Business and Economics

If Amazon really wanted to help our public services, they'd pay taxes properly and treat their workforce better says GMB Union GMB, Britain’s general union, has branded Amazon’s £600million public sector deal ‘a joke’ The internet giant has secured a contract to sell everything from paper clips to bandages to Yorkshire’s schools, social care providers and emergency services. Amazon signed the five-year deal with Yorkshire Purchasing Organisation (YPO), a procurement body owned by local authorities which helps to drive the...

The Bank of England’s interest rate hike has been slammed as “premature” by the CEO of one of the world’s largest independent financial advisory organisations, who added the rate decision could be “motivated to protect reputations.” Nigel Green, founder and chief executive of deVere Group, is speaking out after the governor of the UK’s central bank, Mark Carney, announced today (Thursday) a rate rise from 0.5 per cent to 0.75 per cent, taking the UK's base rate of interest to...

The car industry has been one of the most vocal against Brexit due to the damage it could inflict on car production in the UK. Now Mike Hawes, chief executive of the Society of Motor Manufacturers and Traders has said that none of the car makers in the UK is ready for a no-deal Brexit. He said he is “increasingly concerned” about the UK failing to reach any kind of deal with the EU. A “no deal” Brexit means that...

The London Economic (TLE) and office product specialists Fellowes are teaming up to offer one lucky company the ultimate productivity-boosting prize… an ergonomic office equipment bundle. Is your office making you less productive? Equipment poor? Uncomfortable at your desk? All of the above? Well, you’re not alone. According to Fellowes’ Productivity in 2018 report, 60% of office workers believe their business has productivity issues with the average worker being un-productive for an hour and a half every day. Not only...

The financial services industry must “unite and fight” against a no-deal Brexit that potentially erodes clients’ rights and damages the financial sector itself, warns the boss of one of the world’s largest independent financial services organisations. The warning from deVere Group founder and CEO, Nigel Green, comes as the UK's International Trade Secretary, Liam Fox, said that Britain should accept a ‘no-deal’ scenario, instead of requesting more negotiating time. It also follows MPs being told earlier this week by the Association of British Insurers that...

Dividends and interest worth £263 million were accrued by shareholders in 2017 alone, GMB Union figures show An investigation by GMB, the water union, has revealed United Utilities shareholders have made more than £1.2 billion in just five years. The privatised water company showered shareholders with a total of £263 million in 2017 alone. As millions in the North West face life under a hosepipe ban, GMB revealed United Utilities waste 400 million litres of water every single day through...

Jacob Rees-Mogg has suggested it could take 50 years to judge whether Brexit has been an economic success. The dire warning comes as the leading Brexiteer launched a second fund in Ireland. Somerset Capital Management (SCM), which ploughs millions of pounds into emerging markets, created the fund to meet demand from international investors. The UK’s withdrawal from the EU has forced many asset managers to set up replica product ranges in European investment hubs such as Dublin and Luxembourg in order to...

A coalition of environmental groups have warned that a no deal Brexit could have catastrophic consequences for the environment. Greener UK have published a paper that highlights the potential environmental problems that are likely to happen if the British government can not sign an agreement with the EU. The group, which includes WWF, Greenpeace and Friends of the Earth have said that a No deal Brexit would make UK ‘dumping ground’ for chemicals banned in Europe. Shaun Spiers, chair of...

A new report out today has revealed Artificial Intelligence (AI) will create as many jobs as it displaces by boosting economic growth in the UK. In absolute terms, around 7 million existing jobs could be displaced, but around 7.2 million could be created, giving the UK a small net jobs boost of around 0.2 million. While the overall net effect of AI on UK jobs may be broadly neutral, this varies significantly across industry sectors. The most positive effect of AI is...