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UK Edition
7th August 2026
 
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THE HOT STORY

Reform would make bosses criminally liable for illegal working

Reform UK has vowed a crackdown on illegal working, particularly in the food delivery sector. Firms could face fines of 10% of their global revenues, and chief executives and directors of large companies may face imprisonment. Zia Yusuf, Reform's Home Affairs spokesman, said: "Under a Reform government, Britain will have the harshest penalties in the world for employing illegal migrants." The Home Office has said it is already increasing penalties for companies hiring illegal workers. A spokesman for Deliveroo said: “Illegal working should absolutely be addressed, and that's why we've led the industry in cracking down on the sophisticated, organised criminals who attempt to abuse our platform . . . We run Right to Work checks on all riders, conduct multiple daily identity checks and use cutting-edge fraud-detection technology, and we'd encourage other industries affected by illegal working to do the same.”
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STRATEGY

Diageo unveils restructuring plan

Diageo chief executive Dave Lewis has launched a restructuring plan to revive the drinks maker amid declining profits and changing consumer habits. The firm, which will overhaul operations and focus on innovation, plans to cut a "significant" number of jobs after identifying duplication across the business. The restructuring is expected to cost $1.2bn but aims to deliver $1bn in annual savings within two years. Diageo will invest $1bn in Guinness, nearly doubling production capacity by 2031 to meet strong global demand.
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TRAINING & DEVELOPMENT

Third of A-level students not engaging with careers services

A survey carried out by Prospects has found that more than a third (35%) of A-level students did not engage at all with their school or college's careers service in the last academic year, with those considering apprenticeships even less likely to do so. However, 73% of those who engaged with their careers service said they were fairly or very certain about their career plans, compared with 63% of those who did not. Chris Rea from Prospects said research "suggests that careers support can play an important role in helping students feel more confident about their future plans, yet too many are missing out on advice and guidance that could help them make informed decisions."
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HIRING

Parents become a bigger presence in young adults' careers

Recruiters and hiring managers say parental involvement in the careers of young adults is becoming increasingly common, with some parents contacting employers, applying for jobs on behalf of their children, attending interviews, or even participating in workplace discussions. Human resources professionals say the trend has become far more widespread in recent years, particularly among Gen Z workers, raising concerns that excessive parental involvement signals a lack of independence and self-reliance. While some parents argue they are simply helping their children navigate a difficult job market or providing networking support, employers say direct intervention rarely improves hiring prospects and can instead create a negative impression. A survey by résumé service Zety found that 20% of Gen Z respondents had a parent attend a job interview with them, while HR professionals reported receiving calls from parents about applications, performance reviews, benefits, and even absences. Many employers said they now encourage parents to step back and instead coach their children to communicate directly with managers and recruiters.
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LEGAL

Directors face tougher penalties for late filings

Companies House has intensified enforcement against directors who fail to meet filing obligations, with tougher penalties including business bans for serious or persistent offenders. In the first half of this year, 23 directors were disqualified for a total of 70 years due to "persistent or serious non-compliance" with their duties. Additionally, 360 directors faced prosecution for filing offences in the first quarter. Martin Swain, director of intelligence and law enforcement engagement at Companies House, said: "Prosecution ensures that where there has been a serious breach of the law, individuals are held to account." Further changes are planned from April 2028, when around 2m small and micro companies will be required to provide profit and loss information for the first time. 
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CORPORATE

AstraZeneca-Bristol Myers deal talks denied by source

A senior source has dismissed reports that AstraZeneca could be set to merge with Bristol Myers Squibb. Analysts have expressed confusion over the strategic sense of such a merger, citing overlapping drug portfolios and competition issues. Reuters has reported that there are "no discussions'' about a potential merger between the two companies, quoting a senior source who said: "There is no deal between AstraZeneca and BMS. There never was a deal to be done, and there are no discussions between the companies." The Financial Times first reported that the UK drugmaker was in talks to combine with its US rival in a deal that would create one of the world’s biggest pharmaceutical groups, valued at nearly $400bn.
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SECURITY

