Asda hits out at government for ‘killing confidence’ among consumers

Ryanair is discontinuing its frequent flyers members’ club after just eight months due to excessive exploitation of its benefits by customers. The airline reported that while 55,000 individuals signed up for the Prime membership, passengers benefited from discounts totaling over €6 million, surpassing the €4.4 million generated from the scheme.

JPMorgan Chase's CEO Jamie Dimon has approved plans for a new £3 billion tower in London, following assurances from a senior adviser to UK Prime Minister Keir Starmer regarding the government's pro-business stance. This decision aligns with the bank's strategy to expand its presence in the UK market.

UK energy bill payers will contribute £2 billion annually to EDF, the French government-owned company, for the construction of two nuclear power stations, Hinkley Point C and Sizewell C, as per government figures. This funding will commence once Hinkley Point C begins operations in 2030 under a contracts-for-difference system that ensures fixed payments for low-carbon energy generation.

Amid rising prices, tariffs, and growing unemployment, many Americans are opting to cut back on holiday spending this year, reflecting a deepening anxiety about the economy under President Donald Trump. The White House has attempted to alleviate concerns by proposing stimulus checks and tariff rollbacks, yet consumer confidence remains low.

Chancellor Rachel Reeves has unveiled the 2025 budget, introducing new tax rates and measures that will significantly impact household finances, including changes to pensions, savings, and a pay-per-mile scheme for electric vehicles. This budget aims to address the ongoing cost of living crisis while raising £26 billion through various tax reforms.

JPMorgan has announced plans to construct a new headquarters in Canary Wharf, London, which will be a significant 3 million square foot tower, reflecting the bank's commitment to its operations in the UK. CEO Jamie Dimon emphasized the importance of this development for the company's future in the city.

British retailers, including Primark, Currys, and Boohoo, have expressed frustration over the UK government's decision to delay the end of a tax break on low-value imported goods until 2029, which they argue undermines their competitiveness against foreign rivals like Shein and Temu.

The UK energy minister, Michael Shanks, emphasized the urgent need for the country to take decisive action to prevent a potential gas supply crisis, which could leave homes and businesses without gas during the coldest days of the year. Advisers have warned that without adequate planning, the UK may face significant shortages by the end of the decade.