Economy
Latest articles and news in Economy
EconomyHMRC Gains Powers to Seize Bank Funds for Tax Debts Over £1,000
By Fatma Younis The UK government has granted HM Revenue and Customs (HMRC) new powers to recover unpaid taxes...
EconomyRural Voters Feel Left Behind Before Midterms, Poll Shows
By Islam El-Sakka Polling conducted by the Harris Poll for the Guardian before the midterm elections reveals t...
EconomyRetiring With Less Than $1 Million: 8 Strategies to Stretch Savings
By Basant El-Faramawy Many Americans approaching retirement have not accumulated a seven-figure nest egg, but ...
EconomyBT cuts 18,000 jobs as cost savings boost profits
By Sohaib Shams BT Group has shed another 18,000 jobs since the end of March as part of an ongoing cost‑cuttin...
EconomyPoundland Administration: Gordon Brothers Seek Buyer to Protect Jobs
By Salma El-Sakka The future of discount retailer Poundland remains uncertain after its parent company Gordon ...
EconomyBank of England Poised to Raise Rates to 4% as Pound Hits Post-Brexit High
By Islam El-Sakka The Bank of England is widely expected to raise interest rates for the first time in more th...
EconomyHS2 land seizure: Three-acre meadow costs taxpayers £10.6m
By Sohaib Shams A three-acre meadow in Buckinghamshire seized for the HS2 high-speed rail project has cost Bri...
EconomyAustralia's Oldest Retailer David Jones Enters Administration
By Karim Hammam Australia's oldest retailer, David Jones, has entered voluntary administration after 188 years...
EconomyEarly Black Friday 2026 Deals Launch Across UK Retailers
By Islam El-Sakka Black Friday 2026 falls on 27 November, but major UK retailers have already launched early s...
EconomySony Profit Surges 44% on Spider-Man Movie, PlayStation Sales
By Islam El-Sakka Japanese electronics and entertainment giant Sony Group Corp. reported a 44% jump in quarter...
EconomyAsos reveals temporary sales hit from cyber attack
By Karim Hammam Online fashion retailer Asos has disclosed that a cyber attack on October 6 knocked group sale...
EconomyPoundland owners warn chain 'challenged' as administration looms
By Karim Hammam The US owners of Poundland, Gordon Brothers, said on Thursday that the high-street chain remai...
EconomySecond rescue bid for Poundland as retailer faces collapse
By Salma El-Sakka A second buyer has entered the race to save discount retailer Poundland as the chain teeters...
EconomyPound hits highest level since Brexit as rates set to rise
By Salma El-Sakka The British pound has risen to its highest level since the Brexit referendum, driven by expe...
EconomyPoundland Owner Warns Chain Still Vulnerable After Government Talks
By Salma El-Sakka Poundland's US owner Gordon Brothers said the retailer remains "challenged and vulnerable" f...
EconomyNext Reports 8.1% Sales Growth as International Surge Offsets UK Slowdown
By Basant El-Faramawy British fashion retailer Next said total full-price sales rose 8.1% in the 13 weeks to O...
EconomyPound Hits Highest Level Since Brexit Ahead of Rate Hike
By Fatma Younis The British pound has reached its highest value against a basket of major currencies since the...
EconomyCommunity Colleges Expand Semiconductor Training Amid Labor Shortage
By Basant El-Faramawy Community colleges across the United States are rapidly expanding short-term semiconduct...
EconomyAsos Reveals Temporary Sales Hit From Cyber Attack
By Islam El-Sakka Online fashion retailer Asos has disclosed that a cyber attack early last month temporarily ...
EconomyUK Businesses Face Staggering Costs from Brexit Red Tape
By Salma El-Sakka UK companies are resorting to desperate measures to cope with the administrative burden crea...
EconomyNintendo Reports Higher Profit, Lower Sales in First Half
By Islam El-Sakka Japanese video game company Nintendo reported an 11% increase in net profit for the April-Se...
EconomyPoundland owners warn chain 'challenged and vulnerable' after minister talks
By Fatma Younis The US owners of Poundland have described the high street chain as "challenged and vulnerable"...
EconomyUK taxpayers face £10.6m HS2 compensation payout for seized meadow
By Ahmed Abdelsalam A UK tribunal has awarded £10.6m in compensation to a landowner after a relief road built ...
EconomyDemocrats Won on Affordability but Face Legislative Hurdles
By Salma El-Sakka Democrats secured control of Congress campaigning on affordability, yet translating that man...
EconomyBank of England set to raise rates as Iran war fuels inflation
By Sohaib Shams The Bank of England is expected to raise interest rates on Thursday, November 5, 2026, for the...
