UK economy beats forecasts with 0.3% growth in November; Ofwat investigating South East Water over outages – as it happened

Newsflash: The UK economy has returned to growth, and more vigorously than expected.UK GDP expanded by 0.3% in November, new data from the Office for National Statistics shows, after shrinking a little in October.That’s faster than expected; City economists had expected growth of just 0.1%In another boost, September’s growth figures have been revised higher, showing that the economy didn’t shrink that month after all

South East Water boss in line for £400,000 bonus despite outages

The boss of the company that has left thousands of households in south-east England without water for days is in line for a £400,000 long-term bonus regardless of his performance, if he resists calls for him to resign over the outages.David Hinton, the chief executive of South East Water, is to receive the payout if he stays on until July 2030.Hinton is facing calls to give up his right to the previously unreported “service award”. The payment, which was disclosed in the company’s annual report, is not performance-related, meaning that as long as he remains, Hinton will receive it whatever the company’s record on water supplies or pollution.South East Water has faced immense pressure after 30,000 households in Kent and East and West Sussex endured days of water supply failures in November and again in January

New York bakery staff push for union, claiming they were forced to bake for Israeli fundraisers

Workers at popular New York City bakery chain Breads Bakery announced a move to unionize, claiming it has “underpaid, undervalued, disrespected, discriminated against, intimidated and hurt” staff, as well as supported “the genocide happening in Palestine”.The company, which has ties to Israel, expressed concern that “divisive political issues” had been introduced into its stores. “We make babka; we don’t engage in politics,” a spokesperson said.But staff involved in the unionization drive claimed that employees were forced by the chain to create products for fundraisers for Israeli organizations, and unable to decline.The union, Breaking Breads, claims that more than 30% of the chain’s 275 workers across New York City had signed union authorization cards, seeking to unionize with United Auto Workers Local 2179 and pushing for better pay, improvements to working conditions such as the replacement of broken equipment, and respect on the job

Growth figures give boost to Reeves – but it’s too early to get carried away

At the end of last year, Rachel Reeves was under fire for the impact of budget speculation on Britain’s economy. All of the noise about fiscal holes, tax increases and spending cuts before her late November budget was having a real-world effect on the spending decisions of households and businesses.The latest official figures will therefore come as a boost for the chancellor. Britain’s economy grew more strongly than expected in November, up 0.3%, despite the fog of uncertainty in the lead up to her critical tax and spending speech at the end of the month

UK economy grew by better-than-expected 0.3% in November despite budget uncertainty

The UK economy grew by a stronger-than-expected 0.3% in November despite uncertainty around Rachel Reeves’s budget, official figures show.Figures from the Office for National Statistics (ONS) on Thursday showed the improvement, up from a 0.1% fall in October.Forecasters had expected a more modest 0

‘The consumers are still out there’: why a bankruptcy for Saks Global may not spell the end

Every year, the stores down Manhattan’s Fifth Avenue dress up their windows at Christmastime. Tourists from all over the world come to gawk at all the glitter, lace, ruffles and bows.Saks’s Fifth Avenue location, so iconic that it’s embedded in the brand’s name, is usually dressed top to bottom during the holidays. In 2023, the store partnered with Christian Dior to display a giant zodiac calendar. As part of the light show, fireworks were released from the top of the store to the oohs and aahs of spectators