Category: Costs
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Record surge in long-term sickness claims baffles experts amid mounting benefits costs
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Britain’s high sickness bill has left policymakers and economists scratching their heads, with near-record numbers of workers absent for long-term health reasons costing the public purse more than £65.7bn a year. Some 2.8 million people are now claiming disability and disability benefits, well above pre-pandemic levels, and the House of…
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Increased costs for employers
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The New Year is an excellent opportunity for businesses to review their finances and plan effectively for the months ahead. With annual increases in national living, minimum wages and other statutory payments set to come into force in April 2025, it is essential to prepare for these changes in advance.…
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Chancellor heads to China in search of growth amid surging borrowing costs
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Rachel Reeves said that Britain has “absolutely no choice” but to deal with China, as it seeks to support economic growth against the backdrop of high borrowing costs and unstable financial markets. The advisor arrived in Beijing to finalize new trade and investment commitments worth £600 million over five years,…
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UK government debt sell-off accelerates as borrowing costs reach post-2008 peak
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Record borrowing costs in Britain rose to their highest level since the financial crisis, as investors dumped government debt amid persistent inflation fears. The yield on Britain’s 10-year government bond – closely watched as a measure of future interest payments on public borrowing – reached 4.82 per cent on Wednesday,…
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Green Hydrogen Goes From Hyped to Humbled on Eye-Popping Costs
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Breadcrumb links BMN Business A host of projects to produce green hydrogen, a fuel described as essential to reaching net zero, were abandoned this year as forecasts of lower costs failed to materialise. Article writer: Bloomberg News William Mattis Posted on December 21, 2024 • 3 minutes read You can…
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Energy bills likely to inch higher from April as gas costs climb again
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Energy bills for most British households are expected to rise again this spring, as rising wholesale gas prices and escalating grid charges put renewed financial pressure on millions of households. Forecasts from Cornwall Insight, the energy consultancy, suggest Ofgem’s maximum rate could rise by around 1 per cent to £1,762…
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UK inflation rises to 2.3% in October on higher energy costs
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UK inflation rose to a six-month high in October, exceeding the Bank of England’s 2% target, driven primarily by rising household energy bills. The Office for National Statistics (ONS) reported that the annual CPI rose to 2.3% last month, up from 1.7% in September – the highest rate since April.…
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M&S warns of possible price hikes as national insurance hike impacts costs
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Marks & Spencer has warned it cannot rule out a price hike after absorbing an extra £120 million in costs resulting from Chancellor Rachel Reeves’ National Insurance changes and upcoming pay rises. Chief executive Stuart Machin said the retailer would “do everything we can” to avoid passing these costs on…
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Q2 Bitcoin Mining Costs Spike To Nearly $50K
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They say journalists never stop working. But for Christian, this is not just a metaphor, it is a way of life. By day, he navigates the ever-changing tides of the cryptocurrency market, using words like a seasoned editor and crafting articles that decode jargon for the masses. When a computer…
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High street retailers face bleak festive season amid tax hikes and rising costs
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High street retailers are bracing for a tough Christmas trading period, as rising taxes and rising costs raise concerns about the viability of many businesses in town and city centres. A recent report from consultancy BDO revealed that in-store sales in October grew by just 1.7% compared to the previous…
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High street retailers face bleak festive season amid tax hikes and rising costs
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High street retailers are bracing for a tough Christmas trading period, as rising taxes and rising costs raise concerns about the viability of many businesses in town and city centres. A recent report from consultancy BDO revealed that in-store sales in October grew by just 1.7% compared to the previous…
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UnitedHealth’s medical costs surge in third quarter, shares drop
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(Reuters) – UnitedHealth Group reported a rise in third-quarter medical costs on Tuesday, as the company struggled with lower government payments in its insurance business and continued demand for medical care, sending its shares down 3%. For the quarter, the company’s medical loss ratio — the percentage of premiums spent…
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UnitedHealth’s medical costs surge in third quarter, shares drop
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(Reuters) – UnitedHealth Group reported a rise in third-quarter medical costs on Tuesday, as the company struggled with lower government payments in its insurance business and continued demand for medical care, sending its shares down 3%. For the quarter, the company’s medical loss ratio — the percentage of premiums spent…
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EBC Financial Group Enhances Liquidity and Lowers Trading Costs on Major Stock Indices
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Amid the global stock market recovery, EBC Financial Group (EBC) is enhancing liquidity for five major stock indices, including the US Dow Jones Index, Nasdaq, S&P 500, A50 (China), and Hang Seng Index (Hong Kong). This strategic move aims to provide investors with more effective and efficient trading across all…
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Unga narrows full year loss to Sh669.5m on lower costs
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Manufacturer Unga Group Plc narrowed its loss for the year ending June 2024 to Sh669.5 million from Sh959.3 million previously, on lower costs. The company attributed the lower costs to improved efficiencies in its operations and one-time gains in foreign exchange with the appreciation of the Kenyan shilling in the…
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H&M abandons 2024 margin target as markdowns and costs hurt profit By Reuters
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By Mary Manis and Helen Reid STOCKHOLM (Reuters) – H&M (ST:) scrapped its profit margin target for 2024 as high discounting, costs and fierce competition hurt operating profit in the third quarter, sending shares in the world’s second-biggest fashion retailer down about 8%. H&M has struggled to boost profitability amid…
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VR and AR headsets demand set to surge on AI, lower costs, IDC says By Reuters
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Global shipments of augmented reality and virtual reality headsets are expected to grow 41.4% in 2025, supported by more affordable devices and the addition of artificial intelligence features, market research firm IDC said on Monday. Why is this important? Global shipments of augmented reality and virtual reality headsets fell 28.1%…
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Israel’s budget chief warns on jump in interest rate costs
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Senior finance ministry officials warned of higher interest rates due to the state budget breach, economic uncertainty and war, saying that “increasing the budget framework could be dangerous for the economy and a negative signal to investors.” The Knesset Finance Committee today discussed a NIS 3.5 billion breach of the…
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Exclusive-Intel CEO to pitch board on plans to shed assets, cut costs, source says
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By Max A. Czerny and Milana Finn (Reuters) – Intel Corp Chief Executive Pat Gelsinger and top executives are expected to present a plan later this month to the company’s board to cut non-essential businesses and reorganize capital spending in an effort to revive the fortunes of the once-dominant chipmaker,…
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Exclusive-Intel CEO to pitch board on plans to shed assets, cut costs, source says By Reuters
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By Max A. Czerny and Milana Finn Intel Chief Executive Pat Gelsinger and top executives are expected to present a plan later this month to the company’s board to cut non-essential businesses and reorganize capital spending in an effort to revive the fortunes of the once-dominant chipmaker, a person familiar…