Labour’s Rachel Reeves rules out increasing income tax or NI

On Saturday, independent think tank The Institute of Fiscal Studies issued a stark warning about the challenges awaiting the next government, saying the state of public finances hung over the election campaign “like a dark cloud”. It warned that more tax rises or cuts to public services could lie ahead, whoever won on 4 July. […]

Finances a ‘dark cloud’ hanging over election campaign, says IFS

A leading think tank has issued a stark warning about the financial challenges awaiting the next government. The Institute for Fiscal Studies (IFS) says the state of public finances hangs over the election campaign “like a dark cloud”. It warns more tax rises or cuts to public services could lie ahead. It calls for an […]

5 key moments from Post Office scandal inquiry

Key moments from Paula Vennells’ three days of questioning at Post Office inquiry Former Post Office chief executive Paula Vennells has broken her almost decade-long silence on the Horizon IT scandal. She was quizzed over the course of three days on how things unfolded during her time at the head of the organisation by both […]

Coventry Building Society buys Co-op Bank for £780m

1 hour ago Lee Bottomley,BBC News, West Midlands PA Media Coventry Building Society has bought Co-op Bank in a deal worth £780m Coventry Building Society has finalised its £780m deal to buy the Co-operative Bank, but will not be giving its members a vote. The purchase is subject to approval from financial regulators, but is […]

Ex-Post Office Paula Vennells accused of being in ‘la-la land’

Former Post Office boss Paula Vennells has been accused of living in “la-la land” by a lawyer representing sub-postmasters. Speaking at the inquiry into the Horizon scandal, Edward Henry grilled Ms Vennells on how much she knew about remote access to sub-postmasters’ computers. He also pressed Ms Vennells on how fallout from the scandal could […]

Post Office inquiry live: Convictions to be quashed as Paula Vennells gives evidence

Post Office inquiry live: Convictions to be quashed as Paula Vennells gives evidence – BBC News BreakingBreaking news Close breaking news Summary Former Post Office boss Paula Vennells will give her final day of evidence at the inquiry into the Horizon IT scandal It comes a day after a bill quashing convictions from the Horizon […]

Shop sales slump in April hit by heavy rain

Retail sales fell by much more than expected in April as heavy rain kept shoppers at home. Sales volumes fell by 2.3% from the month before. Analysts had expected a drop of about 0.5%. Clothing retailers, sports equipment, games and toys stores, and furniture stores all did particularly badly as poor weather reduced footfall, the […]

hundreds of convictions to be quashed in new law

Hundreds of sub-postmasters found guilty as part of the Post Office Horizon scandal are to have their names cleared, after the law quashing their convictions was approved by Parliament. It was one of the final bills to pass before MPs break up ahead of the general election in July. The law applies to England, Wales […]

Google ties up with Foxconn to make Pixel phones in India

Tech giant Google will soon begin making its Pixel smartphones in India, sources aware of the development have told the BBC. Google is set to manufacture the phones at an existing Foxconn facility in the southern state of Tamil Nadu. The firm is also set to independently manufacture drones in the state. India has emerged […]

Elon Musk says he opposes US tariffs on Chinese electric vehicles

Tesla boss Elon Musk says he opposes US tariffs on Chinese electric vehicles (EVs), just days after President Joe Biden quadrupled levies on EVs imported from China. “Neither Tesla nor I asked for these tariffs”, the multi-billionaire told a technology conference in Paris via video link. Mr Musk’s comments are at odds with a warning […]