Category: labour
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U.K. Labour Market Update: September 2024
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The latest UK employment data reveals a mixed picture, with signs of a slowdown in the labour market but persistent wage pressures, leaving the Bank of England in a delicate position ahead of its meeting on September 19. Key points: The UK employment rate for people aged 16-64 is estimated…
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Labour finalising £500m rescue for Tata Steel’s Port Talbot plant
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The UK government is close to completing a £500m bailout for Tata Steel’s Port Talbot plant, after its blast furnaces were shut. The financing agreement, initially developed under the previous government, aims to help Tata Steel shift to a more environmentally friendly production method by building an electric arc furnace…
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Labour scraps plan for ‘British Isa’ aimed at boosting UK stock investment
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The Labour government is expected to abandon plans to create a “Britain Savings Account”, a scheme initially proposed by the previous Conservative administration to encourage investment in British shares. The move comes amid concerns that the initiative could complicate the individual savings account market rather than effectively support UK stocks.…
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Non-dom tax reforms could cost labour £1bn, warns Oxford Economics
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Labour’s plan to reform the tax system on foreigners could cost the UK government up to £1bn as wealthy individuals flee the country, a report by Oxford Economics has warned. The proposed reforms, which will come into effect from April 2025, aim to replace the current system that allows non-residents…
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Dollar near two-week highs ahead of labour data deluge By Reuters
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Written by Ankur Banerjee SINGAPORE (Reuters) – The dollar edged up and held near a two-week high on Tuesday as investors braced for a slew of economic data, including U.S. jobs data on Friday, that could influence the size of an expected interest rate cut by the Federal Reserve. The…
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Dollar near two-week highs ahead of labour data deluge By Reuters
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Written by Ankur Banerjee SINGAPORE (Reuters) – The dollar edged up and held near a two-week high on Tuesday as investors braced for a slew of economic data, including U.S. jobs data on Friday, that could influence the size of an expected interest rate cut by the Federal Reserve. The…
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Israel’s main labour union calls strike as pressure mounts for hostage deal By Reuters
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By Emily Rose and Stephen Sher JERUSALEM (Reuters) – The head of Israel’s largest labor union called for a general strike on Monday to pressure Prime Minister Benjamin Netanyahu’s government to return Israeli hostages still being held by Hamas in Gaza, as thousands of protesters took to the streets. The…
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Oasis reunion tour set to boost uk economy, benefiting Labour and the treasury
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The long-awaited Oasis reunion tour is expected to deliver more than just nostalgic songs; it is expected to provide a significant boost to the British economy, a move that could be beneficial for the Labour Party. According to Paul Haywood-Schaefer, senior director at audit and consulting firm Blake Rothenberg, the…
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Fed’s Daly: Labour market is in complete balance
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. Daly’s comments on Bloomberg TV: It’s hard to imagine anything that could derail a September rate cut. It’s time to change the policy. We do not want to continue to tighten monetary policy while inflation is falling. The risks to our goals are now balanced. The most likely outcome…
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UK labour market report in focus in the session ahead
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Major currencies are still trading mostly flat, with smaller ranges remaining so far today. There will be another tentative session in Europe, with market players watching key US data this week. Here’s a look at the USD pairs and their daily ranges at the moment: Looking ahead to the session…
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British Steel nears £600m Government bailout as Labour signals intent to break deadlock
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The UK government is close to approving a £600m bailout for British Steel, with the money set to be used to secure the future of the company’s Scunthorpe plant. The move comes as Labour has shown renewed determination to resolve long-standing issues with Chinese company Jinji, owner of British Steel,…
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Labour told growth plan will fail without £50bn investment
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The Labour government has no chance of meeting its target of 2.5 per cent economic growth without increasing annual investment by £50bn, an independent think tank has said. The warning, issued by the National Institute of Economic and Social Research, comes as another group of researchers said Rachel Reeves would…
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More from Fed’s Daly – monitoring labour market indicators carefully
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High Risk Warning: Foreign exchange trading carries a high level of risk that may not be suitable for all investors. Leverage also creates additional risks and exposure to loss. Before deciding to trade foreign exchange, carefully consider your investment objectives, level of experience, and risk tolerance. You may lose some…
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Labour boosts clean energy funding with record £1.5bn auction
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The Labour government is set to significantly increase funding for clean energy projects, announcing a record £1.5bn for the summer subsidy auction – a 50% increase on previous figures. The push is aimed at revitalising the UK’s clean energy sector after the previous administration failed to secure any new offshore…
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Labour government presses ahead with non-dom tax reforms
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Non-residents hoping for changes or delays to the new Labour government’s reforms will be disappointed by the UK Treasury’s policy paper released yesterday, according to leading audit, tax and business advisory firm Blick Rothenberg. “Non-residents calling for changes or a delay to the Conservative government’s original proposals will be disappointed,…
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Labour Chancellor Rachel Reeves to Unveil £19bn Financial Shortfall and Outline Tax Increase Plans
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Chancellor Rachel Reeves is set to unveil a £19bn deficit in the public finances, paving the way for an expected tax rise in the autumn. The announcement comes as it assesses fiscal challenges inherited from the previous conservative administration. An early audit has revealed “excess pressures” of around £19bn in…
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How skills arbitrage can cure global labour woes
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The world today faces a strange dilemma where some countries suffer from a shortage of talent, while others struggle to generate enough jobs for their young people. The solution lies in the economic geography of skill arbitrage. To understand more deeply the geo-economic tool known as “skill arbitrage”, let us…
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Willys Mac’Olale sheds light on AfCFTA impact on free movement of labour
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In May 2018, Kenya ratified the African Continental Free Trade Area, becoming one of the first countries on the continent to adopt the agreement that aims to remove trade barriers and encourage investment. With the free flow of trade and investment, there will inevitably be labour mobility as companies seek…
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Labour faces legal quandary over proposed North Sea licence ban
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The Labour government faces a major legal challenge over its commitment to an immediate ban on new oil and gas exploration licences in the North Sea amid an ongoing licensing round. After Labour secured power with a decisive election victory last week, its promise to halt new exploration licences in…
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Millions of people not working is ‘unacceptable’ says Labour
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The new Labour government is taking a tough stance on rising unemployment in the UK. Liz Kendall, the Work and Pensions Secretary, has described current unemployment levels as “unacceptable” and proposed several measures to address the issue. These measures include the introduction of a national jobs and careers service aimed…