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UK Edition
27th March 2026
 
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THE HOT STORY

Co-op boss quits after 'toxic culture' claims

The Co-op has announced that chief executive Shirine Khoury-Haq will step down at the end of March. The BBC says the news comes weeks after it reported on claims of a "toxic culture" at the top of the food and services group. A letter sent to Co-op board members had complained of "fear and alienation" among even senior staff who felt scared to raise concerns about the direction of the business in front of the leadership team - claims which the Co-op said it didn't recognise at the time. The retailer yesterday revealed higher-than-expected financial impacts from a major cyber attack in April 2025 which forced the shutdown of systems, causing disruption across its 2,300 UK stores and contributing to a £285m hit to 2025 revenues and a £107m impact on profitability, alongside £21m of additional one-off costs. The group said the leadership change reflects the need for long-term direction as it executes a multi-year recovery and growth strategy. Board member Kate Allum has been appointed as interim CEO while a successor is sought.
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REMUNERATION

British Airways offers pilots financial incentive to cut fuel consumption

British Airways is offering its pilots a financial incentive to reduce their aircraft's fuel consumption. Pilots would be required to cut their jets' carbon dioxide emissions by 60,000 tons above 2025 levels to achieve a bonus that could equal 1% of their basic salary, according to a document seen by Bloomberg. The proposal is to be voted on by members of the British Airline Pilots’ Association at the end of April. “Flight crew decisions have a direct and measurable impact on fuel burn and emissions,” states a document sent to BA pilots in the union. “The incentive exists only to recognise and reward fuel efficient behaviours when, and only when, they are compatible with uncompromised safety and sound airmanship.”
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WORKFORCE

We need more plumbers and fewer lawyers in AI era, BlackRock boss says

BlackRock CEO Larry Fink has said people's perception of skilled trades must change. The boss of the world's largest asset manager observed that the average plumber had been portrayed on television as being overweight and having their pants hanging below their waistline, while investment bankers are idolised in drama series like Industry. "I think what we did [was] wrong," he said. "We really put judgment on so many jobs and so many people who probably should not have gone into banking or media or law, probably should have been a great worker with their hands, and we need to now rebalance that approach." He told the BBC that, in the US after World War Two, "we built the foundation of education, and we said to all the young people, go to college, go to college, go to college. And we probably overdid it." He added: "We need to balance that out, and we need to be proud that . . . a career can be just as strong in these fields of plumbing and electricians."
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TRAINING & DEVELOPMENT

Government announces 80 more Youth Hubs

Work and Pensions Secretary Pat McFadden has announced plans for a further 80 new Youth Hubs, which will bring together local authority services, employers, training providers, and Jobcentre Plus functions to support young people aged 16-24. Mr McFadden said the government is "delivering support in every region, connecting young people with employers, and meeting them where they are so they can move into work, as we reform the welfare state into a working state."
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ECONOMY

UK faces biggest hit to growth from Middle East war, OECD warns

Britain will have among the weakest economic growth in the developed world this year, according to the OECD, which downgraded its 2026 growth forecast to 0.7% from a previous prediction of 1.2% - the worst downgrade among OECD member nations. High energy prices will send inflation soaring to 4% this year, up from 3.4% last year and the second-highest rate in the G7. Due to the combination of weaker growth and higher inflation, the OECD expects the Bank of England to hold off raising interest rates this year. Commenting on the report, Chancellor Rachel Reeves said: "In an uncertain world we have the right economic plan. The decisions we have taken have put us in a better position to protect the country's finances and family finances from global instability."

Citizens Advice providing 'crisis support' every 30 seconds

Citizens Advice has said it is now providing "crisis support" to households every 30 seconds, even before council tax and other bills rise next month. The average debt reported by those it helps has risen by 12% year-on-year, to a record £9,500. The charity said many household budgets are already "beyond breaking point," with essential bills including council tax and utilities accounting for an average of 42% of arrears. Chief executive Dame Clare Moriarty said the figures reveal "the scale of the problem facing people - households are buckling under cost-of-living pressures, and too many are reaching crisis." She urged the government to deliver "help with rent costs, better-targeted support with energy bills, as well as measures to tackle record-breaking levels of debt."
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RISK

