Luxury timepiece retailer Watches of Switzerland has posted record revenues of £1.65 billion, yet shares tumbled 8 per cent following warnings about US tariff impacts on profit margins. The company’s shares dropped to 388p after announcing potential margin pressures from American import duties on Swiss watches. Chief Executive Brian Duffy revealed that luxury brands within […]

Two-thirds of British companies anticipate no significant impact from US tariff policies, according to the latest Bank of England decision-maker survey. The June report reveals that merely 29 per cent of firms forecast reduced sales over the coming year due to President Trump’s trade measures. The survey demonstrates that 25 per cent of organisations expect […]

Europe’s largest budget carrier Ryanair has called upon Brussels to address the mounting crisis caused by French air traffic controller strikes, resulting in hundreds of cancelled flights and widespread passenger disruption across the continent. The industrial action, which began on Thursday, has forced both Ryanair and easyJet to ground numerous services, impacting tens of thousands […]

The Office of Rail and Road has dealt a significant blow to Virgin Trains’ aspirations to re-enter the British railway market by rejecting its application to operate services on the west coast mainline from London Euston. The regulatory body simultaneously declined proposals from FirstGroup and Alstom, citing insufficient line capacity and potential disruption to existing […]

In a significant move that underscores confidence in the UK financial sector, European insurance giant Athora has announced its acquisition of Pension Insurance Corporation (PIC) for £5.7 billion, marking the largest corporate transaction in Britain this year. The Bermuda-headquartered Athora, steered by former Prudential chief Mike Wells, will take control of PIC’s substantial portfolio, which […]

Major commodity trading group Glencore was kept in the dark about critical financial difficulties at the Prax Lindsey oil refinery until mere days before its collapse into administration, despite government awareness of the issues spanning several months. The UK’s smallest refinery now teeters on the brink of closure as restructuring specialists frantically work to secure […]

Major global investors and asset management firms capitalised on UK government bonds during a dramatic sell-off sparked by uncertainty surrounding Labour Chancellor Rachel Reeves’s position. Investment behemoths including BlackRock, Schroder’s and Fidelity identified strategic buying opportunities as gilt prices plummeted and yields surged in what became the most significant intra-day movement in UK bonds since […]

Fresh employment figures from the US Department of Labour have demonstrated unexpected strength in the world’s largest economy, with 147,000 new positions created in June, significantly surpassing market forecasts of 110,000. The unemployment rate witnessed a surprising decline to 4.1 per cent from 4.2 per cent, whilst average hourly earnings increased by 0.2 per cent […]

The Home Office’s inability to track post-visa movements and illegal employment has exposed significant operational inefficiencies, potentially costing British taxpayers millions of pounds in lost revenue and enforcement expenses. A damning report from the public accounts committee (PAC) has revealed the department’s failure to maintain fundamental data tracking systems, particularly concerning the skilled worker visa […]

The property market could face significant disruption as Ofsted prepares to eliminate its single-word school ratings, potentially affecting house prices in areas with top-performing schools. Sir Martyn Oliver, Ofsted’s chief inspector, has revealed that property values near schools achieving ‘outstanding’ status have historically seen immediate price jumps of up to £15,000 within a week of […]

The Labour government has revealed its comprehensive ten-year strategy for reforming the National Health Service, centring on three pivotal elements: community-based care delivery, service digitalisation, and illness prevention. The announcement, made following Prime Minister’s Questions, represents the most significant overhaul of Britain’s healthcare system in decades. At the heart of the transformation lies a revolutionary […]

A critical oil refinery responsible for 10% of Britain’s fuel supply stands on the brink of closure, threatening significant disruption to national fuel distribution. The Lindsey Oil Refinery in Lincolnshire, which entered insolvency proceedings on Monday, has ceased both crude oil deliveries and refined fuel dispatches. The facility, previously operated by the Prax Group, supplies […]

