Latest news with #RainNewton-Smith
Fibre2Fashion
5 days ago
- Business
- Fibre2Fashion
Business leaders mark UKâIndia FTA as historic step forward
Business leaders have hailed the signing of the UK–India Free Trade Agreement as a 'historic milestone' poised to unlock £4.8 billion (~$6.46 billion) in economic growth. The landmark deal was officially signed by UK Business and Trade Secretary Jonathan Reynolds and India's Commerce and Industry Minister Piyush Goyal, marking a significant deepening of bilateral ties between two of the world's fastest-growing economies. Welcomed across key sectors, the deal promises to slash trade barriers and strengthen long-term commercial collaboration, Department for Business and Trade and Jonathan Reynolds MP, said in a release. Business leaders have hailed the UKâ€'India Free Trade Agreement as a £4.8 billion (~$6.46 billion) boost to growth, slashing trade barriers and deepening ties. CBI's Rain Newton-Smith called it a strong pro-trade signal, while John Smedley's Bill Leach said the FTA would expand access to UK luxury knitwear for India's fast-growing premium market. 'In an era of rising protectionism, today's (July 24, 2025) announcement sends a powerful signal that the UK is open for business and remains resolute in its commitment to free and fair trade. The CBI looks forward to working closely alongside the Confederation of Indian Industry to turn ambition into action and negotiation into real-world impact. Ensuring this agreement delivers tangible benefits for businesses on both sides will be critical to meeting the UK's growth ambitions,' said Rain Newton-Smith, CEO, CBI. From the luxury retail sector, Bill Leach, global sales director at heritage knitwear brand John Smedley Ltd, said the company looks forward to expanding its footprint in India, one of the world's fastest-growing luxury markets. 'John Smedley knitwear is already sold in over 50 countries around the world, and now that the FTA has been signed, we shall very much look forward to ensuring that an ever-increasing number of discerning luxury consumers in India will enjoy greater access to The World's Finest Knitwear,' Leach said. Fibre2Fashion News Desk (HU)
Scottish Sun
20-07-2025
- Business
- Scottish Sun
Women nearing retirement to get £5,000 a year less in private pension income than men, experts warn
Four in ten workers are under-saving for their golden years PENSION INEQUALITY Women nearing retirement to get £5,000 a year less in private pension income than men, experts warn Click to share on X/Twitter (Opens in new window) Click to share on Facebook (Opens in new window) WOMEN nearing retirement can expect to get £5,000 a year less in private pension income than men, experts say. Fresh analysis shows they will typically receive around £100 per week compared to a little over £200 a week for blokes. Sign up for Scottish Sun newsletter Sign up 2 People deserve to know they'll have a decent income in retirement — but the truth is that is not the reality facing many, said Liz Kendall The greater likelihood of a history of part-time jobs and caring responsibilities may contribute to women getting less. Resulting lower National Insurance contributions could also curtail their state pension. The introduction of automatic pension enrolment from 2012 has helped women and men, the experts insist. But retirees in 2050 are predicted to have £800 — eight per cent — less private pension income than those today. Meanwhile, four in ten workers — nearly 15million — are under-saving for their golden years, with low earners and the self-employed hit the hardest, research shows. The Government will today revive the Pension Commission to address the findings. Work and Pensions Secretary Liz Kendall said: 'People deserve to know they'll have a decent income in retirement — but the truth is that is not the reality facing many. 'The Pensions Commission laid the groundwork, and now, two decades later, we are reviving it to tackle the barriers that stop too many saving in the first place.' The British Chambers of Commerce said that any costs to businesses on top of National Insurance contributions and the Employment Rights Bill would have to be 'gradual'. And they must be paused if economic conditions worsen, giving businesses time to adjust to increased costs, it added. Rain Newton-Smith, director-general of the Confederation of British Industry, said there must be a consensus in business, Government and society that the system is affordable for employers and workers. Pension expert on how to retire early- Scotish Widows
North Wales Chronicle
05-06-2025
- Business
- North Wales Chronicle
Centrica strikes £20 billion gas supply deal with Equinor
The firms said the new deal will see Centrica take delivery of five billion cubic metres of gas per year up to 2035. Chris O'Shea, boss of Centrica, said the deal ensures an improvement in UK energy security and stressed that the business is working with the Government to build further gas storage. It comes ahead of a speech from the boss of the Confederation of British Industry, who is calling on the Government to come up with a 'serious plan' to cut energy costs and invest in energy security. Rain Newton-Smith, chief executive of the business group, will say that Britain must address soaring energy tariffs as firms struggle under the weight of crippling power bills on top of tax and wage hikes, in a speech later on Thursday. Around half of all UK gas was imported from Norway last year, after a recent increase in demand following the Russian invasion of Ukraine. Centrica added that the contract will also call for natural gas sales to be replaced with hydrogen in the future. Mr O'Shea said: 'Equinor is a valued partner and this landmark agreement underscores the vital role that natural gas plays as a transition fuel as we navigate towards a low carbon energy future. 'Over the last few years, we've seen first-hand how important energy security is. 'Today's deal not only ensures the UK's energy security has improved but also paves the way for a burgeoning hydrogen market. 'The deal represents a significant investment in the UK's future, showing that Centrica will make bold investments that drive forward the energy transition while delivering value for our shareholders.' Equinor's president and chief executive Anders Opedal said: 'For nearly 50 years, we have supported the UK's energy security with reliable gas supplies. 'In addition, we have advanced offshore wind and pioneered decarbonisation solutions. 'We are pleased to strengthen the energy partnership further through a new gas sales agreement with our longstanding customer and partner Centrica.'
