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UK Edition
24th April 2026
 
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THE HOT STORY

More unemployed Britons not looking for work

The proportion of people who are unemployed and not looking for a job increased to 21% in the three months to February, up from 20.7%. Job vacancies fell to 711,000, the lowest in nearly five years, while payrolled employees decreased by 11,000 in March. The Office for National Statistics (ONS) noted that these figures predate the Iran war, which may further strain the job market. The figures serve as a reminder that the UK jobs market going into the current energy crisis is in a fragile state, says James Smith, UK economist at ING. Economists predict that the Bank of England will likely maintain interest rates at 3.75% amid these challenges.
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HIRING

Sunak: Scrap NICs to support employment

Rishi Sunak, former Tory Prime Minister and now an adviser to AI firm Anthropic and Microsoft, has proposed eliminating National Insurance to encourage hiring amid AI's impact on jobs. He acknowledged graduates' concerns about job availability in sectors like law and accountancy. Sunak suggested gradually replacing National Insurance with taxes on corporate profits, which could increase due to AI efficiencies. He also highlighted the UK's potential as a leader in AI productivity, citing significant investments in the tech sector.
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WORKFORCE

Reform to scrap ‘gold-plated’ pensions for public sector workers

The Telegraph reports that Reform UK plans to abolish final salary pension schemes for public sector employees, replacing the schemes with less generous defined contribution schemes more common in the private sector. While the party has previously set out plans to close defined benefit schemes in local government to new entrants, it has not previously suggested it would expand this to cover all new public sector workers, the paper notes. The Policy Exchange think tank has previously estimated that closing public sector defined benefit schemes to new members would initially increase costs by £1.1bn a year, rising to £3.4bn after six years, but with annual savings of £6.1bn achieved after 20 years, and almost £40bn after 50 years.

Londoners face record working hours

London's workforce is facing unprecedented challenges, with average working hours reaching a record high of 34 hours per week, according to the Office for National Statistics. Full-time workers average 37.8 hours, while unemployment has surged to 7.4%, the highest in the UK. Women are particularly affected, with their unemployment rate rising to 8%. Luke Taylor, Liberal Democrat London spokesman, argued: "Londoners shouldn't have to work record hours just to stay afloat." The ongoing cost-of-living crisis and external factors like inflation and geopolitical tensions are exacerbating the situation.

Nestle to cut 450 UK jobs

Nestle plans to eliminate 450 jobs at its UK sites, according to the GMB union. The cuts will primarily affect the York and Gatwick locations, but other factories may also be impacted. A Nestle spokesperson confirmed the company aims to reduce its global workforce by 16,000 roles. Charlotte Brumpton-Childs, GMB National Secretary, said: "These job cuts will rip the heart out of communities." Nestle's York factory employs 2,000 people and produces popular confectionery brands. The company will cut 180 roles in France, Reuters reports.

Denby Pottery shuts down production

Denby Pottery has ceased manufacturing, resulting in 49 redundancies, according to administrators FRP Advisory. Established in 1809, the firm struggled with rising energy and labour costs, leading to its appointment of administrators on 31 March. Tony Wright, joint administrator, said: "This is another very difficult day for the skilled workers at Denby." Earlier this month, around 80 workers were laid off. Despite efforts, no buyer for the manufacturing operations was found. The company continues discussions regarding other business parts while supporting affected employees with redundancy claims.
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PRODUCTIVITY

AI spending drives workforce cuts

Meta and Microsoft are preparing large staff reductions while increasing spending on artificial intelligence infrastructure and talent. Meta will cut 10% of its workforce, about 8,000 roles, as it targets efficiency alongside capital expenditure of up to 135 billion dollars. Janelle Gale, Meta’s chief people officer, said the move would help “offset the other investments we’re making.” Microsoft will offer voluntary redundancy to about 8,750 eligible US staff, while also changing employee stock reward rules.

High earners race ahead with AI in workplaces

AI adoption is significantly higher among top earners, with over 60% of high-income workers using AI daily compared to just 16% of lower earners, according to an FT poll of 4,000 workers in the US and UK.
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REMUNERATION

Scotland's wages flatline for 17 years

Wages in Scotland have stagnated for 17 years, with average earnings £17,000 lower than expected growth since the 2008 financial crash. A report by Future Economy Scotland reveals that real median weekly earnings increased by only 2.4% since 2008. Co-director Laurie Macfarlane said: "The squeeze on earnings over the past 17 years is extraordinary." He pointed out that if wages had followed pre-crisis trends, workers would be £320 a week better off. Political leaders are calling for urgent action to address the cost of living crisis affecting Scottish families.
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DIVERSITY, EQUITY & INCLUSION

Half of EU banks bereft of female executives

The European Banking Authority (EBA) reports that nearly 46% of EU banks and investment firms lack women executive directors. Only 20% of executive directors are women, earning 17% less than men.
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LEGAL

McDonald's faces ongoing scrutiny over harassment

The Equality and Human Rights Commission (EHRC) continues to monitor McDonald's for sexual harassment issues. Dr Mary Ann-Stephenson, chair of the EHRC, stated that their legal agreement with McDonald's was extended due to ongoing concerns. Over 100 workers reported a toxic culture of harassment and bullying. Jessica Hunt from Leigh Day noted that the extension indicates unresolved issues. McDonald's UK and Ireland boss, Lauren Schultz, acknowledged past failures but emphasised efforts to improve workplace safety. She said: "A safe and respectful workplace is a non-negotiable in our restaurants."

