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Kyle seeks to reassure business over workers’ rights concerns

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Kyle seeks to reassure business over workers’ rights concerns



Business Secretary Peter Kyle has hinted at concessions over the Government’s workers’ rights package to ensure it makes it through Parliament and does not damage firms.

Mr Kyle said there would be extensive consultations about the measures in the Employment Rights Bill, insisting it was not a “zero sum” game where either workers or bosses lost out.

Confederation of British Industry (CBI) boss Rain Newton-Smith warned the legislation would take the country “backwards” in its current form.

The legislation is caught in a stand-off between peers and MPs over measures to ban “exploitative” zero-hours contracts and give workers protection against unfair dismissal from their first day in a job.

Asked if the Government would be prepared to accept amendments to end the stand-off, Mr Kyle said: “I’ll do what it takes to get it through, because I need to get on with the real business, which is implementing it.”

Seeking to reassure businesses who have concerns about the legislation, he told reporters at the CBI conference: “Our manifesto committed us to consult, to listen, and that’s what I’ll do.

“The primary legislation that is going through Parliament now commits me to consult in 26 different areas, the law is going to require me to.

“So it has been, yes, a frustration of mine that some of the area that will be filled in by the result of a consultation that meaningfully engages all sides and all voices, has been filled by people projecting onto what their worst fears are of it. But that is not the reality that I will be driving towards.”

Insisting “the voice of people who work in business will be heard” alongside the trade unions, he said “I’m not putting anyone over anyone else”.

The Government would “listen to both sides and all sides in this and to make sure it is not zero sum”.

“I will not pit employer against employee or employee against employer,” he said.

“In the world we’re living in now, the workplace is fundamentally different than it was 10 and 20 years ago. The law has to keep up, regulation has to keep up, and the ability of government to inspire and provide the foundations for growth within individual businesses and higher productivity is what we are set upon.

“And all of the conjecture that you’ve heard about what the Bill will and won’t deliver is based in areas for which the consultation on implementation has not even started.”

Ms Newton-Smith called on the Government to change course on the legislation, claiming businesses had not been listened to.

She said: “Lasting reform takes partnership – not a closed door.”

She told the PA news agency: “If the burden of regulation means that when businesses are trying to implement it, it’s unworkable, then it’s not a lasting solution.”

She suggested there could be a “landing zone” where a six or nine-month probation period could be put in place for workers to address concerns about the unfair dismissal changes.

“I think there’s a really workable solution to many of the areas where the Employment Rights Bill is trying to raise living standards. But how it’s drafted at the moment, it’s going to move us backwards and not create the jobs and opportunities we need to see for our young people, for everyone in the workforce.”

Tory leader Kemi Badenoch condemned the legislation in her CBI speech, saying it “destroys growth” and called for Rachel Reeves to use her Budget to kill it off.

Mrs Badenoch said of the legislation: “If 26 consultations are what you need to fix it then you have a really, really big problem.”

She added: “It is a pure political project. Killing it would be a signal to the world that Britain still understands what makes an economy grow.

“If the Chancellor had any sense, and any regard for business, she would use the Budget to say ‘we got this one wrong’ and drop it.

“It would be the cheapest pro-growth measure in the Red Book.”

She said the right to claim unfair dismissal from the first day of employment means a new hire could lodge a claim with an employment tribunal “before they’ve even worked out where the toilets are”.

The ban on exploitative zero hours contracts that gives workers a right to a contract which reflects their regular hours amounts to a “de facto ban” on seasonal and flexible work, such as over the Christmas period.

The Conservative leader told reporters that pushing ahead with the legislation could see bosses opt for artificial intelligence rather than workers.

She said: “There is no business out there that thinks 26 consultations is a serious response to a bad piece of legislation that should not be starting.

“This is not a growth measure. Businesses are closing down. We have unemployment going up every single month.

“They should just not be doing this at a time when people are worried about AI taking over jobs, people are just going to go to AI. Why would they bother with this?”



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Stock Market Live Updates: Sensex, Nifty Hit Record Highs; Bank Nifty Climbs 60,000 For The First Time

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Stock Market Live Updates: Sensex, Nifty Hit Record Highs; Bank Nifty Climbs 60,000 For The First Time


Stock Market News Live Updates: Indian equity benchmarks opened with a strong gap-up on Monday, December 1, touching fresh record highs, buoyed by a sharp acceleration in Q2FY26 GDP growth to a six-quarter peak of 8.2%. Positive cues from Asian markets further lifted investor sentiment.

The BSE Sensex was trading at 85,994, up 288 points or 0.34%, after touching an all-time high of 86,159 in early deals. The Nifty 50 stood at 26,290, higher by 87 points or 0.33%, after scaling a record intraday high of 26,325.8.

Broader markets also saw gains, with the Midcap index rising 0.27% and the Smallcap index advancing 0.52%.

