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Oliver Blume tells staff restructuring proposal includes ‘controversial decisions’ but he has broad supportBusiness live – latest updatesThe chief executive of Volkswagen has confirmed plans to cut 50,000 more jobs despite the carmaker’s supervisory board rejecting his plan to shut four factories in Germany.Oliver Blume told staff on Monday that proposals for a sprawling restructuring was “the most comprehensive realignment in the company’s history” and revolved around “12 initiatives,

Chancellor says PM-in-waiting needs ‘worked through plan’, in what could be one of her final interviews in No 11Rachel Reeves has urged Andy Burnham to arrive in Downing Street with a “worked through plan”, saying the incoming prime minister will be tested quickly by a range of incoming “shocks and challenges”.In what could be one of the first female chancellor’s final major interviews while in No 11, Reeves said Burnham should remain focused on the priorities that first brought him in

Exclusive: Campaigners voice concerns over rising costs of £11bn Essex to Kent road tunnelThe UK’s public spending watchdog has said it plans to investigate the Lower Thames Crossing, as campaigners voice concerns over the rising costs of one of the UK’s largest infrastructure projects.The head of the National Audit Office (NAO) said he anticipated the agency would “examine and report” on the planned £11bn road tunnel between Kent and Essex, and that work to monitor the project had alr

Plans specify tolls must not be compulsory, as US officials urge Iran to make public statement that strait is open and that shipping can safely passEurope is studying proposals that may allow the charging of navigational fees in the strait of Hormuz so long as the tolls are not compulsory and have the support of the UN agency that regulates maritime transport.Britain’s deputy prime minister, David Lammy, said the imposition of compulsory tolls would be disastrous. But some of his cabin

Exclusive: Move comes as allies of Andy Burnham work on proposals to take water companies into public controlMinisters are drawing up plans to set legally binding debt targets for England’s water companies as they look for ways to avoid another corporate failure such as Thames Water.Sources say Emma Reynolds, the environment secretary, is working on proposals that would force companies to keep their debt below certain levels for the first time or face legal punishment. Continue reading

People in Thornton-Cleveleys want answers on the impact of widespread contamination around the chemical plant“Everything I wanted was finally coming to fruition. A house, a change of job and getting married,” says Liz Hurst, looking out to sea on a hot evening in Blackpool.“But then all of a sudden, everything was put on hold.” Fifteen years ago, Hurst was diagnosed with kidney cancer aged 32. Continue reading...

Exclusive: Plan to improve skills of thousands of financial sector workers to keep pace with tech revolutionChancellor Rachel Reeves is to announce a new City “skills compact” that will commit firms such as Barclays and Lloyds to retraining thousands of financial sector workers for the AI revolution.The financial services skills compact will be launched on Tuesday, during what is likely to be Reeves’s final Mansion House speech to City bosses before Andy Burnham’s expected takeover of

Ministers consider bringing e-cigarette laws in line with tobacco as data shows 20% of teenagers have tried vapingVapes could be sold in plain packaging as part of a range of proposals to stop them being marketed to children.The UK-wide plans also include limiting device colours to white, black or grey, and keeping vapes out of sight in shops, according to the Department of Health and Social Care. Continue reading...

Plan unveiled for ground 350 metres from Old TraffordWorking cost of stadium previously stated as £2bnManchester United have said their proposed new 100,000-capacity stadium may lead to further debt being loaded on the club but insisted it will be “a sanity, not vanity project”.Plans for United’s new home were unveiled on Thursdayand showed it would be built 350 metres north-west of the current Old Trafford. The club are about £1.3bn in debt and in March 2025 Omar Berrada, United’s chi

Demonstrations at 18 sites set up as radical transformation plan put to board of Europe’s biggest carmakerVolkswagen’s proposal to slash up to 100,000 jobs and close factories faces a major test on Thursday as formal proposals are put to the supervisory board at Europe’s biggest carmaker, with protests planned at all plants in Germany.IG Metall, the influential staff union, has organised demonstrations involving shop stewards and union council members at 18 sites, including the company

Ministers also considering licence requirement and regulator to try to cut bills and increase choice UK vets may have to have a licence and cap prescriptions for pet medicine at £21 under plans being considered by the government.Ministers are also considering establishing a regulator for the veterinary sector, including inspections, a mandatory licensing system and published compliance reports to improve accountability and choice. Every vet practice could need an official operating lic

Extension comes as government encourages first nuclear power projects in a generation to meet UK’s growing need for electricityBritain’s most recently completed nuclear power plant will continue generating electricity until 2055 after the government granted the power plant a 20-year life extension.Sizewell B in Suffolk was due to shut down within the next decade, but under a deal with the government its lifetime will be extended to 60 years to help meet the UK’s growing demand for low-