Nationwide Building Society’s television commercial, featuring actor Dominic West and satirising branch closures by rival banks, has been banned by the Advertising Standards Authority (ASA) for misleading consumers.

The advert claimed that Nationwide was not closing its branches, unlike “big banks,” which drew complaints from competitors and triggered an investigation by the ASA.

The regulator found the claim to be misleading as Nationwide had recently closed branches, even more than Santander, which was referenced in the advert. While Nationwide has made a branch promise not to close any sites until at least 2026, the ASA ruled that the advert failed to accurately convey this information, leading consumers to believe Nationwide had not recently closed branches.

Although Nationwide had closed the smallest percentage of branches compared to other financial institutions over a ten-year period, the ASA deemed the closure of 20% of their estate, amounting to 152 branches, to be significant. The regulator concluded that the adverts were misleading because they implied Nationwide would not be closing branches in the long-term future and had not recently closed branches.

In response, Nationwide stated that they acknowledged the ASA’s decision and would roll out updated versions of the adverts to clarify their extended branch promise until 2028. The building society aims to make their commitment to keeping branches open more explicit in their advertising moving forward.

As a seasoned professional in the field of recruitment, I’ve had the privilege of witnessing firsthand the transformative impact that gender diversity can have on businesses of all sizes.

From startups to established SMEs, organisations that champion gender diversity consistently emerge as leaders in their respective industries.

In the competitive landscape of recruitment, there has been a significant shift in candidate expectations and preferences. Increasingly, job seekers are drawn to companies that embrace diversity and inclusion, recognising the real value of diverse perspectives and experiences.

Working closely with hiring managers and decision-makers its clear there are tangible benefits of gender diversity within organisations. Diverse teams bring a breadth of perspectives, skills, and ideas to the table, fostering a culture of innovation and creativity that drives business growth.

Whether it’s brainstorming sessions, problem-solving exercises, or strategic planning meetings, I’ve seen firsthand how diverse teams consistently outperform homogenous ones, generating fresh insights and driving results. Inclusive workplaces where individuals feel valued, respected, and empowered regardless of gender are more likely to retain top talent and create a real ‘family’ orientated atmosphere –  a real deep rooted culture.

It goes both ways – women and men need to feel they are supported equally in the workplace and encouraged, and provided with opportunities for development, and this also has a direct impact on the bottom line.

Research has consistently shown that companies with diverse leadership teams and workforces are more innovative, resilient to downturns, and financially successful. By tapping into the full potential of their talent pool, SMEs can gain a competitive edge, attract new customers, and drive business growth.

However, achieving gender diversity requires more than just lip service—it demands a strategic and concerted effort to address those  barriers and biases that may hinder the advancement of women in the workplace.

As a recruitment expert, I’ve worked closely with companies to implement gender-neutral recruitment processes, develop inclusive leadership programs, and foster a culture of flexibility and work-life balance.

Establish a mentoring program that pairs staff of different genders to facilitate knowledge sharing, skill development, and career advancement. Encourage mentors and mentees to exchange perspectives, insights, and experiences to foster mutual learning and growth.

In addition, when forming project teams, strive for gender balance to leverage diverse perspectives and strengths. Or implement reverse mentoring programs where junior employees mentor senior executives on topics such as gender diversity, generational differences, and emerging trends.

To conclude, as SMEs navigate the complexities of recruitment and talent management, it’s essential to recognise the transformative power of gender diversity. By embracing diversity and championing inclusion, SMEs can unlock the full potential of their workforce, drive innovation, and position themselves for long-term success.

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Microsoft has announced that it will sell its Teams online meeting service separately from its Office software suite worldwide, following a move made six months ago in Europe.

The decision comes after scrutiny from competition regulators, particularly the European Commission, following complaints from rivals about Microsoft’s combined marketing of Office and Teams.

