UK retailers urge government to scrap tax break allowing Shein and Temu to flood the market with cheap imports, warning of unfair competition after Trump’s new tariffs on China.
Category: News
The latest news affecting small and medium sized (SME) businesses in the UK
JD Vance says there’s a ‘good chance’ of US-UK trade deal amid global tariff turbulence
US Vice-President JD Vance says there’s a “good chance” of a trade deal with the UK, as both nations navigate Trump’s new global tariff regime and ongoing economic uncertainty.
UK businesses brace for ‘harrowing’ year amid tax hikes and global trade tensions
UK business confidence has plunged to a two-year low, hit by rising taxes and global tariff uncertainty. ICAEW warns 2025 growth may fall below official forecasts.
UK wage growth stays strong despite softening labour market and looming tax pressures
UK wage growth rose to 5.9% in the three months to February despite falling job vacancies and a cooling labour market. Economists warn payroll tax hikes may slow hiring.
JP Morgan’s Jamie Dimon puts US recession risk at 50:50 amid trade war fallout
JP Morgan CEO Jamie Dimon warns of “considerable turbulence” and a 50% chance of US recession as Trump’s tariffs fuel inflation, stall hiring, and trigger market volatility.
Voters urge Keir Starmer to prioritise rebuilding trade ties with EU over US deal
A clear majority of UK voters believe the government should prioritise strengthening trade ties with the EU over pursuing a new economic deal with the United States, according to new polling released this weekend.
Finance chiefs brace for impact as trade war and tax hikes fuel business anxiety
FTSE 350 CFOs adopt defensive strategies as Trump’s tariffs and UK tax rises create fresh uncertainty, with businesses slashing costs and focusing on cashflow and debt reduction.
Labour warned more industries could need British steel-style rescue amid soaring energy costs
Labour faces calls to act on “exorbitant” electricity prices as UK manufacturers warn of more British Steel-style bailouts unless energy costs are brought in line with Europe.
Chaos at European ports as trade war leaves ships in limbo
Ports across the UK and mainland Europe are becoming increasingly congested as the US-China trade war forces hundreds of vessels to divert or stall, causing widespread disruption in global shipping routes.
Lotus to axe up to 270 UK jobs amid “volatile market conditions” and US tariffs
Lotus will cut up to 270 UK jobs as part of a business restructure driven by volatile global conditions and new US tariffs on its UK-built sports cars, including the Emira and Evija.
Parliament to be recalled over British Steel
Parliament will be recalled on Saturday for an urgent debate on British Steel’s Scunthorpe plant, with the government considering taking control of the business.
Gold price hits record high as trade war and weak dollar drive safe-haven demand
Gold hits a record $3,223.72 an ounce as investors seek safe-haven assets amid escalating US-China trade tensions, a weakening dollar, and rising bets on interest rate cuts
UK economy grows 0.5% in February, easing fears over Trump tariffs
The UK economy grew 0.5% in February, beating expectations and easing concerns over Trump’s tariffs. Broad-based growth in services and manufacturing helped drive the rebound, ONS data shows.
Jobseekers rise at fastest rate in five years as hiring slows and redundancies grow
The number of jobseekers rose at the fastest pace since 2020 in March, as redundancies increased and job vacancies fell, according to KPMG and REC. Permanent placements continue to decline.
Penny Mordaunt criticised for role as British American Tobacco adviser
Former cabinet minister Penny Mordaunt faces backlash from health campaigners after becoming an adviser to British American Tobacco, despite abstaining from key anti-smoking legislation.
