Business
Budget is ‘critical point’ for Unite’s continued Labour support – Sharon Graham
The upcoming Budget is a “critical point” for whether Unite members choose to disaffiliate from Labour, the union’s leader has said.
Unite general secretary Sharon Graham warned last month that workers could turn their backs on the party if they do not change course.
As Labour’s party conference began in Liverpool, she said it was getting “harder and harder to justify” affiliation with Labour and that the “time is getting close” to make a choice.
“My members are scratching their heads and they’re asking, ‘how does a Labour Government allow two oil refineries to shut with absolutely no plan? How have we got a net zero plan that has workers at the end of the queue? Where is the plan for workers? Where is the transition? Where is the money?’,” she told Sunday Morning With Trevor Phillips on Sky News.
“And so for my members, whether it’s public sector workers all the way through to defence, are asking ‘What is happening here?’
“Now when that question cannot be answered, when we’re effectively saying ‘look, actually we cannot answer why we’re still affiliated’, then absolutely I think our members will choose to disaffiliate, and that time is getting close. “
Ms Graham was asked how long Sir Keir Starmer has before Unite makes that decision.
“The Budget is an absolutely critical point of us knowing whether direction is going to change,” she said.
She called for a loosening of the fiscal rules Chancellor Rachel Reeves has pledged to stick to.
“Those fiscal rules need to be changed. Other countries are doing it. We should stop dancing around our handbag and do that.
“If that Budget is essentially nothing, it’s insipid, I think we’ve got a real problem our hands, because without the money to make the change, then nothing is going to change.”
Housing Secretary Steve Reed dismissed questions about potentially losing the support of Unite.
Asked if the fiscal rules are more important than keeping the union’s backing, Mr Reed told the Sunday Morning With Trevor Phillips programme on Sky News: “I don’t think Unite will walk.
“There is more money going into Unite members’ pockets, just like there’s more money going to everybody’s pockets, because wages are now rising faster than prices.”
Ms Graham said people feel they are “being kicked” and Labour needs to “help those people up”.
She also called for Labour to “wake up” and “do Labour things”.
The Unite boss said members are not that interested in Labour’s deputy leadership contest.
Amid speculation about a possible leadership challenge from Greater Manchester mayor Andy Burnham, she said there was “no point” changing around the person at the top if policies stay the same.
Business
Forget Hot Stock Tips: These 2 Money Habits Alone Can Help You Build Wealth Up To Rs 2 Crore
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Many investors focus on equities and the stock market, often overlooking a crucial component that should be part of every investment portfolio
Nitin Kaushik said that instead of chasing returns, people should focus on their behaviour, investment ratios, and discipline. (Representative/Shutterstock)
Social media is flooded with ‘quick riches’ advice and flashy stock tips, yet few ever see real results. Wealth creation, experts say, is far simpler than these trends suggest. Cutting through the noise, a chartered accountant has now shared a clear, practical mantra for building wealth, a formula he says works no matter one’s income is, whether it’s Rs 1 lakh or Rs 10 lakh.
Chartered accountant Nitin Kaushik took to X to explain that wealth stems from good habits, not just high returns.
In his post, he wrote, “Two money habits can make you rich quietly, while others stay busy chasing investments.” He believes real wealth is built through calm, consistent actions—small monthly investments, a clear budget, and periodic rebalancing.
According to Nitin Kaushik, the real problem is that most people lack a system. Whether someone earns Rs 100,000 or Rs 10 lakh, money disappears quickly if it isn’t directed with purpose. “Becoming rich doesn’t start with earnings, but with intentions,” he noted, emphasising that wealth depends more on mindset and discipline than on income.
Habit 1: Compound Interest
The first habit Kaushik highlighted is the power of compound interest, which he called “a force of nature.” Kaushik explained that investing Rs 25,000 a month at a 12% annual return can grow to about Rs 20 lakh in five years, but the same habit maintained for 20 years can build roughly Rs 2.4 crore. He advised that one should start as early as possible to let compounding work in thier favour.
Habit 2: Portfolio Rebalancing
The second habit is portfolio rebalancing. This involves adjusting investments periodically to maintain a balance between equity and debt (stocks and bonds).
