News

The UK service sector experienced its fifth consecutive month of job cuts in February, with economists attributing this to reduced optimism and ongoing cost pressures. Despite the job losses, the final services PMI reading remained above the 50-point threshold, indicating continued expansion in the sector.

More than 120 women entrepreneurs pitched their business ideas to the "Elevator of Dreams" in London, hoping to gain global exposure and constructive feedback. The event, organized by Aila Money co-founders Nitika Vyas and Elisabeth Prager, aimed to highlight the challenges women face in setting up businesses and showcase the energy and potential of female founders.

Mark Carney, a former governor of both the Bank of England and the Bank of Canada, has been elected as Canada's next prime minister, defeating Justin Trudeau in a dramatic leadership contest. Carney, a relative newcomer to elected politics, has promised to stand up to the United States and defend Canada's interests in the face of President Trump's trade war rhetoric and annexation threats.

Real wages in London have decreased by 5.6% since 2008 when adjusted for inflation, raising concerns about attracting skilled workers amid rising living costs. Experts emphasize that addressing London's stagnant productivity is crucial for economic recovery and wage improvement in the capital and other UK regions.

Elon Musk's Starlink has been awarded a £85,000 contract to improve internet connectivity for healthcare providers in remote areas of the North East and North Cumbria, utilizing satellite technology to bridge coverage gaps and enhance telemedicine capabilities. This initiative aims to ensure reliable medical support for patients regardless of their location.