3 d. ago Procter & Gamble to cut up to 7,000 jobs amid economic and tariff pressure

The Tide detergent and Pampers maker plans global restructuring as US consumers pull back and trade costs riseProcter & Gamble will cut up to 7,000 jobs, or approximately 6% of its global workforce, in the next two years as the maker of Tide detergent and Pampers diapers wrestles with tariff-related costs and customers who have grown anxious about the economy. The job cuts, announced at the Deutsche Bank consumer conference in Paris on Thursday, make up about 15% of its current non-manufacturing workforce, said chief financial officer Andre Schulten. “This restructuring program is an important step toward ensuring our ability to deliver our long-term algorithm over the coming two to three years,” Schulten said. “It does not, however, remove the near-term challenges that we currently face.” Procter & Gamble, based in Cincinnati, had approximately 108,000 employees worldwide in June 2024. The cuts are part of a broader restructuring program. Procter & Gamble will also end ...

Economics

3 d. ago Broadband expert shares simple ways to cut streaming subscription costs this month

Almost 70 per cent of UK households pay for at least one streaming service.

Politics

1 week ago Trump confirms he’ll be negotiating his signature tax bill after Musk criticism

Tesla boss says US president’s One Beautiful Bill Act ‘undermines’ his Doge cost-cutting effortsDonald Trump said he will be negotiating his signature tax bill after Elon Musk publicly criticised the president’s spending plan, saying it “undermines” cost-cutting efforts that the world’s richest man once spearheaded.Speaking to reporters on Wednesday, Trump acknowledged the bill “needs to get a lot of support” in Congress, adding “we have to get a lot of votes”. The president also said he was “not happy about certain aspects of it, but I’m thrilled by other aspects of it” and confirmed he would be negotiating the legislation. Continue reading...

Economics

1 week ago Trump says he will be negotiating the ‘big, beautiful’ tax bill after Musk criticizes it – live

Trump says the bill ‘needs to get a lot of support’ in Congress, adding ‘we have to get a lot of votes’Musk says Trump tax bill weakens Doge cost-cutting measuresThe vice-president, JD Vance, is scheduled to deliver the keynote address at the Bitcoin 2025 Conference in Vegas, which will set out the Trump administration’s turbocharged approach to the US crypto industry.If you cast your minds back, it’s the same conference Trump spoke at last year in Nashville calling for America to become a “bitcoin superpower” and the “crypto capital of the planet” under his leadership.At 4:30pm ET, Trump’s sons Eric and Donald Trump Jr will speak at the very same conference in Vegas. It’s presumably an industry they feel invested in, given they back a major Bitcoin venture themselves, per Reuters. And it comes just a day after a separate family-linked business, the Trump Media & Technology Group, announced its intention to raise $2.5bn to invest in bitcoin, as the Wall Street Journal reports. A...

Politics

1 week ago Marco Rubio announces visa restrictions for foreigners ‘complicit in censoring Americans’ – US politics live

US secretary of state makes announcement that appears to take aim at other countries’ enforcement of social media regulationsMusk says Trump tax bill weakens Doge cost-cutting measuresThe vice-president, JD Vance, is scheduled to deliver the keynote address at the Bitcoin 2025 Conference in Vegas, which will set out the Trump administration’s turbocharged approach to the US crypto industry.If you cast your minds back, it’s the same conference Trump spoke at last year in Nashville calling for America to become a “bitcoin superpower” and the “crypto capital of the planet” under his leadership.At 4:30pm ET, Trump’s sons Eric and Donald Trump Jr will speak at the very same conference in Vegas. It’s presumably an industry they feel invested in, given they back a major Bitcoin venture themselves, per Reuters. And it comes just a day after a separate family-linked business, the Trump Media & Technology Group, announced its intention to raise $2.5bn to invest in bitcoin, as the Wall Str...

Politics

1 week ago Musk criticises Trump’s ‘big beautiful bill’, saying tax plans undermine Doge measures – US politics live

Tesla billionaire calls legislation a ‘massive spending bill’ that will add to the federal deficitMusk says Trump tax bill weakens Doge cost-cutting measuresThe vice-president, JD Vance, is scheduled to deliver the keynote address at the Bitcoin 2025 Conference in Vegas, which will set out the Trump administration’s turbocharged approach to the US crypto industry.If you cast your minds back, it’s the same conference Trump spoke at last year in Nashville calling for America to become a “bitcoin superpower” and the “crypto capital of the planet” under his leadership.At 4:30pm ET, Trump’s sons Eric and Donald Trump Jr will speak at the very same conference in Vegas. It’s presumably an industry they feel invested in, given they back a major Bitcoin venture themselves, per Reuters. And it comes just a day after a separate family-linked business, the Trump Media & Technology Group, announced its intention to raise $2.5bn to invest in bitcoin, as the Wall Street Journal reports. And th...

Politics

1 week ago European companies cut costs, scale back investments in China as its economy slows

European companies are cutting costs and scaling back investment plans in China as the economy slows and fierce competition drives down prices

Economics

1 week ago How WILL you pay for that, Nigel? Farage admits Reform's costings might be 'optimistic' as he vows '£80bn' tax cut while axing two

Nigel Farage trolled that Keir Starmer is 'terrified' of the threat from the insurgents as he committed to scrap the two-child benefit cap and fully restore winter fuel payments.

