The US has imposed 25% tariffs on UK steel imports, sparking concern over diverted trade and added pressure on British producers. Discover how this affects the sector and what industry leaders are calling for next.
Category: News
The latest news affecting small and medium sized (SME) businesses in the UK
Treasury lays out multimillion-pound whistleblower rewards to tackle tax fraud
The Treasury has unveiled plans to reward insiders who blow the whistle on tax avoidance or fraud, offering payments of up to 25 per cent of the extra revenue raised.
HMRC raises threshold for self-assessment to £3,000
HM Revenue & Customs (HMRC) is poised to lift the threshold for filing self-assessment tax returns to £3,000, a move expected to spare an estimated 300,000 people the burden of completing annual returns.
Elon Musk blames ‘massive’ cyberattack for X outage
Elon Musk claims social network X, formerly Twitter, was hit by a huge cyberattack allegedly originating from Ukraine, causing hours of service disruption.
Boohoo to rebrand as Debenhams group in new marketplace drive
Boohoo is renaming itself as Debenhams group to capitalise on the department store’s success and pivot to a marketplace model, as new CEO Dan Finley plots a turnaround for the embattled online retailer.
Trump pledges to buy a Tesla in show of support for Musk amid share slump
Donald Trump says he will purchase a new Tesla to back Elon Musk as the carmaker’s shares tumble, reflecting growing concerns over the tech mogul’s political role and sweeping US government cuts.
Lloyd’s of London braces for $2.3bn loss from California wildfires
Despite a 6.5% rise in premiums and a healthy combined ratio of 86.9%, Lloyd’s faces an estimated $2.3bn bill from Californian wildfires, its 2024 results show.
Number of registered UK companies shrinks for the first time since 2012
Companies House reports the first-ever quarterly decline in the UK’s company register, as rising costs and new compliance measures prompt some business owners to close or remain sole traders.
Government to shake up AI funding rules to drive innovation and cut waste
The UK government is overhauling how it funds AI and digital projects to reduce bureaucracy, boost efficiency, and ensure new tech delivers value for taxpayers.
Scottish Power owner urges Labour to scrap Miliband’s ‘zonal pricing’ plan
Spanish energy giant Iberdrola has urged Shadow Chancellor Rachel Reeves to reconsider her party’s plans to introduce regional electricity pricing, arguing it could jeopardise billions of pounds of investment in British wind farms.
Starlink set to power rural NHS GP surgeries in England
Elon Musk’s Starlink wins an £85,000 NHS contract to bring satellite-based internet to remote GP surgeries in England, signalling a fresh push to tackle rural connectivity gaps.
London’s wages fall 5.6% since 2008, second worst among UK cities
New data shows London wages, adjusted for inflation, have dropped 5.6% since 2008—more steeply than any major UK city except Nottingham—raising concerns over the capital’s ability to attract top global talent.
Mark Carney confirmed as Canada’s new prime minister in landslide Liberal victory
Former Bank of England Governor Mark Carney wins an overwhelming leadership contest to become Canada’s prime minister, vowing to defend national interests against US pressures and bring fresh stability to Canadian businesses.
Bernie Ecclestone’s Formula One car collection sells for record-breaking sum to Red Bull heir
Bernie Ecclestone’s 69 rare F1 cars, valued at an estimated £500 million, have been purchased by Mark Mateschitz, heir to Red Bull’s fortune, in what experts call the largest classic car deal ever seen.
Business secretary signals major shift on electric car policy to safeguard Nissan’s UK future
Business Secretary Jonathan Reynolds announces a significant overhaul of the UK’s electric vehicle targets to keep Nissan’s manufacturing base in Britain, as ministers weigh flexible measures and potential fines reform.