Tesla’s latest quarterly report reveals a substantial decline in vehicle deliveries, marking what could become its second consecutive annual sales decline. The electric vehicle manufacturer delivered 384,122 vehicles in the second quarter, representing a 13.5% decrease from 443,956 units in the previous year. Market analysts had projected deliveries of approximately 394,378 vehicles, according to estimates […]

The eastward movement of Europe’s intense heatwave has triggered a significant political debate regarding air conditioning infrastructure, particularly in France, where far-right leader Marine Le Pen has proposed substantial investments in cooling systems. Le Pen’s ambitious “grand plan for air conditioning” announcement, positioned as a cornerstone of her 2027 presidential campaign, has met fierce opposition […]

The Labour government has announced an ambitious £52 billion restructuring of the National Health Service, signalling a fundamental shift from hospital-centred care to community-based treatment facilities. Prime Minister Keir Starmer’s strategic blueprint aims to revolutionise healthcare delivery across England through the establishment of neighbourhood health centres operating 12 hours daily, six days per week. The […]

The Labour government faces significant fiscal challenges following a major policy reversal on welfare cuts, leaving Chancellor Rachel Reeves grappling with a £6.25 billion hole in public finances. The dramatic U-turn on Personal Independence Payment (PIP) reforms has effectively eliminated the anticipated £5 billion in annual savings outlined in March’s spring statement. The Resolution Foundation’s […]

US private equity giant KKR has emerged victorious in a heated takeover battle for British instrumentation specialist Spectris, securing a £4.1 billion all-cash deal that highlights the persistent undervaluation of UK-listed companies. The £40-per-share offer, which trumped rival Advent International’s £3.8 billion bid, represents a substantial 96 per cent premium to Spectris’s pre-offer trading price […]

The beloved British bakery chain Greggs has issued a stark profit warning as scorching summer temperatures dampened consumer appetite for its signature hot pastries, triggering a sharp decline in its share price. The FTSE 250 stalwart witnessed its shares tumble by 289p, representing a substantial 14.6 per cent drop to £16.86, marking a three-month low. […]

The tech behemoth Microsoft has unveiled plans to reduce its global workforce by approximately 9,000 positions, representing 4% of its staff, as the organisation pivots towards enhanced artificial intelligence capabilities whilst streamlining operational costs. The redundancies will impact various departments worldwide, with significant effects on the sales division and the company’s Xbox gaming segment. This […]

The Big Four accountancy firm EY is facing a substantial fine following its failure to adhere to regulatory partner rotation rules in its audits of energy giant Shell. The firm has admitted to breaching independence guidelines set by both the UK’s Financial Reporting Council (FRC) and the US Securities and Exchange Commission (SEC). The breach […]

UK government borrowing costs surged and sterling fell sharply today amid speculation regarding Rachel Reeves’ position as Chancellor of the Exchequer. The dramatic market reaction followed scenes in the House of Commons where Reeves was visibly distressed during Prime Minister’s Questions, coupled with Sir Keir Starmer’s notable reluctance to confirm her continued tenure. The yield […]

Recent market research reveals a significant shift in Generation Z’s drinking habits, with financial prosperity appearing to be the key driver behind increased alcohol consumption among young adults. Data from IWSR’s comprehensive survey spanning 15 major drinks markets indicates that 73% of Generation Z respondents (legal drinking age to 27 years) had consumed alcohol within […]

The political landscape was rocked today as Rachel Reeves, the Labour Chancellor, faced intense speculation about her future following an emotional display during Prime Minister’s Questions. The incident triggered the most significant surge in Britain’s borrowing costs since Liz Truss’s brief premiership. Market reaction was swift and severe, with government borrowing costs soaring and sterling […]

In a landmark decision, Britain’s energy watchdog Ofgem has authorised an unprecedented £24 billion investment in the nation’s electricity grid infrastructure. The investment package includes £15 billion for gas transmission and distribution networks through to 2031, whilst £8.9 billion is earmarked for high-voltage electricity network expansion—marking the most significant grid enhancement since the 1960s. The […]

