GB News is set to receive a substantial fine for breaching Ofcom’s impartiality rules after losing a High Court bid to block sanctions. The channel will now face sanctions over its handling of a live debate with Rishi Sunak.
Category: News
The latest news affecting small and medium sized (SME) businesses in the UK
US dockworkers end strike after securing six-year, 62% pay rise
US dockworkers agree to end their three-day strike, securing a 62% wage increase over six years, following disruptions to ports across the east and Gulf coasts.
Oil prices see biggest weekly surge in a year as middle east tensions escalate
Oil prices recorded a 9% weekly gain amid escalating conflict in the Middle East, with Brent crude nearing $80 per barrel, its highest level since August.
EU votes to impose tariffs on Chinese electric vehicles despite opposition from Germany
The EU will introduce tariffs of up to 35% on Chinese electric vehicles, sparking fears of a trade war. Germany opposed the move, citing concerns for its car industry.
Motor Industry calls for VAT cut on electric cars and charging points to boost EV market
The motor industry urges the UK government to cut VAT on electric vehicles and public charging points to revive the EV market, which is struggling to meet government sales targets despite record registrations.
Starling Bank fined £29m for ‘shockingly lax’ financial crime controls
Starling Bank has been fined £29m by the FCA for failing to maintain adequate controls against financial crime, leaving the system vulnerable to criminals and sanctioned individuals.
Labour’s economic pessimism halts UK equity market recovery, triggering significant outflows
UK-focused equity funds experience £666 million in withdrawals in September, reversing a recent revival as Labour’s gloomy economic outlook causes investor confidence to wane.
Bank of England may cut rates more aggressively as inflation eases, warns Andrew Bailey
Bank of England Governor Andrew Bailey suggests that the Bank may lower interest rates more aggressively if inflation continues to fall, but warns of potential oil price spikes amid Middle East tensions.
One-third of homes for sale now chain-free as tax fears loom ahead of budget
A third of homes on the market are chain-free as landlords and second-homeowners sell amid concerns over potential capital gains tax changes in the upcoming Budget, Zoopla reports.
Uncertainty over tax rises impacting consumer spending, warns Sainsbury’s boss
Sainsbury’s warns that unclear tax proposals from the Chancellor are dampening consumer confidence, with shoppers holding off on big-ticket purchases. The supermarket urges clarity ahead of the Budget.
Tesco accelerates price cuts amid easing inflation and rising profits
Tesco is reducing prices as inflation eases, reinforcing its position as the UK’s largest supermarket. With profits rising and market share growing, Tesco expects a strong performance through the festive season.
Tetley tea owner takes legal action against striking workers over trespass claims
Tetley tea’s owner, Tata Consumer Products, has launched legal action against striking workers, accusing them of trespassing during a pay dispute. GMB Union warns of potential tea shortages amid the ongoing industrial action.
Majority of businesses receiving £23bn in Covid grants could have survived without them, report finds
An official report reveals that most businesses benefiting from £23bn in Covid grants could have survived without the aid, raising concerns over government spending. The report highlights inefficiencies in the allocation of funds and potential lessons for future crisis management.
Bank of England warns UK at risk of credit crunch amid market vulnerabilities
The Bank of England warns that the UK is at risk of a credit crunch, citing global market vulnerabilities and geopolitical tensions. While interest rates have begun to fall, markets remain volatile, with concerns over rising borrowing costs and substantial hedge fund bets against US Treasuries.
Rayner proposes flexible probation periods to reduce long-term sickness leave
UK government considers introducing flexible probation periods for workers returning from long-term sickness to encourage businesses to hire them without legal risk. Unions push back against the proposal, calling for universal day-one rights.