Firms face ‘cliff edge’ with lay-offs after Christmas

Commuters as business leaders sound the alarm over jobs. Photo: Tolga Akmen/AFP via Getty Images
Commuters as business leaders sound the alarm over jobs. Photo: Tolga Akmen/AFP via Getty Images

Business groups have warned UK employers face a “cliff edge” as government support is cut back this winter, risking a fresh wave of job losses after Christmas.

Three leading business figures sounded the alarm over chancellor Rishi Sunak’s new job support scheme on Tuesday, with fears employers will still not be able to prevent lay-offs.

Sunak has resisted pressure to extend the job protection scheme, which saw millions of staff furloughed across the economy when the coronavirus and lockdown first hit. Last month he instead announced a new wage subsidy scheme from November, on top of a ‘job retention bonus’ for firms keeping furloughed staff.

Employers’ contributions are significantly higher under the new initiative, with organisations expected to pay more than half workers’ typical wages for only a third of their hours.

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Cuba on edge as government readies landmark currency devaluation

Cuba is stepping up plans to devalue the peso for the first time since the 1959 revolution, as a dire shortage of tradable currency sparks the gravest crisis in the communist-ruled island since the fall of the Soviet Union.

Two Cubans and a foreign businessman, all with knowledge of government plans, said the move to significantly devalue the peso had been approved at the highest level.

They said the devastating effect of the coronavirus pandemic on tourism, a fall in foreign earnings from the export of doctors and tougher US sanctions had created the worst cash crunch since the early 1990s, forcing the government to move forward with monetary and other reforms.

The sources said preparations for the devaluation were well under way at state-run companies and they expected the measure before the end of the year. They asked not to be identified owing to the sensitivity of the subject.

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Innovative Mindset in Society Is America Losing the Edge in Innovation?

Is America losing the edge in innovation? How can this be? Where did we go wrong? What happened? Could it be that we’ve changed our education system and society in a way that gives less incentive to innovators? That would be a travesty since our entire national identity is in part founded on the ‘can do attitude’. Let’s discuss this briefly and you tell me if you see it too.

Are we losing our ability to think creatively and innovatively solve problems? I believe so. We also seem to be losing self-reliance, no need to solve problems – all the problems have already been solved. No need to think, just look up the answer on Google. Suddenly, there is no accountability or integrity – passing off copied ideas and plagiarism for innovation.

Look, I am not Luddite, and I don’t live in a cave, I know there is innovation out … Read More