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.
Category: News
The latest news affecting small and medium sized (SME) businesses in the UK
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.
Retailers warn Reeves is creating a ‘jobless generation’ as hiring costs spiral
The British Retail Consortium warns Britain is heading for a jobless generation, with £6.5bn in extra labour costs forcing retailers to freeze hiring and shut young people out of work. Read the full Business Matters analysis.
TGJones owner Modella Capital to shut up to 150 former WHSmith high street shops
Modella Capital is to close up to 150 of the 480 former WHSmith high street shops trading as TGJones, putting hundreds of jobs at risk in a fresh restructuring plan.
Amazon’s drones touch down in Darlington in UK delivery first
Amazon has quietly opened a new front in the battle for ultra-fast delivery, becoming the first retailer in Britain to drop parcels by drone after a limited launch in Darlington, County Durham.
King’s Awards crown Britain’s small business heroes on 60th anniversary
The King’s Awards for Enterprise 2026 honour 186 UK businesses including Little Soap Company, RYSE 3D and Edinburgh Remakery, as the prestigious accolade marks its 60th anniversary year.
Gilt yields hit 28-year peak as Starmer’s grip slips and SMEs brace for the bill
UK 30-year gilt yields surge to a 28-year high amid fears of a Labour leadership challenge to Sir Keir Starmer. We examine what soaring borrowing costs and looming rate rises mean for Britain’s small and medium-sized businesses.
UK businesses brace for jet fuel rationing as Goldman Sachs warns of ‘critical’ supply crunch
Goldman Sachs warns the UK is Europe’s most exposed economy to a jet fuel crisis, with rationing looming as Strait of Hormuz closure hits airlines, SMEs and travel costs.
British Business Bank pledges £1m to close gender funding gap through Angel Academe partnership
British Business Bank invests £1m alongside Angel Academe to back female-led UK startups, tackling the venture capital gender gap where women receive under 2% of VC funding.
Government commits £46.5m to fast-track drone industry and tackle rogue operators
The UK Government has unveiled a £46.5m package to accelerate drone deliveries, flying taxis and a new drone ID system, in a sector tipped to contribute £103bn to the economy by 2050.
Over-50s frozen out: Labour’s workers’ rights reforms backfire as older jobseekers hit record high
Nearly one million workers aged 50 and over are now struggling to find employment, with experts warning that the Employment Rights Act, higher National Insurance contributions and a softening jobs market have combined to make Britain’s older workforce the chief casualty of the Government’s flagship reforms.