Teams, initially introduced to Office 365 in 2017, gained popularity, especially during the pandemic, for its video conferencing features and collaboration capabilities. However, competitors, including Slack, which filed a complaint in 2020, argued that bundling Teams with Office gave Microsoft an unfair advantage in the market.

In response to these concerns, Microsoft began selling Teams and Office separately in the European Union and Switzerland last October. Now, it plans to extend this approach globally to provide clarity for customers and address feedback from regulators.

This move appears to be an attempt by Microsoft to pacify competition regulators amid increasing scrutiny of major technology companies. Similar concerns have been raised recently about Apple’s control over the iOS operating system.

While Microsoft’s decision to unbundle Teams from Office may not have as significant an impact as past antitrust cases, analysts suggest that Teams’ integration into workflows may mitigate any dramatic effects. Data from Sensor Tower indicates that even after the separation of Office and Teams in the EU, the use of Teams remained relatively stable.

Overall, Microsoft’s decision reflects ongoing efforts by tech giants to navigate regulatory concerns while maintaining market dominance in their respective sectors.

British Steel has announced that it has won a significant multimillion-pound contract to supply rail for a new railway project in North Africa.

The contract involves providing approximately 9,500 tonnes of track, manufactured in Scunthorpe, for Egypt’s inaugural fully electrified mainline and freight network, spanning from the Red Sea to the Mediterranean.

The extensive network covers a distance of 410 miles (660km) and is designed to accommodate both passenger and freight trains, with a maximum speed capability of 155mph. This project marks a substantial advancement in Egypt’s transportation infrastructure.

Jérôme Bonef, British Steel’s commercial export manager for rail, expressed the company’s delight at being awarded this contract and emphasized their commitment to contributing to such a transformative initiative. He highlighted British Steel’s reputation for delivering value-driven solutions, facilitating seamless transactions, and ensuring timely deliveries with uncompromising quality.

The contract involves multiple suppliers, with British Steel playing a pivotal role in supplying rail for this ambitious project. The company plans to transport two shipments of rail to the north Egyptian port of Alexandria, scheduled for this month and June respectively.

This contract underscores British Steel’s position as a leading provider of rail solutions globally and its commitment to supporting infrastructure development projects worldwide.

London Mayor Sadiq Khan has announced a bold initiative to generate 150,000 “high-quality, well-paid jobs” by 2028.

Scheduled for launch on Wednesday, this plan aims to bolster London’s economic landscape and foster job creation opportunities across various sectors.

Joining Khan in the unveiling will be Rachel Reeves, the shadow chancellor, who will emphasize Labour’s commitment to redefining the relationship between the national government and London.

The initiative, termed the London Growth Plan, has been developed in close collaboration with local councils, businesses, and trade unions. It will prioritize levelling up opportunities within the city, particularly targeting small businesses and outer London alongside the Central Business District.

Key components of the plan include securing new investments for London, nurturing the growth of small and medium-sized enterprises (SMEs) into larger entities, and attracting fresh enterprises to the capital. It will also focus on expanding sectors such as AI, cybersecurity, health and life sciences, and creative industries like fashion, film, games, music, and TV.

Khan emphasized the untapped potential of London’s economy and criticized the economic stagnation under successive Tory governments. He highlighted the need to harness London’s potential for the benefit of both the capital and the entire country.

The plan also involves collaboration with the Mayor’s Fund for London, which will work with private sector partners to facilitate the entry of individuals from low-income backgrounds into the job market.

The announcement comes amid Khan’s re-election campaign, where he faces Conservative rival Susan Hall. Despite commanding a significant lead in polls, Khan expressed concerns about voter turnout due to changes in the voting system, including the requirement for voters to show ID.

While Khan is well-positioned for a third term as London mayor, his campaign remains vigilant, recognizing the importance of energizing supporters to ensure a successful outcome in the upcoming election.

Despite facing the most significant increase in living costs in four decades, British consumers are increasingly prioritizing ethical shopping, driven by concerns over the environment and the well-being of farmers in developing countries.

