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Chancellor abandons income tax hike
The government has reversed its decision to raise income tax. A source said that Prime Minister Keir Starmer and Chancellor Rachel Reeves decided against the tax increase after a series of intense briefings and amid concern over the response from voters. Instead, they may consider smaller tax-raising measures to address a shortfall in the public…
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AI set to reduce retailer’s headcount
Nick Glynne, CEO of Buy It Direct, predicts that automation and AI will reduce the company’s workforce by two-thirds within three years. Currently employing over 800 staff, the firm may cut more than 500 jobs due to rising operational costs. Mr Glynne told BBC 5 Live’s Wake Up To Money that future prospects for hiring…
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Trump administration sued over political ‘loyalty’ hiring plan
Unions representing federal workers have filed a lawsuit against the Trump administration challenging the inclusion of a “loyalty question” in over 1,700 job postings since October. The American Federation of Government Employees, along with other unions, argues that this question, which asks applicants how they would support the President’s Executive Orders, violates free-speech rights and…
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HSBC’s leadership revolution kicks off
HSBC has launched a new leadership programme at its $150m campus in Guangzhou that is aimed at transforming its corporate culture. Chief executive Georges Elhedery is driving the change, emphasising accountability and high performance. The programme will be implemented across HSBC’s global offices. Elhedery, who took over in 2024, faces the challenge of reshaping a…
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McDonald’s strengthens measures against harassment
McDonald’s has agreed to strengthen its measures to protect UK staff from sexual abuse, extending its legal agreement with the Equality and Human Rights Commission (EHRC) for an additional year. The EHRC’s chairwoman, Baroness Kishwer Falkner, said: “We needed to update the action plan with stronger actions.” The new measures include working with external experts…
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IBM plans to reduce its workforce
IBM has announced plans to reduce its workforce by potentially thousands of positions in the fourth quarter as it shifts focus towards its more profitable software sector. Despite a 35% increase in its shares this year, the company has faced a slowdown in its key cloud software growth, raising concerns among investors about future performance….
