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A major campaign has been launched to secure inflation-beating pay rises for over three million UK workers, amid continued pressure from rising living costs and stagnant wages.

Sara Jones by Sara Jones
May 18, 2025
in Business, Finance, Markets, News, Social Media, Technology
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Key Developments in Business and Industry This Week
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‘It Was a Privilege’: Twiggy’s Pride at Playing His Part in Attenborough’s Ocean Call-to-Arms

British style icon Twiggy has spoken of her immense pride in contributing to Sir David Attenborough’s latest environmental documentary, which issues a powerful call-to-arms to protect the world’s oceans.

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The former model and actress, who rose to fame in the 1960s, lent her voice and presence to the BBC’s Planet Ocean, a landmark series led by Attenborough that highlights the escalating threats facing marine ecosystems due to climate change, pollution, and overfishing.

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Speaking at the series premiere in London, Twiggy described the project as “one of the most meaningful” of her career. “It was a privilege,” she said. “To stand alongside Sir David and help raise awareness about the plight of our oceans is something I’ll never forget.”

The documentary, praised for its stunning underwater cinematography and urgent message, features a diverse cast of public figures using their platforms to advocate for ocean conservation. Twiggy’s involvement underscores a growing trend of celebrities using their influence to amplify environmental causes.

“Everyone must do their bit,” she added. “If we don’t act now, we risk losing these beautiful ecosystems forever.”

Push for Three Million Workers to Get a Pay Rise Above Inflation

A major campaign has been launched to secure inflation-beating pay rises for over three million UK workers, amid continued pressure from rising living costs and stagnant wages.

The Trades Union Congress (TUC) is calling on employers and the government to ensure that pay increases in 2025 outpace inflation, which has significantly eroded workers’ real incomes over recent years. The campaign specifically targets sectors such as retail, hospitality, and care – industries where wages have lagged despite growing demand and profits.

Push for three million workers to get a pay rise above inflation

Frances O’Grady, TUC General Secretary, said, “It’s time working people got a fair share. Millions of workers kept this country going through tough times – now they deserve a pay rise that actually makes a difference.”

The TUC is urging the government to raise the minimum wage and strengthen workers’ rights to collective bargaining. It argues that boosting wages will also support the wider economy by increasing household spending power.

The call comes as inflation shows signs of stabilising, prompting unions to argue that now is the time to reverse years of pay suppression.

Economists say real wage growth is vital to long-term economic recovery, especially for lower-income families hardest hit by recent economic shocks.

‘No Magic Moment’: Warren Buffett Reveals Reason for Retirement

Legendary investor Warren Buffett has confirmed his gradual step back from day-to-day operations at Berkshire Hathaway, saying there was “no magic moment” behind the decision – just the natural course of time.

The 94-year-old billionaire addressed shareholders at the company’s annual meeting this weekend, marking one of his final public appearances in his long-held role as CEO. Buffett emphasized that his decision was not prompted by any health crisis or major event, but rather a thoughtful transition.

Exclusive | Warren Buffett Reveals He Stepped Down After Finally Feeling  His Age - WSJ

“There wasn’t some sudden epiphany,” Buffett said. “It’s just time. The job is in good hands, and I’m incredibly proud of what we’ve built.”

Buffett’s longtime business partner Charlie Munger passed away in 2023, and succession plans have been increasingly in focus. Greg Abel, currently overseeing Berkshire’s non-insurance operations, is set to take over leadership.

Investors and analysts have long viewed Buffett as the heart of Berkshire Hathaway, but the company has spent years preparing for this shift. Many believe his legacy – built on decades of disciplined value investing – will endure.

“I’ll always be involved in spirit,” Buffett added. “But the future belongs to the next generation.”

Shares of Berkshire Hathaway held steady following the announcement.

ASIC Sues Broking Arm of Investment Bank Macquarie

The Australian Securities and Investments Commission (ASIC) has launched legal proceedings against Macquarie Securities Australia, the broking arm of investment bank Macquarie Group, over widespread failures in accurately reporting short sale transactions.

The regulator alleges that between 2009 and 2024, Macquarie misreported around 1.5 billion short sale transactions due to long-standing software errors. These inaccuracies are said to have affected hundreds of listed securities, distorting the transparency and integrity of the financial markets.

Finance news: ASIC sues broking arm of investment bank Macquarie

According to ASIC, the data errors led to both overstatements and omissions in short selling volumes, with discrepancies in some cases exceeding 50 percent. The commission argues that such systemic failures compromised key market information and potentially misled other market participants for more than a decade.

This action follows a string of recent compliance issues at Macquarie. Last year, the bank was fined a record amount for failing to prevent suspicious trading activity in the electricity futures market. ASIC has since imposed tighter conditions on Macquarie’s financial services licence, including a mandatory remediation program and the appointment of an independent compliance expert.

Macquarie has acknowledged the reporting issues and stated it is reviewing the legal claims, while working to strengthen its internal systems.

Housing Market Surges Following Labour Election Victory

The UK housing market has surged in the wake of the Labour Party’s sweeping general election victory, with investor confidence boosted by the new government’s ambitious housebuilding agenda.

The Labour government, under Prime Minister Keir Starmer, has pledged to deliver 1.5 million new homes over the next five years. The announcement has sparked optimism across the property sector, particularly among housebuilders and developers, who expect a more supportive policy environment.

Share prices of major construction firms rose sharply in the days following the election, reflecting renewed confidence in the market. Analysts say the government’s plans to reform the planning system and increase funding for local authorities could accelerate building approvals and reduce red tape.

What Labour's 2024 Election Win Means for the Housing Market

Labour’s strategy includes fast-tracking planning permissions, freeing up public land, and introducing a stamp duty surcharge on overseas buyers to fund new infrastructure. These measures aim to address the UK’s chronic housing shortage and make homeownership more accessible.

Construction activity is already showing signs of growth, with the sector reporting its strongest performance in over two years. However, ministers acknowledge that meeting their ambitious targets will require a rapid scaling-up of building efforts.

Despite the challenges, the outlook for the housing market appears stronger than it has in years.

Tags: ASIC Sues Broking Arm of Investment Bank Macquariebusiness newsBusiness updatesHousing Market Surges Following Labour Election VictoryPush for Three Million Workers to Get a Pay Rise Above Inflationtech newstechstoryUK newsUK updates‘No Magic Moment’: Warren Buffett Reveals Reason for Retirement
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