Channel 4 is reportedly preparing to cut more than 200 jobs as it deals with a slump in TV advertising.
The Guardian reports that management is looking to cut its wage bill by £108m after the number of employees has soared to a record 1,200.
Factory bosses say the UK is more attractive to manufacturers than elsewhere in Europe, as a “new optimism” sweeps through the industry.
Most manufacturing leaders believe the UK is a competitive place for their business, setting them further apart from European rivals, according to a new report from industry bodies Make UK and PwC.
According to the report, a majority of executives believe that the UK’s competitiveness against Germany, France, Italy and Spain will grow rather than shrink this year.
5 things to start your day
1) OpenAI warns that copyright crackdown could doom ChatGPT | Banning news and books for training chatbots risks making the service ‘impossible’ to create
2) Belstaff turns to Sir Jim Ratcliffe to tide it over as losses mount | Iconic British jacket brand faces ‘significant uncertainty’ after £28.9m hit
3) Increase in dementia cases risks intensifying family legal battles | Lawyers warn that nursing care and inheritance disputes will increase sharply as the disease spreads
4) Musk denies drug use claims amid concerns from Tesla executives | The entrepreneur said three years of random drug tests “did not detect even traces of drugs or alcohol.”
5) Oil and gas will power the UK for decades to come, says North Sea transition chief | Interview: Stuart Payne on why new drilling licenses are important for UK energy security
what happened overnight
Congressional leaders announce top-level agreement on spending totals, paving the way for more detailed talks on the content of fiscal policy and reducing the likelihood of a partial U.S. government shutdown later this month. there is a possibility.
President Joe Biden says the $1.6 trillion in federal spending limits agreed to by Democratic and Republican leaders in Congress will bring us “one step closer to preventing an unnecessary government shutdown and protecting our nation’s critical priorities.” Stated.
But a more detailed agreement must be negotiated and passed by January 19 to avoid leaving parts of the public sector underfunded.
Meanwhile, major Asian stock markets fell after Wall Street posted its worst week since Halloween.
Oil prices fell after Saudi Arabia cut oil prices for Asian markets to a 27-month low on Sunday.
Hong Kong’s Hang Seng fell 1.9% to 16,187.00, led by technology stocks, which fell 2.4%. The Shanghai Composite Index fell 1.2% to 2,894.58.
China on Sunday announced sanctions against five U.S. defense companies in response to U.S. arms sales to Taiwan and U.S. sanctions on Chinese companies and individuals. The announcement came less than a week before Taiwan’s presidential election, which will focus on relations between the autonomous territory and China, which claims it as its own territory.
In South Korea, the Kospi fell 0.2% to 2,572.41, while Australia’s S&P/ASX200 index fell 0.5% to 7,453.40.
Taiwan’s Taiex rose 0.5% and Bangkok’s SET fell 0.5%.