Tackling unemployment linked to long-term illness will unlock economic growth that’s “hiding in plain sight”, former John Lewis chair Sir Charlie Mayfield has said.

More than 250 of the UK’s biggest employers, including British Airways, Tesco, Royal Mail, and several government departments, have signed up to his Get Britain Working taskforce.

The group aims to prevent people dropping out of work due to ill-health and encourage those signed off to come back, with official figures showing the issue costs the UK £212bn a year.

However, some employers have said previously that tax rises mean many firms cannot afford to invest, while others have warned against pushing ill people into work.

The companies signed up will track sickness absence, return-to-work outcomes, and disability participation, which the government said would make workplace health performance visible for the first time.

Many big UK businesses, including Sainsbury’s, EDF Energy, and Currys, as well as 10 mayoral authorities, including London and Manchester, have agreed to take part.

Sir Charlie told the BBC: “I can’t tell you how many people I’ve met who said: ‘I was signed off work for three months, or six months, and I never had any contact with my employer at all.’

“That’s not because the employer is a bad person. It’s because we’ve got a situation at the minute where people don’t talk to each other when they really need to.”

Sir Charlie’s comments come as pressure grows on Andy Burnham, who is widely expected to take over as prime minister later this month, to reduce the UK’s welfare bill to free up money elsewhere.

According to government figures, total welfare spending in Great Britain is forecast to be 23.6% of the total amount the government spends in the 2025 to 2026 financial year.

Sir Charlie said his plans could help cut that bill.

“Fixing these problems at the fundamental level, could make a really big contribution to getting this economy working better — for employers, for employees, for the taxpayer, for all of us.”

He added: “This is not a zero-sum game. It’s not a question of employers win and employees lose and vice versa. Everybody can win.”

Sir Charlie suggested Burnham would back his plans.

“I can’t see any reason why he wouldn’t because of what Andy has said about good growth. If this isn’t good growth, I’m not sure what is, quite frankly.”

He said getting people back into work who are currently not working due to ill-health would be a simple way of boosting the workforce.

“You wouldn’t have had to build a single house, open a new channel of immigration, you wouldn’t have to wait for a cohort of young people to join the workplace. This is basically growth hiding in plain sight.”

SEOUL — South Korean memory chip giant SK Hynix filed an amended registration statement with the U.S. Securities and Exchange Commission on June 30, formally launching what could become the largest American depositary share offering in history and potentially setting the stage for trading on the Nasdaq Global Select Market as early as July 10.

The company, the world’s second-largest memory chipmaker and the dominant force in the high-bandwidth memory chips that power Nvidia’s artificial intelligence accelerator systems, is seeking to raise approximately $29.4 billion through the listing of 17.79 million American Depositary Shares under the ticker symbol SKHY. That figure, if achieved at the expected ADS price of approximately $166 per share, would surpass Alibaba’s $21.8 billion New York debut in 2014 as the largest ADR listing in recorded market history.

SK Hynix Chief Executive Kwak Noh-jung addressed the strategic rationale behind choosing a Nasdaq listing directly at the announcement.

“The U.S. market, where global big tech is listed, will allow large institutional investors to properly reassess corporate value,” Kwak said.

BofA Securities, Citigroup, Goldman Sachs and J.P. Morgan are serving as global coordinators for the offering. The registration statement has not yet become effective, and prior to the offering, no public market has existed for the company’s ADSs. SK Hynix will continue to maintain its existing listing on the Korea Exchange KOSPI Market under identification code 000660, achieving a dual-listing structure that gives both Korean and American investors direct access to the company’s equity.

The 17.79 million shares being offered represent approximately 2.5% of SK Hynix’s total outstanding shares, a stake structured specifically to ensure that SK Square, the company’s largest shareholder, retains at least the 20% ownership required under South Korean regulations governing major corporate shareholders. The company said proceeds from the offering will be used for general corporate purposes, including capital expenditures for new semiconductor fabrication facilities and the acquisition of advanced extreme ultraviolet lithography equipment, with a delivery target of December 2027.

The primary destination for that capital is the Yongin Semiconductor Cluster, a massive new campus of memory chip fabrication plants being built in South Korea and set to begin coming online in 2027. SK Hynix is also constructing what will be its first manufacturing presence in the United States, a $4 billion advanced packaging facility in Indiana designed to bring some of the most complex chip production work closer to American technology customers.

