India's New Labour Codes, effective November 2025, redefine overtime eligibility and calculation. Employees working over 8 hours daily or 48 hours weekly are entitled to at least double their normal wage, with managerial roles potentially qualifying based on duties, not just designation.
Andy Burnham, currently Mayor of Greater Manchester, is positioned to become the UK's next leader following Keir Starmer's resignation announcement. Burnham's political journey, marked by a pivotal moment of being booed at Anfield in 2009, has seen him evolve from a centrist New Labour minister to a 'man of the people' figure promising a politics that understands those outside London.
Keir Starmer announced his resignation as UK Prime Minister and leader of the Labour Party on Monday, citing intense party pressure and plummeting popularity. He will serve as caretaker PM until a new leader is chosen. Andy Burnham and Wes Streeting are seen as potential successors.
New labour code rules require employers to issue detailed appointment letters specifying job roles, wages, and social security benefits. This standardized format, now extended to all sectors, aims to reduce ambiguity and disputes, particularly benefiting employees in informal sectors.
New Indian labour codes consolidate 29 laws into a unified framework, simplifying compliance for employers with single registrations and electronic filings. Employees gain expanded protections, including gratuity for fixed-term workers and schemes for gig workers, enhancing transparency and formalizing employment.
India's new labor codes mandate a 2% annual salary increment for regular contractual workers employed by contractors in central government establishments, effective May 8, 2026. This rule, outlined in Rule 185 of the OSHWC Central Rules, does not apply to direct employees or those in state government establishments.
India's new labour code permits a 4-day workweek, but total weekly hours remain capped at 48. Employees may work up to 12 hours daily. This is optional and state laws may impact implementation.
A new Fabian Society collection urges the UK government to establish a "national care service" funded similarly to the NHS, addressing the long-standing failure to reform social care. The article details past failed attempts by Conservative and Labour governments, highlighting the political challenges and voter reluctance to fund the system. It suggests potential solutions like a "care levy" and centralized funding, emphasizing the need for action before the next general election.
Bank greenlit construction of the Canary Wharf tower last November after Rachel Reeves’ budget spared lenders tax hikes The boss of JP Morgan, Jamie Dimon, has warned he could scrap plans to build a new £3bn UK headquarters in London if Keir Starmer is replaced by a new Labour prime minister who is hostile to banks.JP Morgan revealed plans last November to build the tower in Canary Wharf, hours after lenders were spared tax hikes in Rachel Reeves’s autumn budget, after strong lobbying by the banking sector. Continue reading...
Jamie Dimon says US banking giant could rethink Canary Wharf tower if a future Labour leader targets lendersThe boss of JP Morgan, Jamie Dimon, has warned he could scrap plans to build a new £3bn UK headquarters in London if Keir Starmer is replaced by a new Labour prime minister who is hostile to banks.JP Morgan revealed plans last November to build the tower in Canary Wharf, hours after lenders were spared tax hikes in Rachel Reeves’s autumn budget following strong lobbying by the banking sector. Continue reading...
Rolling coverage of the latest economic and financial newsStarmer on the brink as cabinet ministers urge him to quitGood morning, and welcome to our rolling coverage of business, the financial markets and the world economy.Another UK political crisis is looming over the City of London today, as prime minister Sir Keir Starmer faces more calls to set out a timetable for his departure.With a Cabinet meeting expected this morning, today could be a big day in determining Starmer’s future.In response to the uncertainty, 10-year UK gilt yields rose +8.6bps to 5.00% yesterday, whilst the 30-year yield rose +9.3bps to 5.67%, given expectations that a new Labour leader may face pressure to ease the fiscal rules and raise gilt issuance. Continue reading...
New labour codes have capped weekly working hours at 48, with overtime paid at double the hourly wage. Final rules for wages and industrial relations codes are out, paving the way for implementation. A National Reskilling Fund will support retrenched workers with new skills, financed by employers.
Douglas Alexander defends PM ahead of Commons showdown over Mandelson scandalJudgment day for PM over Mandelson scandalDavid Lammy, the deputy PM and justice secretary who was foreign secretary when Peter Mandelson was made ambassador to the US, has said that he was never told that Mandelson failed the security vetting interview. Mandelson’s was only technically approved because Olly Robbins, the head of Foreign Office, exercised his discretion to ignore the recommendation from the people doing the vetting.Lammy gave his account of this in an interview with Pippa Crerar.The problem ultimately is caused by the prime minister choosing an ambassador with a known integrity problem. Everybody understood that about Peter Mandelson, if you look at his past record.I’m not criticising his abilities, but as the talisman for New Labour, he had a very dodgy series of relationships. We won’t go into that. So there should have been, the prime minister should have thought through before announcing the appointment how he was going to manage that aspect of choosing Mandelson. Continue reading...
Salaried employees in India face uncertainty as companies await final government notifications on new labour codes and tax rules. While organizations have run simulations, widespread implementation remains delayed. The shift towards higher basic pay (50% of CTC) will increase EPF and gratuity contributions, potentially reducing monthly take-home salary but strengthening long-term retirement benefits. New income tax rules effective April 1 have raised tax-exempt limits on children's education and hostel fees, available only under the old regime.
