Multiverse reports 29% rise in sales to £58.4m, driven by AI training demand, but pre-tax losses widen to £60.6m. Euan Blair says workforce reskilling is key to unlocking productivity.
Category: News
The latest news affecting small and medium sized (SME) businesses in the UK
Elon Musk merges x and xAI in $80bn deal to reshape AI and social media
Elon Musk merges xAI and social media platform X in an $80bn deal to integrate AI with real-time user data. The move aims to boost growth despite concerns over valuations and revenue.
Shopping still in fashion despite faltering consumer confidence
UK retail sales rose 1% in February, outpacing forecasts despite weak consumer confidence. Clothing and homeware drove growth, raising hopes of a Bank of England rate cut in May.
WH Smith to disappear from high street after 233 years in £76m sale to Modella Capital
WH Smith has sold its 480 UK high street stores to Modella Capital for £76m, ending a 233-year legacy. Stores will be rebranded as TG Jones as WH Smith focuses on global travel retail.
Trump’s car tariffs wipe billions off European automakers as global trade war escalates
Trump’s 25% tariffs on imported cars and parts hit European and UK carmakers hard, wiping billions off valuations and threatening exports. Experts warn of a major blow to global trade and UK GDP.
UK warned of £600bn debt interest bill as borrowing soars
The UK faces nearly £600bn in debt interest payments over five years, according to the OBR, amid weaker growth, rising inflation and one of the highest bond issuance levels on record.
Next profits top £1bn for the first time, but retailer warns of tougher year ahead
Next joins elite group of UK retailers posting over £1bn in annual profit, but warns of headwinds from tax rises and slowing consumer confidence in second half of 2025.
British Steel to cut up to 2,700 jobs as blast furnaces at Scunthorpe face closure
Up to 2,700 jobs are at risk at British Steel’s Scunthorpe steelworks after its Chinese owner, Jingye Group, announced plans to shut down the site’s two remaining blast furnaces and scale back rolling mill operations.
Business reaction to Reeves’s spring statement: confidence remains fragile as costs rise and support lags
Business leaders react to Rachel Reeves’s spring statement, criticising missed opportunities for SMEs and warning of rising costs, weak confidence and underwhelming support for innovation.
Spring statement 2025 key points: what businesses need to know
Rachel Reeves’s 2025 spring statement unveils £14bn in cuts, £2.2bn defence boost, and AI-led civil service reforms. Here’s what it means for the economy and business.
UK commits £3.25bn to public services and AI in spring statement to drive growth and productivity
Chancellor Rachel Reeves announces £3.25bn investment in AI and public service reform to drive growth, boost efficiency and modernise the UK economy amid slowing GDP.
Fevertree sales fizz in US with 9% boost, offsetting UK slowdown
Fevertree posts strong full-year results as US sales rise 9%, offsetting a dip in UK performance. Profits jump 66% and a £100m shareholder return is on the cards.
UK inflation dips to 2.8% in February but pressure on interest rates remains
UK inflation eased to 2.8% in February, surprising economists. But with energy-driven price pressures ahead, the Bank of England remains cautious on rate cuts.
Court of Appeal ruling empowers businesses to reclaim hidden energy broker fees
A landmark Court of Appeal decision strengthens businesses’ ability to recover hidden energy broker commissions, setting a new legal precedent for transparency and accountability in the unregulated energy market.
Retail sales fall sharply in March as weak confidence hits consumer spending
UK retail sales declined for the sixth consecutive month in March, with confidence hit by global tensions and fiscal uncertainty, according to the CBI’s latest survey.
