Ditching furlough scheme will add to UK’s economic woes, warn unions and firms

Rishi Sunak criticised for cutting off wage-subsidy lifeline that still supports over a million jobs Rishi Sunak’s decision to wind up the furlough scheme today will intensify Britain’s economic woes, an array of unions, business groups, employment experts, City firms and politicians have warned. With signs of activity slowing even before pressures on supply […]

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Nando’s and Deliveroo chiefs join hospitality council to help crisis-hit UK sector

Burger King and Starbucks leaders also sign up to new body to discuss mounting challenges Bosses from chains including Nando’s, Starbucks and Prezzo have been drafted in to advise the government on its plans to boost the hospitality sector after the easing of lockdown this summer. Amid mounting concern over staff shortages and supplies […]

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New Zealand loan holders launch legal action to force Australian-owned banks to refund fees

Amount sought from ANZ and the Commonwealth Bank-owned ASB could be in excess of $100m • Get our free news app; get our morning email briefing A New Zealand law firm has filed a multimillion-dollar class action against two Australian-owned Kiwi banks on behalf of 150,000 home and personal loan customers. In Auckland high […]

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PM says UK fuel situation improving but urges motorists to go about business in ‘normal way’ – as it happened

Rolling coverage of the latest economic and financial news, as the UK’s supply chain crisis continues Full story: Supply chain crisis could last months admits PM Full story: Fuel crisis leading to cancellations of NHS cancer appointments Boris Johnson says situation is improving But doesn’t back calls for medical staff to get priority fuel […]

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The Southeastern train arriving on platform 3 is £25m late

Latest rail franchise to hit the buffers at least arrived at the destination via an unconventional route Government to take over Southeastern State takeover will amplify calls for rail reform The conventional way for a company to get stripped of a rail franchise is to over-bid massively and inflict such misery on the shareholders […]

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How much poorer would the rich need to be to provide a basic minimum income for everyone?

The long-running series in which readers answer other readers’ questions on subjects ranging from trivial flights of fancy to profound scientific and philosophical concepts How much poorer would the rich need to be to provide a basic minimum income for everyone? Robin Devany Post your answers (and new questions) below or send them to […]

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UK fuel suppliers expect crisis to ease soon, as petrol prices rise and disruption continues – as it happened

Fuel industry and government renew calls for people not to panic-buy, as RAC reports petrol prices have risen Evening summary Fuel suppliers predicts normal demand ‘in coming days’ RAC: Petrol prices rose over weekend…and more motorists ran out Public should buy petrol as normal, says environment secretary London mayor: reserve some petrol stations for […]

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UK interest rate rise in 2022 becoming more likely, says Bank chief

Andrew Bailey says inflationary pressures strengthen the case but ‘we are monitoring situation closely’ The inflationary pressures building in the UK has made a rise in interest rates next year more likely, the central bank chief has warned. Against a backdrop of rising fuel prices and the prospect of higher transport costs pushing up […]

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Scam ‘epidemic’: Big tech firms must join fight, says Nationwide chief

Building society launches pre-payment hotline after bank-transfer scams rise sharply during pandemic Technology, telecoms and social media companies should take more responsibility for stopping scams as the problem reaches “epidemic proportions”, the UK’s biggest building society has warned. Cases of authorised push-payment fraud, where victims are persuaded to pay money into a criminal’s account, […]

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