Millennial Homeownership Reaches 12-Year High Amid Rising Wages

Homeownership among millennials has climbed to its highest level in over a decade, driven by a significant rise in earnings among young people, according to recent research from the Institute for Fiscal Studies (IFS). The IFS’s findings reveal a notable rebound in property ownership among 25 to 34-year-olds, which had been at a low point […]

Dame Kate Bingham Celebrates ‘Astonishing’ $3bn Deal for EyeBio

In a landmark deal for the biotech industry, EyeBio, a London-based startup co-founded by Dame Kate Bingham, has been acquired by US pharmaceutical giant Merck, known as MSD in the UK, for up to $3bn (£2.36bn). This acquisition is poised to revolutionise treatments for blindness. Merck has committed to an initial payment of $1.3bn (£1bn) […]

UK Households with No Work Reach 12-Year High Amid Labour Crisis

The number of UK households where no adult has ever worked has reached a 12-year high, highlighting a deepening labour crisis that experts warn is stifling Britain’s economic growth. In the first quarter of this year, there were 269,000 non-student households where no adult had ever been employed, the highest figure since spring 2012, according […]

Evening Standard scraps daily print paper blaming work from home for demise

The Evening Standard has announced plans to cease its daily print edition, transitioning to a weekly format as it grapples with the impact of remote work and improved wifi on the London Underground. The London-based freesheet informed staff on Wednesday that it will halt daily publication, instead introducing a weekly edition. The fate of the […]

Jaguar Land Rover Boosts EV Mechanic Training to Tackle High Repair Costs

Jaguar Land Rover (JLR) has embarked on an extensive training programme to equip thousands of mechanics with the skills needed to service electric vehicles (EVs), addressing concerns over a skills shortage that is driving up repair costs for EV drivers. On Thursday, JLR announced that it has trained 95% of the mechanics at its affiliated […]

British Firm Curve to Challenge Apple Wallet with New Payment System

<?xml encoding=”utf-8″ ?????????> A London-based financial technology firm, Curve, has announced plans to introduce the first alternative to Apple Wallet, setting the stage for increased competition in the digital payments arena. Curve’s innovative system will enable users to make “tap and go” payments on their phones by downloading the Curve app and setting it as […]

Zoopla: Increased Housing Supply to Stabilise UK House Prices

<?xml encoding=”utf-8″ ?????????> The number of homes available for sale in the UK has reached its highest level in eight years, according to property search website Zoopla, which forecasts that this surge in supply will help moderate house price increases in the coming year. Zoopla’s latest analysis reveals a 20% increase in homes on the […]

UK Car Industry Urges Government Action Amidst Production Decline

<?xml encoding=”utf-8″ ?????????> The UK’s automotive sector is calling on the incoming government to implement a robust industrial strategy to aid the transition to electric vehicles, following another month of declining production. According to data from the Society of Motor Manufacturers and Traders (SMMT), only 61,800 cars were manufactured in April, a year-on-year decrease of […]

U.S. prevents Russian Deripaska from withdrawing $1.5 billion from U.S. sanctions

The US government says it has exposed Russian oligarch Oleg Deripaska and three Russian companies in an attempt to illegally unfreeze more than $1.5 billion blocked under sanctions. This is stated in a statement of the Office of Foreign Assets Control of the US Department of the Treasury (OFAC). According to the U.S., in June […]

IWG Founder Sells £68.5m in Shares to Repay Bank Loan

<?xml encoding=”utf-8″ ?????????> Mark Dixon, the founder and chief executive of IWG, has sold a substantial stake in the serviced offices company, amounting to £68.5 million, to repay a bank loan. Despite the sale, Dixon, 64, still retains a 25.2% share in the company. Dixon disposed of 35 million shares at just under 196p each […]