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00:00Hello and welcome to the latest Business Bulletin on Monday the 24th of March.
00:04First, the UK has the highest property taxes of any advanced economy in the world.
00:09That's according to new analysis, released as many households and businesses are bracing
00:13for a bills hike next week. The country's property tax burden was 3.7% as a proportion of GDP last
00:20year. Rachel Reeves has denied that Labour's heading towards austerity as she confirmed
00:25plans to cut civil service running costs by 15%. Unions have warned 50,000 people could lose their
00:31jobs and vital services could be damaged. Next is set to reveal a jump in profits for the past
00:37year this week. The retailers seen robust trading despite a fragile consumer backdrop.
00:42They've been among the high street's strongest performance in recent years despite uncertain
00:46economic conditions. They released their full results on Thursday. Sir Martin Turrell's
00:52marketing firm S4 Capital has posted widened annual losses. They've said trading conditions
00:57would remain tough amid a pullback in tech spend and global tariff concerns. The group reported a
01:02pre-tax loss of £330.9 million for the last year. And the deal for investment firm Process
01:09to acquire Just Eat Takeaway for more than €4 billion has taken a step forward. The two companies
01:15published a joint update this morning. They've confirmed they're making good progress on
01:18preparations for the offer and today Process submitted a request for review and approval
01:24of the offer memorandum to the AFM. The deal is expected to be completed by the end of the year
01:29with Just Eat delisting from public markets. That's all for today. More tomorrow.