Rising temperatures and extreme weather conditions are driving up food prices across Britain, according to the latest report from the British Retail Consortium (BRC). Food price inflation jumped to 3.7% in June, marking a significant increase from May’s 2.8%, whilst overall shop price inflation reached 0.4%. The impact of climate change on harvest yields has […]

The retail giant Marks & Spencer expects its online business to be “fully” operational within the next four weeks following a devastating cyber-attack that paralysed its digital operations. The breach forced the retailer to halt customer orders through its website for nearly seven weeks, significantly impacting its market position and profitability. Stuart Machin, M&S chief […]

House prices experienced their most significant monthly decline in over two years, dropping 0.8 per cent to £271,619 in June, according to the latest Nationwide house price index. The decrease, more substantial than economists predicted, reflects the immediate impact of recent stamp duty modifications. The yearly growth rate in property values decelerated to 2.1 per […]

Britain’s second-largest grocer, Sainsbury’s, has reported its most robust market share performance in nine years, driven by strong demand for premium food offerings and an unexpected advantage from a cyberattack at rival Marks & Spencer that resulted in stock shortages. The retailer witnessed retail sales growth, excluding fuel, of 4.9% in the 16 weeks to […]

The 138-year-old British luxury leather goods manufacturer and royal warrant holder Smythson has been acquired by private equity firm Oakley Capital for an undisclosed sum, marking a significant shift in the brand’s ownership structure. The deal sees Smythson transition from Italian ownership under Tivoli Group to join Oakley’s Iconic BrandCo portfolio, which houses prestigious brands […]

Manchester Airports Group (MAG) has achieved a milestone year, processing more than 64 million passengers across its three airports whilst delivering substantial profit growth. The group’s financial performance showed remarkable strength, with revenues reaching £1.3 billion, marking an 8 per cent increase, whilst earnings before interest, tax and other deductions surged 12 per cent to […]

Meta Platforms is set to revolutionise business communications through WhatsApp by enabling companies to send voice notes to users, marking a significant shift in its monetisation strategy. The announcement, made by Meta CEO Mark Zuckerberg at a Miami company event, introduces comprehensive tools aimed at enhancing business-customer interactions across WhatsApp’s three billion global users. The […]

Australian finance powerhouse Macquarie has orchestrated yet another substantial bailout of Southern Water, pushing their total investment to a staggering £2.85 billion over four years. The latest rescue package arrives as creditors agree to write off more than half their lending exposure to the struggling utility provider. Macquarie Asset Management, previously known for its controversial […]

In a groundbreaking move to challenge the dominance of American tech giants in the £40 billion UK advertising market, Channel 4 has announced plans to implement AI-generated advertisements across its online streaming platform. The innovative service, powered by technology from Streamr.ai and Telana, aims to revolutionise the advertising landscape by enabling small and medium-sized enterprises […]

In a significant development within the financial sector, Standard Chartered Bank is confronting a massive $2.7 billion lawsuit related to the infamous 1MDB scandal. The legal action, filed in Singapore’s High Court, centres on allegations that the British banking giant failed to implement proper anti-money laundering protocols. Court-appointed liquidators from Kroll have launched the lawsuit […]

Spanish banking giant Santander has emerged victorious in the race to acquire TSB, securing a £2.65 billion cash deal with current owner Sabadell. The acquisition, which outmanoeuvred a competing bid from Barclays, marks a significant shift in the UK banking landscape. Sabadell, currently fending off an €11 billion hostile takeover attempt from BBVA, confirmed the […]

In a nail-biting Senate session, President Trump’s cornerstone legislation, initially dubbed the ‘One Big Beautiful Bill’, secured passage by the slimmest possible margin. The decisive vote came from Vice-President JD Vance, who broke a 50-50 deadlock after three Republican senators crossed party lines. The contentious bill, which extends Trump’s first-term tax cuts, faced significant opposition […]

Sir Pascal Soriot, the chief executive of AstraZeneca, Britain’s most valuable public company, has privately expressed his desire to relocate the pharmaceutical giant’s stock market listing to the United States, according to multiple sources close to the matter. The 66-year-old executive, who has steered AstraZeneca since 2012, has reportedly discussed the possibility of moving both […]