UK says Chinese wind turbine maker poses national security threat

The UK government has said Chinese turbine maker Ming Yang’s products pose a national security risk and the company's plans to open the UK's largest wind turbine manufacturing plant in the Highlands of Scotland have been blocked. Ming Yang had proposed to open the facility at Ardersier Port near Nairn. In a statement, the company said it was disappointed by the decision but would continue to "engage constructively" with the UK government. Trade Minister Sir Chris Bryant said the government had to be sure the investment in the port was "safe and secure." Bryant told the BBC's Radio Scotland Breakfast programme the UK had to be "clear eyed" about its relationship with China and challenge it on issues such as human rights.

Overseas donations to UK parties to be capped at £100,000

The government has announced a ban on all political donations made in cryptocurrencies and a cap of £100,000 a year from British citizens living abroad. Amendments to the Representation of the People Bill mean the new rules apply immediately. A review of foreign interference in British politics by former senior civil servant Philip Rycroft warned of a "willingness of foreign actors and private citizens" abroad to influence UK politics in pursuit of their own agenda. Steve Reed, the local government and housing secretary, announced the changes, saying: "I am not prepared to allow any window of opportunity in which malign actors based overseas can funnel dark money into our politics."
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INTERNATIONAL

Carney reprimands Air Canada head for English-only statement

Canadian Prime Minister Mark Carney has reprimanded Air Canada CEO Michael Rousseau for issuing a video statement in English only following a runway collision at LaGuardia Airport that killed two pilots. Air Canada, as a federal government-regulated entity, is subject to the Official Languages Act, and as such it is required to provide equal services in English and French. Quebec Premier Francois Legault said "if [Rousseau] still doesn't speak French, that's disrespectful to his French-speaking employees and customers" and "he should resign." All that Rousseau said in French when he provided an update on the situation in English was “bonjour” at the beginning and “merci” at the end.

VW in talks with Israel’s Iron Dome maker to shift from cars to missile defence

Volkswagen is in talks with Israel’s Rafael Advanced Defence Systems over a deal that would switch production at one of the German group’s factories from cars to missile defence. Hans Christoph Atzpodien, general manager of the German Federal Association of the Security and Defense Industry, has previously told Deutsche Welle that while the qualifications of car industry workers will often meet the requirements of defence companies, retraining and security clearance requirements may slow the process. "The timelines for issuing these authorisations are currently nowhere near fast enough to enable a rapid transition of the relevant personnel," he told DW last year.

Meta lays off 700 employees

Meta on Wednesday laid off around 700 employees in the Reality Labs unit, as well as some in recruiting, sales and Facebook, according to a person with knowledge of the company. “Teams across Meta regularly restructure or implement changes to ensure they’re in the best position to achieve their goals,” a Meta spokesman said. “Where possible, we are finding other opportunities for employees whose positions may be impacted.” The New York Times notes that less than 24 hours earlier, Meta has introduced a new stock option incentive programme for senior executives that could deliver payouts worth hundreds of millions of dollars if the company reaches a $9tn market capitalisation by 2031.

Revolut to shift 40% of its global workforce to India

London-headquartered fintech firm Revolut has said it plans to have around 40% of its global workforce based in India by the end of 2026 as ​it expands its India global capability centre. The company will fill 1,600 roles in its India centre through ​2026, taking its headcount in the country to 5,500 by the end of the year. Jonathan Beaney, Revolut's head of talent acquisition, described India as one of the "deepest and most dynamic ​talent pools in the world." He said: "Our India tech hub is central ​to our global scale . . . the technical calibre, ambition and excellence we see here ‌make ⁠India a natural long-term home for Revolut."
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OTHER

New guidelines limit screen time for under-fives

New government guidelines recommend that children under five should have a maximum of one hour of screen time daily, while children under two should not use screens alone. Parents are encouraged to engage in screen time together and partake in "screen swaps" for activities like reading. The guidance is based on evidence linking excessive solo screen use to negative impacts on children's sleep and physical activity. Research highlights the essential role of adult engagement in screen time for cognitive development. The guidance also indicates that fast-paced content may lead to stress responses in children.
 
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