Economy

Major UK Investors Push Retail Giants to Pay ‘Real Living Wage’

March 27, 2025

Major UK Investors Push Retail Giants to Pay ‘Real Living Wage’

Major investors including Axa and Scottish Widows are co-filing shareholder resolutions urging retailers like Next, Marks & Spencer, and JD Sports to ensure that their workers receive a “real living wage” at least £12.60 an hour outside London and £13.85 in London rather than just the statutory minimum wage.

Starline: Ambitious 20,000km Rail Plan to Connect Europe

March 27, 2025

Min

Starline: Ambitious 20,000km Rail Plan to Connect Europe

A bold new high-speed rail network, dubbed “Starline,” is set to connect 39 stations across Europe over 20,000km of track. Proposed by the Copenhagen-based think tank 21st Europe, the network will link the UK with destinations including Ukraine, Turkey, and Portugal, offering fast, sustainable travel and helping Europe meet its net-zero 2050 goals.

UK Government Approves £10bn Lower Thames Crossing Tunnel

March 26, 2025

Min

UK Government Approves £10bn Lower Thames Crossing Tunnel

The UK government has approved the £10bn Lower Thames Crossing tunnel project, which will connect Kent and Essex via a new road and tunnel. The development consent order has been granted after years of delay, and the project is expected to begin construction by 2026 or early 2027. Once completed, the crossing will serve as a vital strategic route to improve connectivity and unlock economic growth across southern England and the Midlands.

Türkiye and China Partner on AI in Healthcare and Agriculture

March 26, 2025

Min

Türkiye and China Partner on AI in Healthcare and Agriculture

Türkiye and China have announced a collaborative initiative to advance AI research in cancer treatment and magnetic resonance imaging (MRI), while also focusing on sustainable agricultural practices. The partnership between TÜBITAK and NSFC will fund joint projects, aiming to develop medical solutions like vaccines and antibodies, and improve AI applications in MRI. Additionally, the collaboration will address climate change and biodiversity loss to ensure food security. The partnership highlights an international effort to enhance technology and sustainability.

Eurozone Business Activity Grows at Fastest Pace in 7 Months

March 25, 2025

Min

Eurozone Business Activity Grows at Fastest Pace in 7 Months

Business activity in the eurozone improved slightly in March, with the composite PMI rising to 50.4 the highest level in seven months. Although growth remains modest, manufacturing output showed a notable rebound while services growth lagged, with mixed results across key economies like Germany, France, and the UK.

UK Plans to Slash Government Costs by 15% with 10,000 Civil Servant Cuts

March 24, 2025

Min

UK Plans to Slash Government Costs by 15% with 10,000 Civil Servant Cuts

Chancellor Rachel Reeves announced a plan to cut government operating costs by 15% over the next four years, which could result in 10,000 civil service job losses and annual savings of £2.2bn. These measures are part of a broader effort to tighten public finances amid sluggish economic growth and rising trade pressures, as Reeves prepares her Spring Statement.

500,000 Foreign Workers Required in Croatia by 2030, Experts Say

March 24, 2025

Min

500,000 Foreign Workers Required in Croatia by 2030, Experts Say

At a Croatian Chamber of Economy conference, officials warned that Croatia will face a shortage of 450,000 to 500,000 foreign workers by 2030 due to low natural population growth. They stressed the urgent need to adapt educational programs and implement policies for the integration of foreign labor to prevent societal division.

Netherlands Creates Fund to Attract Top Foreign Scientists

March 20, 2025

Min

Netherlands Creates Fund to Attract Top Foreign Scientists

The Netherlands is launching a fund to attract top international scientific talent, according to Education Minister Eppo Bruins. The initiative, designed to counter global talent shortages amid a changing geopolitical climate, aims to welcome scientists of all nationalities and should be operational as soon as possible. This comes as other European countries also intensify efforts to recruit research talent in a climate of reduced U.S. research funding.