Shop price inflation falls to 0.6% in May, the lowest since November 2021, according to British Retail Consortium and NielsenIQ, signalling stabilisation in food prices.
Category: News
The latest news affecting small and medium sized (SME) businesses in the UK
Elon Musk’s AI Start-Up xAI Raises $6bn in Funding
Elon Musk’s AI start-up, xAI, secures $6 billion in funding to accelerate the development of future technologies, challenging OpenAI and Google with its new AI model, Grok.
Labour wins endorsement from 120 business leaders
Labour secures backing from 120 business leaders, including key figures from finance, retail, and technology, calling for a new economic outlook to break free from a decade of stagnation.
Post-Pandemic Setback: Fewer Women Among Top Earners in the City
Gender equality in the workplace has regressed post-pandemic, with fewer women in top earning positions and a widening gender pay gap. Calls for drastic measures grow.
Young British Workers Exploit Sick Leave, Outnumbering Migrant Staff Absences
British workers are taking more sick days than their migrant counterparts, creating challenges for employers. Care home boss Geoff Butcher highlights a significant disparity and rising concerns post-pandemic.
Elon Musk Criticises US Tariffs on Chinese Electric Vehicles Amid Trade Tensions
Elon Musk opposes US tariffs on Chinese electric vehicles, clashing with President Biden’s recent increase in levies. The move aims to protect US jobs but faces criticism from industry leaders and international pushback.
Rachel Reeves Pledges No Income Tax or NI Hikes Under Labour
Labour’s Rachel Reeves rules out increasing income tax or National Insurance if elected, despite acknowledging potential spending cuts. Conservatives and other parties respond.
£4bn Tax Loophole for Private Equity Executives Under Threat
Lenient tax treatment under “carried interest” rules has allowed private equity executives to save £4 billion. Labour plans to abolish this loophole if they win the next general election.
British ISA Plans in Limbo Following Sunak’s Election Call
Rishi Sunak’s decision to call an early election has cast uncertainty over key City reform efforts, including the British ISA and the Pisces private market initiative.
Ofcom Investigates Royal Mail for Missing Delivery Targets
Ofcom investigates Royal Mail for failing to meet first-class delivery targets, with potential financial penalties on the horizon. IDS reports narrowed losses amid buy-out offer from billionaire Daniel Kretinsky.
IFS Warns of Tight Fiscal Constraints for Next Government
The Institute for Fiscal Studies warns that both Labour and Conservative governments will face tight fiscal constraints and low growth after the upcoming election.
Labour Could Cancel Train Contracts Early if Elected
Labour may take back control of Britain’s train networks as early as July 5 if they win the general election, potentially ending private sector involvement in railways.
Inheritance Tax Conflicts with Conservative Values, Says Hunt
Chancellor Jeremy Hunt criticises inheritance tax as anti-Conservative, pledging tax cuts and reforms to support middle-class growth and savings.
Labour to Impose Immediate Tax on Private School Fees, Says Starmer
Labour leader Sir Keir Starmer has declared that a Labour government would swiftly implement taxes on private school fees.
Household Confidence Peaks to Three-Year High Amid Economic Recovery
GfK’s consumer confidence index rises to its highest level in nearly three years, boosting Rishi Sunak’s election campaign focused on economic recovery.