British rail operators have implemented crucial speed restrictions on major routes amid soaring temperatures, significantly impacting operational efficiency and shareholder value across the transport sector. The restrictions, initially confined to southern routes, have expanded to encompass western mainlines as track temperatures approached 60C. Network Rail’s preventative measures affect primary services from London Paddington and the […]

In a significant move to address mounting regulatory pressure, the UK’s leading food delivery platforms have announced comprehensive security enhancements to combat illegal working practices. Deliveroo, Uber Eats, and Just Eat unveiled plans to implement rigorous facial verification protocols and advanced fraud detection systems within the next 90 days. The strategic shift follows crucial discussions […]

The American dollar has plummeted more than 10% against a basket of global currencies in what analysts are calling the most significant decline for the first half of any year since 1973. This dramatic shift in the currency markets has been largely attributed to Donald Trump’s controversial trade policies and mounting geopolitical tensions. The steep […]

Energy suppliers failing to meet Ofgem’s financial resilience targets are gaining an unfair market advantage and should be publicly identified, according to industry competitors. The regulatory body faces mounting criticism from Utility Warehouse, Britain’s seventh-largest supplier, and Good Energy, a prominent smaller supplier, for its reluctance to name three companies falling short of the minimum […]

The newly appointed owner of Royal Mail, Czech billionaire Daniel Kretinsky, has issued a rallying call for workforce unity following his £3.6 billion takeover of the postal service. His message coincides with a crucial breakthrough in negotiations, as the organisation reaches a pay agreement with trade unions. Kretinsky, who acquired International Distribution Services (IDS) through […]

In a significant policy reversal, Canada has abandoned its digital service tax targeting American technology companies, mere hours before its scheduled implementation. The decision follows direct criticism from President Trump and aims to resurrect stalled trade negotiations with the United States. The Canadian government’s retreat from the controversial 3 per cent revenue levy on major […]

The venerable British retailer WH Smith has reduced the sale price of its high street business by £12 million following deteriorating trading conditions. The FTSE 250 company’s shares tumbled by 7 per cent during early Monday trading after revealing revised sale terms to investors. The 233-year-old organisation will now receive gross cash proceeds of up […]

The British government has announced stringent measures to curb steel imports, implementing a dramatic reduction in growth allowance from 3% to just 0.1% year-on-year. This decisive action, spearheaded by Business and Trade Secretary Jonathan Reynolds, aims to shield domestic producers from the ripple effects of US trade barriers. The new regulations, taking effect from Tuesday, […]

In a significant shift within the asset management industry, renowned stockpicker Alexander Darwall has agreed to sell Devon Equity Management to Martin Gilbert’s River Global for a modest £2.46 million, marking the end of his independent venture. The sale comes at a challenging time for Darwall, following his recent Supreme Court defeat in May regarding […]

Private healthcare giant Bupa has been ordered to pay £17 million in compensation to Australian members following revelations that the company deliberately blocked legitimate health insurance claims. The Australian Competition and Consumer Commission (ACCC) uncovered systematic misconduct where Bupa, Australia’s second-largest private health insurer with four million customers, engaged in misleading and deceptive practices. The […]

One of Britain’s last remaining oil refineries has fallen into administration, triggering urgent government intervention and putting approximately 400 jobs at risk. The Prax Lindsey facility, situated on the River Humber, has ceased operations after the Insolvency Service issued a winding-up order against the company. Energy Secretary Ed Miliband has demanded an immediate investigation into […]

The British government has unveiled a transformative ten-year strategy aimed at revolutionising NHS staffing policies, with UK-trained medical professionals positioned to receive preferential treatment in job allocations. The ambitious plan, scheduled for publication this week, establishes a target to limit overseas recruitment to merely 10% of new NHS hires, marking a significant shift from the […]

Pascal Soriot, AstraZeneca’s chief executive, made waves at this year’s Boao Forum in China by boldly declaring the nation’s position as a key innovator in the pharmaceutical industry. His stance, alongside the US, comes at a particularly sensitive time in US-China relations. The British pharmaceutical giant’s deepening ties with China have raised eyebrows, especially following […]

