For the generation that should be in its “peak savings years,” the prospect of retiring on time has shifted from a plan to a prayer.

A newly released Employee Financial Wellness Survey by PwC found that nearly 50% of Gen X employees are pushing back their retirement dates, citing stagnant wages, rising everyday costs, and a lack of liquid savings.

Additionally, only 38% of Gen Xers believe they can retire when they originally planned, and more than half of this demographic expect to withdraw funds from their retirement accounts early to cover short-term costs.

“For employers, this isn’t a future problem. Financial anxiety during peak career years can affect focus and engagement,” PwC researchers write. “If the risks are clear, the question is why more employees aren’t taking action. It’s not a lack of desire. Most employees want stability, confidence and to feel in control. But many don’t feel equipped to get there.”

TEEN INVESTOR BOOM: WHY WALL STREET IS CHASING YOUNGEST GENERATIONS EARLIER THAN EVER

The primary driver of this retirement delay is the inability to save as inflation eats away at monthly expenses, the report notes. Twenty-five percent of the total workforce is living without a buffer, and nearly half cannot meet basic household expenses.

Nearly half of Gen X workers are delaying retirement, PwC reports. (Getty Images)

“[Forty-nine percent] say their compensation isn’t keeping up with costs. As expenses rise faster than income, day-to-day trade-offs are becoming routine. Employees aren’t just feeling squeezed. They’re making difficult financial decisions to stay afloat,” the PwC report continues..

As a result, when Gen Xers cannot afford to leave their current jobs, the entire corporate ladder stalls, creating business risks, with companies facing higher costs as older talent remains on payroll longer than expected.

“When employees dip into retirement funds early or delay retirement altogether, it affects more than personal finances and retirement plan leakage,” the report says. “It may also influence workforce planning, healthcare costs, succession timing and overall organizational stability.”

The findings also show that a significant portion – 41% – of the workforce feel they were never given the tools to manage a crisis of this magnitude, leading to a sense of being “overwhelmed” by financial choices.

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PwC provided a call to action for employees and their employers, encouraging them to reduce the stigma around financial education, foster trust through human coaches, emphasize skill building and focus on day-to-day finances before long-term goals.

“Employees define financial wellness simply: less stress, fewer surprises and the freedom to make financial choices with confidence. For employers, that’s the opportunity.”

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Aidan and Howard Barclay, the eldest sons of the late Sir David Barclay, have narrowly sidestepped bankruptcy after striking an eleventh-hour deal with creditors that has prompted HSBC to abandon its pursuit of the brothers through the High Court.

At a hearing on Tuesday, the bank’s counsel Matthew Abraham told Judge Burton that HSBC was now seeking to have its bankruptcy petitions dismissed following the approval of an Individual Voluntary Arrangement (IVA), the formal alternative to bankruptcy that allows debtors to settle obligations with creditors on agreed terms.

“In the circumstances, the petitioner seeks dismissal of the petitions following approval of the IVA,” Mr Abraham told the court. The arrangement, the court was told, had been waved through at a virtual creditors’ meeting the previous Tuesday. Judge Burton said she was “content in the circumstances” to grant the dismissal. The terms of the agreement remain confidential.

For Aidan, 70, and Howard, 66, the ruling brings a measure of personal reprieve after a wretched run for the once-formidable Barclay business empire, though it does little to mask the scale of value that has bled away from a fortune painstakingly assembled by their father and his late twin, Sir Frederick, through decades of debt-fuelled acquisitions.

HSBC filed its bankruptcy petitions against the brothers in December, citing substantial sums owed in the wake of the family’s logistics business going under. The bank has so far recovered just £1.2 million of a £143.5 million secured loan from the administration of Logistics Group, the parent company behind the Barclay-owned parcel carriers Yodel and ArrowXL.

Logistics Group tipped into administration in March 2024 after HSBC pulled the plug on its facility and the business proved unable to repay. The collapse was a hammer blow not only to the family’s balance sheet but to thousands of SME retailers who relied on Yodel as a low-cost alternative to the dominant carriers.