On the sectoral front, the Nifty Bank hit a historic milestone by crossing the 60,000 mark for the first time, gaining 0.4% to touch a fresh peak of 60,114.05.

Meanwhile, the Metal and PSU Bank indices climbed 0.8% each in early trade.

Global cues

Asia-Pacific markets were mostly lower on Monday as traders assessed fresh Chinese manufacturing data and increasingly priced in the likelihood of a US Federal Reserve rate cut later this month.

According to the CME FedWatch Tool, markets are now assigning an 87.4 per cent probability to a rate cut at the Fed’s December 10 meeting.

China’s factory activity unexpectedly slipped back into contraction in November, with the RatingDog China General Manufacturing PMI by S&P Global easing to 49.9, below expectations of 50.5, as weak domestic demand persisted.

Japan’s Nikkei 225 slipped 1.6 per cent, while the broader Topix declined 0.86 per cent. In South Korea, the Kospi dropped 0.30 per cent and Australia’s S&P/ASX 200 was down 0.31 per cent.

US stock futures were steady in early Asian trade after a positive week on Wall Street. On Friday, in a shortened post-Thanksgiving session, the Nasdaq Composite climbed 0.65 per cent to 23,365.69, its fifth consecutive day of gains.

The S&P 500 rose 0.54 per cent to 6,849.09, while the Dow Jones Industrial Average added 289.30 points, or 0.61 per cent, to close at 47,716.42.



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South Korea: Online retail giant Coupang hit by massive data leak

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South Korea: Online retail giant Coupang hit by massive data leak


Osmond ChiaBusiness reporter

Getty Images Coupang logo on mobile phone screen against a white backgroundGetty Images

Coupang is often described as South Korea’s equivalent of Amazon.com

South Korea’s largest online retailer, Coupang, has apologised for a massive data breach potentially involving nearly 34 million local customer accounts.

The country’s internet authority said that it is investigating the breach and that details from the millions of accounts have likely been exposed.

Coupang is often described as South Korea’s equivalent of Amazon.com. The breach marks the latest in a series of data leaks at major firms in the country, including its telecommunications giant, SK Telecom.

Coupang told the BBC it became aware of the unauthorised access of personal data of about 4,500 customer accounts on 18 November and immediately reported it to the authorities.

But later checks found that some 33.7 million customer accounts – all in South Korea – were likely exposed, said Coupang, adding that the breach is believed to have begun as early as June through a server based overseas.

The exposed data is limited to name, email address, phone number, shipping address and some order histories, Coupang said.

No credit card information or login credentials were leaked. Those details remain securely protected and no action is required from Coupang users at this point, the firm added.

The number of accounts affected by the incident represents more than half of South Korea’s roughly-52 million population.

Coupang, which is founded in South Korea and headquartered in the US, said recently that it had nearly 25 million active users.

Coupang apologised to its customers and warned them to stay alert to scams impersonating the company.

The firm did not give details on who is behind the breach.

South Korean media outlets reported on Sunday that a former Coupang employee from China was suspected of being behind the breach.

The authorities are assessing the scale of the breach as well as whether Coupang had broken any data protection safety rules, South Korea’s Ministry of Science and ICT said in a statement.

“As the breach involves the contact details and addresses of a large number of citizens, the Commission plans to conduct a swift investigation and impose strict sanctions if it finds a violation of the duty to implement safety measures under the Protection Act.”

The incident marks the latest in a series of breaches affecting major South Korean companies this year, despite the country’s reputation for stringent data privacy rules.

SK Telecom, South Korea’s largest mobile operator, was fined nearly $100m (£76m) over a data breach involving more than 20 million subscribers.

In September, Lotte Cards also said the data of nearly three million customers was leaked after a cyber-attack on the credit card firm.



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Agency workers covering for Birmingham bin strikers to join picket lines

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Agency workers covering for Birmingham bin strikers to join picket lines



Agency workers hired to cover Birmingham bin strikers will join them on picket lines on Monday, a union has said.

A rally will be held by Unite The Union at Smithfield Depot on Pershore Street, Birmingham, on Monday morning to mark the first day of strike action by agency refuse workers.

Unite said the Job & Talent agency workers had voted in favour of strike action “over bullying, harassment and the threat of blacklisting at the council’s refuse department two weeks ago”.

The union said the number of agency workers who will join the strike action is “growing daily”.

Strikes by directly-employed bin workers, which have been running since January, could continue beyond May’s local elections.

The directly-employed bin workers voted in favour of extending their industrial action mandate earlier this month.

Unite general secretary Sharon Graham said: “Birmingham council will only resolve this dispute when it stops the appalling treatment of its workforce.

“Agency workers have now joined with directly-employed staff to stand up against the massive injustices done to them.

“Instead of wasting millions more of council taxpayers’ money fighting a dispute it could settle justly for a fraction of the cost, the council needs to return to talks with Unite and put forward a fair deal for all bin workers.

“Strikes will not end until it does.”



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