VidiaNews← All news

business news

Cutting ‘red tape’ is nothing but a red herring – and arguably counterproductive
business

Cutting ‘red tape’ is nothing but a red herring – and arguably counterproductive

Blaming a moribund economy on too many rules is a hackneyed neoliberal trope – UK plc needs smarter regulation, not less regulation Before becoming prime minister, Andy Burnham pledged to “end 40 years of neoliberalism”. In the run-up to the chancellor John Healey’s high-stakes Commons address, the government issued a press release last week promising his plans would include measures to “slash the red tape choking firms”.

Read →
Enugu traders reaffirm support for Gov Mbah’s second term
business

Enugu traders reaffirm support for Gov Mbah’s second term

The traders, under the umbrella of the Enugu State Market Amalgamated Traders Association (ESMATA), led by its President, Chief Chinwuba Igwesi, gave the assurance on Friday, 23 October during a high-level market stakeholders’ meeting with the governor.

Read →
Interest rates unlikely to reach 4.75% by next summer, say City economists
business

Interest rates unlikely to reach 4.75% by next summer, say City economists

Experts say Bank of England unlikely to increase rates by full percentage point – and could lower them by end of 2027 Financial markets are wrong to predict the Bank of England will raise UK interest rates by a full percentage point or more by next summer, City economists believe. According to market-implied interest rate expectations, the Bank is likely to raise interest rates at least four times over the next year, lifting the bank rate from 3.75% today to 4.75% by the end of July, and possibly to 5% – meaning five rises – by December 2027.

Read →
What is the £100k income ‘cliff-edge’?
business

What is the £100k income ‘cliff-edge’?

The tax-free personal allowance starts to be taken away when you hit six figures, and in England you lose access to childcare subsidies Believe it or not, there are downsides to earning more than £100,000 a year – particularly if you have small children. “It’s the ambition of many people to reach an income of £100,000, but it does come with an unexpected sting in the tail,” says Sean McCann, a chartered financial planner at NFU Mutual.

Read →
President Ruto Defends Dangote’s 25% KPC Stake Amid Public Outcry
business

President Ruto Defends Dangote’s 25% KPC Stake Amid Public Outcry

NAIROBI, Kenya Oct 24 – President William Ruto has defended Nigerian billionaire Aliko Dangote’s acquisition of a 25 per cent stake in the Kenya Pipeline Company (KPC) amid public outcry over the transaction, insisting the deal will benefit Kenyans. People’s Party of Kenya leader and Kiharu MP Ndindi Nyoro has questioned the share sale, alleging that public institutions were encouraged to buy shares during the company’s initial public offering before a substantial block was sold to Dangote.

Read →
Mbadi: Over 362,000 More Kenyans to Be Exempted From PAYE Under Proposed Tax Changes
business

Mbadi: Over 362,000 More Kenyans to Be Exempted From PAYE Under Proposed Tax Changes

Over 362,000 More Kenyans to Be Exempted From PAYE Under Proposed Tax Changes. NAIROBI, Kenya, Oct 25 – National Treasury Cabinet Secretary John Mbadi says an additional 362,846 salaried Kenyans could be exempted from Pay As You Earn (PAYE) tax under a proposed government plan to raise the monthly income tax exemption threshold from Sh24,000 to Sh32,333.

Read →
The boss whose twice-bust business appears to be back despite £3m debts
business

The boss whose twice-bust business appears to be back despite £3m debts

Andrew Woosnam took millions from his recruitment firms before creditors, including HMRC, were left out of pocket Companies revived in ‘phoenix’ deals more likely to fail, study finds For three decades, the recruitment industry treated Andrew Woosnam well. Having learned his trade during the 1990s, he graduated to create his own firm at the turn of the millennium – which allowed him to bank millions of pounds in salary, dividends and loans and to buy assets including a grand house in Berkshire once owned by the comedians Dawn French and Lenny Henry.

Read →
Bust companies revived in ‘phoenix’ deals more likely to fail again, study finds
business

Bust companies revived in ‘phoenix’ deals more likely to fail again, study finds

Exclusive: research for the Guardian shows ‘pre-pack’ deals with former management also pay far less to creditors The boss whose twice-bust business appears to be back Insolvent businesses reacquired by their previous management in “pre-pack” administrations are much more likely to fail again and tend to repay far less to creditors, research for the Guardian suggests. The study is the latest to raise questions about the practice of “phoenixism” – accounting’s controversial art of liquidating companies to allow directors to return with a new entity, free of debts.

