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Monday newspaper round-up: JLR, family-owned manufacturing businesses, airline passengers

(Sharecast News) - Professional designers should not feel "threatened" by the rapid growth of generative AI, according to business leaders, despite fears over job losses in the sector. With design and film production companies and manufacturers all adopting AI at an accelerating pace, industry bodies said the technology would be used to enhance the work of designers rather than replace them. - Guardian John Healey will argue the government's plans to boost growth across the whole country will enable the British economy to "turn a corner" despite anxiety over volatile bond markets derailing Labour's crucial first budget. The chancellor is expected to argue that fiscal discipline is "indivisible" from good growth, especially at a time of difficult global headwinds, amid concerns that his cautious approach jars with Andy Burnham's more radical policy plans. - Guardian

The Business Secretary has ruled out financial support for Jaguar Land Rover (JLR) to protect thousands of jobs. Jonathan Reynolds said the Government would not stand in the way of redundancies if that was what was needed to make the carmaker competitive. It follows reports that the UK's largest car manufacturer is to cut 4,000 jobs, with a major redundancy programme expected to be confirmed on Monday. - Telegraph

Family-owned manufacturing businesses are under threat from inheritance tax changes and high energy costs, a report says. Business owners could delay investment, restructure ownership or sell up because of tax liabilities rather than long-term business considerations, according to the report from Make UK, the manufacturers' organisation, and Bishop Fleming, the accountancy firm. - The Times

Airline passengers could be left footing the bill for almost £600 million of cost overruns on Heathrow construction projects in a move that carriers have likened to writing the airport "a blank cheque". An official report into the "capital efficiency" of Heathrow's spending for the five-year period between 2019 and 2024 has found that projects were 61 per cent over budget. Yet in a move that has infuriated the airline industry, the study recommends that Heathrow shareholders be let off nearly all of the bill. - The Times

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Thursday newspaper round-up: Hospitality jobs, household bills, Netflix
(Sharecast News) - Bars, clubs and restaurants will offer up to 100,000 jobs to young people not in employment, education or training (Neet) over the next three years in an effort to give them a first step on the ladder into work. The move comes before the publication of a report on Neets by the former health secretary Alan Milburn, who has warned that the number of young people not in work or education in the UK could rise to 1.25 million over the next five years unless ministers intervene. - Guardian
Wednesday newspaper round-up: Tariffs, BitMEX, Character.AI
(Sharecast News) - The business secretary has hit back at European demands for British tariffs on Chinese imports, saying the government will not change its trade rules because of pressure from Brussels. Jonathan Reynolds warned that the government would not bow to calls from other countries for the UK to hit Chinese vehicles with import taxes, despite political pressure to align with the EU in exchange for deeper future economic ties. - Guardian
Tuesday newspaper round-up: IMF warning, Poundland, Burberry
(Sharecast News) - The global economy "could soon test the limits of resilience", as emergency oil stocks run low and government budgets become overstretched, the International Monetary Fund has warned. In its twice-yearly World Economic Outlook, the IMF said global growth had withstood the Middle East conflict better than feared over the past six months. It said the rerouting of oil supplies away from the strait of Hormuz, and the release of strategic energy stocks, had helped to contain the impact on oil prices from the US-Iran war. - Guardian
Monday newspaper round-up: Budget, van drivers, Heathrow
(Sharecast News) - John Healey has been warned by Britain's leading tax and spending experts that his budget risks being a "work of fiction" unless he sets out plans to cover £35bn in spending pressures. As the war in the Middle East rattles the public finances, the Institute for Fiscal Studies (IFS) said the damage from higher inflation meant the chancellor would need to either top up funds for his current government spending plans or impose deep real-terms cuts by the end of the decade. - Guardian

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