British businesses cut jobs last month at a rate not seen outside the pandemic since 2009, as many companies looked to head off the impact of higher employment taxes and the rise in the National Living Wage due in April.
Category: News
The latest news affecting small and medium sized (SME) businesses in the UK
Global jobs slump at two-decade low, warns Hays boss, as hiring freeze persists
The global employment market is mired in its longest downturn in more than 20 years, according to Dirk Hahn, chief executive of Hays, Britain’s largest listed recruitment group.
Government’s January surplus disappoints at £15.4bn, piling pressure on Chancellor
The UK government reports a £15.4bn budget surplus for January, falling short of forecasts and pushing total borrowing above last year’s level.
Unions seek £200m from ministers to safeguard Scunthorpe steelworks as blast furnaces face closure
Unions urge the UK government to provide British Steel with £200m to keep Scunthorpe’s two blast furnaces running until electric arc furnaces can be built.
Lloyds profits shrink by a fifth as car finance saga drives up provisions
Lloyds Banking Group posts a 20% fall in annual profits to £5.97bn, missing expectations as the car finance commission scandal prompts a further £700m provision. Loans and deposits rise, while analysts highlight Lloyds’ improved loan quality despite inflationary pressures.
Fears grow over Workers’ Rights Bill as small firms warn of job cuts
UK small businesses warn that sweeping new worker protections may trigger hiring freezes and job losses.
City bankers press Reeves to ease non-dom clampdown as wealthy workers exit UK
City bankers warn Chancellor Rachel Reeves that abolishing non-dom tax status drives top earners from the UK.
Inflation fears push consumer confidence to 11-month low
Consumer confidence in Britain falls to its lowest level in 11 months, as inflation at 3% and looming cost increases dent household optimism and point to weak spending in the months ahead.
HSBC slashes costs by 8% in $1.5bn drive as it scales back net-zero pledges
HSBC unveils a sweeping cost-cut plan targeting $1.5bn in savings, signalling thousands of job cuts mostly in the UK.
Inflation climbs to 3% as pricier food, flights and private schooling hit households
UK inflation hits 3% on pricier food, flights, and school fees. Discover why rising costs, looming energy hikes, and added VAT on private education are fuelling fresh concerns about living expenses and interest rate decisions.
MPs critical of ageist ‘wealth-hoarding’ labels for baby boomers
MPs condemn “wealth-hoarding” stereotypes targeting baby boomers and call for tougher regulation of ageist portrayals. Discover why the Commons women and equalities committee urges stronger legal protections for older people facing digital exclusion and harmful media labels.
Folding bike pioneer Flit raises £1.2m to challenge Brompton’s dominance
Cambridge-based Flit secures £1.2m to boost production of its innovative folding electric bikes, challenging Brompton by pioneering a lighter, non-welded frame design.
Dyslexic founder secures Branson’s backing with ‘Elevator of Dreams’ pitch
Dyslexic entrepreneur Hugh Johnston clinches Sir Richard Branson’s support after pitching his Tyypo app in Virgin’s ‘Elevator of Dreams’, igniting a surge in sign-ups and spotlighting the future of dyslexia-focused tech.
First-time homeownership slips further out of reach without family assistance
Only 11.5% of first-time buyers can afford to purchase without family help, warns Skipton Group, as looming stamp duty changes and rising house prices fuel a deepening affordability crisis.
Insolvencies soar to 16-year high as tax hike drives bosses to close up shop
UK company insolvencies reach their highest January total since 2009, as directors shutter businesses ahead of Rachel Reeves’s tax hikes and wage increases.