He explained, “If you initially hold 70 percent equity and 30 percent debt, but as the market rises, the ratio becomes 85:15, rebalancing helps bring it back to the correct level.” Kaushik added, “It’s like pruning a tree. Pruning is not done to harm it, but to make it stronger.”
Kaushik summed up his thoughts in one line: “Compound interest builds wealth, rebalancing preserves it. One rewards your patience, the other secures your growth.” He added that instead of chasing returns, people should focus on their behaviour, investment ratios, and discipline, as these are the factors truly within their control.
Why Is It Important To Invest In Debt Funds?
Most people invest in equity funds or the stock market, but debt funds are often overlooked, even though they should be an essential part of every investment portfolio. Debt funds are mutual funds that invest in government bonds, corporate bonds, treasury bills, and other fixed-income securities. In simple terms, these funds lend money to companies or the government and earn income through interest.
The benefits of debt funds include:
- Stable returns and lower risk: Debt funds carry less risk and offer steady, predictable returns, making them a safer option for those wary of stock market volatility.
- Diversification: Debt funds balance a portfolio by providing stable returns when equities fall, maintaining overall balance and stability.
- Liquidity: Many debt funds allow for easy and quick withdrawals, unlike fixed deposits with lock-in periods, making them ideal for sudden cash needs.
- Tax benefits: Long-term debt fund investments (over 3 years) offer indexation benefits, reducing tax burdens and making them more tax-efficient than fixed deposits.
- Protection and opportunities from interest rate fluctuations: Debt funds can provide good returns when interest rates fall, as the value of older high-interest bonds increases, offering opportunities for investors.
- Ideal for new investors: Debt funds are a great entry point for those new to mutual funds, helping build investment habits with less risk.
Disclaimer:Disclaimer: The views and investment tips by experts in this News18.com report are their own and not those of the website or its management. Users are advised to check with certified experts before taking any investment decisions.
November 14, 2025, 17:49 IST
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Jaguar Land Rover has plunged to a heavy loss after booking almost £200 million in costs linked to a major cyber attack which saw the firm shut its factories for more than a month.
The UK’s largest car manufacturer said it has “made strong progress” in recovering its operations at pace since the attack.
JLR stopped production across its UK factories for five weeks from September 1 after being targeted by hackers a day earlier.
All of the group’s manufacturing sites – including factories in Solihull, West Midlands, and Halewood, Merseyside – restarted operations last month.
However, it saw revenues plummet by more than £1 billion, around 24%, to £4.9 billion for the quarter to September.
It also swung to an underlying loss of £485 million over the quarter, sliding from a profit before tax and exceptional items of nearly £400 million over the same period in 2024.
In the update, it booked £196 million of extra costs linked to the cyber attack and £42 million related to voluntary redundancies.
The company said its performance was also impacted by US tariffs and a planned wind down in the production of previous Jaguar models.
The biggest shareholders in hotel chain PPHE have said they are in talks over options for the business, including selling stakes.
The company, which runs Park Plaza hotels in Europe, saw shares jump in early trading on Friday as a result.
It followed reports from Bloomberg that the process could lead to the business being taken private.
Founder Eli Papouchado and PPHE president Boris Ivesha confirmed they are planning “to hold a small handful of meetings with financial investors” over potential options for the business.
The shareholders, who own around 44% of the business, said options include investors “contributing growth capital to PPHE” and the “potential partial monetisation of their stakes”.
In a statement, they added: “The shareholders are not in discussions with any parties and are not in receipt of any offer for their collective stake in PPHE.
“There can be no certainty that any such offer will be made.”
Israeli hotelier Mr Papouchado’s family trust owns around 33% of the company.
The company, which has a property estate valued at £2.2 billion at the end of last year, also runs sites under the Art’otel brand, including London locations in Battersea Power Station and Hoxton.
Shares in the business rose by 10.5% to 1,658p on Friday morning, giving the company a market valuation of around £695 million.
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Forget Hot Stock Tips: These 2 Money Habits Alone Can Help You Build Wealth Up To Rs 2 Crore
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