Business

Michael Sayman said he had no intention of leaving Meta. He started working for the tech juggernaut as a youngster, transitioning from early consumer product facing work to executive leadership positions that influenced the way hundreds of millions of people communicate online. Michael said he took it day by day, not giving much thought for how his career would evolve …

Labour’s flagship Employment Rights Bill has cleared its final parliamentary hurdle and is set to become law before Christmas, marking the most significant expansion of workers’ rights in a generation. The legislation passed its final stage in the House of Lords after Conservative peer Lord Sharpe, the shadow business and trade minister, withdrew a last-minute amendment during parliamentary “ping pong”. …

The AA has appointed advisers to explore a potential sale or stock market flotation, five years after the debt-laden roadside assistance group was taken private, as rival RAC also considers a return to public markets. The AA, which is owned by private equity firms Warburg Pincus, TowerBrook Capital Partners and Stonepeak, has hired JP Morgan and Rothschild to review strategic …

The proportion of people in Britain holding cryptocurrencies has fallen sharply, according to new research published by the Financial Conduct Authority, as the regulator unveils long-awaited plans to bring digital assets under formal supervision. Research commissioned by the FCA found that just 8 per cent of UK adults now own cryptocurrencies such as bitcoin or ethereum, down from a peak …

Britain can “without a doubt” compete with the United States to become a global hub for cryptoassets, the City minister has said, as the government sets out long-awaited legislation to regulate the fast-growing digital assets market. Lucy Rigby said the proposed framework showed the UK’s intention to “lead the world in digital assets adoption”, amid mounting concern from the crypto …

The employment tribunal system is facing unprecedented strain, with a backlog of more than half a million claims raising serious doubts over its ability to cope with an expected surge in cases under Labour’s proposed expansion of workers’ rights. Latest tribunal statistics for the second quarter of the year, covering July to September 2025, show that active claims — including …

McKinsey is drawing up plans that could see thousands of jobs cut over the next two years, as the global consultancy responds to rapid advances in artificial intelligence and a prolonged slowdown in client demand. Senior partners at the firm are understood to have held early discussions with leaders of non-client-facing departments about reducing team sizes by as much as …

First-time buyers, the self-employed and older borrowers could soon find it easier to secure a mortgage under a package of reforms proposed by the Financial Conduct Authority, as the regulator moves to modernise lending rules to reflect changing working lives and demographics. The FCA said it plans to simplify mortgage regulations and loosen restrictions on lenders to allow more flexible …

McKinsey to make thousands of layoffs as AI advancesGlobal consultancy firm takes its own advice and sets out to cut one in ten roles in some teams in response to improvements in artificial intelligence McKinsey, the consultancy that regularly advises companies on cutting costs, is taking its own advice and drawing up plans that could result in it shedding thousands …

Virgin Media O2 has officially opened its new multi-million-pound North West headquarters in central Manchester, marking a significant expansion of its long-term commitment to the city and the wider region. The new office, located on John Dalton Street just off Deansgate, will be home to around 1,100 employees and forms part of a broader strategy to invest in people, digital …