November 25, 2024
Millions of UK tourists could face new visitor levies as councils seek to fund services
Tourists visiting the UK may soon be asked to pay local visitor levies as councils consider introducing overnight stay charges to support services strained by over-tourism. The move follows similar measures in European destinations like Berlin and Barcelona and aims to address the challenges posed by record visitor numbers in popular areas. Nearly half of […]
November 25, 2024
Enforced office mandates drive workers to seek flexible roles
A growing number of workers are leaving companies imposing rigid office attendance requirements, according to new research. Recruiters report a significant surge in job applications from employees at firms mandating full-time office attendance, with two-thirds of recruiters surveyed noticing this trend. The findings, from a study commissioned by flexible workspace provider IWG, reveal that stricter […]
November 25, 2024
Putin poised to unleash cyber attacks on UK, minister warns
The UK faces an imminent threat of crippling cyber attacks from Russia, capable of “turning out the lights for millions,” a senior minister will warn at a NATO cyber defence conference in London. Pat McFadden, the Chancellor of the Duchy of Lancaster, is expected to highlight Russia’s readiness to wage cyber warfare targeting critical infrastructure […]
November 25, 2024
Sir Jim Ratcliffe’s Belstaff racks up £18m loss as auditors warn of uncertain future
Belstaff, the luxury leather jacket brand owned by billionaire Sir Jim Ratcliffe, has reported a further £18.3m loss, raising fresh concerns over its financial sustainability. Auditors have warned the business remains reliant on ongoing support from its parent company, Ineos, to survive. Despite selling jackets priced up to £2,125, the brand’s sales declined by 4% […]
November 25, 2024
UK Companies Slash Hiring Plans Following Reeves’s Tax Increases
Nearly two-thirds of UK companies are set to scale back hiring plans in response to the Chancellor’s £40bn tax hike, according to new polling by the Confederation of British Industry (CBI). The survey of 266 business leaders found that 62% intend to reduce recruitment, nearly half expect layoffs, and 46% plan to delay employee pay […]
November 25, 2024
UK Hotel Pricing Tech Firm Lighthouse Becomes Latest Unicorn with $370 Million Investment
Lighthouse, a London-based software company specialising in hotel room pricing, has become Britain’s newest unicorn after securing a $370 million (£293 million) investment from American private equity giant KKR. The substantial funding elevates the company’s valuation to over $1 billion, a milestone that grants it unicorn status in the tech industry. Founded in 2012 by […]
November 25, 2024
Salaries in the UK Rise at Fastest Rate in Three Years Amid Christmas Hiring Surge
Christmas hiring is revitalising Britain’s job market, with annual salaries increasing at the fastest rate in three years, according to recent figures. The average advertised salary reached £39,234 last month, marking a 6% rise compared to the same period last year and the highest increase since April 2021. Despite the salary growth, competition for jobs […]
November 25, 2024
Japan, US to form missile plan in case of Taiwan emergency, Kyodo says
REUTERS TOKYO – Japan and the U.S. aim to compile a joint military plan for a possible Taiwan emergency that includes deploying missiles, Japan’s Kyodo news agency reported on Sunday. Under the plan expected to be complied next month, the U.S. would deploy missile units to the Nansei Islands of Japan’s southwestern Kagoshima and Okinawa […]
November 24, 2024
Infrastructure spending jumps 17%
HEAVY TRAFFIC is seen along the flyover along Roxas Boulevard due to road construction, April 6, 2024. — PHILIPPINE STAR/RYAN BALDEMOR STATE SPENDING on infrastructure went up by 16.9% in September fueled by disbursements for finished transport projects, the Department of Budget and Management (DBM) said. In the latest National Government disbursement report, spending on […]
November 24, 2024
Military pension reform ‘not dead’ — DBM chief
A UNIFORMED personnel walks by a Philippine flag. — PHILIPPINE STAR/RYAN BALDEMOR By Aubrey Rose A. Inosante, Reporter THE GOVERNMENT is now crafting an improved version of the bill seeking to reform the pension system for military and uniformed personnel (MUP), Department of Budget and Management (DBM) Secretary Amenah F. Pangandaman said. “MUP is not […]
November 24, 2024
Vehicle sales may top 500,000 next year as interest rates go down
CAR ENTHUSIASTS attend the opening day of the Manila International Auto Show in Pasay City, April 4, 2024. — PHILIPPINE STAR/RYAN BALDEMOR By Justine Irish D. Tabile, Reporter AUTOMOTIVE SALES may hit 500,000 units next year as lower interest rates and upcoming elections spur economic activity, according to the Federation of Automotive Industries of the […]
November 24, 2024
Credit raters warn of possible spillovers of Trump policies on PHL
By Luisa Maria Jacinta C. Jocson, Reporter CREDIT RATING AGENCIES are warning of the potential spillovers of US President-elect Donald J. Trump’s economic policies on the Philippines, which could hurt growth and potentially its credit rating outlook. “There are a few overlapping channels through which the incoming US administration’s potential policies might affect the Philippines. […]