Ocado Group’s mounting debt concerns have intensified as soaring interest rates continue to plague the technology-focused retail company. The organisation’s debt interest obligations have skyrocketed from £27.3m to nearly £100m within a year, following a recent debt restructuring that resulted in significantly higher borrowing rates. Tim Steiner, Ocado’s founder and chief executive, who transitioned from […]

Recent advertisements on London’s Underground have ignited widespread concern among commuters, as AI startup Artisan boldly encourages businesses to “stop hiring humans” in favour of artificial intelligence solutions. This provocative marketing campaign has touched a raw nerve, highlighting growing anxieties about workplace automation and its implications for employment security. The financial implications for businesses adopting […]

The stark reality of Britain’s escalating electricity crisis is becoming increasingly evident as both industries and households grapple with unprecedented power costs. The situation has reached a critical point where British factories now bear the highest electricity prices among developed nations, according to the International Energy Agency. At Sheffield’s last remaining stainless steel plant, operations […]

In a significant development for the British energy sector, Spanish energy giant Iberdrola, the owner of Scottish Power, has initiated preliminary discussions with Ovo Energy regarding a potential merger that could reshape the UK’s energy landscape. The proposed merger would consolidate the companies’ combined customer base of 6.4 million households, positioning the new entity as […]

In an ambitious move that could reshape Britain’s retail landscape, Asda has unveiled plans to overtake Primark as the country’s largest clothing retailer. The supermarket giant’s chairman, Allan Leighton, is strategically positioning the George clothing brand at the forefront of a comprehensive corporate turnaround strategy. The transformation includes plans to renovate up to 100 stores, […]

British agriculture is witnessing a technological metamorphosis as farmers embrace sophisticated drone technology to enhance productivity and streamline operations. The Watercress Company in Hampshire exemplifies this shift, having invested £80,000 in cutting-edge Agras T50 drones manufactured by Chinese tech giant DJI. Managing Director Tom Amery’s decision to incorporate drone technology, inspired by Instagram content, represents […]

Britain’s healthcare system faces unprecedented strain as mounting evidence suggests deprivation-linked health issues cost the NHS an estimated £50 billion annually, matching the nation’s defence budget. The stark reality of what experts term ‘medieval’ levels of health inequality is creating a devastating financial burden on the healthcare system. Senior NHS officials report disturbing trends, including […]

The British government has launched a comprehensive review into private train operators amid concerns they are generating “super normal profits” that could cost taxpayers upwards of £200 million annually. Transport Secretary Heidi Alexander’s intervention has sparked significant tension with FirstGroup, one of Britain’s largest transport organisations, whilst potentially derailing Sir Richard Branson’s aspirations to restore […]

The Business Secretary Jonathan Reynolds has received assurances regarding the future of Lotus’s Norfolk manufacturing facility following crucial discussions with its Chinese proprietor over the weekend. The talks arose amid speculation about the fate of the 59-year-old Hethel plant, which currently employs 1,300 workers. Following Sunday’s high-level meeting with Lotus and its majority stakeholder Geely, […]

Trade protectionism threatens to fragment the worldwide economy and heighten the risk of financial turmoil centred on the global bond market, according to a stark warning from the Bank for International Settlements (BIS). The organisation, widely recognised as the central bank of central banks, has emphasised that current global trade policies are accelerating economic fragmentation […]

The British government has thrown its weight behind Rolls-Royce’s ambitious plan to dominate the £1.6 trillion market for short-haul aircraft engines, offering potential taxpayer support for its next-generation jet engine development programme. Tufan Erginbilgic, chief executive of the Derby-based FTSE 100 engineer, confirmed the company’s strategic pivot towards the larger “narrow body” market, with Labour […]

Not too long ago, the prospects of clean hydrogen were the talk of global energy circles. As nations worldwide set their sights on decarbonisation, many industry insiders were optimistic that hydrogen might emerge as the miracle fuel that could help clean up operations. While there remains some hope for a hydrogen revolution in certain parts […]

