16 h. ago Elon Musk buys nearly $1bn in Tesla stock in push for more control

Tesla shares rose by more than 8% after news of CEO’s transactions, a week after he was offered $1tn pay packageElon Musk, the Tesla CEO, has purchased nearly $1bn worth of the electric-vehicle maker’s stock, a regulatory filing showed, reinforcing Musk’s push for greater control over Tesla.Tesla shares jumped more than 8% in premarket trading on Monday following the news. Continue reading...

Economics

1 week ago US hiring slows as jobs market loses momentum; UK construction in longest slump since 2020 – business live

Construction activity in longest continuous slump in five years, as UK long-term borrowing costs dips backOuch! Britain’s construction sector is suffering its longest continuous downturn since the early days of the Covid-19 pandemic.Construction output slumped again in August, according to the latest poll of purchasing managers from data provider S&P Global.Business activity falls for eighth month in a row, but at slower pace than in JulySolid reductions in new work and employmentOptimism drops to its lowest since December 2022“Construction activity has decreased throughout the year-to-date, which is the longest continuous downturn since early-2020. August data signalled only a partial easing in the speed of decline after output fell at the fastest pace for over five years in July.Sharply reduced levels of housing and civil engineering activity were again the main reasons for a weak overall construction sector performance. Commercial work showed some resilience in August, with t...

Society

1 week ago UK firms axe jobs at fastest pace for almost four years, survey finds

Companies are also increasingly pessimistic about future employment amid concerns over the wider economic outlook.

Politics

1 week ago UK businesses cut jobs at fastest pace since 2021, BoE survey shows

Reduction in employment points to continuing impact of higher payroll taxes set out in Budget last year

Politics

1 week ago UK construction in longest downturn since early 2020; global bond sell

Construction activity in longest continuous slump in five years, as UK long-term borrowing costs dips backOuch! Britain’s construction sector is suffering its longest continuous downturn since the early days of the Covid-19 pandemic.Construction output slumped again in August, according to the latest poll of purchasing managers from data provider S&P Global.Business activity falls for eighth month in a row, but at slower pace than in JulySolid reductions in new work and employmentOptimism drops to its lowest since December 2022“Construction activity has decreased throughout the year-to-date, which is the longest continuous downturn since early-2020. August data signalled only a partial easing in the speed of decline after output fell at the fastest pace for over five years in July.Sharply reduced levels of housing and civil engineering activity were again the main reasons for a weak overall construction sector performance. Commercial work showed some resilience in August, with t...

Politics

1 week ago UK services growth for August hits fastest pace in over a year

Stronger demand and lower borrowing costs helped drive improvement

Events

2 w. ago Confidence drops across UK services in face of higher costs and weak demand

CBI survey shows firms cutting hiring and investment as profits squeezed, with outlook gloomy for rest of yearBusiness confidence plunged this month across the UK’s services sector as mounting cost pressures and weak demand hit profits and undermined the outlook for the rest of the year.The CBI’s latest service sector poll found that a majority of companies were gloomy about their prospects and discounted the acceleration in activity that usually follows the return to work after the summer break. Continue reading...

Politics

3 w. ago CEO pay at top US companies accelerates at fastest pace in four years

Median package for S&P 500 bosses was $19mn in 2024, pay advisory calculates

Economics