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Reeves speech did not mislead on challenges facing UK ahead of Budget, says OBR official
Michael RaceBusiness reporter Getty Images A senior official at the UK’s economic forecaster has said he does not believe the chancellor was being misleading when she said the state of the public finances were “very challenging” in the run-up to the Budget. Prof David Miles from the Office for Budget Responsibility (OBR) told MPs Rachel…
British Steel taken into public ownership to protect vital UK supply
British Steel has been taken into public ownership in what the government said was a bid to “protect UK steelmaking”. The future of the steelworks, which employs roughly 2,700 people in Scunthorpe and supports many other industries in north Lincolnshire, has been dogged by uncertainty over recent years. “Today’s decision secures the future of steelmaking…
The SpaceX IPO made history. One month on has it lost momentum?
SpaceX investors have swung from celebration to apparent concern in its first month as a publicly traded company. When shares in the firm, co-founded and led by Elon Musk, first became available for individuals to buy on the public stock market on 12 June, there was an investor frenzy. Although the company had decided to…
Walmart chief Doug McMillon retiring after more than a decade
Walmart chief executive Doug McMillon will retire from his post in January, handing over the reins to a longtime deputy. The 59-year-old is stepping down after more than a decade at the helm of the world’s largest retailer, a period when it successfully expanded its online operations, while scaling back riskier international units. He will…