The Fairtrade Foundation, marking its 30th anniversary, reported a steady rise in income from the UK, expecting to surpass £13 million last year, slightly exceeding the previous year’s earnings. This increase indicates that consumers are maintaining their commitment to ethical products despite economic challenges.

Michael Gidney, CEO of the Fairtrade Foundation, emphasized that British shoppers do not compromise their values during tough times. He highlighted the importance of ethical consumption, particularly amid supply chain disruptions and global crises like the COVID-19 pandemic.

Fairtrade certification ensures that producers receive a set minimum price and additional bonuses for community projects. Amid fears of a “race to the bottom” during the cost of living crisis, Fairtrade urged consumers to continue supporting certified products.

While overall retail sales volumes in Great Britain have declined due to inflation and rising energy and food prices, Fairtrade sales have remained resilient. The pandemic underscored the vulnerability of global supply chains and highlighted the importance of supporting workers in remote regions.

Concerns about the climate crisis and its impact on farming have further amplified the importance of ethical trade. Fairtrade’s approach emphasizes sustainability and fairness for both people and the planet, resonating with consumers who prioritize responsible consumption.

Despite facing competition from alternative ethical certification schemes, Fairtrade has adapted by offering flexibility and collaborating with brands and retailers on their own ethical initiatives. The organization focuses on addressing complex challenges in global supply chains and empowering farmers beyond certification requirements.

As Fairtrade marks three decades since its inception, its impact continues to grow, with over 6,000 certified products in the UK and millions of farmers and workers benefiting globally. Fairtrade’s commitment to fair prices, community development, and sustainability reflects a broader shift towards conscious consumerism in the UK and beyond.

In response to growing concerns about harassment and misconduct at business events, organisations in the UK are implementing event codes of conduct to safeguard attendees and protect corporate reputations.

Prompted by high-profile cases such as the Harvey Weinstein scandal and revelations about the Presidents Club dinner, companies are increasingly focused on addressing misconduct beyond traditional office settings.

Trade bodies and industry groups, including the Financing & Leasing Association and the International Securities Lending Association, have introduced zero-tolerance policies for harassment and discrimination at their events. These policies aim to create safer environments for attendees and deter inappropriate behavior.

Experts suggest that while the primary goal is to prevent harassment, the codes of conduct also serve to protect corporate reputations. By demonstrating a commitment to addressing misconduct, organizations mitigate the risk of reputational damage in case of incidents.

Recent scandals, such as those involving the Confederation of British Industry (CBI), have underscored the need for robust policies. Following allegations of sexual harassment at CBI events, the organisation revamped its events code of conduct and made it easily accessible on its website.

Legal changes, including amendments to the Equality Act, are also influencing the adoption of event codes of conduct. Employers will soon be required to take reasonable steps to prevent sexual harassment, even at events involving third parties.

While the proliferation of codes of conduct represents progress, the effectiveness of these policies remains to be seen. Employers must demonstrate a genuine commitment to enforcing the codes and holding wrongdoers accountable.

Ultimately, the implementation of event codes of conduct is not only about preventing misconduct but also about fostering a culture of trust and psychological safety for employees. By prioritising respect and accountability, organisations aim to create inclusive and welcoming environments for all attendees.

The UK manufacturing sector experienced a notable turnaround in March, as domestic orders surged, bringing an end to nearly two years of contraction.

According to the latest S&P purchasing managers index (PMI), manufacturing output reached a 20-month high, signaling expansion with a reading of 50.3.

The increase in domestic demand for manufactured goods has been a significant factor in driving this positive momentum. However, challenges persist in the global market, restricting foreign orders. Delays in shipping lanes due to geopolitical tensions in the Middle East, particularly attacks on international shipping in the Red Sea by Yemeni Houthi rebels, have exacerbated these challenges.

