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Friday newspaper round-up: Pensions, vapes, hiring, Deloitte

(Sharecast News) - Maintaining the triple lock on state pensions could add as much as £45bn to the welfare bill by 2050, putting "insurmountable pressure" on the government to increase the minimum retirement age, according to the Institute for Fiscal Studies. In a report published ahead of the release next week of official data for earnings growth, which will be used to set the annual increase in pensions, the IFS estimates spending on retirees could rise by a further £2bn from April 2024. - Guardian Five million single-use vapes are being thrown away in the UK every week, a fourfold increase on 2022, research has found. This amounts to eight vapes a second being discarded, with the lithium in the products enough to create 5,000 electric car batteries a year. - Guardian

Hiring is falling at the fastest pace in more than three years in a sign that soaring interest rates are starting to cool down the jobs market. Employers are feeling increasingly cautious about taking on new staff and many have hiring freezes in place, recruiters reported, according to a closely watched survey by accountancy giant KPMG and industry body the Recruitment & Employment Confederation (REC). - Telegraph

Deloitte has cemented its position as the biggest of the Big Four accounting firms by winning business advising on climate change and cybersecurity risks even as its financial advisory services suffered amid a dearth of takeovers. The group's global revenue in its latest financial year, which ran until the end of May, rose 14.9 per cent to $64.9 billion, a fresh record and higher than its rivals EY, KPMG and PwC. - The Times

The self-styled "voice of British business" and the manufacturers' group Make UK have confirmed they are in talks about areas of potential collaboration that could be the prelude to a full-blown merger. "Make UK and the CBI are in early-stage discussions to explore how the two parties might work closer together," Make UK, which speaks for 20,000 companies and three million people in the manufacturing and engineering sectors, told Sky News. "These discussions are positive and constructive but remain at an early stage." - The Times

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Thursday newspaper round-up: Border controls, McKinsey, KPMG
(Sharecast News) - New post-Brexit UK border controls coming into force later this month will cost British businesses £2bn and fuel higher inflation, according to a report warning that UK-EU trade will be damaged as a result. With less than a month before the introduction of new checks on animal and plant products from 30 April, the insurer Allianz Trade said the controls agreed under Boris Johnson's Brexit deal could add 10% to import costs over the first year. - Guardian
Wednesday newspaper round-up: Shoplifting, EnQuest, Klarna
(Sharecast News) - The government is investing more than £55m in expanding facial recognition systems - including vans that will scan crowded high streets - as part of a renewed crackdown on shoplifting. The scheme was announced alongside plans for tougher punishments for serial or abusive shoplifters in England and Wales, including being forced to wear a tag to ensure they do not revisit the scene of their crime, under a new standalone criminal offence of assaulting a retail worker. - Guardian
Tuesday newspaper round-up: Pharma companies, Puig, Thames Water
(Sharecast News) - Rachel Reeves has said an incoming Labour government would launch a £5bn crackdown on tax avoiders to close a gap in its spending plans exposed by Jeremy Hunt scrapping the non-dom regime to finance tax cuts. Warning households and businesses that Labour was prepared to adopt tough measures to tackle tax fraud and non-compliance, Reeves said the funding would be used to pay for free school breakfast clubs and additional NHS appointments. - Guardian
Monday newspaper round-up: Boeing, rent rises, e-scooters, Santander UK
(Sharecast News) - US airline regulators have launched an investigation after an engine cowling on a Boeing plane fell off during takeoff and struck the wing flap. The Southwest Airlines flight 3695 rose to about 10,300ft (3,140 metres) before returning safely 25 minutes after takeoff to Denver international airport at about 8.15am local time on Sunday. It was towed to the gate after landing. The Boeing aircraft with 135 passengers and six crew members aboard had been headed to Houston. No one was injured. - Guardian

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