Finance

901
Contract for 14 new trains from FirstGroup will help give County Durham site a future
A £500m deal for 14 new trains has secured hundreds of jobs at Hitachi’s factory in north-east England.
664
UK ’heading into recession’ as ’job crisis’ deepens due to national insurance hike, warns recruitment firm
One of the UK’s biggest recruiters has warned that the UK is heading towards recession, blaming the chancellor’s National Insurance hike for a slump in the jobs market.
629
Bank of England finds that more than half of bosses plan to cut jobs and raise prices following the budget
More than half of British employers plan on cutting jobs and raising their prices in response to Labour’s first budget, a Bank of England survey has found.
748
Calls to boycott dairy company over use of methane-reducing food additive to tackle burping cows
One the UK’s biggest dairy companies is facing a public backlash after including a new controversial additive in its animal feed in a bid to tackle burping cows.
884
Ministers consider renationalizing British Steel if rescue plan fails
Move would be last-ditch attempt to save thousands of UK jobs amid standoff with company’s Chinese owners
880
New Covid corruption chief to leave ‘no stone unturned’, Reeves warns
Tom Hayhoe has been appointed to to claw back taxpayers’ money wasted on deals during the pandemic.
613
British manufacturer TI Fluid Systems agrees to a £1bn takeover by a Canadian rival
It marks the latest loss for the London Stock Exchange amid a flurry of takeover deals and speculation this week.
763
Money trail raises questions about deposed Bangladeshi elite’s £400m UK property empire
Associates of former Bangladeshi PM Sheikh Hasina have spent millions buying up top-flight property assets in the UK
832
Bank of England warns about risks from increasing global trade barriers
The Bank of England warned on Friday that higher trade barriers could hit global growth and feed uncertainty about inflation, potentially causing volatility in financial markets and pushing up borrowing costs for businesses and consumers.
813
TV licence fee to increase by £5 to £174.50 in 2025
The cost of a TV licence is to rise by £5 to £174.50 in 2025, the government has announced.
837
Welcome to China Street: fraudulent businesses taking over UK homes, creating a ’huge tax black hole’
Bogus online businesses could be cheating the exchequer of ‘hundreds of millions’ of pounds in tax, LBC has learned, with MPs calling on Companies House to do more following our findings.
904
Vauxhall’s owner plans to close Luton factory
The owner of Vauxhall has announced plans to close its van making factory in Luton, putting about 1,100 jobs at risk.
968
Thousands of jobs to go at Bosch in latest blow to German car industry
Bosch, the world’s biggest car parts supplier, has said it will cut thousands of jobs, blaming a slower-than-expected transition to electric, software-controlled vehicles.
889
London rents rise again as Savills warns of double-digit increase across the UK
Analysts have warned rents are being pushed to unsustainable levels amid another yearly jump and concerns there is no natural plateau in sight.
874
Ford to cut hundreds of UK jobs in major round of European layoffs
Ford has said it will cut around 4,000 jobs in Europe, including 800 in the UK and 3,000 in Germany, as it grapples with the transition to electric vehicles (EV).
948
Inflation rises to 2.3% in October after jump in energy bills
Inflation increased to 2.3% in October after a jump in energy bills.
814
Winter fuel cut to push 50,000 people into poverty next year
An additional 50,000 pensioners will be living in relative poverty next year as a result of cuts to the winter fuel allowance, the government’s own estimates have revealed.
701
Budget tax hikes could push more firms into financial trouble, warns insolvency specialist
National insurance increase and higher interest rates mean company failures will stay high, says Begbies Traynor
683
Owner of Aberdeen and Glasgow airports sold in £1.53bn deal
Spanish construction giant Ferrovial and joint venture partner Macquarie agreed to sell AGS Airports to AviAlliance.
809
Major banks announce consecutive interest rate hikes, warning they’re “not small”
A string of big lenders have announced interest rate hikes one after the other - as the mortgage market takes a turn for the worse.
856
UK’s largest lender reports house prices at record high
Reeves’s budget could slow demand but prices have not fallen significantly since post-pandemic ‘race for space’
955
Post-Brexit border scheme to simplify trade delayed once more
Single Trade Window designed to reduce friction on imports and exports will be halted until at least 2026 amid cost fears
698
Wall Street and bitcoin soar to record highs as Trump wins US election
Dollar up and renewable energy stocks down, while shares in president-elect’s media business rise by more than a third
871
Bitcoin hits a new record of £58,000 just hours after odds shortened on a Trump win
Bitcoin has reached its highest-ever value as Donald Trump moves closer to an election win.
853
University tuition fees in England set to rise for the first time in eight years
Fees have been frozen at an annual level of £9,250 since the 2017/18 academic year but Education Secretary Bridget Phillipson has now confirmed they will rise from April 2025.