The decision to list on Nasdaq rather than the New York Stock Exchange reflects a deliberate strategic calculation about where SK Hynix’s equity belongs in the global investment landscape. Analysts at BofA Securities have noted that passive investment funds now account for a larger proportion of global capital flows than active funds, and that a substantial share of that passive capital is concentrated in Nasdaq-listed technology and growth stocks. Once SK Hynix is included in Nasdaq indices and the ETFs that track them, it would generate continuous and stable inflows from index-tracking vehicles that currently have no mechanism to hold Korean-listed shares without going through intermediary ETF structures.

That dynamic mirrors the journey taken by Taiwan Semiconductor Manufacturing Co., which has traded on the New York Stock Exchange for decades. HSBC noted in a June 2026 research note that the years after American capital gained easier access to TSMC marked a sustained re-rating in how the company was valued relative to comparable businesses, and applied that framework to SK Hynix’s anticipated Nasdaq debut. The bank applied a 20% premium to its prior price-to-book ratio for SK Hynix, lifting the estimate from 2.8 times to 3.4 times and upgrading its price target for the company’s Korean shares from 2.9 million won to 4 million won, a 38% increase, reflecting what it described as improved accessibility to global investors and more proactive shareholder-friendly initiatives.

SK Hynix’s competitive position in the segments most relevant to the current AI infrastructure buildout is difficult to overstate. As of the first quarter of 2026, according to IDC data cited in the company’s own SEC filing, SK Hynix ranked second globally in DRAM by revenue with a 29.1% market share, first globally in high-bandwidth memory with a 56.4% revenue share, and second in NAND flash storage with an 18.5% share. Its customers include Nvidia, Google and Microsoft, effectively the full roster of companies spending tens of billions of dollars annually to build the computing infrastructure underlying the global AI expansion.

The high-bandwidth memory segment, where SK Hynix holds its most dominant position, has been at the center of a global supply shortage that has driven both extreme price appreciation and a dramatic revaluation of memory chipmakers broadly. Goldman Sachs raised its 2026 forecast for the global DRAM supply-demand gap to 4.9%, up from an earlier estimate of 3.3%, calling it the most severe memory shortage in 15 years. That shortage has been the primary driver behind SK Hynix’s Korean share price surge of more than 280% year to date, pushing its market capitalization above $1 trillion and establishing it alongside Micron Technology and Samsung Electronics as one of the three companies most directly positioned to benefit from continued AI infrastructure spending.

The Roundhill Memory ETF has climbed 160% so far this year, while the iShares Semiconductor ETF has gained 96%, performance gaps that reflect how specifically the market has rewarded memory-focused businesses relative to the broader chip sector. With a U.S. listing, SK Hynix would give American investors direct exposure to the world’s leading HBM supplier through a familiar exchange, without the friction of converting Korean won or navigating foreign brokerage infrastructure.

SK Hynix’s operating margin stood at 58.58% as of its most recent reporting period, reflecting the extraordinary pricing environment in which the current memory cycle is operating. The company’s Altman Z-score of 22.42 indicates extremely low financial distress risk, and its price-to-earnings ratio of approximately 24.88 places it at a moderate valuation relative to semiconductor peers, a multiple that analysts say could expand meaningfully once the stock begins trading on Nasdaq and passive capital flows begin accumulating automatically.

Sarah Jackson, who works at coffee and pizza shop Red House, said she was hopeful the change could help people spend money at businesses.

She said “anything that can help bring money into the island is always important” and “having credit cards gives us another option for payment here”.

“I think it depends how obvious the opt-out option is if it’s something that’s very clearly stated and everyone knows when they’re up for it then good,” Jackson said.

“As long as everything’s regulated and following a certain procedure and you’ve chosen exactly what data you want shared then I’m sure it’s fine for people in general.”

Those who do not want their personal data shared can email customerservice@gov.je with subject header “OPT OUT” along with their full name, address and date of birth, or phone 01534 444444 and select option 6.

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On Thursday the government said pubs would be able to stay open until 05:00 on Monday.

