The UK is poised to witness a significant reduction in electric car prices in 2024, according to an analysis by online vehicle marketplace Auto Trader. The anticipated price war is attributed to the entry of Chinese electric car manufacturers into the UK market, with brands like BYD and GWM expected to play a substantial role in transforming the electric vehicle (EV) sector. Market Transformation: Auto Trader predicts a fierce price war in the electric car market, driven by the market entry of Chinese manufacturers. Chinese electric cars are anticipated to capture a significant share, approximately one-sixth, of the UK’s new…
Business & Finance
The advent of remote working has triggered a transformative shift in work dynamics, with hybrid working emerging as a lasting trend. A survey of 2,000 London workers reveals that six in ten employees continue to work remotely, even as COVID-19 restrictions ease. The preference for remote work is particularly prominent among young professionals, marking a significant change from their pre-pandemic patterns. Priorities and Flexibility: Young professionals increasingly prioritize personal goals, flexibility, and work-life balance. Remote working, especially from home, aligns with these priorities, offering greater control over their work environment and schedule. Research indicates that many young professionals value flexibility…
Union membership among young workers is experiencing a significant decline, marking a global trend known as the de-unionisation of the young. In the UK, government statistics reveal a sharp decrease, with only 4.3% of workers aged 16 to 24 being union members in 2021, compared to 19.8% in the 25 to 34 age group. This decline is part of a broader shift that has seen collective bargaining coverage decrease from 80% of the British workforce in 1980 to around 30% in the 2000s. The drop in union membership is not necessarily due to young professionals viewing unions more negatively than…
The allure of social media influencing has captured the aspirations of up to 1.3 million young individuals in the UK. A 2019 poll revealing that children preferred being YouTubers to astronauts brought attention to the growing desire to earn a living through creating online content. However, beneath the glossy exterior of the influencer lifestyle lies a landscape of precarious income, pay disparities based on gender, race, and disability, and a range of mental health issues, according to research conducted by experts in the field. The global influencer market, estimated at $13.8 billion (£11.2 billion) in 2021, has seen individuals like…
The iconic Woolworth brand, which ceased operations in the UK in 2009 amid the financial crisis, might be poised for a comeback. Roman Heini, the Chief Executive of HH Holding, the company that rescued Woolworth in Germany, has expressed intentions to explore the possibility of bringing the beloved retailer back to UK high streets. HH Holding played a pivotal role in saving Woolworth in Germany after the closure of its British shops in 2009. Mr. Heini, who has an extensive background in executive positions at Aldi and Lidl, took the helm as Woolworth’s Chief Executive in 2020. Despite the challenges…
Tech giant Apple is currently embroiled in a legal battle in the United Kingdom, as it seeks to dismiss a significant lawsuit valued at approximately $1 billion. The case, filed by over 1,500 app developers and estimated to be worth up to £785 million ($998 million), alleges that Apple imposed unfair commissions, reaching up to 30%, on third-party developers for app and content purchases through its App Store. The legal challenge is being led by Sean Ennis, a competition law professor and former economist at the OECD, and has been presented before the Competition Appeal Tribunal (CAT) in London. Ennis…