Job Guarantees and Industry Challenges: Key Stories from the Financial Times

The UK's Labour government plans to require 'job guarantees' for Tata Steel in its restructuring negotiations. The UK consulting sector saw a decline in headcount last year. KKR-owned Accell aims to rebuild trust in Babboe cargo bikes after a quality scandal. SK On faces a crisis amid poor EV sales in Europe and the US.

The Financial Times reports that the New Labour government in the UK is set to implement 'job guarantees' for Tata Steel as the company undergoes restructuring. The business secretary emphasized that these guarantees are essential for any state support package.

Meanwhile, the UK consulting sector experienced a 3% decline in headcount, totaling about 50,000 employees by the end of last year. This decrease includes major firms such as Deloitte, EY, KPMG, and PwC, according to the Management Consultancies Association.

In other news, KKR-owned Accell Group is working to mend its Babboe cargo bike brand's reputation after recalling 22,000 bikes due to safety concerns. The company is now under investigation by Dutch authorities.

Additionally, South Korean EV battery manufacturer SK On has declared a state of emergency as disappointing sales figures in Europe and the US pose significant challenges to its operations.

(With inputs from agencies.)