At an earlier hearing in late March, HSBC had raised “various issues over assets, who owns them and where they come from”, pointed language that hinted at the bank’s reservations about the brothers’ initial proposals to creditors. That those concerns appear to have been resolved sufficiently to secure approval marks a notable, if quiet, victory for the Barclay camp.

The IVA is the latest chapter in the unwinding of one of Britain’s most secretive business dynasties. The family has, in short order, lost control of a series of trophy assets including The Daily Telegraph, The Sunday Telegraph and The Very Group, the online retailer formerly known as Shop Direct.

Last month, Axel Springer, the Berlin-based media group behind Bild and Politico, agreed to acquire Telegraph Media Group for £575 million, seeing off a competing bid from Lord Rothermere’s Daily Mail and General Trust. The sale brought to a close a protracted ownership saga that began when Lloyds Banking Group seized the Telegraph titles in 2023 over unpaid debts owed by the Barclay family’s holding companies.

For Britain’s SME community, the Barclay saga is more than a tabloid spectacle. It stands as a cautionary tale of the perils of leverage, the speed at which a long-built empire can unspool when lenders lose patience, and the practical utility of the IVA mechanism for owner-operators staring down personal liability for corporate debts. Restructuring practitioners have long argued that IVAs remain underused by directors of failed businesses who too often default into formal bankruptcy at significant personal and professional cost.

Whether the brothers’ arrangement holds, and what it ultimately yields for HSBC and the wider creditor pool, will not be known for some time. But for now, at least, Aidan and Howard Barclay live to fight another day.

Jamie Young

Jamie is Senior Reporter at Business Matters, bringing over a decade of experience in UK SME business reporting.
Jamie holds a degree in Business Administration and regularly participates in industry conferences and workshops.

When not reporting on the latest business developments, Jamie is passionate about mentoring up-and-coming journalists and entrepreneurs to inspire the next generation of business leaders.

NEW YORK — Shaquille O’Neal, one of the most dominant big men in NBA history, delivered high praise for San Antonio Spurs phenom Victor Wembanyama, declaring the 22-year-old French star “the first perfect big man that’s ever created” during a passionate segment on TNT’s “Inside the NBA.”

The moment, which quickly went viral after Tuesday night’s playoff coverage, came as the panel discussed the Spurs’ series-clinching victory over the Portland Trail Blazers. O’Neal, who has historically been critical of modern big men for their perimeter-oriented styles, made a rare and glowing exception for Wembanyama.

“I think Wemby is the first perfect big man that’s ever created,” O’Neal said. “Can shoot free throws, play defense, play offense. He’s a great team player. I’m happy for the Spurs. I’m happy for Wemby. And for me in a long time, he’s a joy to watch.”

The comments stunned co-hosts Charles Barkley, Kenny Smith and Ernie Johnson, who immediately highlighted the significance of Shaq breaking from his usual skepticism toward contemporary centers. O’Neal has long lamented the shift away from traditional post play, often criticizing players who prioritize three-point shooting over interior dominance.

Wembanyama, the No. 1 overall pick in the 2023 NBA Draft, has emerged as a generational talent in just his third season. Standing at 7-foot-4 with exceptional skill, length and basketball IQ, he has transformed the Spurs into a serious Western Conference contender. His ability to stretch the floor with elite shooting while anchoring the defense has drawn comparisons to legends like Kevin Garnett and Dirk Nowitzki — but with even greater physical tools.

The Spurs’ playoff success without injured star players further impressed O’Neal. Despite missing key contributors in several games, San Antonio advanced past Portland, showcasing the depth and system built around Wembanyama’s unique abilities.

NBA analysts and fans reacted swiftly to Shaq’s praise. Many viewed it as one of the strongest endorsements a young player has received from a Hall of Famer. Social media exploded with clips of the moment, with users noting that O’Neal rarely offers such unqualified admiration for current big men.

