Displaying items by tag: Business

Friday, 26 August 2022 10:20

Back-to-school costs

Parents are facing buying expensive school uniforms in time for the new academicl year. In 2020 the average cost of a uniform was £337 for secondary schools, £315 for primary schools. This year a quarter of parents will try to reuse old school items rather than buying new, according to Barclaycard research. One in five are donating old uniforms to others who cannot afford new ones. Demand for free school uniforms has rocketed recently. Although a new law protecting parents from unnecessary spending on branded items for school uniform costs will come into effect in September 2022, schools have until September 2023 to introduce change. Pray for schools quickly and thoroughly to review their uniform policies to make them more cost-effective sooner rather than later.

Published in British Isles
Friday, 05 August 2022 10:13

Illegal and legal business profits

Sanctioned Russian oligarchs from Putin's inner circle have exploited a UK secrecy loophole left open by the Government. They use a type of company which does not need to identify its real owners known as an English Limited Partnerships (ELP). ELPs are also linked to fraud, terrorism and money laundering. Since 2017 over 4,500 have been set up to dodge anti-money laundering laws which require the real owners to be disclosed. Pray for the UK Economic Crime Programme, police and government to make ELPs illegal. Meanwhile Shell Plc has given employees a ‘Special Recognition Award’, equivalent to 8% of their annual salary, after recording profits for a second consecutive quarter thanks to soaring oil and gas prices and legally strong refining margins. The one-time payment will be made to most of Shell’s 82,000 employees. Shell said the award was not a response to the rising cost of living. See

Published in British Isles
Friday, 22 July 2022 06:32

Scotland’s definition of women

SNP ministers are facing a new legal battle over the definition of women, after they were accused of flouting a court ruling stating that biological men cannot be counted as female. The campaign group For Women Scotland claimed Nicola Sturgeon’s administration was trying to ‘redefine women yet again’ by issuing transgender rules it says are ‘wholly incompatible’ with a landmark court victory, which it won only five months ago. The feminist organisation was backed by Scotland's top civil court in its claim that SNP legislation designed to increase the number of women on public boards was unlawful as it stated that anyone ‘living as a woman’, regardless of their biological sex, would count as female. However, the Scottish Government has issued new statutory guidelines which state transgender women should still be counted as female in the workplace quotas, so long as they hold a Gender Recognition Certificate (GRC). Trina Budge, a director at For Women Scotland, said, ‘The Government seems incapable of either abiding by a court order, or understanding that the definition of woman does not include any males.’

Published in British Isles

The Bank of England’s chief economist pledged to ‘deliver inflation back to its 2% target’ despite the challenges of rising food and energy costs and a fall in the pound’s value that has made both more expensive. The central bank’s single purpose at the moment is to bring down the rate of price growth - a clear hint that more interest rate rises are on the way. His comments follow an equally stark warning from a deputy governor of the Bank, who said its monetary policy committee (MPC) would ‘do whatever is necessary’ to prevent the rocketing cost of living from becoming a lasting inflation problem. The Bank has raised interest rates five times since December in response to soaring prices.

Published in British Isles
Thursday, 23 June 2022 23:39

Coal mine for Cumbria?

In April a deadline of 7 July was set for a decision on whether to go ahead with a new coal mine in Cumbria. The proposed mine would remove coking coal, which is used for the production of steel in the UK and Europe, from beneath the Irish Sea. Around 40% of this type of coal needed by the UK is imported from Russia. Meanwhile, West Cumbria is crying out for skilled, long-term, well-paid private-sector jobs. ‘Digging down to level up’ is often quoted; it is the idea that geography should not be destiny, and regional inequalities should be lessened. In light of the war in Ukraine, boosting energy security and reducing the UK's dependence on Russia need to be considered. The Government may also be reconsidering the commitment to net-zero-carbon emissions by 2050. Coal is widely seen as one of the dirtiest and most polluting energy sources. See also

Published in British Isles
Thursday, 09 June 2022 23:27

Working from home

UK workers are less keen to return to commuting than their European counterparts. Over a third of them still work from home. Hybrid working is the new normal. The new night for after work drinks is Wednesday, as many only visit the office on Tuesdays, Wednesday and Thursdays (sparking the acronym Twats). Boris Johnson told civil servants to ‘make sure everybody gets back to work’, but fewer than one in ten have returned to their desks five days a week. Some say staff are more productive in the office as it is harder to collaborate creatively with colleagues over video calls. Others say they get more done at home without distractions or gossiping, and there are big savings in money and time. Many say their work-life balance has improved, but research has found that working from home increases ‘burnout’ rates as people struggle to juggle their careers and family lives.

Published in British Isles

Two activists who successfully fought against mining on their ancestral lands have won an international environmental prize. Alex Lucitante, 29, and Alexandra Narváez, 32, led the Cofan indigenous community which used drones and camera traps to collect crucial evidence in securing a legal victory which resulted in 79,000 acres of rainforest being protected from gold mining. In 2017, they found out that the government had issued 20 mining licences, with 32 more waiting to be approved. After a legal battle which lasted almost a year, the community achieved a remarkable victory. A provincial court ruled that the authorities had failed to seek the consent of the Cofan, nullified both the existing and pending licences, and ordered that the mining activities be stopped.

Published in Worldwide

Rishi Sunak implemented a 5p per litre cut in fuel duty in March, but retailers are taking profits of 2p per litre more than before the cut. The RAC said it seems some of the cut is being swallowed up by increased profits. Tory MP Robert Halfon, who has campaigned for fuel duty cuts, demanded action from his party’s leadership, saying these companies are fleecing motorists; nobody else is doing well out of the war in Ukraine and the cost-of-living crisis. The chancellor’s 5p cut has not been reflected at the pumps: ‘Time and time again we see global prices go up and overnight they’re reflected in pump prices. When it’s the other way round, it takes much longer.'

Published in British Isles
Friday, 13 May 2022 09:40

Recession and windfall tax

The UK could be heading for a recession. The economy contracted by 0.1% in March, and higher prices are ‘really beginning to bite’, the Office for National Statistics said. People are spending less in shops and cutting down on car journeys; the impact of higher energy bills in April has also yet to be seen. Many price rises are just starting to hit households now. Last week the Bank of England forecast that inflation could reach more than 10% by the end of the year. It warned the UK faces a ‘sharp economic slowdown’. The chancellor has threatened to hit energy companies with a one-off ‘windfall’ tax if they don't invest enough in new projects. Opposition parties want to tax the soaring profits of oil and gas firms to help families grappling with rising bills. Treasury officials have been ordered to examine a potential tax, and Boris Johnson said the Government would have to look at the windfall proposal if not enough investment was made.

Published in British Isles

Energy giant Shell has reported its highest-ever quarterly profits (£7.3bn) as oil and gas prices surge around the world. But Shell said pulling out of Russian oil and gas due to Ukraine’s conflict had cost them £3.1bn. BP also reported a sharp rise in profit, and Norway's Equinor, which supplies a quarter of the UK's gas, also posted record earnings this quarter. Oil prices were already rising before the Ukraine war as economies started to recover from the Covid pandemic. The public is now asking what these companies will do with all their extra profits. The Government has so far ruled out a windfall tax.

Published in British Isles
Page 3 of 8