Employers are being urged to use their “common sense and understanding” and allow flexible working requests where they can.

The TUC, the umbrella group for trade unions, says bosses where possible should allow staff to work from home, start later and make up their hours in the near future, or swap their hours.

John Palmer, senior advisor at conciliation service Acas, says firms must treat requests for time off fairly – there will be Mexico fans as well as England supporters in the workforce. Employees should be aware it might not be possible to book time off at short notice.

He adds some staff who have no interest in the football may be happy to swap shifts.

But some industries will be less able to offer flexibility than others. The British Chambers of Commerce says businesses where this will be challenging include manufacturing production lines, frontline retail and hospitality.

Its director of policy, Kate Shoesmith, says: “Ultimately, there will be some jobs, such as shift work, where it won’t be possible but we’re confident most employers will be thinking about how they can keep everyone onside.

“Talking to staff and customers about plans, can also help reduce disruption and decrease any impact on productivity.”

Supermarkets Sainsbury’s and Aldi say it will be business as usual in their stores on Monday.

Michelle Last, partner at Keystone Law, says employees don’t have a statutory right to take short-notice annual leave to watch a football match – “or to recover from watching one”.

But she says it might be prudent for employers to agree to short-notice leave requests.

“The alternative is that the employee might call in sick or turn up for work tired and unproductive in any event.

“Given this risk, employers might sensibly proactively encourage employees to apply to take annual leave in anticipation of the match. And hopefully, the ensuing celebrations.”

Artificial intelligence is transforming every aspect of business.  But the value organisations gain from it will depend less on how quickly they adopt new tools and more on whether they use AI to support long-term strategy, growth and resilience.

Across businesses, marketing teams are experimenting with content generation, HR is automating recruitment, finance is streamlining reporting and customer service is introducing AI-powered assistants. Yet this is only the beginning, with AI poised to reshape virtually every area of business.

Currently, individual initiatives may deliver efficiencies, but the organisations that will realise the greatest value from AI won’t necessarily be those adopting it the fastest, but those that manage it as a business-wide strategic transformation.

That distinction matters because many organisations are still treating AI as a collection of individual efficiency projects, rather than as a fundamental shift in how the business creates value.

Claire explains: “Most businesses are understandably in the experimentation stage with AI. As such, the predominant approach to AI adoption is tactical. But it is also often anchored in driving “efficiency”, which is usually code for cost reduction”.

Whilst there is value in experimentation and efficiency, real success will lie in taking a strategic approach to AI adoption. To ensure sustained growth and profitability, leadership teams will need to ensure that AI supports the organisation’s long-term strategy rather than becoming a collection of disconnected tools solving isolated problems.

AI won’t fix your business

While improving productivity and reducing costs is important, approaching AI solely as a cost-reduction tool can create significant challenges further down the line.

For example, businesses might risk making restructuring decisions that remove too much human intelligence from the organisation, or implementing AI solutions that optimise one department while creating inefficiencies in another. When changes are made in isolation, rather than as part of a joined-up strategy, organisations can simply shift inefficiencies from one area of the business to another instead of eliminating them.

As Claire explained: “AI isn’t going to fix your business. It’s simply going to reveal the issues that already exist.”

The starting point should never be, “What can AI do for us?” Instead, Claire believes leadership teams should begin by asking: “What are we trying to achieve as a business? Where are our biggest challenges, and where would we most like to improve?” Only once these questions are answered and clear should they ask: “How do we want to approach embracing AI in our business?”

“If you ground the conversation in how AI can unlock value, that’s a fundamentally different discussion from asking how AI can save money,” she says.

Grounding AI in a business strategy fundamentally changes the conversation. It shifts the focus away from saving money in the short term towards unlocking value over the long term.

Organisations need to operate as connected systems

Long before AI became a boardroom priority, successful organisations understood that the only way businesses can compete today is by operating as one cohesive system.

“Every department needs to be aligned around where the business is going, what it’s trying to achieve and how it’s going to get there,” says Claire.  “That need becomes even greater as AI adoption accelerates.”

Businesses that operate in functional silos today face the greatest challenge. If marketing adopts AI independently from sales, or customer service automates processes without considering operations, customers can end up receiving fragmented experiences while internal teams duplicate effort and create unnecessary complexity. The result is the exact opposite of what AI is intended to achieve.