Defence stocks across Europe are experiencing an unprecedented boom as geopolitical tensions and increased military spending drive investor confidence to new heights. The sector’s remarkable transformation is perfectly exemplified by Babcock’s journey from crisis to triumph. Five years ago, Babcock was plagued by profit warnings and delayed results, making it a prime target for short-sellers. […]

Clothing prices are beginning to climb in the US market as Donald Trump’s tariffs on imported goods take effect, according to H&M’s chief executive. The Swedish retail giant’s leader, Daniel Ervér, has observed a shifting landscape where various competitors are implementing price adjustments at different rates. Speaking about market dynamics, Ervér noted that whilst some […]

The future of Britain’s premier bioethanol facility hangs in the balance as Associated British Foods (ABF) signals potential closure of its Hull-based Vivergo plant by September, threatening 160 jobs amid fallout from the recent UK-US trade agreement. The food manufacturing giant has initiated formal discussions with the government whilst simultaneously beginning staff consultations for an […]

Growing evidence suggests the UK jobs market is experiencing a notable slowdown as employers adjust to increased national insurance contributions by reducing recruitment and offering lower wage increases, according to Bank of England Governor Andrew Bailey. The Bank’s monetary policy committee will weigh the combined impact of reduced employment and slower wage growth during its […]

The UK’s leading pharmacy and retail chain Boots has delivered another robust quarter of growth, marking its 17th consecutive period of market share gains amid an impending £10 billion private equity takeover of its parent company. The retailer, owned by Walgreens Boots Alliance (WBA), achieved a 5 per cent increase in total sales during the […]

Lord Rothschild’s cable manufacturing enterprise Volex has reported a remarkable 25% increase in profits, driven by soaring demand for its electric vehicle chargers. The company’s financial performance exceeded management’s previous guidance, propelling shares upward by 17.3% to 370p, marking a nine-month peak. The company, which traces its origins to Manchester’s Ward & Goldstone established in […]

The Bank of England’s governor has revealed that the recent increase in employers’ national insurance contributions is having a more severe impact on employment and wage growth than initially projected, suggesting potential further interest rate reductions this year. Speaking at the British Chambers of Commerce, Andrew Bailey disclosed mounting evidence of companies responding to heightened […]

In a significant boost for the City of London, Norwegian software powerhouse Visma has provisionally selected the UK capital for its anticipated public listing, favouring it over Amsterdam. The €19 billion business software group’s decision hinges on the implementation of crucial stock exchange reforms designed to counterbalance Brexit-related complications. The Oslo-based technology firm, which generated […]

Significant changes announced by Companies House have sparked widespread concern among small business owners across the UK. The corporate registry has unveiled mandatory requirements for commercial software usage and enhanced financial disclosure, set to take effect from April 2027. The sweeping reforms will eliminate traditional web and paper-based filing systems, compelling all companies to adopt […]

Selfridges, the iconic Oxford Street department store, is poised to transform its fourth-floor office space into an exclusive members’ club, intensifying the competition for high-net-worth shoppers in London’s luxury retail sector. The prestigious retailer secured approval this week to convert existing staff areas into what it describes as an “exclusive new shopping and social destination” […]

Donald Trump declared on Thursday evening that the United States has secured a trade agreement with China, though he remained characteristically vague about the specifics of the deal. The announcement came during a White House gathering dubbed “One Big, Beautiful Event,” organised to garner support for his signature legislation. The proclamation marks yet another instance […]

Sir Keir Starmer’s government is navigating treacherous political waters as he attempts to quell a significant internal rebellion over proposed welfare reforms. The Labour leader has offered substantial concessions to protect existing disability benefit recipients, marking a strategic retreat from the original reform package. The proposed compromise, costing the Treasury £1.5 billion, would shield 370,000 […]

The UK’s third-largest supermarket chain, Asda, has reported a devastating pre-tax loss of £599 million for the year ending 31 December 2024, marking a dramatic shift from its £180 million profit in 2023. The significant downturn comes as the retailer grapples with mounting debt obligations and operational challenges. Sales at established stores declined by 3.4%, […]