Leader Live
05-06-2025
- Business
- Leader Live
Centrica strikes £20 billion gas supply deal with Equinor
The firms said the new deal will see Centrica take delivery of five billion cubic metres of gas per year up to 2035. Chris O'Shea, boss of Centrica, said the deal ensures an improvement in UK energy security and stressed that the business is working with the Government to build further gas storage. It comes ahead of a speech from the boss of the Confederation of British Industry, who is calling on the Government to come up with a 'serious plan' to cut energy costs and invest in energy security. Rain Newton-Smith, chief executive of the business group, will say that Britain must address soaring energy tariffs as firms struggle under the weight of crippling power bills on top of tax and wage hikes, in a speech later on Thursday. Around half of all UK gas was imported from Norway last year, after a recent increase in demand following the Russian invasion of Ukraine. Centrica added that the contract will also call for natural gas sales to be replaced with hydrogen in the future. Mr O'Shea said: 'Equinor is a valued partner and this landmark agreement underscores the vital role that natural gas plays as a transition fuel as we navigate towards a low carbon energy future. 'Over the last few years, we've seen first-hand how important energy security is. 'Today's deal not only ensures the UK's energy security has improved but also paves the way for a burgeoning hydrogen market. 'The deal represents a significant investment in the UK's future, showing that Centrica will make bold investments that drive forward the energy transition while delivering value for our shareholders.' Equinor's president and chief executive Anders Opedal said: 'For nearly 50 years, we have supported the UK's energy security with reliable gas supplies. 'In addition, we have advanced offshore wind and pioneered decarbonisation solutions. 'We are pleased to strengthen the energy partnership further through a new gas sales agreement with our longstanding customer and partner Centrica.'
South Wales Guardian
05-06-2025
- Business
- South Wales Guardian
Centrica strikes £20 billion gas supply deal with Equinor
The firms said the new deal will see Centrica take delivery of five billion cubic metres of gas per year up to 2035. Chris O'Shea, boss of Centrica, said the deal ensures an improvement in UK energy security and stressed that the business is working with the Government to build further gas storage. It comes ahead of a speech from the boss of the Confederation of British Industry, who is calling on the Government to come up with a 'serious plan' to cut energy costs and invest in energy security. Rain Newton-Smith, chief executive of the business group, will say that Britain must address soaring energy tariffs as firms struggle under the weight of crippling power bills on top of tax and wage hikes, in a speech later on Thursday. Around half of all UK gas was imported from Norway last year, after a recent increase in demand following the Russian invasion of Ukraine. Centrica added that the contract will also call for natural gas sales to be replaced with hydrogen in the future. Mr O'Shea said: 'Equinor is a valued partner and this landmark agreement underscores the vital role that natural gas plays as a transition fuel as we navigate towards a low carbon energy future. 'Over the last few years, we've seen first-hand how important energy security is. 'Today's deal not only ensures the UK's energy security has improved but also paves the way for a burgeoning hydrogen market. 'The deal represents a significant investment in the UK's future, showing that Centrica will make bold investments that drive forward the energy transition while delivering value for our shareholders.' Equinor's president and chief executive Anders Opedal said: 'For nearly 50 years, we have supported the UK's energy security with reliable gas supplies. 'In addition, we have advanced offshore wind and pioneered decarbonisation solutions. 'We are pleased to strengthen the energy partnership further through a new gas sales agreement with our longstanding customer and partner Centrica.'
