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MPs urge urgent AI upskilling for civil servants. A new report highlights digital skill gaps in government leading to inefficiencies. Upskilling is essential for effective AI use and improved public services, warns the Public Accounts Committee.
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Sixty per cent of security leaders see supply chain risks as unmanageable. A new IO study reveals that confidence in cybersecurity response far exceeds real-world resilience, as 61 per cent of organisations suffered third-party breaches in the past year, driving financial losses and customer disruption across the board.
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A new report quantifies Jaguar Land Rover’s cyber losses. The attack’s £1.9 billion economic cost reflects six weeks of halted production and supply-chain disruption across more than 5,000 UK businesses, prompting emergency government support and redefining the financial scale of industrial cyber risk in Britain.
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JCB CEO warns against harmful tax increases in upcoming Budget. Graeme Macdonald expresses concern over potential tax hikes affecting inward investment and British business, joining growing number of business figures voicing concern ahead of November’s budget.
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UK inflation held at 3.8% for the third straight month. Annual consumer price inflation remained unchanged in September, according to the Office for National Statistics — extending a run of above-target readings that continues to test monetary and fiscal policy alike.
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Morrisons to close 103 UK outlets to streamline operations. Morrisons will close cafés, florists, pharmacies, and convenience stores to optimise operations amid rising costs and focus on core growth areas. Profit recovery noted, but challenges persist with energy, staffing, and regulatory expenses.
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Allica Bank acquires fintech Kriya to boost SME lending capacity. The acquisition, announced on Wednesday, is Allica’s third, following its purchase of Allied Irish Bank’s SME portfolio and Tuscan Capital. Allica aims for £1bn in working capital finance.
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Labour urged to rethink youth wage policy amid rising Neet numbers. A report warns nearly one million young people are out of education, employment or training, as Labour considers scrapping lower minimum wage rates for young workers.
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Waymo plans to launch self-driving service in London by 2026. The company will introduce its autonomous ride-hailing service using Jaguar Land Rover’s electric I-Pace vehicles, while collaborating with UK regulators to secure necessary approvals.
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The top 1% of UK taxpayers paid a third of taxes. HMRC data shows the top 500,000 taxpayers paid £93.8 billion in 2023/24, comprising 33% of income and capital gains tax receipts. Wealth Club warns against deterring high net worth individuals.