The British government has pledged £500 million in transport infrastructure support to secure Universal’s first European theme park development in Bedford. The deal, which remains under negotiation for its final scope, marks a significant milestone in the UK’s economic growth strategy. Comcast, Universal’s parent company, revealed its selection of a 192-hectare site at the former […]

Leading automotive and cycling retailer Halfords has plunged into the red, reporting a statutory pre-tax loss of £30 million for the 52-week period ending 28 March. The significant downturn stems from restructuring costs and a substantial write-down of its retail business value, attributed to rising UK gilt yields and escalating labour costs. The troubled retailer’s […]

British defence contractor Babcock International has reported a substantial surge in profits, marking what its chief executive calls “a new era for defence”. The company’s shares climbed more than 13 per cent following an upgrade to its earnings forecast, reaching an 11-year high. The FTSE 100 group, now valued at £5.8 billion, has established itself […]

British healthcare property company Assura finds itself amidst an intense bidding war, with American private equity giants KKR and Stonepeak Partners competing against domestic rival Primary Health Properties (PHP) in a deal worth £1.7 billion. The situation has drawn significant attention from parliamentary figures, with former pensions minister Baroness Altmann raising concerns about foreign ownership […]

The British arm of Danish toy manufacturer Lego has achieved a remarkable milestone, surpassing £500 million in sales for the first time, despite challenging market conditions. The Berkshire-based division reported a 12% increase in revenue to £502 million for the year ending December, marking a significant achievement in the face of broader market decline and […]

Sales growth in Marks and Spencer’s food division has experienced a deceleration over the past quarter as the retailer grappled with the aftermath of a devastating cyber attack. The FTSE 100 company reported a 9.1 per cent year-on-year increase in food sales during the 12 weeks leading to 14 June, according to data from NielsenIQ. […]

Oil giant Shell has firmly rejected reports suggesting merger discussions with BP, following speculation about a potential £200 billion-plus energy group formation. The company’s spokesperson emphasised that “no talks are taking place” in response to The Wall Street Journal’s coverage of alleged discussions between the two energy behemoths. The reported negotiations, which Shell dismissed as […]

In a remarkable turn of events, Skoda, once the subject of automotive ridicule, has surpassed Tesla in European electric vehicle sales. The Czech manufacturer, operating under the Volkswagen Group umbrella, delivered 14,920 vehicles in May, outperforming Elon Musk’s Tesla, which managed 14,055 units, according to DataForce market research. The triumph was largely driven by Skoda’s […]

The British government is poised to implement stringent restrictions on alcohol advertising as part of its comprehensive ten-year NHS strategy. Health Secretary Wes Streeting’s department, recently bolstered by a £30 billion annual budget increase from Chancellor Rachel Reeves’s spending review, is spearheading this transformative initiative. Market analysts anticipate significant disruption to the £1.3 billion UK […]

The UK government is poised to designate British steel production as critical to national security, unveiling plans to secure substantial orders for infrastructure projects including wind farms and rail links. This strategic move aims to safeguard domestic production through new regulations enabling public bodies to prioritise British steel, regardless of cheaper international alternatives. The initiative […]

Labour’s ambitious plans to modernise the National Health Service will see patients directed to consult an artificial intelligence-driven ‘AI GP’ as their primary healthcare contact point. The groundbreaking initiative, unveiled by Health Secretary Wes Streeting, represents a £10 billion investment in NHS technology. The revolutionary system, dubbed ‘My Companion’, will function as an intelligent healthcare […]

European regulators are poised to implement sweeping changes to airline pricing structures, potentially prohibiting carriers from charging passengers for cabin baggage and family seating arrangements. The landmark proposal, endorsed by the European Parliament’s transport and tourism committee, aims to streamline booking processes and eliminate controversial drip pricing practices. The proposed legislation mandates that airlines must […]

