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Nissan and JATCO’s £50 million investment in Sunderland will create 183 jobs and produce 340,000 EV powertrains annually by 2026. Backed by the UK government, this marks a major boost for the nation’s EV sector and strengthens its global manufacturing position.
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UK inflation rose to 2.6% in November, driven by higher fuel, clothing, and housing costs. This marks the second consecutive increase, posing challenges for households and policymakers. The government and Bank of England face pressure to balance inflation control with economic growth.
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Discover Steph Huang’s “See, See, Sea” at Tate Britain, an inspiring exhibition blending sculpture, sound, and film to explore humanity’s relationship with food, trade, and the sea. On until 5 January 2025, admission is free. Dive into this thought-provoking experience today!
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Britain’s love for tea is waning, especially among younger generations. Traditional tea faces competition from herbal drinks, iced teas, and coffee. With sales declining, brands like Twinings are innovating with ready-to-drink options to stay relevant in the shifting market.
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UK Export Finance partners with a business group to support female entrepreneurs, offering tailored training, networking, and export finance solutions. This initiative aims to close the gender gap in entrepreneurship and boost UK exports. Source: GOV.UK
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The 6th UK-Taiwan Energy Dialogue highlights shared efforts in offshore wind, hydrogen tech, and carbon capture, strengthening ties for a sustainable future. This collaboration reflects a commitment to innovation and tackling global energy challenges together.
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Tax hikes in the UK have sparked a 26.6% surge in Venture Capital Trust (VCT) investments, with £250.1m raised this year. Offering 30% tax relief and exemptions, VCTs appeal to higher earners, though experts warn of higher risks and liquidity challenges.
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UK SMEs can unlock £9.3bn by exporting via e-commerce. Despite Brexit challenges, 66% have mastered EU customs, with 9% entering non-EU markets. Priorities include smoother customs, lower tariffs, and reduced trade barriers for easier global growth.
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The UK government plans to permanently cut business rates for retail, hospitality, and leisure properties from 2026, funded by higher taxes on top-value properties like large warehouses. Employers will also benefit from increased Employment Allowance.
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The UK secures a £500 million investment from Prologis to expand Cambridge Biomedical Campus, creating over 2,120 jobs. This boosts biomedical research and supports the government’s goal for economic growth, following Chancellor Rachel Reeves’ first budget announcement.
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The 2024 Budget introduces minimum wage increases, tax adjustments, and pension changes. Low-wage workers will see a pay rise, while inheritance tax and capital gains tax tighten. Meanwhile, bus fares and private school costs rise, with mixed reactions on job prospects and rental markets.
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The London East Asia Film Festival 2024 features a stellar lineup of Taiwanese films, including Dead Talent Society, a dark comedy by John Hsu, and restored classics like Woman of Wrath. This diverse programme highlights Taiwan’s cinematic depth and creativity. Tickets available at LEAFF’s website.