UK government could take stake in Sizewell nuclear power station

  • 16 September 2020
  • From the section Business
Wylfa Nuclear Power Station at Cemaes Bay, Anglesey, North Wales. Image copyright Getty Images
Image caption The new Wylfa power station would have been built next to the old power plant on Anglesey

The collapse of a project to build a new nuclear power station at Wylfa, Wales may accelerate government approval of a new station at Sizewell, government and industry sources say.

The government is disappointed after Japan's Hitachi pulled out but insists it is committed to new nuclear as way to decarbonise the UK power supply.

It is looking at options to replace China's CGN as an investor in Sizewell.

That could include the government taking a stake in the plant.

Of six sites originally identified over a decade ago for replacements for the UK's ageing nuclear fleet, only one is under construction, three have been abandoned and two are waiting approval.

Read full article UK government could take stake in Sizewell nuclear power station

ARM: Can 'crown jewel' of UK technology be protected?

  • 14 September 2020
  • From the section Business
Arm logo on a mobile Image copyright Getty Images

The UK government is "looking at options" to protect and ensure future investment in Cambridge-based ARM Holdings, which is being bought by US tech giant Nvidia from Japan's Softbank.

This is a much more relaxed attitude than the government took when Softbank bought the world-leading chip designer in July 2016. At that time, Softbank announced it had agreed to legally binding commitments to increase investment, headcount and preserve its headquarters in the UK.

Read full article ARM: Can 'crown jewel' of UK technology be protected?

Brexit: The multi-billion pound state aid gamble

  • 8 September 2020
  • From the section Business
Two men's hands across a negotiating table, in front of UK and EU flags
Image caption The UK and the EU have competing visions on state aid

Why is the UK seemingly prepared to sacrifice a trade deal with the EU on the altar of state aid?

The UK government spends half as much - 0.38% of GDP - on supporting businesses as France, at 0.76% and roughly a quarter as much as Germany's 1.51%.

Read full article Brexit: The multi-billion pound state aid gamble

McDonald's Steve Easterbrook: New approach to sackings?

  • 11 August 2020
  • From the section Business
Steve Easterbrook, CEO McDonald, poses with Ronald McDonald during the new McDonald's Flagship Restaurant re-opening at Frankfurt International Airport, Terminal 2, on March 30, 2015 in Frankfurt am Main, Germany. ( Image copyright Reuters
Image caption Mr Easterbrook the month he became head of McDonald's in 2015

Steve Easterbrook, the British former chief executive of McDonald's, is being sued by the fast food company.

The chain is suing to recover his pay-off, reportedly worth $40m (£35m) after new allegations of sexual misconduct have led the company to believe he withheld information that could have prevented him collecting it.

Read full article McDonald's Steve Easterbrook: New approach to sackings?

Factory takeover says a lot about government strategy

  • 23 July 2020
  • From the section Business
Benchmark vaccines Image copyright Google
Image caption The plan is to upgrade the existing facility at Braintree into a state-of-the-art centre.

The Department for Business has announced it is buying a former fish vaccine plant in Essex for £16m - and spending tens of millions more to upgrade it.

The government says the acquisition will give it a re-purposed vaccine production facility on UK soil and will lay down a marker that it intends to make the UK more self-sufficient in critical medicine manufacturing.

Read full article Factory takeover says a lot about government strategy

Natwest boss Alison Rose warns of 'tough times ahead'

  • 22 July 2020
  • From the section Business
Media playback is unsupported on your device
Media caption'We want to support businesses'

On the very day that the name RBS was consigned to the annals of financial history, the boss of the UK's biggest business lender warned that while the painful memories of the last great financial crisis had faded, the true extent of a new and graver threat to thousands of businesses was emerging.

Alison Rose, the chief executive of the renamed Natwest Group said: "There are clearly tough times ahead. Not all businesses will survive and there are going to be losses".

Read full article Natwest boss Alison Rose warns of 'tough times ahead'

Brexit: Get ready because this time it’s for real

  • 13 July 2020
  • From the section Business
Michael Gove speaking in Commons
Image caption Michael Gove made his statement to the Commons on Monday

The government has warned that the outcome of ongoing Brexit negotiations will not alter significant changes to trade with EU that business needs to prepare for.

"Customs declarations are complicated": That's according to page 8 of a 208-page government guide to importing and exporting after the transition period ends at the end of this year.

Read full article Brexit: Get ready because this time it’s for real

Could Huawei be out of the UK by 2024?

  • 13 July 2020
  • From the section Business
Huawei logo on a smartphone Image copyright Getty Images

Huawei equipment should be stripped out of the UK's new communications networks by the time of the next election, according to the leader of a group of rebel MPs who are unhappy at government plans to allow the Chinese telecoms group a limited role in the UK's 5G infrastructure.

Tom Tugenhadt, chair of the China Research Group (CRG), told the BBC: "We recognise the need for businesses to deliver and roll out better and faster communication as fast as possible but the government must be able to deliver a safe network by the next election."

Read full article Could Huawei be out of the UK by 2024?

Youth, youth, youth is the new build, build, build

A young hotel doorman welcomes guests to a hotel Image copyright Getty Images

The government is keenly aware that younger workers are more exposed to the devastating economic impact of the coronavirus pandemic.

In some of the hardest hit sectors - retail, hospitality and leisure, a third of the workforce is aged between 16 and 24.

Read full article Youth, youth, youth is the new build, build, build

The struggle to contain Covid-19's economic hit

A man in a face mask walks past closed shops in Cardiff Image copyright Getty Images

The worldwide economic impact of the coronavirus has been seismic and the job losses are starting to crash on the shores of the UK with increasing frequency and severity.

The 1,700 job losses at Airbus had a grim inevitability to them, given the destruction of demand in the aviation industry.

Read full article The struggle to contain Covid-19's economic hit