In a significant development for the UK automotive sector, Chinese manufacturer Chery Auto is evaluating plans to establish its second European manufacturing facility in Britain. The announcement comes as the company seeks to strengthen its position in the European market whilst navigating complex international trade dynamics. The strategic move was revealed by Chery’s UK director, […]

In a landmark development for UK tech regulation, Google faces potential forced alterations to its search business operations under new proposals from the Competition and Markets Authority (CMA). The watchdog’s unprecedented move could require the tech giant to offer users alternative search engine choices, marking a significant shift in the digital marketplace landscape. The CMA’s […]

In a significant move that underscores its commitment to the British market, Amazon has unveiled plans to invest £40 billion in the UK over the next three years. The e-commerce behemoth’s strategic expansion includes the construction of four state-of-the-art robotic fulfilment centres and substantial upgrades to its Berkshire film studios. The ambitious programme will establish […]

Food prices across British supermarkets have surged at their fastest rate in more than a year, intensifying pressure on household budgets nationwide. Fresh data from Kantar reveals grocery prices climbed 4.7 per cent in the four weeks to 15 June compared to the same period last year, marking the highest increase since February 2024. The […]

The electric bike-sharing pioneer Lime is preparing for a stock market flotation, targeting a valuation exceeding $500 million. The San Francisco-headquartered enterprise, established in 2017 and currently managing e-bike and scooter fleets across 280 cities worldwide, has reportedly enlisted Goldman Sachs and JP Morgan to orchestrate an initial public offering slated for next year. The […]

The Bank for International Settlements (BIS) has issued a stark warning about the growing influence of stablecoins, suggesting they pose significant risks to global financial stability and countries’ monetary sovereignty. This critique emerges as a direct challenge to US policy supporting these digital assets. The BIS, widely recognised as the central bank of central banks, […]

British supermarkets are experiencing their first decline in grocery sales volumes this year, with experts attributing part of this downturn to the rising popularity of weight-loss medications. Market research firm Kantar reports a 0.4 per cent year-on-year decrease in sales volumes over the past four weeks. Fraser McKevitt, head of retail and consumer insight at […]

British alcohol tariffs are causing significant disruption to Spanish wine exports, with a notable 7.5 per cent decline in value during the first four months of this year. The implementation of alcohol content-based tariffs from the autumn budget has particularly impacted Spanish vineyards, known for their fuller-bodied wines. The Spanish Wine Interprofessional Organisation reports exports […]

The Bank of England’s Governor Andrew Bailey has emphasised that interest rates will see reductions this year, whilst downplaying the significance of global events, including tariffs and Middle Eastern conflicts, in the decision-making process. Speaking to the Lords economic affairs committee, Bailey stated that whilst global events aren’t ignored, their unpredictable nature means they carry […]

London-headquartered recruitment specialist SThree has implemented significant workforce reductions amid persistent challenges in the global hiring landscape. The organisation has trimmed its workforce by 10 per cent, bringing the total headcount down to approximately 2,430 from 2,700 in November. The company, which maintains operations across 11 countries, attributes some staffing reductions to natural attrition whilst […]

Oil prices have witnessed a significant decline following growing confidence in the Iran-Israel ceasefire, dispelling earlier concerns about potential supply disruptions. Brent crude, the global benchmark, dropped 5.9 per cent to $66.39 per barrel on Tuesday evening, marking a substantial retreat from Monday morning’s peak of $81 per barrel. The impact reverberated through financial markets […]

The artificial intelligence sector’s rapid expansion and the declining gas sales in Russia are contributing to the formation of a supply glut. The Russian government is now considering investing in AI data centres as a potential solution. Surprisingly swift ceasefire agreements between Israel and Iran led to a dramatic drop in oil prices, even though […]

The aviation sector is grappling with mounting challenges as geopolitical tensions force carriers to navigate an increasingly complex web of restricted airspace. British Airways’ recent cancellation of flights to Dubai and Doha exemplifies the industry’s predicament, whilst Qatar’s temporary airspace closure following Iranian missile strikes highlights the volatile nature of current operations. The financial implications […]