in court.
Continue reading...