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UK Edition
9th May 2025
 
THE HOT STORY
Trade deal to save thousands of British jobs, Starmer says
Sir Keir Starmer has said the UK's "first-of-a-kind" trade deal with the US will save thousands of British jobs, boost local business and protect industry. Sir Keir said "this is a really fantastic, historic day" that will "boost trade between and across our countries." Business Secretary Jonathan Reynolds said: "It is a brilliant deal because without the breakthrough on these sectoral tariffs that we've been able to announce today, thousands of people stood to lose their jobs very soon in the UK, and the economic damage to the UK would have been very significant from there." The deal will see tariffs on British car exports to the US fall from 27.5% to 10%, for the first 100,000 vehicles per year; the 25% tariffs on steel and aluminium will be removed and the UK’s pharmaceutical industry has been promised "preferential treatment." British beef farmers will be allowed access to the US market and vice versa, with no reduction in food standards in the UK.
REGULATION
CFO banned after Thurrock Council collapse
The Financial Reporting Council (FRC) has imposed a five-year ban on Sean Robert Clark, the former chief financial officer of Thurrock Council, marking a historic first for local authority finance chiefs. The council went bankrupt in 2022 after accruing £1.5bn in debt due to failed commercial investments. The FRC condemned Clark's actions, saying its reprimand was the most severe possible. "The role of a local authority chief financial officer is integral in ensuring prudent management of public funds," Claudia Mortimore, the FRC’s deputy executive counsel, said. "Mr Clark held a fiduciary responsibility towards local taxpayers and it was incumbent on him to make sure that the risks arising from Thurrock council’s financial strategy were identified, managed and reported to the council’s leadership and members. He fell significantly short of the required standards in a number of respects." 
WORKPLACE
BlackRock demands full office return
Investment management giant BlackRock has mandated that its approximately 1,000 senior managers return to the office five days a week. The directive follows a previous requirement for all staff to work in the office at least four days a week. Larry Fink, BlackRock's co-founder and chairman, has previously voiced concerns about maintaining company culture, saying: "Cultures were not meant to be done in a remote fashion." The shift back to in-office work reflects a broader trend among major companies, including JP Morgan and Goldman Sachs, as the hiring market tightens.
TRAINING & DEVELOPMENT
Train British workers or lose out
The UK Government is set to introduce new immigration rules requiring firms to train British workers before hiring from abroad. According to the Times, the forthcoming immigration white paper will mandate that employers provide training opportunities for local staff, particularly in sectors like engineering and IT. Home secretary Yvette Cooper is cautious about any reforms that might increase net migration, which reached 728,000 last year. The report also highlights that immigrants will need to demonstrate a higher standard of English proficiency. The changes aim to reduce reliance on foreign labour while addressing the challenges of illegal migration and asylum seeker accommodation costs.
WORKFORCE
Lecturer pay offer fails to meet parity
The University and College Union (UCU) has expressed dissatisfaction with a 5.5% pay offer for Further Education (FE) lecturers in Northern Ireland, saying it "falls short" of achieving pay parity with teachers. Economy Minister Caoimhe Archibald described the offer as "a further step towards parity," emphasising the importance of FE in the local economy.
Scottish Widows says 15.3 million people at risk of retirement poverty
According to the Retirement Report 2025 by Scottish Widows, the risk of retirement poverty has increased, with approximately 15.3m individuals now at risk. The report, which surveyed 5,167 adults, revealed that rising living costs have left two in five (39%) people off track for achieving a minimum retirement living standard.
STRATEGY
Job cuts loom at Legal & General
Legal & General is facing potential job losses, with around 70 positions at risk in its asset management division. The restructuring follows António Simões' recent merger of Legal & General Investment Management and Legal & General Capital, which is aimed at simplifying operations and enhancing returns for investors. 
INTERNATIONAL
Employers are keen on 'America's largest untapped talent pool'
Neurodivergent workers could offer an important source of talent for employers looking to hire, with one researcher estimating that as many as one in five people is neurodivergent. Some big companies, including Bank of America, Dell, Microsoft, and SAP, have programs that are designed to attract neurodivergent workers, a group that has been described as "America's largest untapped talent pool" by the American Enterprise Institute think tank. Business Insider profiles Bank of America employee Alan Price, who identifies as neurodivergent and is part of a group of workers which handles a range of back-office duties for the lender including keying in hand-written credit card applications and preparing mailers.
Meta content moderator cuts over 2,000 jobs in Spain
Telus International, the Canadian tech firm which Meta has employed since 2018 to moderate content on its social media networks Facebook and Instagram, will cut over 2,000 jobs in Barcelona, according to Spanish union CCOO. Telus said during a Monday meeting that it had terminated the contracts "of all workers who were performing content moderation tasks" for Meta, affecting 2,059 people, CCOO said, adding that the redundancy plan was decided after Meta cancelled its contract with Telus. The union said it had signed a preliminary agreement that will grant "the highest possible legal compensation" for affected workers affected.
Israeli teachers 'must stop taking sick days to protest salary cuts'
The Tel Aviv Labor Court has ordered teachers who have been protesting salary cuts by taking sick days to return to work. In its ruling, the court said individual or non-union groups of teachers cannot legally strike against a Finance Ministry decision to cut public sector salaries by 3.3% amid the war in Gaza, and must stop taking “non-authentic” sick days. The ruling did not comment on a ministry order to withhold pay from teachers who took sick days.
OTHER
Teens revise for 14 minutes before reaching for phones
According to a survey conducted by Mander Portman Woodward and Perspectus Global, teenagers can only concentrate on revision for an average of 14 minutes before reaching for their phones. The survey, which involved 1,000 young people aged 15 to 18, revealed that 40% of respondents felt constantly distracted by social media platforms like Snapchat and TikTok. Parents expressed concern, with nearly 90% believing their children were not adequately preparing for exams, leading to frequent family arguments. Many teenagers admitted to procrastinating due to various excuses, with 50% struggling to absorb information and 25% disliking schoolwork outside of class. This week, Enfield Council became the latest to announce that phones will be banned in all primary schools and for new secondary school students starting this September. Several councils are also encouraging parents to commit to not purchasing phones for their children until they turn 14 and to prevent them from using social media until they reach 16.
 


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