Barclays profits rise to £2.7bn in Q1, driven by strong trading revenues amid Trump-induced market volatility, offsetting rising bad loan provisions tied to US economic uncertainty.
Category: News
The latest news affecting small and medium sized (SME) businesses in the UK
Aston Martin limits US exports as Trump tariffs cloud outlook and losses narrow
Aston Martin cuts exports to the US amid tariff uncertainty, despite narrowing losses and rising average car prices, with net debt hitting a record £1.26bn.
Milkshakes could face sugar tax under Treasury plans to expand levy
The UK government proposes extending the sugar tax to milk-based drinks like milkshakes, aiming to tackle excess sugar consumption despite criticism over rising costs.
Labour’s benefit cuts could cost UK economy billions, warns Trussell Trust
Labour’s benefit cuts risk costing the UK economy over £38bn a year, says the Trussell Trust, as rising poverty places further pressure on public services and economic growth.
UK supermarkets spend hundreds of millions on promotions as grocery price war intensifies
UK supermarkets ramp up promotions, spending £347m on deals to stay competitive as grocery inflation rises to 3.8%, according to Kantar’s latest market report.
Trump poised to ease impact of car tariffs with reimbursement plan for US automakers
President Trump is set to ease the impact of car tariffs by reimbursing US automakers for imported parts and preventing double duties, offering relief to the industry.
Airbus finalises deal for Spirit plants in Belfast and Prestwick amid supply chain reshuffle
Airbus takes control of Spirit AeroSystems’ Belfast and Prestwick sites, securing key A220 and A320 components as it strengthens its UK wing manufacturing operations.
HSBC sets aside $876m for bad loans amid fallout from Trump’s trade war
HSBC sets aside $876m for bad loans as Trump’s tariffs disrupt global trade, with the Asia-focused bank warning of further provisions and economic uncertainty ahead.
Overseas buyers line up to hear pitches from small UK exporters at new government roadshow
Small exporters from the North East of England will pitch to buyers from 19 countries at the launch of the government’s “Made in the UK, Sold to the World” export roadshow.
One in four workers fear AI could cost them their jobs, Acas warns
More than 25% of UK workers fear AI could lead to job losses, prompting Acas to urge employers to develop clear policies and reassure staff over AI’s role in the workplace.
Will Shu set for £172m payday as Deliveroo takeover looms
Deliveroo founder and chief executive Will Shu stands to gain more than £172 million if a proposed £2.7 billion takeover by US food delivery giant DoorDash goes ahead, despite the company’s shares still languishing far below their 2021 flotation price.
£90bn lending gap for small businesses ‘is holding back UK economic growth’
A £90 billion lending gap is stifling UK small business growth, with SMEs discouraged from borrowing due to a shift towards low-risk, property-backed loans, new research finds.
Scott Bessent attacks ‘Polyanna-ish’ IMF and demands clampdown on China’s export dominance
US Treasury Secretary Scott Bessent criticises the IMF for ignoring global trade imbalances and focusing on climate and diversity, calling for urgent reforms and tougher scrutiny of China.
Bank of England’s Andrew Bailey backs need for global trade reform amid Trump tariff threats
Bank of England governor Andrew Bailey acknowledges US concerns over global trade imbalances and China’s export model, as UK braces for impact of Trump’s escalating tariff policies.
Inheritance tax hits record £8.2bn as frozen thresholds drag more families into net
HMRC inheritance tax receipts hit a record £8.2bn in 2024-25, driven by frozen allowances and rising asset values. Further changes to pensions and farmland relief set to increase future liabilities.
