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2 days ago | 
bbc.com | Nick Edser
Global growth forecast slashed by IMF over tariff impactNick EdserBusiness reporter, BBC NewsGetty ImagesThe US growth forecast for this year has been given the biggest downgrade among advanced economies by the International Monetary Fund (IMF) as a result of uncertainty caused by trade tariffs. Growth is now expected to be 1.8% this year, down from the IMF's estimate of 2.7% for the US in January.
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2 months ago | 
bbc.com | Nick Edser
M&S boss says retailers 'raided like a piggy bank'Nick EdserBusiness reporter, BBC NewsReutersUK retailers are being "raided like a piggy bank", the boss of Marks & Spencer has said, as the sector faces rising taxes. Writing in the Sunday Times, Stuart Machin said retailers were facing a series of headwinds, including the increase in National Insurance Contributions (NICs) paid by firms and higher packaging levies.
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2 months ago | 
principia-scientific.com | Nick Edser |Michael Race
The pharmaceutical giant announced its decision just two days after Chancellor Rachel Reeves set out Labour’s plan to go “further and faster” to boost economic growth. AstraZeneca said that after “protracted” talks, a number of factors influenced the move, including “the timing and reduction of the final offer compared to the previous government’s proposal”. The Treasury said a change to the “make-up of the investment” that had originally been proposed led to the government grant being reduced.
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2 months ago | 
bbc.com | João da Silva |Nick Edser |Natalie Sherman
US shares regained some ground after falling sharply in early trade as Trump paused tariffs on Mexico and Canada.
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2 months ago | 
aol.com | Mitchell Labiak |Nick Edser
Heathrow's third runway can be built and operating in a decade's time, Chancellor Rachel Reeves has said. Reeves told the BBC she wanted to see "spades in the ground" in the current Parliament and planes to start using the runway by 2035. She also said that Sadiq Khan, the Labour Mayor of London who is opposed to Heathrow's expansion, could not stop the new runway.
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2 months ago | 
ca.news.yahoo.com | Mitchell Labiak |Nick Edser
Heathrow's third runway could be built in 10 years, Reeves saysHeathrow's third runway could be built and operating in a decade's time, Chancellor Rachel Reeves has said. The extra runway at Heathrow was one of a number of infrastructure projects announced by the chancellor on Wednesday as part of the government's plans to boost economic growth. Speaking to BBC Breakfast, Reeves said she wanted to see "spades in the ground" in the current Parliament and planes to start using the runway by 2035.
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2 months ago | 
ca.finance.yahoo.com | Faisal Islam |Nick Edser
The government is to ease restrictions on how some pension schemes are managed, as part of efforts to boost economic growth. The Treasury said defined benefit pension schemes have a total surplus of £160bn, but under current rules much of the money is trapped and cannot be invested in the wider economy. The government has made boosting growth its main priority in order to boost living standards, but recent figures indicate the economy is struggling to expand.
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Jan 16, 2025 | 
ca.finance.yahoo.com | Simon Jack |Nick Edser
Tax changes announced in the Budget will make it "harder for people to enter the workforce", according to the boss of retail giant Next. Lord Wolfson told the BBC that a rise in National Insurance paid by business will hit the retail sector in particular and meant "the axe has fallen particularly hard" on entry-level jobs. He called on the government to stagger the tax changes over time, rather than introduce them in April, otherwise, jobs or hours will have to be cut.
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Jan 10, 2025 | 
bbc.com | Nick Edser
Consumers could face higher costs in the coming months amid falling confidence among UK businesses.
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Dec 3, 2024 | 
finance.yahoo.com | Peter Hoskins |Nick Edser |Natalie Sherman
Luxury car maker Jaguar has unveiled its new electric concept car and, like a recent controversial teaser video, it has divided opinion. Some on social media said the new Type 00 car was "exciting" and "absolutely stunning", while others called it "rubbish" and told Jaguar's designers to "go back to the drawing board". However, the carmaker has suggested the reaction is exactly what it wanted, as it tries to reset its brand to revive sluggish sales.
