Business and Economics

The drastic slump on the high street shows no signs of improving after a report indicated that 70,000 retail jobs were cut in 2018. Customers are increasingly shopping on-line leading to huge falls in profits for many household name retailers. The British Retail Consortium (BRC), who conducted the study, said that even the Christmas season failed to halt the decline of customers avoiding the high street. The BRC's report said there was a 2.2% decline in retail employment over the...

Tom Enders, the head of Airbus, a major UK employer has not held back over his thoughts on the Government’s handling of Brexit. Enders slammed the Government branding it a “disgrace” and said the business might be forced to leave these shores, post-Brexit, to ensure they can compete in the global marketplace. Airbus, which employs more than 14,000 people in the UK with around 110,000 more jobs connected in supply chain. He said: “In a global economy the UK no...

The revolving door between Government and big business is a well-trodden path, which shows no signs of abating. Now former Brexit Secretary, David Davis, will trouser a colossal £3,000 an hour as an advisor to JCB. The firm ploughs million into the Conservative Party. It total Davis will be paid £60k for 20 hours work per annum. He will receive £50 a minute for his work. Davis said he had complied with the rules concerning former ministers' employment. He resigned from...

Political uncertainty, the fall in the value of the pound and the crisis on the high street have all taken a toll on Europe's biggest toy market

As the possibility of a No deal Brexit continues the impact of this potential scenario is being calculated. The CBI (Confederation of Business Industry) have illustrated the long-term economic decline the North East would disproportionally suffer under a No Deal situation, compared to the rest of the UK. The study has calculated that the annual loss of output in this region would be worth £7billion by 2034, in an area of the country that is already one of the poorest...

Working people should not be made to pay the price for Conservative political failures says GMB Union amid the sluggish GDP figures today. Economic growth slowed to just 0.3% in the three months to November - the lowest for six months. Meanwhile manufacturing growth has fallen five months in a row now  - the first time this has happened since the global financial crash a decade ago. GMB says this is further proof we are on the wrong economic path. ...

The price of chips could soar as Brexit and Russian Crimean tensions have left a shortage of potato pickers in Jersey, farmers say. Other factors including an improving economy in Poland and a pound that has been weakening since 2016’s EU referendum have also led to a lack of migrant workers on the island - the home of the Royal potato. Traditionally farms have relied on seasonal potato pickers from the EU, but Brexit uncertainties have made it far harder...

Jagaur Land Rover is feeling the squeeze and is about to slash 5,000 jobs due to a decline in diesel sales in Europe and Chinese sales. However, Brexit could cause the company even worse trouble claims the Business Secretary, Greg Clark. Clark believes that a No Deal Brexit would do “extra damage” to the car maker just as it is going through a troubling period. Thousands of jobs are reported to be cut, mainly in management, marketing and administrative roles,...

Banks and financial institutions have shifted at least $1 trillion worth of assets out of the UK and into the European Union because of Brexit, EY have claimed in a report published this week. Many banks have set up new offices in Europe to safeguard their regional operations, which means they have moved substantial assets over to satisfy EU regulators. Other firms are moving assets to protect clients against market volatility and sudden changes in regulation. In total at least £800 billion...