Sir Keir Starmer has confirmed legislation to nationalise British Steel after talks with Chinese owner Jingye collapsed, securing 2,700 jobs at Scunthorpe.
Category: News
The latest news affecting small and medium sized (SME) businesses in the UK
UK borrowing costs spike to 18-year high as Starmer leadership crisis spooks markets
UK gilt yields surge to highest since 2008 as political uncertainty over Sir Keir Starmer’s leadership and Iran-fuelled inflation fears push borrowing costs to 5.13%.
Poultry powerhouse 2Sisters lifts supermarket prices by £70m to absorb Labour’s National Insurance shock
Britain’s biggest chicken supplier 2Sisters has pushed through £70m of price rises to offset Labour’s National Insurance and minimum wage increases, as profits triple to £108m.
Greggs takes the sausage roll abroad with Tenerife debut
Greggs is opening its first shop outside the UK at Tenerife South Airport as the FTSE 250 bakery chain reports a 7.5% rise in sales to £800m in the first 19 weeks of 2026.
Used electric car sales accelerate to record quarter as motorists seek shelter from forecourt pain
Used pure-electric car sales surged 32% to a record 86,943 in Q1, the SMMT reports, as soaring petrol prices and wider model choice tempt British motorists to switch.
OpenAI mints hundreds of overnight millionaires as staff cash out $6.6bn in share sale
Around 600 OpenAI staff have shared a $6.6bn (£4.8bn) payout in a secondary share sale, with average proceeds of $11m and the largest sellers banking $30m apiece, as the ChatGPT maker eyes a 2027 IPO at a $1tn valuation.
Eon swallows Ovo in £600m deal that crowns Germany’s biggest energy giant as Britain’s largest supplier
Germany’s Eon has agreed to acquire Ovo’s retail arm in a deal valued at up to £600m, creating the UK’s largest energy supplier with 9.6 million customers and overtaking Octopus Energy.
Vauxhall turns to China’s Leapmotor in bid to keep British motoring affordable
Vauxhall will fit Chinese-made electric motors and batteries from Leapmotor in its new C-SUV from 2028, as Stellantis bets on a Beijing alliance to undercut surging Chinese EV rivals.
TG Jones faces bailiff threat as WH Smith successor buckles under unpaid tax bills
TG Jones, the rebranded former WH Smith high street chain, owes £15.8m to councils, suppliers and HMRC and could run out of cash by June, owner Modella warns.
MOD hands Musk’s Starlink £16m as Ukraine support drives satellite spend
The Ministry of Defence has spent £16.6m with Elon Musk’s Starlink over four years, funding satellite terminals for Ukrainian forces and British personnel — despite political friction with the SpaceX founder.
Bond markets sound the alarm as Labour wobbles and gilt yields climb
UK gilt yields breach 5% as Labour reels from local election defeat. City warns of fiscal reckoning if Starmer is replaced by a left-wing successor.
TSB name to vanish from Britain’s high streets after two centuries as Santander absorbs lender
Santander will retire the 200-year-old TSB brand and merge the lender into its UK arm after a £2.9bn deal, targeting £400m of savings. What it means for customers, jobs and branches.
IAG braces for €2bn fuel bill shock as Iran conflict tests British Airways owner
IAG, owner of British Airways, warns the Iran conflict will add €2bn to its fuel bill and dent 2026 profits, even as Q1 earnings jumped 77% to €351m.
Food prices climb for third month in a row as Iran tensions squeeze global supply chains
UN FAO Food Price Index climbs 1.6% in April as Strait of Hormuz disruption, drought and biofuel demand push vegetable oil, cereal and meat prices higher. What it means for UK SMEs.
Fertiliser shortages set to send global food prices soaring, warns Grosvenor chief
Grosvenor Group’s Mark Preston warns Iran war fertiliser shortages have pushed UK farm costs up 70% and will trigger a dramatic spike in global food prices next year.
