Skip to content
Search

Latest Stories

Rolls-Royce to offer its 14,000 employees almost $2,500 each for rising cost of living

The company added it was the first time it was offering a ‘bonus’ that was linked to the economic climate and not performance.

Rolls-Royce to offer its 14,000 employees almost $2,500 each  for rising cost of living

British aircraft engine maker Rolls-Royce Holdings RR.L said it was offering a cash lump sum of 2,000 pounds ($2,458) to about 70% of its UK workforce to help them navigate high living costs.

Britain's economy initially rebounded strongly from the COVID-19 pandemic but is now battling high living costs worsened by a combination of labour shortages, supply chain disruptions, post-Brexit trade problems and war in Ukraine.


The UK aero-engine group said that it would give the cash lump sum to 11,000 shop-floor workers as well as 3,000 junior managers.

In an emailed statement to Reuters, a Rolls-Royce spokesperson said the company was also offering a 4% pay rise back dated to March to 11,000 UK shopfloor workers.

The company added it was the first time it was offering a 'bonus' that was linked to the economic climate and not performance.

Household energy bills in Britain look set to surge by another 40% in October, the industry regulator warned last month.

Rolls-Royce added that 3,000 workers would receive the cash in August, while the other 11,000 would get the amount when the deal was approved by the union.

The move comes days after British Prime Minister Boris Johnson warned that a sharp hike in wages would risk fuelling further price rises, adding that increasing pay to match inflation risked a wage-price spiral.

(Reuters)

More For You

Anna Wintour

Wintour’s style of leadership earned her the nickname “Nuclear Wintour”

Getty Images

Anna Wintour steps down as editor of US Vogue after 37 years

Key points

  • Anna Wintour steps down as editor of US Vogue after 37 years
  • She will remain Vogue’s global editorial director and hold senior roles at Condé Nast
  • Wintour transformed US Vogue into a global fashion authority
  • The 75-year-old has received numerous honours, including the Presidential Medal of Freedom

End of an era at US Vogue

Anna Wintour has stepped down as the editor of US Vogue, bringing to a close a 37-year tenure that redefined the publication and saw her become one of the most influential figures in global fashion.

The announcement was made on Thursday (26 June) during a staff meeting in New York. Wintour, 75, will no longer oversee the day-to-day editorial operations of Vogue’s US edition. However, she will continue to serve as Vogue’s global editorial director and Condé Nast’s chief content officer, maintaining senior leadership roles across the company.

Keep ReadingShow less
Post Office scandal trials 'unlikely before 2028'

FILE PHOTO: A Post Office van parked outside the venue for the Post Office Horizon IT inquiry at Aldwych House on January 11, 2024 in London. (Photo: Getty Images)

Post Office scandal trials 'unlikely before 2028'

THE people responsible for the Post Office Horizon scandal may not face trial until 2028, according to the senior police officer leading the investigation.

Commander Stephen Clayman has said that the process is taking longer because police are now looking at a wider group of people, not just those directly involved in decisions about the faulty Horizon computer system, reported the Telegraph.

Keep ReadingShow less
Trump-Getty

Trump said that while deals are being made with some countries, others may face tariffs.

Getty Images

Trump says major trade deal with India may be finalised soon

US PRESIDENT Donald Trump on Friday said a "very big" trade deal could be finalised with India, suggesting significant movement in the ongoing negotiations between the two countries.

“We are having some great deals. We have one coming up, maybe with India. Very big one. Where we're going to open up India," Trump said at the “Big Beautiful Bill” event at the White House.

Keep ReadingShow less
Nadiya Hussain

She also reassured her followers that “exciting” new projects are on the way

Getty Images

“I won’t always be grateful” says Nadiya Hussain after BBC axes her cookery show

Key points

  • Nadiya Hussain confirms BBC will not renew her cookery series
  • Bake Off winner challenges expectations to remain “grateful”
  • She says hard work and talent, not luck, brought her success
  • Celebrities, including Annie Lennox and Fearne Cotton, show support

BBC ends decade-long collaboration with Bake Off star

Nadiya Hussain has spoken out after the BBC decided not to commission another cookery programme with her. The popular TV chef, who won The Great British Bake Off in 2015, shared her views on social media, stating that she “won’t always be grateful” and should not be expected to remain silent about career setbacks.

The decision ends a nearly 10-year working relationship between the broadcaster and Hussain, who has hosted several well-received cookery shows under the BBC banner. In her latest Instagram video, she addressed the public’s reaction and emphasised her right to expect more from her career.

Keep ReadingShow less
starmer-getty

A total of 126 Labour MPs had publicly supported a move to block the proposals, marking the biggest rebellion under Starmer’s leadership so far. (Photo: Getty Images)

getty images

Starmer government softens welfare cuts after Labour MPs revolt

THE GOVERNMENT has backtracked on plans to reduce disability and sickness benefits following a major rebellion by MPs from within the Labour Party.

Care minister Stephen Kinnock confirmed on Friday that concessions had been made to address concerns raised by lawmakers who opposed the proposed reforms. This comes just days after prime minister Keir Starmer had said he would continue with the changes.

Keep ReadingShow less