EconomyBank of England Set to Hike Rates to 4% Amid Rising Inflation
By Islam El-Sakka Bank of England expected to raise interest rates to 4% on Thursday, the first hike in over t...
EconomyCVS Health to Split into Two Separate Businesses
By Fatma Younis CVS Health announced plans to split into two separate publicly traded companies, separating it...
EconomyDavid Jones Collapses After 188 Years, Enters Voluntary Administration
By Karim Hammam Australia's oldest department store chain David Jones has gone into voluntary administration a...
EconomyJetBlue Hikes Checked Bag Fees for Second Time This Year
By Karim Hammam JetBlue Airways has increased checked baggage fees for the second time in 2026, citing persist...
EconomyBank of England to raise rates for first time in three years
By Islam El-Sakka Policymakers at the Bank of England are expected to raise interest rates on Thursday, markin...
EconomyJetBlue Raises Baggage Fees Again as Jet Fuel Prices Surge
By Basant El-Faramawy JetBlue has increased checked baggage fees for the second time this year, making it more...
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EconomyDavid Jones Enters Administration, Thousands of Jobs at Risk
By Karim Hammam Australia's premier upmarket department store David Jones has collapsed into voluntary adminis...
EconomyUK businesses face £7.7bn Brexit red tape bill in four years
By Ahmed Abdelsalam UK businesses have incurred a £7.7bn cost from Brexit-related red tape over four years, ac...
EconomyOutback Steakhouse Rescues Franchises After Owner Bankruptcy
By Fatma Younis Outback Steakhouse is stepping in to save dozens of its franchise locations after a franchise ...
EconomyPound Hits Highest Level Since Brexit Referendum Ahead of Rate Decision
By Salma El-Sakka The British pound has risen to its highest overall level since the June 2016 Brexit referend...
EconomyOutback Franchisee Bankruptcy Leads to Parent Company Acquisition
By Islam El-Sakka Outback Steakhouse's largest U.S. franchisee, Out West Restaurant Group (also known as Cerca...
EconomyTrump Wealth Declines After Democratic Midterm Victory
By Sohaib Shams Donald Trump's investment assets have fallen sharply after Democrats defeated Republicans in t...
EconomyUK air traffic control outage cost economy £33m, report finds
By Basant El-Faramawy A new report has found that the air traffic control outage in September cost the UK econ...
EconomyUK Culture Secretary Intervenes in Sky's £1.6bn ITV Takeover
By Karim Hammam UK Culture Secretary Lisa Nandy has formally intervened in Sky’s £1.6 billion acquisition of I...
EconomyUK Air Traffic Control Outage Cost Economy £33 Million, Report Finds
By Basant El-Faramawy A failure of air traffic control systems in September cost the UK economy an estimated £...
EconomyUK-EU deal could cut food trade red tape, add £5.1bn to economy
By Fatma Younis The UK and EU are negotiating a new post-Brexit agreement that could eliminate checks on food ...
EconomyBurnham calls for Poundland executives to work with government to save stores
By Salma El-Sakka Prime Minister Andy Burnham has urged Poundland's US-based owners, Gordon Brothers, to engag...
EconomyM&S Chief Criticizes Labour Tax Increases as Costs Surge
By Ahmed Abdelsalam Marks & Spencer chief executive Stuart Machin has accused the Labour government of orchest...
EconomyUK PM Burnham urges Poundland owners to save stores and jobs
By Sohaib Shams Prime Minister Andy Burnham has called on Poundland’s US-based owners, Gordon Brothers, to wor...
EconomyPoundland suppliers warn US owner against maximizing returns at their expense
By Ahmed Abdelsalam Poundland suppliers facing millions of pounds in losses if the budget retailer collapses h...
EconomyCVS Health to Split Pharmacy Chain from Insurance Business
By Fatma Younis CVS Health, the largest U.S. healthcare conglomerate valued at $117 billion, announced plans t...
EconomyUK Orders Public Interest Probe into Sky-ITV Merger
By Fatma Younis UK Culture Secretary Lisa Nandy announced Wednesday she will intervene in the planned £1.6 bil...
EconomyM&S CEO calls Labour Budget 'biggest tax grab in history'
By Fatma Younis Marks & Spencer chief executive Stuart Machin has accused the Labour government of delivering ...
EconomyAndy Burnham to Unveil EU Trade Deal Aimed at Boosting UK Economy
By Salma El-Sakka Greater Manchester Mayor Andy Burnham is set to unveil a new trade deal with the European Un...
EconomyMcDonald's US Sales Drop for First Time Since 2025 Amid Cost-of-Living Pressures
By Islam El-Sakka McDonald's U.S. same-store sales fell 0.2 percent in the third quarter of 2026, marking the ...