Category Archives: Business

Fatima Payman admits she ‘upset a few colleagues’ by crossing the floor – as it happened

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Housing minister Julie Collins is speaking to the ABC RN about Labor’s build-to-rent bill which was knocked back in the Senate yesterday, with the Greens and the Coalition combining to delay it:

What we want to do is get this done. We’ve already been consulting, we announced it in the previous budget. Any delays will actually stop the pipeline of construction and the certainty for the sector.

What we want to do is get more affordable homes and more homes of every type on the ground as quickly as we can.

We’re saying they have to have a minimum of 10% to be eligible for the tax concessions that we’re talking about for each development.

That’s what our consultations and our discussions with the sector have done and, as I said, this is not the only thing we’re doing for affordable homes … My point here is that they continually delay and block housing up every time by coming together and having this unholy alliance between the Liberals and the Greens in the Senate, because they’re more interested in votes than they are about people.

We’re not open to negotiation and we want to get this done.

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Labour to seek ‘stable position’ with Europe rather than reopen Brexit debate

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Shadow business secretary says trying to rejoin single market or customs union would cause ‘more difficulties’

Labour would rather have stability in the UK’s relationship with Europe than try to seek accelerated economic growth by rejoining the EU’s single market or customs union, the shadow business secretary has said.

Addressing the British Chambers of Commerce (BCC) conference on Thursday, Jonathan Reynolds acknowledged that Brexit had been “very difficult for businesses” because it had erected trade barriers, but said reopening the debate would be worse.

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Ex-Fujitsu engineer apologises at Post Office inquiry over ‘bandwagon’ claim

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Gareth Jenkins says past accusation against high-profile victim of Horizon IT scandal was ‘totally inappropriate’

A former Fujitsu engineer has apologised for emails in which he accused Seema Misra, a high-profile victim of the Post Office’s Horizon IT scandal, of “jumping on the bandwagon” in questioning the reliability of the organisation’s computer system.

Gareth Jenkins, a former senior engineer at Fujitsu, which developed the Horizon system, was giving evidence for a third day to a public inquiry examining why the Post Office wrongly prosecuted hundreds of branch operators for financial discrepancies before it emerged that the system was unreliable.

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Boeing blasted by US regulator for revealing panel blowout details to media

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NTSB sanctions plane maker for ‘blatantly’ breaching rules as it investigates January Alaska Airlines incident

Boeing has been sanctioned by the top US accident investigator for having “blatantly violated” regulations by revealing private information to the media and speculating about what caused January’s cabin panel blowout on a brand-new airplane operated by Alaska Airlines.

The National Transportation Safety Board (NTSB) said it is cooperating with the Department of Justice, which is deciding whether to prosecute Boeing after declaring it had breached a settlement over two fatal crashes in 2018 and 2019.

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Global wave of elections could hit UK financial system, warns Bank of England

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Central bank raises concerns over newly elected governments as more than 80 countries go to polls this year

Uncertainty caused by a global wave of elections, starting this weekend in France, risks destabilising the UK’s financial system, the Bank of England has warned.

Officials are concerned about the kind of policies that newly elected governments may enforce in large economies, including the US, where Donald Trump is vying for another term as president in the run-up to the election in November.

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Cost of toothpaste can double through the year in UK, study finds

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Research discovers the cost of some healthcare products fluctuates wildly, according to time of year you buy them

Dentists agree that brushing twice a day is the best way to look after your teeth. But depending on what month it is, dental hygiene can be a dramatically more expensive habit to maintain.

New research has shown that the cost of a tube of toothpaste at some times of the year can be double its price at other times. The price of other popular health products such as Gillette razors can also double depending when they are bought.

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UK must stop ‘walking on eggshells’ over post-Brexit deal, says BCC chief

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British Chambers of Commerce director general calls on politicians to improve ties with EU and strike better deal

The UK’s current trade deal with the EU is not working and the country must stop “walking on eggshells” around the issue of building closer ties with its biggest trading partner, the director general of the British Chambers of Commerce (BCC) is expected to say.

At the annual BCC global conference in London on Thursday, Shevaun Haviland will say that the UK must forge closer ties with the EU and the next government should focus on improving trading relations to grow the economy.

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General Motors names new CEO of troubled self-driving subsidiary Cruise

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Robotaxi service recovering from gruesome collision with pedestrian that triggered suspension of California license

General Motors on Tuesday named a veteran technology executive with roots in the video game industry to steer its troubled robotaxi service Cruise as it tries to recover from a gruesome collision that triggered the suspension of its California license and the removal of all its robotaxis from the state’s roads.

Marc Whitten, one of the key engineers behind the Xbox video game console, will take over as Cruise’s chief executive nearly nine months after one of the service’s robotaxis dragged a jaywalking pedestrian – who had just been struck by a vehicle driven by a human – across a darkened street in San Francisco before coming to a stop.

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Human rights group urges UK financial regulator to block Shein’s LSE flotation

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Campaigners allege Uyghur people used as forced labour at some of fast-fashion retailer’s cotton suppliers in China

A human rights group has urged Britain’s financial regulator to block the Chinese fast-fashion retailer Shein’s planned blockbuster flotation on the London Stock Exchange.

Stop Uyghur Genocide, a UK-based human rights charity that alleges minority Uyghur people are being used as forced labour at some of Shein’s cotton suppliers in China’s north-western Xinjiang region, has begun a legal campaign against the planned stock market listing.

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Lift prices, find your niche or shut: Australian cafes face tough choices as inflation bites

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Hospitality outlets are being forced to evolve as cost-of-living pressures change the way cash-strapped consumers spend their money

The Sydney eatery John Montagu is known for its sandwiches.

