HSBC sets aside $876m for bad loans as Trump’s tariffs disrupt global trade, with the Asia-focused bank warning of further provisions and economic uncertainty ahead.
Category: News
The latest news affecting small and medium sized (SME) businesses in the UK
Overseas buyers line up to hear pitches from small UK exporters at new government roadshow
Small exporters from the North East of England will pitch to buyers from 19 countries at the launch of the government’s “Made in the UK, Sold to the World” export roadshow.
One in four workers fear AI could cost them their jobs, Acas warns
More than 25% of UK workers fear AI could lead to job losses, prompting Acas to urge employers to develop clear policies and reassure staff over AI’s role in the workplace.
Will Shu set for £172m payday as Deliveroo takeover looms
Deliveroo founder and chief executive Will Shu stands to gain more than £172 million if a proposed £2.7 billion takeover by US food delivery giant DoorDash goes ahead, despite the company’s shares still languishing far below their 2021 flotation price.
£90bn lending gap for small businesses ‘is holding back UK economic growth’
A £90 billion lending gap is stifling UK small business growth, with SMEs discouraged from borrowing due to a shift towards low-risk, property-backed loans, new research finds.
Scott Bessent attacks ‘Polyanna-ish’ IMF and demands clampdown on China’s export dominance
US Treasury Secretary Scott Bessent criticises the IMF for ignoring global trade imbalances and focusing on climate and diversity, calling for urgent reforms and tougher scrutiny of China.
Bank of England’s Andrew Bailey backs need for global trade reform amid Trump tariff threats
Bank of England governor Andrew Bailey acknowledges US concerns over global trade imbalances and China’s export model, as UK braces for impact of Trump’s escalating tariff policies.
Inheritance tax hits record £8.2bn as frozen thresholds drag more families into net
HMRC inheritance tax receipts hit a record £8.2bn in 2024-25, driven by frozen allowances and rising asset values. Further changes to pensions and farmland relief set to increase future liabilities.
Rachel Reeves to review import tax loophole in crackdown on cheap Chinese goods
Chancellor Rachel Reeves to review the UK’s low-value import tax loophole, targeting cheap goods from China and aiming to protect British retailers from unfair competition.
Rachel Reeves rules out chlorinated chicken ahead of key US trade talks
Chancellor Rachel Reeves rules out lowering UK food and vehicle import standards, including chlorinated chicken and hormone-treated beef, ahead of US trade negotiations in Washington.
US tariff war disrupts UK luxury exports as DHL halts shipments over $800
UK luxury brands face delivery chaos and rising costs as DHL suspends shipments over $800 to the US due to new Trump-era tariffs and customs rules, hitting key exporters hard.
CBI launches Defence & Economic Growth Taskforce to align investment with national prosperity
The CBI has launched a Defence & Economic Growth Taskforce with government and industry leaders to unlock UK growth through strategic investment in the defence sector.
UK office vacancy rate falls for first time since 2020 as firms rethink remote working
UK office vacancy rate falls for the first time since the pandemic began, signalling renewed demand for prime workspace as firms reverse remote working trends.
British Steel scraps redundancy plans after government intervention saves Scunthorpe site
British Steel halts plans for up to 2,700 redundancies at its Scunthorpe plant after emergency government intervention secures operations and raw material supply.
UK borrowing overshoots forecast by £15bn, fuelling pressure on Reeves ahead of autumn budget
UK government borrowing hit £151.9bn—£14.6bn above forecast—piling pressure on chancellor Rachel Reeves to raise taxes or cut spending to meet her fiscal rules.
