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Thursday newspaper round-up: Inflation target, Amazon, Abcam

Thu 19 Oct 2023 07:21

(Sharecast News) - The Bank of England should be set a 3% inflation target and given powers to crash borrowing costs below zero in response to future economic shocks, a leading thinktank has said. The Resolution Foundation said Britain required a big overhaul of its economic toolkit to avoid decades of rising debt or austerity, and called for reforms at the Bank and the Treasury to get a "bigger bang for each buck". - Guardian Amazon is experimenting with a humanoid robot as the technology company increasingly seeks to automate its warehouses. It has started testing Digit, a two-legged ​r​obot that can grasp and lift items, at facilities this week. The device is first being used to shift empty tote boxes. - Guardian

Jeremy Hunt is poised to overhaul how the pensions triple lock is calculated in a move that is expected to save the Treasury £900m a year. In his Autumn Statement next month, the Chancellor is expected to announce that the payout to retirees will rise in line with regular wages at 7.8pc, rather than the 8.5pc surge in total pay when bonuses are taken into account. - Telegraph

The bosses of Abcam, the Cambridge-based biotech firm, are set to receive payouts of $28.8 million on completion of a takeover by the US medical conglomerate Danaher. Alan Hirzel, chief executive, and Michael Baldock, finance chief, are on course to receive $19.2 million and $9.6 million respectively from an incentive scheme if shareholders accept the $5.7 billion bid. - The Times

The UK is on track to lose out on £98 billion of economic growth by 2030 because of an anticipated shortage of 250,000 tradespeople. Net zero targets are increasing demand but young people do not feel encouraged consider such careers, according to a survey from Kingfisher. - The Times

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