We got the latest UK employment data this morning. With the usual caveats around its reliability, there are signs of the market slowing — unemployment rose from 4.3% to 4.4% — but wage growth remains strong. Both regular pay and pay with bonuses rose by 5.6% in the year to November, which means wages are rising well ahead of inflation.

Sainsbury’s today announced it will cut over 3,000 jobs, including 20% of senior managers — a headline we shared among colleagues in the newsroom simply with the comment: “oof.”“Oof” is right. It is a big blow to the thousands of people set to lose their jobs,

Martin Ivens is the editor of the Times Literary Supplement. Previously, he was editor of the Sunday Times of London and its chief political commentator.

Chancellor of the Exchequer Rachel Reeves made the case for expanding Heathrow in the strongest hint yet that she’s preparing to green-light a controversial third runway at London’s busiest airport in a decision that’s divided the government.

Soon after her UK budget on Oct. 30, as economic sentiment plummeted and businesses protested higher taxes, an under-pressure Rachel Reeves had one key message for Treasury officials: “We need to go further and faster on growth.

A reprieve for the UK gilts market will be welcome after a torrid week.

UK cabinet ministers are questioning whether a proposed expansion of London’s Heathrow, Gatwick and Luton airports would have the growth impact intended, as tensions brew within government over Chancellor of the Exchequer Rachel Reeves’ growth plans.

The UK government’s new idea to boost growth is in fact an old favorite: business-friendly deregulation. The appeal, for a cash-strapped Labour administration that’s already ramped up taxes, is that it’s free.

Chancellor of the Exchequer Rachel Reeves said she will relax some of her changes to the UK’s tax regime for wealthy foreigners, known as “non-doms,” amid concerns the Labour government’s policies are pushing millionaires to leave the country.

Chancellor of the Exchequer Rachel Reeves joked about Elon Musk’s online “trolling” of world leaders, in a break from the UK government’s careful efforts to avoid responding to frequent criticism from the close Trump ally.

A huge row broke out over the future of Heathrow today following reports that Rachel Reeves is preparing to give her support to a third runway.It was claimed that the Chancellor will pledge to give her backing to the £14 billion expansion of the west London hub as well as a second runway at Gatwick and a major increase in capacity at Luton airport in a bid to kick-start economic growth.

Forcing banks to pay drivers billions of pounds in compensation for mis-sold car finance would be “bad for working families”, Rachel Reeves has said. The Chancellor said a potential £30bn bill for the scandal would raise the cost of borrowing and ultimately hurt consumers.