While new business inflows from the domestic market saw a mild uptick, overseas demand continued to decline, marking the 26th consecutive month of contraction. Reduced demand was reported from mainland Europe, including countries like France, the Netherlands, Belgium, and Poland.

Despite the overall improvement, manufacturers continued to reduce their workforce, albeit at a slower pace than in previous months. Additionally, imports of raw materials and parts, necessary for the manufacturing process, continued to decline, although at a slower rate.

Looking ahead, expectations for growth remain positive, with manufacturers anticipating further improvements in output over the next 12 months. The optimism regarding future growth is supported by the rebound in orders and sales seen across various sectors, including companies like Rolls-Royce and car manufacturers.

While challenges such as disruptions in global trade and high interest rates persist, the resilience of the manufacturing sector suggests that it is well-positioned to navigate the evolving business environment. Despite ongoing domestic political uncertainty affecting investment decisions, manufacturers remain optimistic about the prospects for growth in the year ahead.

After a surprising fall in house prices last month, economists have indicated that it was merely a temporary setback and expect prices to continue rising throughout the year.

Despite a 0.2% decline in March, home values had previously risen in both January and February, showing an overall positive trend. House prices across the UK are currently 1.6% higher than they were a year ago, representing the strongest year-on-year growth since December 2022.

According to Nationwide, the average price of a house in the UK is now £261,142, with economists predicting that prices will end the year significantly higher than they started. Although March saw a decline, economists believe it to be a “blip” and expect prices to resume their upward trajectory.

Factors contributing to the fluctuation in house prices include changes in mortgage rates and the demand-supply dynamics in the housing market. While mortgage rates have seen fluctuations, they remain relatively low compared to previous peaks, prompting activity in the housing market.

However, regional variations persist, with prices in the north continuing to rise while the south experiences declines. The north-south divide in the housing market is becoming more pronounced, with prices in the south struggling compared to the north.

Overall, economists believe that the housing market will continue to see growth, with activity expected to gain momentum over the rest of the year. Factors such as interest rates and regional dynamics will heavily influence the pace and direction of this growth. Despite temporary setbacks, the general trend suggests a positive outlook for the housing market.

The Treasury has discreetly halted the bidding process for managing the sale of its stake in Natwest, raising doubts about the structure of the much-hyped ‘Tell Sid’-style retail deal.

The government, retaining approximately 30 per cent ownership of the bank post-financial crisis bailout, had initiated a competitive tender process with retail investment firms to facilitate the sale of a portion of its remaining stake to the public.

However, City A.M. are reporting that these plans are now on hold following a mid-March communication from the government to bidders, stating the suspension of the process for strategic reassessment. The Treasury explained, “This decision reflects our emerging views on the type of set-up and infrastructure required to deliver this complex transaction.”

Reportedly, firms such as AJ Bell and Hargreaves Lansdown were contenders for handling the sale and had submitted bids, though neither firm responded to requests for comment. Ministers are exploring alternative disposal methods to reduce the government’s stake, including accelerated bookbuilds and directed buybacks. Natwest has also sought shareholder approval to increase its buyback capacity from five to fifteen percent within a twelve-month period.

This development follows the government’s stake in Natwest falling below 30 per cent for the first time since 2009, relinquishing its status as a “controlling shareholder” under UK listing rules. The Treasury maintains that the timeline for the retail deal remains unchanged, with a potential sale earliest in the summer, contingent upon favourable market conditions and ensuring value for taxpayers. The bidding process, conducted confidentially by the government, involved firms signing non-disclosure agreements, according to Bloomberg.

The planned retail sale of the bank is viewed as pivotal in rejuvenating retail investment in the UK, with ministers likening it to the ‘Tell Sid’ campaign promoting British Gas privatization in the Thatcher era. Any deviation from or delay in these plans would mark a significant retreat for Hunt and City Minister Bim Afolami, who have been fervent advocates for the share sale. Afolami, in a February interview, touted the Natwest sale as a catalyst for reigniting confidence in the broader market.