Deel buys Tel Aviv AI cyber startup to combat fake hires

Payroll and HR platform Deel has acquired Clarity, a Tel Aviv-based startup which specialises in deepfake detection and identity verification. The acquisition aims to enhance security measures for employers managing global workforces amid the growing AI-driven security threat posed by fake job candidates. Deel did not disclose financial details, but sources estimate the deal to be worth between $45m and $50m. “Deepfakes, identity fraud, and impersonation attacks are becoming more sophisticated, changing how companies hire and grow globally,” said French-Israeli entrepreneur Alex Bouaziz, co-founder of Deel. “Bringing Clarity and its world-class AI talent into Deel gives us the capabilities to build trusted identity security directly into our platform . . . This lets customers confidently hire, onboard, and manage verified teams globally, with continuous safeguards that evolve as threats get smarter.”
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INTERNATIONAL

Qantas weighs offshoring up to 1,000 corporate roles to India

Qantas is considering a restructuring that may involve relocating up to 1,000 corporate roles to India as part of Project iQ, an initiative aimed at cost reduction and enhancing artificial intelligence use. The airline is in preliminary discussions with Accenture about the plan, which may involve shifting parts of human resources, marketing, finance and other back-office functions offshore, but has not finalised any agreements. Chief Technology, AI and Transformation Officer Rachel Yangoyan leads the project, which has raised concerns among the Australian Services Union regarding potential job losses. Union Assistant National Secretary Scott Cowen urged Qantas to honour commitments to local employment, emphasising the importance of experienced staff for service quality.

Bank of America spends $250m a year on GLP-1 drugs

Bank of America CEO Brian Moynihan has said the bank is investing over $250m annually in GLP-1 weight loss medications for its workforce - an increase from zero five years ago. Moynihan described the expenditure as a “good investment,” highlighting potential health benefits for employees including reduced incidents of heart issues. “We see a great impact on the employees . . . It's been fascinating to watch our teammates' behaviour on these adjustments - the loss of weight,” he said. The bank allocates more than $2bn yearly for healthcare for its approximately 211,000 employees, and is negotiating lower prices with drugmakers to manage costs effectively.

Schaeffler seeks 1,300 job cuts through early pension push

German manufacturer Schaeffler plans to cut staff through an expanded phased-retirement programme that will unfold over four years amid weak automotive demand. The supplier said it expects some 1,300 employees, or 1.2% of its total workforce, to accept the early pension offer. “We expect to see the first minor positive effects as early as 2027, but this is not a programme that produces quick results,” Schaeffler CEO Klaus Rosenfeld said. The measure will result in a one-off charge of about €51m ($59m) this year, the company said.

Widespread layoffs hit Bangladesh garment sector

About 400 of the roughly 4,000 apparel factories in Bangladesh have shut over the past two years, eliminating tens of thousands of jobs, according to the Bangladesh Garment Manufacturers and Exporters Association (BGMEA). The sector employs more than 4.5 million people, most of them women. Analysts say Bangladesh faces a challenge in Europe, its largest market, as India and Vietnam gain ground through free-trade agreements, and the pressure could build as Bangladesh is set to lose duty-free preferential market access in Europe and other countries because its status as a least-developed country is scheduled to expire in 2029. "If Bangladesh fails to strike free-trade agreements after the end of the preferential trade regime, the country may risk losing competitiveness," observed Dhaka University professor Selim Raihan.
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OTHER

Japanese firm's 'human refrigerator' offers relief from extreme summer heat

Japanese industrial equipment maker Trusco Nakayama has developed a "human refrigerator" designed to help prevent heatstroke as the country experiences increasingly severe summer temperatures. The ¥1.5m ($9,500) Do Hiemon Box, which cools users with 5°C air inside a 15°C booth, has already sold around 200 units to customers including construction sites, steel mills and universities. The company has also deployed the units to evacuation shelters following last week's earthquake in Kumamoto. Trusco said demand for workplace cooling products has roughly doubled in recent years as rising temperatures and tighter heat safety regulations drive interest in cooling solutions. 
 
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