Read →
Nationwide to cut 275 jobs in latest round since takeover of Virgin Money
business

Nationwide to cut 275 jobs in latest round since takeover of Virgin Money

Bosses tell staff cuts part of effort to ‘simplify’ operations and ‘remove duplication’ across wider workforce Nationwide building society is slashing another 275 jobs in the latest round of cuts since bank bosses pushed through a £2.9bn takeover of Virgin Money. Bosses made the announcement to staff on Wednesday, saying it was part of efforts to simplify the bank’s operations and “remove duplication” after absorbing thousands of staff in to the group’s wider workforce.

Read →
Mahama describes AfCFTA as Africa’s ‘greatest architecture for conflict prevention’
business

Mahama describes AfCFTA as Africa’s ‘greatest architecture for conflict prevention’

President John Dramani Mahama has called for deeper economic integration among African countries, describing the African Continental Free Trade Area (AfCFTA) as a major instrument for preventing conflict and strengthening peaceful relations across the continent. Speaking at the 12th Tana High-Level Forum on Peace in Africa in Bahir Dar, Ethiopia, President Mahama presented the 2026 State of Peace and Security in Africa Report, covering developments from January 2025 to June 2026.

Read →
Africa needs stronger digital payment links to unlock regional trade – Femi Osinbajo
business

Africa needs stronger digital payment links to unlock regional trade – Femi Osinbajo

Professor Yemi Osinbajo, a former Vice-President of Nigeria, has called for stronger cooperation among African countries to improve cross-border payments, strengthen digital integration and support trade and investment across the continent. Mr Owureku Asare, Director of the Fintech and Innovation Office at the Bank of Ghana, highlighted Ghana’s experience in developing payment infrastructure to improve connectivity among banks, microfinance institutions and other service providers.

Read →
PIAC seeks details of petroleum funds allocated to Big Push projects
business

PIAC seeks details of petroleum funds allocated to Big Push projects

The Public Interest and Accountability Committee (PIAC) released its 2026 semi-annual report on Ghana’s petroleum revenue management, noting that additional information on how the government uses petroleum revenues allocated to the national budget would strengthen its assessment of government expenditure. Mr Richard Ellimah, Chairman of PIAC, said the Committee had yet to receive information from the Ministry of Finance on the utilisation of the Annual Budget Funding Amount (ABFA), which limited its ability to fully assess expenditure under the programme.

Read →
NRSA praises Sunyani inner ring road project, raises concern over tricycle speeding
business

NRSA praises Sunyani inner ring road project, raises concern over tricycle speeding

The National Road Safety Authority (NRSA) in the Bono Region has lauded the quality of work on the Sunyani-Inner Ring Road Project, being funded by the government’s “Big Push” Road Infrastructure programme. Mr Gabriel Kwame Okyere, the Public Relations Officer at the Bono Regional Office of the NRSA, however, cautioned tricycle riders in particular against reckless riding.

Read →
GoldBod will not compromise LBMA certification for galamsey – Minkah
business

GoldBod will not compromise LBMA certification for galamsey – Minkah

The Ghana Gold Board (GoldBod) has rejected suggestions that it would support illegal mining, insisting that doing so would undermine its efforts to secure certification from the London Bullion Market Association (LBMA). “Nobody should fall under any delusion that the CEO of GoldBod, whose institution is aspiring for LBMA Certification, would endorse illegal mining, especially when the prerequisite for LBMA Certification is responsible sourcing,” he said.

Read →
Emirati-linked firms’ ownership of Manchester land ‘up 39%’ in ten years
business

Emirati-linked firms’ ownership of Manchester land ‘up 39%’ in ten years

Economic ties face scrutiny after scandal over Manchester City’s financial rules ‘That’s the way the city works’: how the UAE changed the face of Andy Burnham’s Manchester Emirati-linked companies own almost 40% more land in Greater Manchester than a decade ago, Guardian analysis reveals, as the city’s economic ties face scrutiny after Manchester City’s financial rules scandal. The number of land titles in Greater Manchester owned by United Arab Emirates-linked companies increased from 51 in 2016 to 168 in 2026, equivalent to a 39% rise in the total area owned in a decade, from 73 to 101 hecta

Read →