Claire explains: “Without that systemic approach, you risk driving inefficiency into the business. You also limit your ability to innovate, grow and create long-term value.”

Rather than increasing efficiency, businesses simply create new silos where the left hand no longer knows what the right hand is doing.

Leadership teams therefore need to ask not simply how individual departments are using AI, but how every AI initiative contributes to the organisation as a whole.

“The question all leaders should be asking is ‘Are we looking at this holistically?’”

AI should support strategy, not replace it

There is understandable pressure on businesses to move quickly.

New AI platforms appear almost daily, accompanied by headlines suggesting competitors are racing ahead. “There’s a huge amount of FOMO around AI. Many leaders think everyone else has cracked it, but the reality is that very few organisations have,” says Claire

The temptation is to identify an operational problem, purchase a piece of AI software that appears to solve it and move on to the next issue. However, this tactical approach often increases complexity and cost rather than reducing it. It may also explain why MIT’s 2025 report, The GenAI Divide: State of AI in Business 2025, found that 95% of organisations were getting no measurable return from their GenAI pilots.

“Rather than allowing AI to happen to you, leaders need to decide what AI should be for their business. “Technology should follow strategy, not define it.”

Don’t outsource your intelligence

“The future isn’t AI replacing humans. It’s humans and AI working together,” says Claire.

AI provides artificial intelligence, but organisational success will still rely on applied intelligence, the experience, judgement, creativity and critical thinking that people bring. “The job is to avoid unintentionally outsourcing your intelligence to AI. Protect what makes your organisation uniquely valuable.”

This is particularly important given the reality of today’s workplace. Claire warns: “One of the biggest risks is that AI becomes a coping strategy for overwhelmed employees. They hand more and more tasks over to AI, and what disappears is judgement, evaluation and critical thinking.”

“If organisations don’t think carefully about how people adopt AI, they’ll introduce unnecessary risks around data, reputation and decision-making.”

The goal should never be replacing people with AI. It should be enabling people to work better alongside it.

Build capability for the future

AI also requires organisations to think differently about talent. “Entry-level roles shouldn’t be viewed as something you can eliminate. The real question is how you evolve those roles to support your long-term talent strategy,” says Claire.

Junior professionals still need opportunities to learn their craft. They simply have the opportunity to do so using AI from day one.

If organisations stop developing future talent because technology can perform today’s tasks, they risk creating significant capability gaps in years to come.

Strategic AI adoption therefore requires leaders to ask not only what capabilities can be automated today, but what capabilities the organisation will need tomorrow.

AI is a leadership responsibility

AI is overwhelming, and it is understandable that some leadership teams have turned to creating AI specialist roles. Whilst this sort of specialist expertise will undoubtably be valuable, leaders cannot afford to delegate responsibility for AI adoption to one person or one function.

“Leaders need to ensure they are clear on their business strategy and understand what role AI can play in fulfilling it. This alignment is crucial to ensuring the AI expertise you do bring into the business is pointed in the right direction”.

We’ve seen this before. When digital first emerged, many organisations appointed Heads of Digital. Over time, it became clear that digital could not sit in one department because it touched every aspect of the business.

AI is no different. It cannot become someone else’s responsibility. It must become part of the organisation’s DNA, with leadership teams taking collective ownership for how it is governed, adopted and embedded across the business.

“Get your house in order first. That’s how you’ll get the most value from AI specialists.”

Think beyond today

Clearly, AI has the potential to transform the workplace but it is not without its challenges or risks. If ever there was a need for leaders to consider how decisions taken today might affect the business in the future it is now.

“AI makes a stewardship mindset more important than ever. Stewardship is about protecting the long-term future of your organisation.”

Leadership teams should consider every AI decision through four interconnected lenses: protecting their brand, their people, their customers and the planet.

For example, within the current discourse around AI adoption, there is a definite lack of discussion and consideration around sustainability. Claire believes that it is a huge part of the piece. “Sustainability may not be the most fashionable part of the AI conversation right now, but consumers will eventually join the dots and the brands who have not taken a systemic approach to AI adoption, who haven’t considered how it impacts their own sustainability agenda, will be caught out.”