Economics

1 week ago Keir Starmer considering DWP benefit cut changes after PIP backlash

The Prime Minister is said to be considering “tweaks” to welfare cuts planned by the Government

Politics

1 week ago DWP PIP benefits £47 change will 'push people deeper into poverty', charity warns

The Work and Pensions Secretary said the Government is on the side of sick and disabled people

Events

2 w. ago Voices: What Rayner’s crackdown on child benefit will really mean for middle

A leaked government memo reveals that Angela Rayner wants to stop child benefit handouts to middle-class mums. The trouble is, says Charlotte Cripps, many on her hit list might have middle-class backgrounds but can no longer match them economically

Politics

2 w. ago Major UK supermarket makes big change that not everyone will like

As UK supermarkets look to cut costs, one major High Street name has confirmed its scrapping a much-needed aspect of its stores, and instead bringing in a high-tech replacement

Politics

2 w. ago What Rayner’s crackdown on child benefit will really mean for middle

A leaked government memo reveals that Angela Rayner wants to stop child benefit handouts to middle-class mums. The trouble is, says Charlotte Cripps, many on her hit list might have middle-class backgrounds but can no longer match them economically

Politics

2 w. ago Trump says Samsung and other smartphone manufacturers will also be subject to 25% Apple tariff – business live

US president says 50% tariff on EU goods to come in 1 June; Apple iPhones and those of other manufacturers made overseas to face 25% tariffTrump says he is hitting EU with 50% tariff as trade talks are ‘going nowhere’As well as cutting UK energy costs (see earlier), Donald Trump can also take credit for growing the German economy!New GDP data this morning shows that Germany’s GDP rose by 0.4% in January-March, twice as fast as the first estimate of 0.2% growth in the quarter.“The reason for the slightly higher growth compared to the initial estimate was the surprisingly positive economic development in March.”“In particular, production in the manufacturing sector and exports performed better than initially expected.The German economy had its best quarterly performance since the third quarter of 2022, and the reason for it seems to be Donald Trump. As a result of the announced tariffs and in anticipation of ‘Liberation Day,’ German industrial production and exports surged in March.Ne...

Economics

2 w. ago European markets suffer losses after Trump ‘recommends’ 50% tariff on EU, and threatens Apple with 25% tariff – business live

US president Donald Trump reignites trade war with threat to impose high tariffs on European goods, and Apple iPhones made overseasTrump says he is hitting EU with 50% tariff as trade talks are ‘going nowhere’As well as cutting UK energy costs (see earlier), Donald Trump can also take credit for growing the German economy!New GDP data this morning shows that Germany’s GDP rose by 0.4% in January-March, twice as fast as the first estimate of 0.2% growth in the quarter.“The reason for the slightly higher growth compared to the initial estimate was the surprisingly positive economic development in March.”“In particular, production in the manufacturing sector and exports performed better than initially expected.The German economy had its best quarterly performance since the third quarter of 2022, and the reason for it seems to be Donald Trump. As a result of the announced tariffs and in anticipation of ‘Liberation Day,’ German industrial production and exports surged in March.Net export...

Economics

2 w. ago Trump ‘recommending’ 50% tariff on EU, and threatens Apple with 25% tariff – business live

US president Donald Trump reignites trade war with threat to impose high tariffs on European goods, and Apple iPhones made overseasTypical energy bill in Great Britain to fall 7% to £1,720 a year from JulyAs well as cutting UK energy costs (see earlier), Donald Trump can also take credit for growing the German economy!New GDP data this morning shows that Germany’s GDP rose by 0.4% in January-March, twice as fast as the first estimate of 0.2% growth in the quarter.“The reason for the slightly higher growth compared to the initial estimate was the surprisingly positive economic development in March.”“In particular, production in the manufacturing sector and exports performed better than initially expected.The German economy had its best quarterly performance since the third quarter of 2022, and the reason for it seems to be Donald Trump. As a result of the announced tariffs and in anticipation of ‘Liberation Day,’ German industrial production and exports surged in March.Net exports an...

Politics

2 w. ago Managing Man Utd as Bruno Fernandes sold, Andre Onana given competition and striker signed

Manchester United will be without European football next season, meaning that the Red Devils will have even less to spend on new signings despite Sir Jim Ratcliffe's cost-cutting

Events

2 w. ago Harvey Nichols could scrap its luxury hampers in bid to cut costs

The department store business is undergoing a three-year turnaround programme under recently-appointed boss Julia Goddard

Politics

2 w. ago Revealed: UnitedHealth secretly paid nursing homes to reduce hospital transfers

A Guardian investigation finds insurer quietly paid facilities that helped it gain Medicare enrollees and reduce hospitalizations. Whistleblowers allege harm to residentsUnitedHealth Group, the nation’s largest healthcare conglomerate, has secretly paid nursing homes thousands in bonuses to help slash hospital transfers for ailing residents – part of a series of cost-cutting tactics that has saved the company millions, but at times risked residents’ health, a Guardian investigation has found.Those secret bonuses have been paid out as part of a UnitedHealth program that stations the company’s own medical teams in nursing homes and pushes them to cut care expenses for residents covered by the insurance giant. Continue reading...

Society

2 w. ago Talks to settle £120m legal claim against Vodafone end without success

Sixty-two operators claim drastic cuts to commission rates caused franchise owners to run up huge personal debts Talks to settle a £120m legal claim between Vodafone and more than 60 of the mobile phone group’s franchise operators have ended without resolution – leaving the case potentially heading for the high court.The case was filed in December with the claimants accusing Vodafone of “unjustly enriching” itself by implementing a series of cost-cutting tactics as the UK emerged from initial Covid-19 restrictions in 2020. Continue reading...

Economics