THE HOT STORY

Workers to sue oil refinery

Hundreds of former Lindsey Oil Refinery workers and contractors are preparing legal claims against the administrators of collapsed owner Prax. The Unite union says workers could receive up to £6,000 each, arguing they were dismissed without a legally required consultation. Prax collapsed in June 2025 with more than £1.5bn in debts. A Unite spokesman said: "The entire workforce at Lindsey oil refinery were treated appallingly and have lost their jobs through no fault of their own due to the mismanagement of others. Unite is committed to ensuring they receive at least some compensation for their loss of employment."

The Daily Telegraph

TRAINING & DEVELOPMENT

Businesses call for focus on soft skills to help young people into work

The Federation of Small Businesses (FSB) has called for a focus on young people's soft skills - such as communication, decision-making, organisation and adaptability - as part of efforts to cut the number not in education, employment or training (NEET). FSB national chair Tina McKenzie said 37% of employers have faced challenges recruiting due to a lack of soft skills among applicants, and said it is "important not only to expand access to work experience and placements, but also to lay the foundations for employment success within the curriculum itself." She said: "Improving financial and enterprise education in schools . . . alongside the development of essential soft skills, will help equip students with the knowledge and confidence they need."

The Times

ECONOMY

Economy in the slow lane, BCC warns

The British Chambers of Commerce (BCC) has warned that the UK economy will struggle with growth due to a slump in business investment. The economy is expected to slow sharply in the second half of 2026. While the BCC forecasts 1% growth for 2026, it expects a 0.2% contraction in Q3 and just 0.1% growth in Q4. Unemployment is projected to reach 5%, while inflation could hit 3.6%, exceeding the Bank of England’s forecast. Vicky Pryce, chair of the BCC's economic advisory council, said that growth in the first two quarters of the year will "soon be well into the rear view mirror as the UK economy continues in the slow lane."

City AM

TAX

Ministers consider exit tax for businesses

UK government ministers are considering a punitive exit tax for businesses that relocate abroad after benefiting from UK taxpayer funding. The proposed levy aims to prevent university spin-outs or start-ups supported by state grants from taking valuable intellectual property and jobs overseas. Lord Vallance, chair of Andy Burnham's AI Taskforce, is leading the initiative. The tax would be based on a company's valuation if it sells or floats abroad after receiving public money. One industry source said: "The optics of spin-out companies going abroad does not look good for the UK voter."

The Times

REMUNERATION

Diageo ditches ESG targets

Diageo has removed environmental, social and governance (ESG) targets from its executive pay structure. New chief executive Dave Lewis has shifted focus to financial performance, abandoning the 20% of bonuses previously tied to ESG metrics. Under Diageo's new scheme, performance will be assessed against earnings per share growth, free cash flow and return on invested capital.

Daily Mail

The Daily Telegraph

INTERNATIONAL

Unions warn of massive opposition in turnaround dispute with Volkswagen

Germany's IG Metall union has warned that its members will resist attempts by Volkswagen to undo a previously agreed restructuring package, although it stopped short of threatening strikes ahead of a critical board meeting scheduled for the end of this week that will see a vote on what currently are three rival restructuring proposals. The automaker's biggest overhaul to date could include plant closures, the carve-out of some units and 50,000 further ⁠layoffs. "I can only warn you: If the board tries to call this agreement into question again, then the factory floors will be up in arms at all our sites," Thorsten Groeger told workers in Hanover, one of the sites that faces closure. "We will oppose it with all our might," said the representative for Germany's largest union.

Reuters

Japan eases overtime rules

Japan has relaxed its overtime regulations in an effort to address labour shortages and enhance business flexibility. Around 40% of employers in Japan are operating under specific labour-management agreements that legally allow monthly overtime of up to 100 hours. Those businesses were however advised by authorities to cap overtime at 45 hours each month; now, labour standards inspection offices will no longer pressure companies that are over the 45-hour limit. The labour ministry said it would "continue to provide the necessary guidance if there is a high risk that health problems caused by excessive work may arise."

Japan Today

Nearly 10,000 New Zealand public servants to strike

Nearly 10,000 public servants in New Zealand plan to take strike action for several hours on Wednesday next week after negotiations over pay and working conditions failed ‌to produce an agreement. The proposed strike will involve workers at the Department of Internal Affairs, National Emergency Management Agency, Ministry for Ethnic Communities, Ministry of Business, Innovation and Employment and ⁠Ministry of Social Development, the Public Service Association (PSA) said. “These public servants are facing pay offers well below inflation while working amid the devastating consequences of the government’s public service cuts,” said PSA national secretary Duane Leo. Prime Minister Christopher Luxon said instead of striking, public servants should “get around the negotiating table and negotiate.”

Reuters

Stuff

France prepares emergency aid for farmers

France will provide several hundred million euros in emergency support to farmers affected by severe drought and heatwaves. The package will include compensation, tax exemptions and assistance with feed, seeds and seedlings. Drought conditions are affecting 65% of France, with major losses reported for corn, vegetables and livestock. Despite the damage, the government expects imports and staggered harvests to prevent food shortages and significant price increases.

Bloomberg

OTHER

DfE plans £800m national SEND CPD framework

The government plans to establish a national framework worth up to £800m for continuing professional development (CPD) focused on Special Educational Needs and Disabilities (SEND). The four-year initiative aims to enhance training for educators across early years, schools, and further education. NEU general secretary Daniel Kebede welcomed the announcement, but said the union “are not convinced the funding is sufficient to deliver the quality of training required.” He also wants all training to be in-person. “For too long SEND training has been provided through online courses – what is required is in person training with coaching and accreditation.” He added that the government “must develop professional qualifications for teaching assistants supporting SEND pupils.”

Schools Week

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