Wembanyama’s impact extends beyond statistics. His maturity, work ethic and team-first mentality have earned respect league-wide. At just 22 years old, he already leads the Spurs in scoring, rebounding and blocks while maintaining one of the league’s highest efficiency ratings. His defensive versatility allows him to guard multiple positions, fundamentally altering opponents’ offensive schemes.

The Spurs organization has carefully managed Wembanyama’s development, focusing on long-term sustainability rather than rushing his growth. Coach Gregg Popovich has been instrumental in nurturing the young star’s game while protecting him from overexertion. The team’s culture of player development and winning basketball appears perfectly suited to Wembanyama’s talents.

For O’Neal, the praise represents a significant shift. The four-time NBA champion and former MVP has often positioned himself as the gold standard for big men, frequently challenging today’s centers to match his physical dominance and post presence. His acknowledgment of Wembanyama as “perfect” carries substantial weight within basketball circles.

League observers suggest the comments could further elevate Wembanyama’s already rising profile. As the Spurs look ahead to deeper playoff runs, the young phenom’s ability to carry a franchise will be tested against more experienced Western Conference contenders.

The moment also highlights the evolving nature of the center position in today’s NBA. Traditional back-to-the-basket big men have given way to versatile, position-less players who can stretch the floor and defend at multiple levels. Wembanyama embodies this modern archetype while still possessing elite size and rim protection.

As the playoffs continue, all eyes will remain on Wembanyama and the Spurs. Their series victory over Portland has generated excitement about what the franchise can achieve with its young core. Shaq’s endorsement adds another layer of validation to Wembanyama’s rapid ascent.

For basketball fans, the clip represents more than just praise — it’s a passing of the torch moment from one generation’s dominant big man to the next. O’Neal’s words carry the authority of someone who revolutionized the position, making his rare compliment particularly meaningful.

Wembanyama himself has responded humbly to such praise throughout his young career. Known for his focus and professionalism, he continues prioritising team success and continuous improvement over individual accolades.

As the NBA postseason intensifies, the conversation around Wembanyama’s potential will only grow louder. With Shaquille O’Neal — a legend who once dominated the paint — now calling him the first perfect big man, the French star’s place in basketball history appears to be just beginning.

The viral moment has already sparked countless debates, memes and highlight compilations across social media. For a new generation of NBA fans, it serves as both validation of Wembanyama’s talent and a reminder of the high standards set by previous eras of big men.

Whether Wembanyama can live up to such lofty expectations remains to be seen, but Tuesday night’s comments from Shaq have only heightened anticipation for what the future holds for one of the league’s brightest young stars.

A multi-million-dollar shopping precinct anchored by Woolworths has been approved, despite the local government’s opposition.

Woolworths Group’s development arm Fabcot proposed to build a retail centre with a supermarket and 10 tenancies on 822 Youle-Dean Road in Brabham.

At its meeting on Wednesday, the Metro Outer Development Assessment Panel approved the development, which is estimated to cost $22 million.

The City of Swan recommended the development be refused, claiming there was a lack of safe pedestrian connections and inconsistencies with its Brabham district centre precinct structure plan.

City of Swan councillor Rod Henderson was the only panel member who voted against the application, citing traffic issues.

“The applicant needs to go away and fully assess those things,” he said at the meeting.

“We only have part of the story here and they need to go back to the drawing board.”

Despite the opposition, four out of five panel members voted to approve the proposed Woolworths at Brabham.

The panel’s presiding member Eugene Koltasz acknowledged the concerns about Youle-Dean Road running through the proposed centre.

“It’s not unusual that district centres have major roads going through them… [like]  Joondalup centre, there’s traffic running through Whitford centre,” he said.

“These things happen, it’s regrettable perhaps.

“[But] it’s gone through iteration for a number of years for this area.”

The proposed Woolworths supermarket will cover 3,732 square metres with the total net lettable area for the shopping centre estimated at 4,968sqm.

Urbis compiled the development application on behalf of Fabcot.

“The proposal is considered to be a catalyst for community development, as a part of the continued growth of the Brabham, retail town centre,” the application read.