Met chief backs sacked Morrisons manager

Metropolitan Police Commissioner Sir Mark Rowley has said he was "bewildered" by the dismissal of a Morrisons store manager who was sacked after confronting a shoplifter. Sean Egan, who had worked for the retailer for 29 years, was fired for breaching company policy. Speaking on Good Morning Britain, Sir Mark said: "Maybe there's something sensitive behind it that none of us know, I don't know. But on the surface, if a store manager feels able to intervene and can do that safely, we always want people to do that."

Lendinvest executive ousted amid scandal

Hugo Davies, former chief capital officer at Lendinvest, was reportedly dismissed in March following allegations of non-financial misconduct. A whistleblower's letter prompted the investigation by law firm Simmons & Simmons. Davies, who briefly served as interim chief financial officer, left without his equity in the firm. Lendinvest’s H2 pre-tax profit surged to £50m last year and new lending swelled 39% to £1.2bn.
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CORPORATE GOVERNANCE

BP leadership suffers defeat in shareholder climate vote

BP faced significant opposition from shareholders at its annual meeting, with only 47% supporting its proposals to reduce climate reporting requirements. The company sought to revoke previous resolutions from 2015 and 2019, claiming they were redundant due to mandatory disclosures. New chair Albert Manifold defended the exclusion of a resolution from activist investor Follow This, stating it was not submitted correctly. Mark van Baal, CEO of Follow This, remarked that the defeat indicated shareholders' refusal to let BP abandon its reporting commitments. More than 25% of shareholders backed a resolution on capital expenditure justification.

Dan Shapero is LinkedIn's new CEO

LinkedIn has named Daniel Shapero as ​its new CEO. Shapero, who joined LinkedIn in 2008 ⁠as a general manager ​for the LinkedIn Research Network, ​will replace Ryan Roslansky. “Dan has led sales, marketing, and product across the most important parts of this business,” Roslansky wrote in a LinkedIn post on Wednesday. “He knows our members, our customers, and carries the mission in a way that’s genuinely rare.” Roslansky will retain his position as executive vice president at LinkedIn parent Microsoft.
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CYBERSECURITY

UK's top cybersecurity chief warns against AI threats

Richard Horne, chief executive of the UK's National Cyber Security Centre, has warned that Britain should prepare for an increase in cyberattacks linked to hostile states. Speaking at the government's annual CYBERUK conference in Glasgow, Horne noted that the agency manages about four significant cyber incidents weekly, with many serious threats originating from nation states such as China, Iran, and Russia. He said: "Were we to be in, or near, a conflict situation, the UK would likely face hacktivist attacks at scale." Horne meanwhile told Sky News that AI models such as Mythos are "warning shots" for the UK about the danger of powerful AI. He said he didn't consider AI a national security threat at present, as new models were "not finding new attacks, they're just exposing more security vulnerabilities."
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INTERNATIONAL

US Labor Department proposes rules on contract and franchise worker pay

The US Department of Labor has announced a proposed rule that would narrow the circumstances in which a business can be considered the "joint employer" of another company's workers under the federal law requiring a minimum wage and ​overtime pay, in a move that Reuters says will make it more difficult to hold companies liable when their contractors or franchisees ‌violate federal wage laws. Acting Labor ⁠Secretary Keith Sonderling said the proposal would make it easier for employers ​to comply with the law, and would ultimately be to the benefit of workers. "A clear standard on joint employment would give businesses more ​confidence to invest in partnerships, help employees understand their rights, and make the department’s investigations more efficient," Sonderling said.

Four-week strike at Belgium's postal service

A strike at Belgium’s Bpost postal service is now in its fourth week. The strike began spontaneously at the end of March and has been ongoing since. Staff are opposed to the planned restructuring of parcel and mail delivery. Deliveries have largely stopped in Brussels and the service is operating at about 50% capacity in the French-speaking Wallonia region. Bpost has made a new offer to unions, which a union representative said was an improvement but was not certain to satisfy union members. Management hopes that final negotiations with the unions will lead to an agreement before April 30.

Indonesia passes law to protect domestic workers

Following 20 years of discussions, Indonesia's parliament has passed a law to protect the rights of domestic workers. The legislation, first introduced in 2004, aims to provide legal recognition to the 4.2 million domestic workers, predominantly women, who previously operated in an unregulated environment. Minister of Law Supratman Andi Agtas said: "The enactment aims to provide legal certainty for both domestic workers and employers." The law includes provisions for vocational training and prohibits child labour. Jala PRT coordinator Lita Anggraini called it a "historic" moment but noted that further education for employers is necessary.
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OTHER

Moderna's bird flu vaccine enters late-stage trials in US and UK

Moderna has started a late-stage study of its experimental bird flu vaccine, mRNA-1018, in the US and the UK. This marks the first late-stage trial for a pandemic bird flu vaccine using mRNA technology. The study will involve around 4,000 healthy adults aged 18 and older. Supported by a $54m investment from the Coalition for Epidemic Preparedness Innovations, Moderna said it aims to enhance pandemic preparedness. CEO Stephane Bancel observed that bird flu remains a significant threat, and the trial is a crucial step in addressing future outbreaks.
 
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