Business

US treasury secretary accuses Beijing of trying to damage global economy; silver hits record high – business live
Posted on Tuesday October 14, 2025

Rolling coverage of the latest economic and financial newsWhy has US-China trade war restarted and how have markets reacted?A flurry of takeover talk speculation has pushed up shares in budget airline EasyJet this morning.EasyJet’s shares are up over 7%, leading the risers on the FTSE 100 share index.“[The group] does not believe the redress methodology proposed by the FCA appropriately reflects actual customer loss or achieves a proportionate outcome.“...the FCA’s proposed approach to assessing unfairness does not align with the legal clarity provided by the supreme court judgement in respect of the “Johnson” case, which confirmed that the test for unfairness is highly fact specific and must take into account a broad range of factors. The group will continue to engage with the FCA in respect of these points.“Many motor finance lenders did not comply with the law or the rules. It’s time their customers get fair compensation. Recent court judgments show that liabilities exist no matter what.“We believe our scheme is the best way to settle the issue for both consumers and firms, and alternatives would be more costly and take longer. We recognise not everyone will get everything they would like. But it’s vital we draw a line under the issue so a trusted motor finance market can continue to serve millions of families every year.” Continue reading...

UK labour market shows signs of stabilising after job losses
Posted on Tuesday October 14, 2025

Unemployment rate rises slightly to 4.8% but ONS says falls in and payroll numbers and vacancies are levelling offYoung people are biggest victims of UK’s fragile jobs marketBusiness live – latest updatesBritain’s employment market has shown signs of stabilising after a sharp rise in job losses earlier this year blamed on tax rises introduced by Rachel Reeves.As the chancellor prepares for her 26 November budget, figures from the Office for National Statistics showed the unemployment rate rose to 4.8% in the three months to August, up from 4.7% in July. City economists had forecast the rate to remain unchanged. Continue reading...

Tesco steps up UK sales as Asda struggles amid rising inflation
Posted on Tuesday October 14, 2025

Shoppers hunt for deals as grocery prices rise, particularly for chocolate, fresh meat and coffeeBusiness live – latest updatesTesco has grabbed a bigger slice of Britons’ supermarket shopping, as it stepped up sales and market share, while its rival Asda continued to struggle amid rising grocery inflation.The UK’s biggest supermarket increased its market share to 28.3% in the 12 weeks to 5 October, up 0.7 percentage points on a year earlier, while its sales advanced nearly 7%, according to Worldpanel by Numerator. Continue reading...

Blair’s former policy chief Matthew Taylor to lead Fair Work Agency
Posted on Monday October 13, 2025

Author of influential report on the gig economy says new watchdog can make progress on workers’ rightsLabour has appointed Tony Blair’s former policy chief to lead Britain’s new jobs market watchdog being created by the government to enforce its strengthening of workers’ rights.Matthew Taylor, who led the influential Taylor report on the gig economy and modern working practices for Theresa May’s government, will become the chair of the Fair Work Agency when the body launches next April. Continue reading...

Rachel Reeves to confirm changes to ‘outdated’ planning system
Posted on Tuesday October 14, 2025

Changes intended to reduce ‘burdensome bureaucracy’ and make it easier to build windfarms, reservoirs and housingMinisters are making it easier to build windfarms, reservoirs and large housing developments as part of a series of changes to the government’s planning and infrastructure bill designed to bolster the confidence of developers.The changes, which were first revealed by the Guardian, will be confirmed on Tuesday by the chancellor, Rachel Reeves, as part of a pre-budget push to underline the government’s commitment to economic growth. Continue reading...

Instagram to bring in version of PG-13 system to protect children, says Meta
Posted on Tuesday October 14, 2025

Company says rules similar to US ‘parental guidance’ film rating will be applied to teenagers’ accountsInstagram is to adopt a version of the PG-13 cinema rating system to give parents stronger controls over their teenagers’ use of the social media platform.Instagram, which is run by Meta, will start applying rules similar to the US “parental guidance” movie rating – first introduced 41 years ago – to all material on Instagram’s teen accounts. It means users aged under 18 will automatically be placed into the 13+ setting. They will be able to opt out only with their parents’ permission. Continue reading...

Almost all external insulation fitted under Tory scheme needs repair or replacing, report finds
Posted on Tuesday October 14, 2025

Homeowners who took advantage of government programmes left with cladding likely to cause dampAlmost all the external insulation fitted under the previous government’s energy efficiency scheme was installed so poorly it will have to be repaired or replaced, an investigation has found.Thousands of homeowners who took advantage of the home insulation schemes have been left with incompetently fitted cladding that in some cases is likely to cause damp and mould. Continue reading...