Chancellor Rachel Reeves expands the British Industrial Competitiveness Scheme by 40%, cutting electricity bills by up to 25% for 10,000 UK manufacturers from April 2027.
Category: News
The latest news affecting small and medium sized (SME) businesses in the UK
Disney to axe 1,000 jobs as new chief D’Amaro moves to streamline empire
Disney’s new CEO Josh D’Amaro is cutting around 1,000 jobs across its studio, television, ESPN and marketing divisions as the entertainment giant battles shrinking box office returns and streaming pressures.
Norwegian green-steel start-up closes in on rescue deal for former Liberty works in South Yorkshire
Norwegian-backed Blastr has entered exclusive five-week talks with the UK’s official receiver to buy Speciality Steel UK, raising hopes of a rescue for Rotherham and Stocksbridge.
Reeves flies into Washington as IMF brands Britain the G7’s biggest loser
The IMF has slashed Britain’s growth forecast by 0.5 points — the sharpest G7 downgrade — as Rachel Reeves arrives in Washington with inflation nearing 4%.
AA ordered to refund 80,000 learner drivers in landmark ‘drip pricing’ ruling
The AA has been fined £4.2m and ordered to repay £760,000 to more than 80,000 learner drivers after the CMA ruled its driving schools breached consumer law by hiding a mandatory booking fee.
Barratt Redrow pulls back on land buying as Iran war rattles housing market
Britain’s biggest housebuilder Barratt Redrow is cutting land purchases by up to £200m as the Iran conflict fuels mortgage rate fears, yet Q3 sales rose 6% and the order book swelled to £3.54bn.
Holidays abroad take a hit as cost of living fears and Iran conflict weigh on British consumers
UK travel spending has dropped for the first time since 2021 as households brace for higher energy bills and the fallout from the Iran conflict, Barclays data shows.
HSBC warns Iran war is shaking global confidence as UK business leaders count the cost
HSBC chiefs warn the Iran conflict is denting global confidence, as UK bosses from Castore to Virgin Atlantic flag soaring costs, supply chain chaos and inflation risks.
Morrisons to axe up to 200 head office jobs as AI drive accelerates
Morrisons is putting up to 200 Bradford head office roles at risk as the debt-laden supermarket turns to AI and automation to cut costs and streamline operations.
Rolls-Royce targets collectors with £3m electric Nightingale as coach-building strategy accelerates
Rolls-Royce unveils the £3m all-electric Nightingale, a coach-built hypercar limited to 100 clients, as the Goodwood marque pivots from volume to bespoke luxury.
Government doubles down on gaming with £30m funding package as sector eyes global growth
The UK government has unveiled a £30m funding package for video game developers, doubling support for the sector through its Creative Industries Sector Plan and Industrial Strategy.
Rising energy costs from Middle East conflict set to leave UK households £480 worse off this year
Resolution Foundation warns typical working-age household faces 0.6% income decline as oil and gas price rises driven by Iran conflict wipe out energy cap savings.
Founders push for ‘repeat entrepreneur relief’ to keep exit capital flowing back into UK start-ups
Entrepreneurs are urging the Treasury to introduce a capital gains tax deferral for founders who reinvest exit proceeds into new UK ventures within 12 months, as lobbying intensifies around repeat entrepreneur relief.
OpenAI doubles down on London with first permanent office despite Stargate U-turn
OpenAI has signed a lease on an 88,500 sq ft King’s Cross office with capacity for 544 staff, signalling plans to more than double its UK workforce even after scrapping its Tyneside data centre project.
UK business confidence crashes to Covid-era lows as Iran conflict forces firms into survival mode
British business confidence has plunged to its lowest since the first Covid lockdown as the Iran war drives up energy costs and forces firms to shelve hiring and investment plans.
