Business
JLR recovery set to have lifted economy in October despite pre-Budget nerves
A manufacturing rebound led by Jaguar Land Rover’s (JLR) recovery could deliver a lift to economic growth in October despite pre-Budget nerves weighing on businesses, economists think.
Official figures will show estimates for UK gross domestic product (GDP) on Friday December 12.
Some businesses have indicated that activity in the economy slowed in the lead up to the Budget, delivered on November 26, as speculation over possible tax measures grew.
But economists think that an improvement in manufacturing could help lift overall growth.
GDP fell by 0.1% in September, with the Office for National Statistics (ONS) reporting that a “marked fall” in car production during the month reflected the impact of a cyber attack on JLR.
The carmaker was forced to pause production of its cars for more than a month after being targeted by hackers, having a knock-on impact for the wider sector and resulting in a costly recovery.
“Given that production resumed gradually from mid-October, there’s likely to have been a partial rebound in manufacturing output that month,” Andrew Goodwin, chief UK economist for Oxford Economics, said.
He is expecting a flat month for the services sector to leave GDP up 0.1% for October.
Economists for Investec are forecasting a slightly bigger increase of 0.2% for the month, which it said was “consistent with our view that the economy will have expanded by close to 1.5% over 2025 as a whole”.
The next dataset will be watched closely for any signs of the impact of uncertainty ahead of the Budget on overall activity.
Former Bank of England chief economist Andy Haldane said last month that speculation was partly to blame for data being weaker than economists were expecting for the third quarter.
He said the prolonged worries over the Budget and leaks over possible tax hikes had “caused businesses and consumers to hunker down”.
Business surveys have also suggested that firms were deferring spending until after the Budget and noticing some hesitancy from households about big purchases.
However, activity in the private sector grew in October with manufacturing returning to growth, according to an influential survey by S&P Global.
Business
Ads for British beef and milk banned following Chris Packham complaint
Two ads promoting British beef and milk have been banned after television presenter and environmental campaigner Chris Packham complained that they misled consumers about the products’ carbon footprints.
Both ads for the Agriculture and Horticulture Development Board’s (AHDB) Let’s Eat Balanced campaign used the carbon footprint of British beef and milk to promote the products, firstly stating: “British beef not only tastes great, but has a carbon footprint that’s half the global average*.”
The asterisk linked to text that stated: “Full lifecycle emissions of CO2 eq (carbon dioxide equivalent) per kg of beef.”
The ad for milk stated: “British milk not only tastes good, but is also produced to world-class standards, and has a carbon footprint a third lower than the global average.”
Packham complained to the Advertising Standards Authority (ASA) that the ads, and specifically the carbon footprint claims, were misleading as they did not reflect the full environmental impact of British meat and dairy.
The AHDB said the ads’ mention of carbon emissions would be understood in relation to the environmental impact of beef and milk that occurred between the “cradle-to-retail” stages.
But the ASA said the average consumer “being reasonably well-informed, observant and circumspect” would understand the claims to apply beyond the retail stage and include actions such as cooking and wastage.
The ASA said: “While we acknowledged the potential difficulties in producing post-retail emissions data, the claims in the ads suggested those emissions were included and we therefore expected the evidence provided to also include them.
“We therefore concluded that the evidence presented was insufficient to support the full life-cycle claims in the ads, which was how the average consumer was likely to interpret them.
“We reminded AHDB that environmental claims should be based on the full life cycle unless the ad stated otherwise.”
AHDB’s director of communications and market development, Will Jackson, said: “Let’s Eat Balanced is doing what it was designed to do, providing clear, factual, evidence-led information about British food, nutrition and farming standards.
“Since the investigation began, we have conducted independent consumer research which found that the majority of respondents interpreted these adverts as relating to the production phase only, from farm to retail.
“This research provides important insight into consumer understanding and supports our belief that consumers were not misled by the information we shared in these two specific adverts.”
Business
Gen Z pros embrace ‘portfolio careers’ as side hustles surge – The Times of India
BENGALURU: India’s Gen Z workforce is embracing what experts describe as “portfolio careers” – balancing multiple professional identities and income streams simultaneously. New research from LinkedIn shows that 75% of Gen Z entrepreneurs in India now manage multiple income streams, significantly higher than the 62% among Gen X entrepreneurs. The findings point to a growing preference among younger professionals for flexibility, autonomy and diversified sources of income. “We’re also seeing the rise of the ‘portfolio era’, with more professionals creating multiple income streams and redefining what a career can look like. This shift is making entrepreneurship more accessible than ever before,” said LinkedIn India country manager Kumaresh Pattabiraman.Rather than depending on a single full-time role, many professionals are simultaneously building businesses, freelancing, consulting, creating online content and monetising specialised skills through digital platforms. The trend comes amid a broader rise in entrepreneurial activity in India. LinkedIn recorded a 104% year-on-year increase in members adding “Founder” to their profiles – the highest growth among all global markets.AI is also emerging as a major enabler of this shift. The report found that 85% of Gen Z entrepreneurs consider AI and digital tools important to their business operations.
Business
Elon Musk said control of OpenAI should go to his children, Sam Altman tells jury
Sam Altman said Elon Musk tried many times for total control of OpenAI, which he’s now suing.
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