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Reform UK’s Robert Jenrick has urged PM Andy Burnham to rule out future tax rises to fund his plans to fix adult social care in England.Burnham has said he wants to look at existing budgets before considering tax rises but he has not ruled them out, adding that “difficult decisions” lay ahead with funding options to be set out in a review being published next year.Jenrick said any reforms should be paid for by cutting foreign aid and benefit payments for migrants, urging the prime minister to rule out what he called a universal “death tax”.Burnham was health secretary in…
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General view of the Bank of England and the Bank of England’s Prudential Regulation Authority (PRA) in March 2025.Vuk Valcic | SOPA Images | Lightrocket | Getty ImagesThe Bank of England has left its key interest rate unchanged at 3.75%, in line with economists’ expectations. The U.K. central bank’s rates-setting Monetary Policy Committee voted by a 6-3 split to keep the benchmark rate, officially known as Bank Rate, unchanged. Committee members Megan Greene, Huw Pill and Catherine Mann were the dissenting voices, voting for a 25 basis point hike. The BoE said all members agreed that risks to the paths…
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Rolls-Royce is riding two of the biggest investment themes in global markets: the defense boom and the AI buildout. The British engineering group on Thursday hiked its full-year profit and cash flow guidance after strong earnings for the first half of the year, benefiting from robust demand across its civil aerospace, defense and power systems businesses.The FTSE 100 company posted underlying operating profit of £2.5 billion ($3.3 billion) for the first six months of the year, up 46% from a year earlier, while revenue rose over 24% to £11.3 billion. Rolls-Royce said it now expects full-year underlying operating profit of between…
IOWA — Farmer Aaron Lehman’s health insurance premiums have more than doubled since the start of the year, after Congress decided not to extend federal subsidies after they ended. As the Iran war drags on, the cost of diesel, fertilizer and other inputs he relies on to run his Polk City farm are up. And crop prices have been concerningly low. Lehman grows soybeans, corn, oats and hay on the land his family has worked for five generations. The Lehmans and other Iowa farmers have endured difficult times, but 2026 — with all the volatility around trade and foreign wars…
Stay informed with free updatesSimply sign up to the Eurozone economy myFT Digest — delivered directly to your inbox.The Eurozone economy grew 0.4 per cent in the second quarter, surpassing expectations, despite continued volatility in energy markets triggered by the US-Iran war.The figure was above the 0.2 per cent growth projected by economists in a Reuters poll. It marked an improvement on the upwardly revised figure of zero growth in the first three months of the year.The outcome was “absolutely remarkable” given the geopolitical uncertainty and elevated energy prices, said Karsten Junius, chief economist at Bank J Safra Sarasin.The US…
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For qubits, the traps are far smaller and serve to hold a single electron in place. Critically, they can be manufactured; with the right wiring, electromagnetic interactions can trap a single electron in a small patch of silicon. Once trapped, the electron’s spin, which can be up, down, or a superposition of the two, can be used as a qubit. While this technology can scale easily—we’re very good at putting wiring into silicon at scale—electron spins are hard to keep stable and are typically controlled via microwaves, requiring a separate control system. But “typically” doesn’t mean “always,” and HRL is…
More than one million 16-25-year-olds are not in education, employment or training – the highest level in more than 12 years, official figures show.A major review by former minister Alan Milburn found job and career opportunities for young people are “not growing, they’re shrinking” with one in six set to be out of work, education or training in five years unless action is taken.”We are at risk of a lost generation” with young adults facing a “perfect storm” of challenges, Milburn warned in May.Burnham also told the podcast that companies who provide six-week work placements for teenagers could be prioritised…