Summer passenger bookings to date are up 6.2%

Jet2 has revealed that holidaymakers are increasingly leaving it until the last minute to book their trips since the outbreak of the Iran war, amid growing anxiety surrounding the conflict’s impact and concerns over jet fuel supplies.

The company said summer passenger bookings to date are up 6.2%, driven by expansion across both its airline and package holiday operations. However, signalling rising unease amongst travellers, it disclosed that the “booking profile has become increasingly close to departure” as a result of the Middle East war.

The firm said it has robust protection against the fuel cost surge triggered by the Iran war for the crucial summer period, adding that it is “maintaining frequent dialogue with our fuel suppliers and airport partners on fuel supply”.

The group’s load factor – a crucial indicator of how effectively it fills its aircraft – has held steady year-on-year throughout its first quarter thus far. That said, it noted the conflict has left limited visibility for the peak summer months and beyond.

The update came after Heathrow airport issued a separate warning on Wednesday that it anticipates passenger figures for the remainder of the year will be affected by developments in the Middle East.

Airspace restrictions following the commencement of hostilities in the Middle East on February 28 have had a substantial impact on air travel. While much of the region’s airspace has subsequently reopened, numerous travellers are steering clear of flying there owing to the ongoing conflict. A number of European airlines have also recently raised concerns about looming jet fuel shortages in the coming weeks, due to disruption affecting their primary supply route through the Strait of Hormuz.

Approximately three quarters of Europe’s jet fuel provision originates from the Middle East and passes through the vital shipping corridor.

Steve Heapy, chief executive of Leeds-based Jet2, said: “Clearly, we continue to monitor the situation in the Middle East but remain focused on our medium-term goals.”

The group indicated it anticipates reporting a decline in operating profits to between £435 million and £440 million for the year ending March 31, down from £446.5 million in 2024-25, though stated this aligned with market expectations.

It has expanded its summer schedule for 2026 by 7.7% to 19.9 million passenger seats.

Motor Show 2026 saw record 130,000 bookings, driven by EV demand and shifting consumer priorities. Growth relies on imports, highlighting the need for domestic EV production, supply chain development, and fair competition.

Key Takeways

🚗 Booking Trends

• Record 130,000 car bookings, the highest ever.
• Driven by strong demand for electric vehicles (EVs), boosted by high oil prices from Middle East conflict.
• Chinese automakers gained significant market share, reflecting shifting consumer preferences.

👥 Consumer Behavior

• Buyers now prioritize value for money and technology over brand loyalty.
• EVs often chosen as second or additional household cars, making consumers more open to new entrants.

📉 Conversion & Risks

• About 70% of bookings expected to convert into deliveries, lower than the 75–80% average in 2022–2025.
• Tight credit conditions for EVs (high down payments, shorter loan terms).
• Risk of cancellations due to new model launches or long delivery times.

Record High Bookings at Motor Show 2026

Motor Show 2026 achieved a record-breaking 130,000 car bookings, driven largely by the growing popularity of electric vehicles (EVs) and changing consumer preferences in Thailand. Chinese automakers gained significant market share as consumers prioritized “value for money and comprehensive technology” over brand loyalty. Rising oil prices due to the Middle East conflict further accelerated the shift toward EVs, often chosen as a second vehicle, leading to increasing interest in newer automakers entering the Thai market.

Delivery Rates and Economic Impact

SCB EIC estimates about 70% of bookings at the Motor Show will convert to actual deliveries, slightly lower than previous years due to tighter credit approvals and high down payments for EVs. Consumer cancellations may increase with new model launches and long delivery times. Despite growing vehicle sales, the economic impact on Thailand remains limited because most cars sold are imported, highlighting the need to strengthen the domestic supply chain and EV infrastructure.

Supporting Thailand’s EV and Automotive Industry

The EV transition is progressing rapidly, but support for traditional automakers must continue. Investment in domestic EV production and the parts manufacturing network should increase alongside efforts to create a competitive, fair market for both established and new players. This would enhance economic value, reduce import reliance, and ensure sustainable growth for Thailand’s automotive industry.

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