THE HOT STORY

'Fast track' apprenticeships to boost infrastructure

The government plans to create thousands of "fast track" apprenticeships for major infrastructure projects, including nuclear power stations and railways. Currently, about 950,000 young people aged 16 to 24 are not in employment, education, or training. Labour will invest £725m to create 50,000 new apprenticeships and reform financial incentives for small businesses. Work and pensions secretary Pat McFadden said too many young people are out of work and Britain is taking too long to get things built. Under the scheme, employers will have the cost of 25 hours a week funded for six months at the minimum wage.

The Observer

TRAINING & DEVELOPMENT

Deloitte reshapes auditor training for AI era

Deloitte will transform its training for junior auditors as AI automates many entry-level tasks. Starting in September, new audit staff will receive enhanced training in communication and problem-solving, alongside AI tool usage. They will also complete 12 of the 14 associate chartered accountant (ACA) exams in their first year, gaining more study days. Allee Bonnard, managing partner for audit and assurance, said this approach allows joiners to "get the right training upfront and then get to work on more interesting work earlier on in their careers." Deloitte employs around 1,500 graduates annually, despite a decline in graduate roles across the sector.

Sunday Times

REMOTE WORKING

‘They want their pound of flesh’: why bank bosses are pushing strict return-to-office mandates

Companies in sectors from tech to manufacturing are stepping up their return-to-office policies: culture, pay and expensive offices are cited as among the reasons for ending remote work.

Financial Times

HIRING

Hiring conditions show slight recovery

Recruiters report a slight improvement in hiring conditions, according to the Recruitment and Employment Confederation (REC) and KPMG. While permanent job appointments continue to decline, temporary positions are on the rise. The REC's survey of 400 agencies shows that market confidence remains low, with total job vacancies still falling, albeit at a slower rate. Neil Carberry, REC chief executive, said: "The 'wait-and-see' period seems to be ending," while Lisa Fernihough from KPMG noted that skills shortages continue to challenge the market.

The I

STRATEGY

Barclays cuts London jobs

Barclays plans to cut up to 50 jobs in London by relocating roles to India and using artificial intelligence tools. The move is part of chief executive CS Venkatakrishnan's strategy to reduce costs by £2bn. The bank will eliminate its nearly 20-member copywriting team in London, replacing it with a larger team in India. A Barclays spokesman clarified: "It is incorrect to report the copywriting roles in one of our marketing teams are being replaced by AI. These specific roles are being relocated to India."

The Sunday Telegraph

Ocado could cut up to 1,000 jobs

Ocado is planning a major round of redundancies, with up to 1,000 roles - around 5% of its global workforce - potentially affected, mainly in its UK head office across technology, legal, finance, and HR teams. The move follows a challenging year for its automated warehouse business, compounded by closures of customer fulfilment centres (CFCs) by North American clients Kroger and Sobeys, which cited cost and market issues.

The Times

CORPORATE

UK business confidence dips

UK company directors began 2026 with diminished confidence, according to a KPMG survey. Only 30% of the 1,500 surveyed expressed optimism about the economy, a drop from 42% in late 2024. Concerns over cost pressures and tax policy changes have increased, with 38% citing tax as a worry. Despite this, 87% remain optimistic about their company's prospects, though this is down from 92% the previous year. Euan West, head of regions at KPMG UK, noted that uncertainty has led to a reassessment of expectations, saying: "Resilience is the watchword." The survey aligns with findings from the Bank of England.

The Times

UK CEOs overhaul investment strategies

Many UK chief executives have revised their investment strategies due to geopolitical shifts and changes in trade flows since US President Donald Trump’s return to office. According to a report by EY, 78% of CEOs modified their plans following increased US import levies. The survey revealed that 32% delayed investments, while 31% expedited them. Silvia Rindone, managing partner at EY, said: "Chief executives are recalibrating their strategies, demonstrating remarkable resilience and adaptability."

The Times

TECHNOLOGY

KPMG pressed its auditor to pass on AI cost savings

KPMG negotiated lower fees from its own accountant, Grant Thornton UK, by arguing that AI will make it cheaper to do the work, according to people familiar with the matter.

Financial Times

INTERNATIONAL

Nike faces federal investigation over diversity policies

The US Equal Employment Opportunity Commission (EEOC) is investigating Nike for alleged discrimination against white employees through its diversity policies. The inquiry, revealed in a court motion, seeks information on Nike's layoff criteria and race-based mentoring programs. Nike said it has cooperated with the EEOC, calling the subpoena "a surprising and unusual escalation." The investigation follows a complaint filed by EEOC Chair Andrea Lucas, and not from any employee grievance. "When there are compelling indications, including corporate admissions in extensive public materials, that an employer's Diversity, Equity and Inclusion-related programs may violate federal prohibitions against race discrimination or other forms of unlawful discrimination, the EEOC will take all necessary steps including subpoena actions - to ensure the opportunity to fully and comprehensively investigate," Lucas said.

U.S. News

Malaysia plans new insurance scheme for Singapore cross-border workers

The Malaysian government is introducing an insurance scheme for workers commuting to Singapore, as it seeks to address safety concerns for these workers during their cross-border daily journeys. Information technology engineer K. Prabakaran said: “This is very beneficial as most of us travel by bike and the road conditions and surroundings make the journey risky . . . The situation on the road is getting worse nowadays so I strongly agree that this scheme should be implemented.” Prabakaran has been working in Singapore for more than five years and commutes across the border daily.

Straits Times

OTHER

Weight-loss jabs curb appetite for Greggs

City analysts warn that weight-loss injections such as Mounjaro and Wegovy could curb appetite for Greggs's pastries, potentially hitting some of the bakery chain's highest-spending customers. The company has faced sluggish sales since mid-2024, attributed to weak consumer confidence, hot weather, and rapid shop expansion, but analysts say GLP-1 drugs could pose a longer-term challenge. Greggs is responding with healthier menu options, such as egg pots, to adapt to shifting consumer trends.

The Times

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