The organisations that succeed will protect what makes them unique while using AI to enhance, not replace, the intelligence that already exists within the business.

Above all, they will resist the temptation to chase technology for technology’s sake. AI is not a business strategy. It is a powerful enabler of one.

Leadership teams that start with strategic clarity, align every department behind shared goals and adopt AI as part of a connected organisational system will be the ones that create lasting value long after today’s AI hype has passed.

By Claire Croft, founder of executive coaching business Claire Croft Associates

For more information, visit: https://clairecroft.co.uk

For more than 25 years, Juan Sebastian Palomo Murga has built companies that solve real-world challenges across infrastructure, logistics, technology, and financial services.

Today, much of that focus is centered on creating smarter transportation solutions through iPakket and Ride by iPakket.

Rather than viewing mobility as a single service, the companies are building an ecosystem that combines logistics, technology, and shared transportation to make moving people and goods more efficient. As Ride by iPakket continues expanding its carsharing services, the goal remains simple: provide practical, technology-driven solutions that improve accessibility and convenience for individuals and businesses alike.

In this interview, Juan Sebastian discusses the thinking behind the companies’ evolution, the future of shared mobility, and why innovation should always begin with solving everyday problems.

What inspired the expansion from logistics into shared mobility?

As we continued growing iPakket, we saw transportation becoming more connected. Logistics, deliveries, and personal mobility are all part of the same ecosystem. Technology gives us the opportunity to connect those services in ways that make transportation simpler and more efficient.

That is what led to Ride by iPakket. We wanted to create a platform that gives people more flexible transportation options while using technology to improve the overall experience.

What makes carsharing an important part of the future of transportation?

Many people are rethinking traditional car ownership, especially in urban areas. They want access to reliable transportation without the long-term costs and responsibilities that come with owning a vehicle.

Carsharing offers flexibility while making better use of existing resources. When supported by the right technology, it becomes a practical solution for both consumers and cities looking to improve mobility.

We believe transportation should be available when people need it, without unnecessary complexity.

How does technology support the Ride by iPakket experience?

Technology is the foundation of everything we build.

Customers expect transportation to be simple. They want to locate vehicles quickly, complete reservations easily, and have confidence that the service will be reliable. Behind that experience is a significant amount of technology working to improve efficiency, security, and convenience.

For us, technology is not about adding features. It is about removing friction from the customer experience.

How does your experience in infrastructure influence your approach to building technology companies?

Infrastructure taught me that every successful project begins with strong planning and disciplined execution.

Whether you are building roads, managing large construction projects, or developing mobility platforms, success depends on creating systems that people can trust. That mindset continues to guide how we grow iPakket and Ride by iPakket.

The industries may be different, but the importance of reliability never changes.

What role does innovation play across your companies?

Innovation only matters if it improves people’s lives.

Our goal is not to introduce technology simply because it is new. We focus on solutions that help customers save time, simplify transportation, and improve access to services.

As we continue expanding, we are also exploring additional technologies and strategic acquisitions that strengthen the broader ecosystem connecting logistics, mobility, and digital services.

How do you see urban mobility evolving over the next decade?

Cities will continue looking for smarter ways to move people efficiently.

I believe we will see greater adoption of shared transportation, connected mobility platforms, and digital services that allow users to manage multiple transportation options through a single experience.

Companies that can integrate technology with convenience will be well-positioned to meet those changing expectations.

How do sustainability and social responsibility fit into your business strategy?

A responsible business should always consider long-term impact.

Shared mobility has the potential to improve how transportation resources are used while giving more people access to flexible travel options. Beyond our commercial activities, we continue supporting initiatives that expand access to clean energy in underserved communities throughout Central America because infrastructure and energy both create opportunities for economic growth.

We also continue supporting organizations that promote human rights because strong communities are essential to sustainable development.

What do you hope people associate with iPakket and Ride by iPakket in the years ahead?

I hope they see companies that consistently solve real problems.

Our focus has always been on building practical solutions that people can depend on. Whether that means improving logistics, expanding shared mobility, or developing new technology, success comes from creating value that lasts.

If customers think of iPakket and Ride by iPakket as companies that deliver reliable innovation while keeping people at the center of every decision, then we will have accomplished what we set out to do.