The cafe in the harbourside suburb of Woolloomooloo has an avid following, especially among those who appreciate that it is named after the Earl of Sandwich, which may sound comical but is a bone fide noble title.

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Low wages under Tories have pushed 900,000 UK children into poverty, report finds

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TUC says party has overseen ‘huge rise’ in poverty, as Resolution Foundation says average wages just £16 a week higher in real terms than in 2010

The crisis of poverty that has taken root in the UK over the past 14 years has been laid bare in two reports that reveal the devastating effects low wages and price increases on the lives of 900,000 children.

With both main parties proposing tough welfare spending plans, reports have highlighted the link between rising child poverty and slow wage growth under five Conservative governments since 2010 – the slowest growth since the second world war.

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London Tunnels moves IPO plan to Amsterdam in blow to UK markets

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Proposed tourist attraction hopes to bring 2m visitors a year to abandoned wartime network

London Tunnels, which aims to convert an abandoned underground network into a tourist attraction, has ditched plans to float in the capital, instead opting to list in Amsterdam.

The company aims to make the Kingsway exchange tunnels, a network of 8,000 sq metres under Holborn in central London, into a new attraction that will bring in 2 million visitors a year.

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Apple found in breach of EU competition rules

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European Commission finds iPhone maker broke new laws designed to protect smaller competitors against big tech platforms

Apple has been found to be in breach of sweeping new EU laws designed to allow smaller companies to compete and allow consumers to find cheaper and alternative apps in the tech business’s app store.

The European Commission, which also acts as the EU antitrust and technology regulator, said it had sent its preliminary findings to Apple after an investigation launched in March.

“For too long Apple has been squeezing out innovative companies — denying consumers new opportunities and choices,” said Thierry Breton, the European commissioner responsible for digital markets, on X.

In preliminary findings, against which Apple can appeal, the European Commission said it believed its rules of engagement did not comply with the Digital Markets Act (DMA) “as they prevent app developers from freely steering consumers to alternatives channels for offers and content”.

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Geologists raise concerns over possible censorship and bias in Chinese chatbot

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GeoGPT developed as part of Chinese-funded earth sciences programme aimed at researchers in global south

Geologists have raised concerns about potential Chinese censorship and bias in a chatbot being developed with the backing of the International Union of Geological Sciences (IUGS), one of the world’s largest scientific organisations and a Unesco partner.

The GeoGPT chatbot is aimed at geoscientists and researchers, particularly in the global south, to help them develop their understanding of earth sciences by drawing on swaths of data and research on billions of years of the planet’s history.

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China-owned British Steel said to have requested £600m of taxpayer support

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Company is looking for help from next government to upgrade to less polluting technology

Chinese-owned British Steel has reportedly submitted a request for a package of taxpayer support worth £600m as it looks for assistance from the next government to upgrade to less polluting technology.

Government officials are due to review plans that set out the costs of switching from blast furnaces to electric arc furnaces at the company’s steelworks in Scunthorpe, Lincolnshire, the Sunday Times reported.

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John Lewis is ‘back on track’, says outgoing chair Sharon White

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Return to profit will enable ‘significant investment’, including Waitrose refurbs and more convenience stores

The outgoing chair of John Lewis has insisted that the retail group is “back on track” and “more fit for the future” with an improving financial position enabling it to spend money refurbishing Waitrose supermarkets and opening convenience stores.

Sharon White, who will retire as chair of the John Lewis Partnership in September, said the upmarket Waitrose brand was “underrepresented in convenience” as it sought new avenues of growth.

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Revealed: the ‘catastrophic scale’ of sewage spills in England and Wales

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Water companies have logged five sewage spills a day, every day, for a decade, analysis by the Observer shows

Water companies in England and Wales have averaged five serious sewage spills into rivers or seas every day over the past decade, the Observer can reveal.

Analysis of Environment Agency data has found that the 10 firms recorded 19,484 category 1-3 pollution incidents between 2013 and 2022, the most recent year recorded, an average of one every four and a half hours.

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Starmer’s growth plan ‘doomed’ without access to EU markets, warn economists

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Labour leader told if elected he will have to rejoin the customs union to meet party’s manifesto pledges, while 56% of voters say Brexit was bad for economy

A Labour government under Keir Starmer will fail to maximise the UK’s economic growth unless it takes the country back into the European Union’s single market and customs union, leading economists and diplomats have said.

The warnings come as an Opinium poll for the Observer finds that 56% of voters now believe Brexit has been bad for the UK economy as a whole, compared with just 12% who believe it has been economically beneficial.

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Restaurateur Jeremy King continues comeback with opening of the Park

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After losing his empire in 2022, the lauded host is opening a ‘new world grand cafe’ in London’s Bayswater

This month, Jeremy King will open the Park, an all-day restaurant in Bayswater. It is the second of three big 2024 openings for the lauded restaurateur, who was behind the heydays of some of London’s most celebrated restaurants such as Le Caprice, the Ivy and the Wolseley.

It follows the launch of Arlington in January, King’s modern reboot of Le Caprice, once a favourite with the stars from Diana, Princess of Wales to Mick Jagger. Later in the year he’ll be reviving another stalwart, Simpson’s on the Strand.

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Cyberattack hobbles car dealers across US and Canada for third day in a row

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CDK said in a letter to its 15,000 customers that it ‘did not have a an estimated time frame for resolution’

A cyber outage at a major retail software provider for automobile dealers entered its third consecutive day on Friday, delaying car sales throughout North America, the affected companies said. The software provider, CDK, said there was no end in sight.

“The CDK outage is impacting automotive dealerships across the US and Canada, including a portion of BMW Group dealers,” a spokesperson for BMW North America told Reuters.

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